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Great topic. I was hoping you would tie in the risk component into the discussion. For example, on an equal weight fund, when you compensate for the added risk (i.e. owning a larger portion of smaller firms), does that beat a normal market weight in the long term on a risk adjusted basis. And finally, if you include a bit extra expense ratio, does that beat a plain vanilla Vanguard ETF. Great subject. Hopefully we can revisit and expand on it going forward.