问题如下：
McMahon performs a sector
attribution analysis based on Exhibit 1 to explain the large-cap portfolio’s underperformance
relative to the benchmark.
Using a sector attribution analysis based on Exhibit 1, which US
large-cap sector is the primary contributor to the portfolio’s underperformance
relative to the benchmark?
选项：
A.Utilities
Consumer staples
Information technology
解释：
Below is the attribution analysis for selected sectors of the US
large-cap portfolio.
Based on this analysis, the US large-cap portfolio’s information
technology sector is the primary contributor to the portfolio’s disappointing
equity returns because it provided the largest negative differential relative
to the benchmark, with a differential of –0.04%. Although the information technology
sector had a positive return, this sector was underweighted relative to the
benchmark, resulting in a negative contribution to the portfolio’s returns.
老师你好，我的思路是否正确：问哪个sector对underperformance的贡献最大，只需要计算这两类sectors：1）sector return为正，但权重买少了；2）sector return为负，但比benchmark买多了。因为最终结果都为负值。如果问outperformance的话，就用类似的逻辑，只找return为正的sectors。不需要每个sector都计算一遍。谢谢。
