You are provided the following information related to the Three Stooges Investment Funds LTD.

Portfolio Metrics Larry Curly Moe

Total Return 10% 14% 8%

Beta 0.9 1.5 0.8

Standard Deviation 12% 30% 10%

Correlation 0.3 0.6 0.4

Risk-Free Rate 4% 4% 4%

Equity Risk Prem 8.5% 8.5% 8.5%

AAA Bond Rate 9.5% 9.5% 9.5%

Based on the above data, calculate the Treynor Ratio for the Larry and Curly funds. How do they compare (explain what the ratio is measures)? Please show all work and use at least 4 decimal places.