A risk analyst at an investment bank is reviewing the way performance analysis of hedge funds and real estate funds have been conducted. Each year, whenever a hedge fund stops trading, the hedge fund is removed from the database of hedge funds. Also, because of the addition of new assets to the real estate fund, the liquidity of that asset category has improved each year and trading has become more frequent. Which of the following best describes the impacts these changes have historically had on hedge fund and real estate fund analyses performed using these databases?