The historical simulation (HS) approach is based on the empirical distributions and a large number of risk factors. The Risk Metrics approach assumes normal distributions and uses mapping on equity indices. The HS approach is more likely to provide an accurate estimate of VAR than the Risk Metrics approach for a portfolio that consists of

A. A small number of emerging market securities

B. A small number of broad market indexes

C. A large number of emerging market securities

D. A large number of broad market indexes