ETFIQ

Builds a custom portfolio of US listed ETFs from construction choices about the portfolio, and shows the rule it applied. Two forms. Weights (ETFIQ custom construction rule, version 2): pass weights, the user's own percent for each asset class, adding to exactly 100, for example {"us-stocks": 40, "international-stocks": 15, "us-bonds": 25, "gold": 10, "reits": 10}. The asset classes: us-stocks, us-small-stocks, international-stocks (broad, market-cap-weighted index funds only), international-dividend-stocks, international-esg-stocks, international-factor-stocks, international-ipo-stocks (each only when the user asks for that tilt), emerging-markets-stocks, reits, us-bonds (core, intermediate), us-bonds-short, us-bonds-long, us-corporate-bonds, government-bonds-short, government-bonds-intermediate, government-bonds-long, tips, high-yield-bonds, cash (Treasury bills), gold, commodities (broad), alternatives. Defaults: cheapest funds, one fund per asset class, no fee ceiling; the answer's defaults.line names the ones used. Band (version 1): pass band, include and funds, and the rule sets the weights (stocks at the band's point, international, broad market-cap-weighted funds only, 40% of stocks outside themes, themes 10% of stocks, commodities and alternatives 5% each from bonds, US bonds the rest). In each asset class or sleeve the cheapest (or largest) funds that file N-PORT (a gold trust: its 10-Q or 10-K), hold at least $100 million and have three years of prices, each fund's fee with its filing date. Weights given in words go to the weights form mapped to the ids above. Only two things have no default, and each is refused with its kind: weights that do not add to 100 (kind weights-total) and an asset class with no id here (kind unknown-class). With neither weights nor a band, the tool needs one of them; the bands by stock share are conservative: more than 15% and up to 30% stocks; moderately-conservative: more than 30% and up to 50%; moderate: more than 50% and up to 70%; moderately-aggressive: more than 70% and up to 85%; aggressive: more than 85%. The tool takes nothing about the person: an argument giving their age, income, savings, net worth, goals, time horizon, tax situation, risk tolerance, employment or family is refused (kind person), and weights and bands are the user's choices about the portfolio, not facts about someone. Whether a portfolio suits someone, or whether to buy or sell it, is not something ETFIQ answers, and the not-advice line says so. Its returns field carries the portfolio's hypothetical returns (ETFIQ custom rule, version 3: the weights reset at every month end, as the ETFIQ benchmarks are): total return, return a year, volatility and month-end drawdown over 1Y, 3Y, 5Y, 10Y and since the first month end all its funds share, a window given only where every fund has prices across it; returns.common.sentence says where the history starts and why. They are hypothetical: no window is extended, and no return is estimated beyond the ones given. compare_to_benchmark takes the answer's compare.arguments to set the portfolio beside an ETFIQ benchmark. Every response carries the not-advice line in not_advice, written to be shown with the portfolio.

Sets an allocation ETF, or a portfolio build_portfolio builds, beside an ETFIQ benchmark. With ticker (such as AOR): how the fund did against the benchmark for its band (set by its look-through stock share), over the same dates, as ETFIQ published it: total returns by window and the difference, risk and cost. With portfolio (the arguments build_portfolio took, its answer's compare.arguments.portfolio): the same portfolio built again beside an ETFIQ benchmark, the benchmark's own 1Y, 3Y, 5Y, 10Y and since-inception windows exactly as published, each with its dates and basis (hypothetical before the freeze date), and the differences in stock share and weighted fee in percentage points; and, in portfolio_returns, the portfolio's hypothetical returns beside the benchmark's over the same months, window by window, with each difference in percentage points. WHICH BENCHMARK: without benchmark, the default rule's (the ETFIQ strategic benchmark nearest the portfolio's looked-through stock share, the lower on a tie; for the band form, its band's), and choice.line says why in one line. When that one is more than 5 percentage points from the stock share, or the share is as near another strategic benchmark, the next-nearest is set beside it in also, with the same windows and differences, and choice.gap.line says so. When the reader names another ETFIQ benchmark ("compare it to Strategic 80 instead"), pass benchmark with their words or its id (etfiq-strategic-80): any benchmark list_benchmarks returns. That one is used, and choice.line still names the default and why. A name that matches no benchmark is refused (kind unknown-benchmark) with the list. Refuses, and estimates nothing, when ETFIQ has not published what is asked.

The benchmark ETFIQ measures one ETF against, as its page names it: the index the fund names, or its own holdings, never a category stand-in; how that was set, the ETF it is priced through, and the fund's return, the benchmark's and the gap for each window. The ETFIQ benchmarks for model portfolios are a different thing (list_benchmarks).

How each seat of the IQ Investment Committee reads one ETF: 11 seats named for investing philosophies (Bogle-style Low Cost, Graham-style Margin of Safety and the others) and the ETFIQ Skeptic, each with its state (Supports, Mixed, Challenges or Not enough data), how much of the seat could be measured, and each criterion's state. States are never a call to buy, sell or hold, and every answer carries the disclosure to show with it. Each seat links its own page, which gives the investor's published source and the thresholds.

Two ETFs compared as ETFIQ's comparison page for the pair publishes them: the page's title and dated lead sentence, each fund's verdict and key numbers, the share of holdings they have in common, the dated answers in the page's FAQ, and the pair's risk and return scorecard where one is published. A pair with no comparison page is refused, with each fund's own page.

Fund flows as ETFIQ publishes them, computed from each fund's daily change in shares outstanding times its NAV. With ticker: that fund's net flow over 1D, 1W, 1M, 3M, YTD and 1Y, each with its dates and its share of net assets at the window's start, its streak, and its filed N-PORT months. Without ticker: the biggest inflows and outflows among every fund with daily data for window (1D, 1W, 1M, 3M, YTD or 1Y; default 1W), how many funds were counted, each row with the last day its numbers reach (through; a row short of the window counts fewer days), and the latest weekly flows report (Monday to Friday) with its own top inflows and outflows, each with its days. Filter by desk, category (Stocks, Bonds, Commodities, Allocation) or issuer. It answers questions about money going into or out of ETFs.

Which US listed ETFs hold a given company, ranked by how much of each fund it is. It answers "which ETFs hold X", "which fund holds the most X" and "how do I get exposure to X" questions, where X is a company rather than a fund, and for "which bond ETFs hold X's debt". Takes a company name or its ticker. Returns every fund holding its shares with the weight its issuer published and the date that book was filed, and separately every fund holding its bonds or other debt. Covers 31,019 companies.

What a fund holds, by weight, and how old that is. lag_days says how old the book is: an issuer file read today and a filing from two months ago both come back here and are not the same answer.

How much of their weight two funds hold in common, as ETFIQ published it on the comparison page for that pair. Use when asked whether two ETFs are the same thing, or whether owning both adds anything. Refuses rather than estimating when the pair is not compared or either holdings book is incomplete.

Everything ETFIQ publishes about one fund: issuer, category, and each number with its source and as-of date, plus a one sentence verdict on how it did against what its own label promises. benchmark is the fund's own benchmark as its page names it: its name, how it was set, and the fund's return, the benchmark's and the gap for each window (periods is the page's whole window table). A closed fund answers with closed (the day and the page's words); a former ticker answers as the fund it trades as now, and says so. The ETFIQ benchmarks for model portfolios (list_benchmarks) are a different thing.