You manage a risky portfolio with an expected rate of return of 12% and a standard deviation of 35%. The T-bill rate is 4%. Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund.

What is the reward-to-volatility (Sharpe) ratio (S) of your risky portfolio? Your clients?

Note: Do not round intermediate calculations. Round your answers to 4 decimal places.

our reward-to-volatility (Sharpe) ratio=

Client's reward-to-volatility (Sharpe) ratio=