How the data is built

Data sets begin from a resolved universe of fund share classes built on a consistent identifier structure. A share class is identified by its ISIN. A portfolio has a portfolio identifier. A managing firm has a firm identifier. How the files link →

Source selection

Holdings sources include SEC Forms N-PORT and N-MFP, Japanese EDINET filings, and qualifying sponsor files. For a portfolio, we select the newest qualifying report dated within the year before the analysis date. Positions the source discloses are retained at full depth and ranked by reported weight.

Holdings projection

Reported quantities remain fixed while observed price changes move weights and values from the source date to the present. A position records its source, source date, and projection method. Where a source discloses positions beyond the depth we persist, an aggregate tail entry covers the remainder so the portfolio sums to 100%. For leveraged funds, negative positions — the borrowing and shorts — are preserved so the gross exposure reads correctly. How stale is a fund's publicly disclosed portfolio →

Liquidity is measured on the fund's own shares. Exchange-traded shares use observed trading volume and prices. Open-end funds use their NAV-redemption structure and filed flow activity. Interval funds use repurchase-window timing and capacity. UITs use sponsor-bid evidence and termination dates. Applicable evidence, source dates, and calculation status appear with the record. Why the distinction matters →

Fees and peer ranking

Expense ratios and turnover come from the fund's regulatory filings. Measures are ranked against a peer group defined by vehicle type and investment objective. The ranking includes the fund's quintile, the peer-group median, and the count of peers compared.

Exposure breakdowns

Sector, credit-quality, coupon, and maturity weights are built from position-level holdings. Duration, yield, and credit quality appear alongside a coverage percentage, so a reader sees how much of the bond sleeve the measure spans.

Performance and the rating

Returns compound from the fund's filed monthly total returns; short horizons use daily NAV where a recent close exists. The SQX Fund Rating is a risk-adjusted return ranked inside the class's peer cohort. The rating methodology →

Methodology documents

Fund liquidity methodology: exit channels, source evidence, liquidity tiers, capacity, timing, and stressed exit costs. Also as a Word download.
Portfolio holdings methodology: source selection, full-depth coverage, the aggregate tail, price projection, position values, FX, and controls. Also as a Word download.
SQX Fund Rating methodology: the measure, the peer rank, the band, and the status column giving the rating's basis.