You are a certified financial planner helping your risk averse clients determine the best passive portfolio manager for the next 10 years. You want to make sure you retain as much return for the client as possible after fees. Which of the following portfolios would you recommend? Assume a benchmark return of 6% exists in the market.

Group of answer choices

An index fund managed by Vanguard that charges 0.05% management fee with 8% expected annual returns.

A leveraged Commodity index fund by LeverCo Asset Management that charges 1.5% management fee with 16% expected annual returns.

An index fund managed by Fidelity that charges 0.10% management fee with 9% expected annual returns.