Which of the following statements is incorrect regarding Bucket based asset allocation?

Group of answer choices

Allocation of assets within each bucket can be done either through a quantitative methodology or a qualitative methodology which considers the inherent nature of each asset that is considered to be included in the portfolio

A "Three Bucket" based asset allocation allows for better allocation of risk than a Risk Parity portfolio, since portfolio managers can choose the level of risk allocation or types of investments to each bucket.

Asset allocation based on "Three Buckets" is inferior to Mean-Variance allocation that uses historical risk, return and correlation for each asset since the MV framework is backed by a sound theoretical framework.

Investors are able to change allocation of assets within, and across, each bucket based on changes in investment objectives.

Allocation to each bucket in a "Three Bucket" asset allocation is based on investors' investment objectives.