Best Performance Measure for Benchmark Evaluation

John is a portfolio manager who has recently completed a detailed assessment of his fund's performance over the past year. He is particularly interested in understanding how well his fund has performed relative to its benchmark. Using the information from this assessment, John wants to evaluate whether his portfolio management strategy has been successful.

In his analysis, John comes across various performance metrics and ratios, including Treynor Ratio, Sharpe Ratio, and Jensen's Alpha. Each of these metrics provides different insights into his fund's performance.

Which of the following performance measures will best help John understand the risk-adjusted performance of his fund relative to its benchmark?