Risk-Adjusted Mutual Fund Performance Measures Have Decreased in Popularity Because

Risk-adjusted mutual fund performance measures have decreased in popularity because

A) in nearly efficient markets, it is extremely difficult for portfolio managers to outperform the market.
B) the measures usually result in negative performance results for the portfolio managers.
C) the high rates of return earned by the mutual funds have made the measures useless.
D) in nearly efficient markets, it is extremely difficult for portfolio managers to outperform the market, and the measures usually result in negative performance results for the portfolio managers.