Your company offers a retirement plan administered by Forever Investments. The plan allows you to invest in a variety of mutual funds, including Forevers Growth fund (FG for short), Forevers Value fund (FV), and Forever SnP 500 Index Fund (FSI). FSI is an index fund that simply tries to match the performance of the S&P 500 index. Suppose you have data about each funds monthly returns during the last 20 years.

Explain briefly (max a paragraph, with 3 sentences) how you could evaluate whether the funds performed well on a risk-adjusted basis. You can use S&P 500 index as a benchmark for all three funds. No calculation needed.