# How the ETFIQ Research Library Is Made

> How ETFIQ’s Research Library is made: 20 sources read, summaries checked against each paper, and figures from ETFIQ’s own data, as of Oct 21, 2026.

Data as of Oct 21, 2026. Rebuilt every trading night.

As of Oct 21, 2026.

## How the Research Library is made

As of Oct 21, 2026, the library reads 20 of the 28 sources it considered and publishes 33 summaries; 4 drafted summaries are held for failing a check.

### Scope

Public research on ETFs and the markets they hold, from fund issuers, banks, research firms and industry bodies, published in the last twelve months. A page that asks for a login, a role or a form, or is marked for professional or institutional use only, is left out. ETFIQ hosts no paper: each entry links the firm’s page.

### Sources

| Source | Kind | Decision | Why |
| --- | --- | --- | --- |
| AQR | Research firm | included | Public Alternative Thinking papers and white papers. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Allianz Investment Management | Issuer | included | Buffer ETF research and guides. The site asks a visitor to pick investment professional or individual investor; only pages open to individual investors are taken. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Bitwise | Issuer | included | Crypto market reviews and research. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| BlackRock | Issuer | included | Public insights pages on ishares.com and blackrock.com; papers in the financial-professionals section are excluded as gated. Its terms prohibit robots used to copy the site: flagged to the VP. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Calamos | Issuer | included | Investment team outlooks and option-income and structured-protection research (Voices blog). Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Charles Schwab | Issuer | included | Public Schwab Center for Financial Research and Schwab Asset Management articles. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. schwabassetmanagement.com refused ETFIQ (403, 2026-10-20), so only schwab.com is read. |
| Direxion | Issuer | included | Leveraged ETF education papers (PDFs). Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Fidelity | Issuer | included | Public Learning Center and Viewpoints articles; institutional.fidelity.com excluded as gated. Its terms ask that no high-speed automated access is used: this reader is neither high-speed nor repeated. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| First Trust | Issuer | included | Public market and economic commentary on ftportfolios.com. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Global X | Issuer | included | Public product research articles and PDFs. No terms page was found to read. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. Its PDF host, assets-cms.globalxetfs.com, refused ETFIQ (403, 2026-10-20), so only its web articles are read. |
| Innovator ETFs | Issuer | included | Buffer research and monthly playbooks (PDFs). Its terms address now redirects to its owner Goldman Sachs’s privacy page, so no terms were read; innovatoretfs.com itself answered ETFIQ. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Invesco | Issuer | included | Public insights pages. Its terms prohibit data mining and robots: flagged to the VP. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Investment Company Institute | Industry body | included | Public research, the Fact Book and ICI Viewpoints; member-only statistics files excluded. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| J.P. Morgan | Bank | included | Public outlooks on jpmorgan.com. Its terms prohibit robots used to copy its pages without written permission: flagged to the VP. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| J.P. Morgan Asset Management | Issuer | included | Public PDFs on am.jpmorgan.com; the adv (advisor) and institutional sections ask the reader to declare a role, so they are excluded as gated. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| ProShares | Issuer | included | Leveraged and inverse ETF insights and education. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com) from CI, a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Research Affiliates | Research firm | included | Public articles. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| State Street Investment Management | Issuer | included | Public papers in the individual and library sections; intermediary and institutional sections excluded as gated. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| UBS | Bank | included | Public Chief Investment Office pages on ubs.com; advisors.ubs.com excluded as an adviser site. Its terms prohibit systematic retrieval to build a database: flagged to the VP. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Vanguard | Issuer | included | Public research on corporate.vanguard.com; advisor-only pages excluded. Included under the standing rule (Adam, 2026-10-11): terms that prohibit automated access do not count as an objection; only an objection made to ETFIQ, or a refusal, removes a source. Read openly as ETFIQ (data@etfiq.com), a few pages a run, at least 4 seconds apart and at any Crawl-delay its robots.txt asks, and only paths robots.txt allows. |
| Bank of America Institute | Bank | excluded | Excluded: the Institute publishes consumer and macro data, not ETF or market research, so no paper fits the library. |
| CFA Institute | Industry body | excluded | Excluded (VP, 2026-10-20): CFA Institute's terms name artificial intelligence and machine learning tools among the automated uses they prohibit, and this is editorial content, not issuer data, so Adam's 2026-10-11 rule on issuers' disclosures does not reach it. |
| Goldman Sachs | Bank | excluded | Excluded: goldmansachs.com refused ETFIQ (403 at /terms-and-conditions, 2026-10-20). A refusal removes a source (Adam, 2026-10-11). |
| Grayscale | Issuer | excluded | Excluded: grayscale.com and research.grayscale.com refused ETFIQ (429 at robots.txt, read from CI on 2026-10-20). A refusal removes a source (Adam, 2026-10-11). |
| Morgan Stanley | Bank | excluded | Excluded for now: robots.txt and the terms page timed out from this machine and again from CI on 2026-10-20, so the site cannot be read as ETFIQ asks. |
| Morningstar | Research firm | excluded | Excluded: morningstar.com refused ETFIQ (403 on its research pages, 2026-10-20). A refusal removes a source (Adam, 2026-10-11). |
| VanEck | Issuer | excluded | Excluded: every page read sent ETFIQ round a loop of cookie-consent redirects (us/en/legal and the press page, 2026-10-20), so a page cannot be read as ETFIQ asks without accepting cookies. VanEck is also read only by the nightly paced job. |
| WisdomTree | Issuer | excluded | Excluded: wisdomtree.com refused ETFIQ (403 at /terms, 2026-10-20). A refusal removes a source (Adam, 2026-10-11). |

### Definitions and method

Each paper is read openly as ETFIQ, with data@etfiq.com in every request, at least four seconds apart and at any crawl delay its host asks, and only where its robots.txt allows. Its text is kept for summarizing and checking and is never published. A summary is three to five points in ETFIQ’s words, drafted by Claude and then checked. The ETFIQ take is not drafted: it is computed from data ETFIQ publishes every trading night, with each figure’s date and a link to the page that prints it, and it states the paper’s figure beside ETFIQ’s without reconciling them.

### What is checked every night

Every figure in a summary must appear in the paper with the same unit. No run of nine words may be the paper’s own. Every sentence that carries a figure names the firm. The lead names the paper’s month. A summary that fails any check is held and never published, and the census re-checks every published summary against the stored text and every take figure against its own source.

### What this cannot tell you

A summary is not the paper. The take compares a paper’s set and window with ETFIQ’s, which differ, so neither confirms the other. Nothing here is a recommendation.

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, How the Research Library is made, data as of Oct 21, 2026. https://etfiq.com/methodology/library
Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/methodology/library