Open the associated Excel file named QPS2 Data Winter 2020 Problems 11 to 20 in the Quantitative Problem Set 2 Instructions. The data file includes 60 months of returns for 11 exchange traded funds; their names and ticker symbols follow:

Ticker

Name of Exchange Traded Fund

1

SPY

SPDR S&P 500 ETF

2

MDY

SPDR S&P MidCap 400 ETF

3

IWM

iShares Russell 2000 ETF

4

QQQ

Invesco QQQ Trust ETF

5

EFA

iShares MSCI EAFE ETF

6

VWO

Vanguard FTSE Emerging Markets ETF

7

VNQ

Vanguard REIT Index ETF

8

BND

Vanguard Total Bond Market ETF

9

PFF

iShares Preferred & Income Securities ETF

10

GLD

SPDR Gold Shares ETF

11

JNK

SPDR Bloomberg Barclays High Yield Bond ETF

Some problems use all 11 ETFs and other problems only use 9 of the 11 ETFs.

If you form an equally weighted index using these 11 ETFs, what is the expected return for this equally weighted index?Enter your answer rounded to two decimal places.Do not enter % in the answer box.For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.