Question: Question 5: Help Alex by computing the level of the index on Sept. 1, 2020, the level of the index on Sept. 1, 2021 period,

Question 5: Help Alex by computing the level of the index on Sept. 1, 2020, the level of the index on Sept. 1, 2021 period, the return of the index over the Sept. 1, 2020-Sept. 1, 2021 period, and the tracking error of the ETF. (Hint: to get the ETF's tracking error, subtract that ETF return from the index return) Alex is now convinced that the ETF is a better investment. He asks Amanda to place a market order for 450 shares. The limit order book of Top5 tracker ETF on Sept. 1, 2020 is the following:% Table 4: Top5 tracker ETF Share limit order book (Sept. 1, 2020) Bid Amount 3002 2002 400 4502 Bid Price $566 $565.72 $565.02 $564.82 Ask Amount 4002 450 300 2502 Ask Price $5684 $5694 $569.34 $569.54 Question 5: Help Alex by computing the level of the index on Sept. 1, 2020, the level of the index on Sept. 1, 2021 period, the return of the index over the Sept. 1, 2020-Sept. 1, 2021 period, and the tracking error of the ETF. (Hint: to get the ETF's tracking error, subtract that ETF return from the index return) Alex is now convinced that the ETF is a better investment. He asks Amanda to place a market order for 450 shares. The limit order book of Top5 tracker ETF on Sept. 1, 2020 is the following:% Table 4: Top5 tracker ETF Share limit order book (Sept. 1, 2020) Bid Amount 3002 2002 400 4502 Bid Price $566 $565.72 $565.02 $564.82 Ask Amount 4002 450 300 2502 Ask Price $5684 $5694 $569.34 $569.54
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