77 A fund manager uses an ETF to make a tactical adjustment to her existing portfolio, focusing on a specific area of technology. The manager has identified three ETFs as potential investments:

| ETF type | ETF 1 (Thematic) | ETF 2 (Broad-based) | ETF 3 (Thematic) |

|-------------------|------------------|---------------------|------------------|

| Ratio of average dollar trading volume to average assets | 3.5 | 12.1 | 7.5 |

| Annual management fee (basis points) | 12 | 10 | 20 |

Which ETF would be most suitable for the tactical adjustment to the portfolio?