You are considering an investment in a mutual fund with no load, a 12b-1 fee of 0.35%, an expense ratio of 0.23%. You can invest instead in a bank CD paying 5% interest. If you plan to invest for 9 years, what annual gross rate of return must the fund portfolio earn for you to be better off in the fund than in the CD? Assume annual compounding of returns.

Round your answer to 4 decimal places. For example, if your answer is 3.205%, then please write down 0.0321.