Portfolio methodology

For each position of weight p_j holding security i at weight w_ij, the portfolio’s exposure to security i is Σ_j p_j · w_ij. Positions without a filed book show as uncovered, so the covered share is always visible.

The same Σ min(w_i, v_i) as for thematic ETFs, applied to two holdings books. Each book holds every row the fund filed. Books were once capped at 300 rows, which understated overlap for broad funds. The cap is gone.

Securities match on CUSIP or ISIN from both funds’ N-PORT filings, never on name. Cash and money-market funds are excluded. Treasury bills are included. Two cash or ultrashort funds show a figure only when both filings share a report date.

Each buffer position, weighted by its share of the portfolio. This gives what the whole portfolio can still gain, how far it can fall before its buffers engage, and the protection left across all of them, each band on one scale.

Twelve months of payouts for each income position. A payout is declared, scheduled from a calendar, or projected at the fund’s own cadence. Each row says which.

A fund holding mostly T-bills and options is marked synthetic. Its economic exposure stands in for its book. A fund with no holdings book (not yet filed, or only swaps or bills) is marked proxy. The index or stock in its name stands in. Both are labeled, and neither is shown as a filed holding.