问题如下图：
选项：
A. 
B. 
C. 
解释：
maggie_品职助教 · 2021年02月20日
嗨，爱思考的PZer你好：
三个选项分别对应的是组合超额收益的三个来源，1、择时（通过对时机的把握找到一些短期表现好的机会） 2、运气 （Sizing Positions） 3、长期通过承担/调节 rewarded factor的权重（重仓或轻仓rewarded factor）
不选C的原因是：
1. 基金1 不仅关注rewarded factor 还关注unrewarded factor。在三个来源中只有择时是关注unrewarded factor，因为只有在短期，基金经理可以通过专业性找到unrewarded factor的投资机会,
2、题干中没有提及对于rewarded factor权重的调整（选C的关键词是overweight/underweight rewarded factor）
3. 这道题让咱们选“most likely”,最佳选项的话肯定是A
我把讲义截图放在下面，重点用红色框出来供你参考。
-------------------------------加油吧，让我们一起遇见更好的自己！
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