Portfolio look-through

How look-through is computed

1. Weights are normalised to 100%The weights you enter are rescaled so they add up to 100 (negative weights count as zero; if every weight is zero, the positions are equal-weighted). Weights are expressed in percent throughout, so 50 / 30 / 20 and 5 / 3 / 2 give the same portfolio.
2. Weighting basis: the latest published snapshot of each fundEvery fund contributes the sector, country, asset-allocation, region, credit-quality and top-holdings tables of its most recent successful snapshot, as its issuer publishes them. The snapshot date is the fund's dataAsOf, shown on the fund page and in the worked example below. A fund that has not been loaded yet is kept in the positions with covered: false and contributes to nothing.
3. Each breakdown is a weighted sum with its own coverageFor a breakdown such as sector, every fund that publishes it adds each line's weight times the fund's portfolio weight; lines with the same label are summed and the top 30 are kept. The block's coverage is the sum of the weights of the funds that disclose it, so a sector table that covers 80% of the portfolio means one fifth of the portfolio has no sector data. Single-asset-class funds without an allocation table count fully towards their class.
4. Blended TER and cost per $10,000The total expense ratio of each fund is multiplied by the fund's weight; the sum is divided by the total weight of the funds that disclose a TER, which is reported as the fee coverage. The annual cost per $10,000 is the blended TER applied to that amount. Funds without a published TER are neither counted in the numerator nor in the denominator.
5. Weighted risk indicatorThe 1–7 summary risk indicator (SRI or SRRI) of each fund is weighted the same way over the funds that publish one, rounded to one decimal, and placed in a band: below 2.5 is low, below 4.5 medium, otherwise high. The coverage says which share of the portfolio the figure is based on.
6. Underlying holdings: matched by name, names-only and baskets left outHolding names are normalised (upper case, punctuation and corporate suffixes such as Inc, PLC or AG removed) so the same company is summed across funds. A fund that publishes its largest positions without weights cannot be weighted: it is listed under namesOnly and left out of this block and of its coverage. A synthetic ETF's substitute basket does not describe its exposure, so it is listed under excluded and skipped here while its sector and country tables, which are the index's, still count. The top 25 aggregated holdings are returned.
7. The holdings block is a lower boundOnly the stored positions can be aggregated: the ten largest lines for most funds, up to 50 for some issuers, even when an ETF publishes its full portfolio. The largest underlying holdings and their weights can therefore only understate what the portfolio really holds; the coverage figures show how much was visible.

Worked example

How it works