DATE	NASDAQ	EQUITIES GROWTH	EQUITIES VALUE	LARGE CAP EQUITIES	MEDIUM CAP EQUITIES	SMALL CAP EQUITIES	YEAR	INFLATION	TREASURY BILL
	EQUITY INDICES
	ADJUSTED CLOSING PRICES							TOTAL RETURN
12/31/2007	59.34	16.61	52.43	117.83	87.09	33.89	2007
12/31/2008	81.08	22.01	69.01	155.89	116.23	47.89	2008	1.51%	-0.09%
12/31/2009	96.63	25.23	77.41	176.88	127.52	50.69	2009	0.65%	-0.07%
12/31/2010	105.75	26.58	74.86	179.07	124.53	49.64	2010	0.64%	-0.13%
12/31/2011	113.26	28.39	87.81	200.55	150.34	62.84	2011	2.05%	0.11%
12/31/2012	150.25	36.12	101.19	244.08	174.78	71.1	2012	2.13%	0.69%
12/31/2013	150.06	36.04	91.86	232.93	155.21	65.05	2013	2.00%	1.74%
12/31/2014	208.53	47.14	120.91	305.66	195.72	79.89	2014	2.31%	2.03%
12/31/2015	309.47	62.78	122.38	361.69	222.33	88.9	2015	1.32%	0.40%
12/31/2016	394.33	82.74	152.63	465.6	277.28	112.54	2016	7%	-0.10%
12/31/2017	265.87	58.32	144.38	380.98	240.93	94.31	2017	6%	1.40%

Capital Markets Risk and Return

Investors can exchange in a variety of exchange-traded funds (ETFs) in order to gain exposure to different asset classes and market

indices. Please use the data in the tables below to answer the following questions regarding performance and risk for the

provided asset classes.

Question:

1. Which asset class had the highest return in 2015? Which asset class had the lowest return in 2015? Please show all calculations
2. Please rank the ETFs from highest to lowest risk over the entire period for which data has been provided. Please show all calculations
3. Please document the calculation of both variance and standard deviation using the sum of the squares method for MidCap
4. Equities. Please show all calculations
5. Please calculate average geometric returns for each ETF/asset class.Please show all calculations
6. Please calculate average real returns for each ETF/asset class from 2008-2013. Please show all calculations