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问题如下：

If the price return of an equal-weighted index exceeds that of a market-capitalization- weighted index comprised of the same securities, the most likely explanation is:

选项：

A.

stock splits

B.

dividend distributions

C.

outperformance of small-market-capitalization stocks

解释：

The main source of return differences arises from outperformance of small-cap securities or underperformance of large-cap securities. In an equal-weighted index, securities that constitute the largest fraction of the market are underrepresented and securities that constitute only a small fraction of the market are overrepresented. Thus, higher equal-weighted index returns will occur if the smaller-cap equities outperform the larger-cap equities.