You want to build a two asset portfolio including SPDRs and T-Bills that has an expected return of 10.06%. A SPDR is a Standard and Poor's Depositary Receipt. A SPDR is an exchange traded fund (ETF) that is designed to generate the same return as the S&P 500 index. What is the portfolio weight on the SPDRs? Assume that the return on the T-Bills is 2.5% and the expected return on the S&P 500 is 8.5%.
The portfolio weight on the SPDRs is (Round to four decimal places.)