You just finished the first quarter managing a portfolio for a client. The initial investment was $175.000 and at the end of the quarter the value was $168,665. Your performance is judged against a combination of U.S. and Non-U.S. equity indices. The U.S. index is the S\&P 500 and has a weight of 75%. The Non-U.S. index is the ACWI and has a weight of 25%. For the quarter, the S\&P 500 Index lost 2.93% and the ACWI lost 5.13%. What is the return from the benchmark you are judged against? (recurring content question) 2.20% 4.03% 3.48% 2.93% 8.06%