ps) %-ile ratio spot) (bps) %-ile ratio spot) (bps) %-ile — return SX3P (Fd&Bv) 0.7% -04% 2% 0.1% 0.6% = 2% 16.4 2.1% -8 7% 48 -0.2% 5 80% 13% SX6P (Utils) 22% 0.0% 4% 0.9% 0.8% 2 4% 128 24% 5% 42 -0.3% 0 95% -0.1% SX7E (Banks) 22.7% 0.3% 2% 8.6% 9% 2 3% 54 3.6% 2 9% 28 -0.5% 0 52% — -3.0% $X7P (Banks)

iness corporations.” Pac. Gas & Elec. Co. v. Pub. Utils. Comm’n, 475 U.S. 1, 15 n.12 (1985). This discreti