问

问题如下：

Which of the following statements correctly describes the performance of a derivative？

选项：

It equals the performance of the underlying minus expenses at payout.

it is the same as the performance of the underlying.

it transforms the performance of the underlying.

解释：

C is correct.

Based on the definition of a derivative, it is a financial instrument that transforms the performance of the underlying.

A is incorrect because it describes the performance of mutual funds and exchange traded funds, which pass through the returns of the underlying, the concepts are different.

B is incorrect because a derivative transforms the performance of the underlying not the same as it.

中文解析：

衍生品的收益是基于其标的资产收益通过一定规则变化而来，所以C选项是正确选项。

A选项描述的是标的资产扣除费用，这是类似基金产品的收益，不是衍生品的。

B选项说衍生品收益和标的资产收益完全一致，也是错误的。