🧪 Beta Release - This tool is in Beta and actively being refined based on user feedback.
Overview
The ETF Tearsheet provides comprehensive analysis of exchange-traded funds (ETFs), delivering fund facts, top holdings, price performance, historical returns, sector breakdown, and country allocation in a structured markdown format. This tool consolidates essential ETF data into a single view for quick analysis and comparison.When to Use
The ETF Tearsheet is ideal for:- ETF overview and fund facts: Understanding basic ETF characteristics and structure
- Expense analysis: Reviewing total expense ratio (TER) and fee structure
- Holdings analysis: Examining top holdings and portfolio composition
- Asset allocation: Understanding sector breakdown and country allocation
- Performance tracking: Monitoring price performance and historical returns
- Risk assessment: Analyzing volatility, max drawdown, and technical indicators
- Concentration analysis: Evaluating portfolio concentration via Herfindahl-Hirschman Index (HHI)
- NAV premium/discount: Tracking ETF pricing relative to net asset value
- ETF research: Comprehensive analysis for investment decisions and portfolio construction
How It Works
The ETF Tearsheet follows a multi-step process to ensure accurate ETF identification and data retrieval:- Call: A call is made to
find_securitieswith ETF name, ticker, or ISIN - Extract: The
idfield is extracted (used asrp_entity_id) andtypefield is verified as “ETF” - Call: A call is then made to
bigdata_etf_tearsheetwith therp_entity_id - Optionally: A call is made to
bigdata_searchfor recent ETF news and analysis
Parameters
| Parameter | Type | Required | Description |
|---|---|---|---|
rp_entity_id | string | Yes | RavenPack entity ID - exactly 6 alphanumeric characters. Must be obtained from find_securities. |
Important Notes
- The
rp_entity_idmust be exactly 6 characters - Always obtain this ID from
find_securities- the workflow ensures correct ETF identification - The
typefield fromfind_securitiesshould be “ETF” to confirm it’s an exchange-traded fund
Data Returned
The ETF Tearsheet returns seven comprehensive sections, each as a markdown table:1. Fund Overview
Essential fund characteristics and structure:| Field | Description |
|---|---|
| ISIN | International Securities Identification Number |
| Asset Class | Primary asset class (Equity, Fixed Income, Commodity, etc.) |
| Currency | Trading currency |
| NAV | Net Asset Value per share |
| AUM | Assets Under Management (total fund size) |
| Expense Ratio (TER) | Total Expense Ratio - annual fee percentage |
| Holdings Count | Number of securities in the portfolio |
| Inception Date | Fund launch date |
| Domicile | Legal domicile/incorporation country |
| Provider | ETF issuer/provider (e.g., BlackRock, Vanguard, State Street) |
| Avg Volume | Average daily trading volume |
| Exchange | Primary listing exchange |
2. Top 10 Holdings
Portfolio composition and concentration:| Field | Description |
|---|---|
| Rank | Position in portfolio (1-10) |
| Asset Name | Security name |
| Shares | Number of shares held |
| Market Value | Current market value of position |
| Weight (%) | Percentage of total portfolio |
| Top-10 Weight (%) | Cumulative weight of top 10 holdings |
| HHI | Herfindahl-Hirschman Index (portfolio concentration measure) |
- Low HHI (<1,000): Highly diversified portfolio
- Moderate HHI (1,000-1,800): Moderately concentrated
- High HHI (>1,800): Highly concentrated portfolio
3. Price Performance
Current pricing and technical levels:| Field | Description |
|---|---|
| Last Price | Most recent trading price |
| Day Change | Price change from previous close ($ and %) |
| Market Cap | Total market capitalization of the ETF |
| 52-Week High | Highest price in past 52 weeks |
| 52-Week Low | Lowest price in past 52 weeks |
| 50-Day MA | 50-day moving average |
| 200-Day MA | 200-day moving average |
| Premium/Discount to NAV | ETF price vs NAV (positive = premium, negative = discount) |
4. Returns Overview
Historical performance across multiple periods:| Period | Description |
|---|---|
| 1D | 1-day return |
| 5D | 5-day return |
| 1M | 1-month return |
| 3M | 3-month return |
| 6M | 6-month return |
| YTD | Year-to-date return |
| 1Y | 1-year return |
| 3Y | 3-year annualized return |
5. Risk & Technical
Risk metrics and technical indicators:| Metric | Description |
|---|---|
| Realized Volatility (20D) | 20-day historical volatility |
| Realized Volatility (60D) | 60-day historical volatility |
| Max Drawdown (1Y) | Largest peak-to-trough decline over past year |
| RSI (14-period) | Relative Strength Index across multiple periods |
- Volatility: Higher values indicate greater price fluctuation
- Max Drawdown: Measures worst-case loss scenario
- RSI: >70 = overbought, <30 = oversold
6. Sector Breakdown
Portfolio allocation by economic sector:| Field | Description |
|---|---|
| Sector Name | GICS sector classification |
| Weight (%) | Percentage of portfolio allocated to sector |
7. Country Allocation
Geographic portfolio distribution:| Field | Description |
|---|---|
| Country Name | Country of security domicile/listing |
| Weight (%) | Percentage of portfolio allocated to country |
- Geographic diversification analysis
- Regional exposure assessment
- Currency risk evaluation
- Geopolitical risk concentration
Understanding the Data
Fund Overview Insights
AUM (Assets Under Management):- Larger AUM generally means better liquidity and tighter spreads
- Very small AUM (<$50M) may face closure risk
- Rapid AUM growth/decline signals strong inflows/outflows
- Lower is better - directly reduces returns
- Equity ETFs: 0.03%-0.20% is typical for broad market
- Specialty/thematic ETFs: 0.40%-0.75% is common
- Active ETFs: 0.50%-1.00%+
- Longer track record provides more performance history
- Newer ETFs lack long-term data but may offer innovative strategies
- Higher volume = better liquidity and tighter bid-ask spreads
- Low volume may result in higher trading costs
Top Holdings Analysis
Concentration Risk:- Top-10 Weight >40%: High concentration - significant single-stock risk
- Top-10 Weight 20-40%: Moderate concentration
- Top-10 Weight <20%: Well-diversified
- Measures portfolio concentration across all holdings
- Lower HHI = more diversified
- Higher HHI = more concentrated (higher single-position risk)
- Compare holdings over time to track portfolio changes
- Large position changes may signal rebalancing or strategy shifts
Price Performance & NAV Premium/Discount
Premium/Discount to NAV:- Premium (+): ETF trading above net asset value
- May indicate strong demand or illiquid underlying holdings
- Creates arbitrage opportunity for authorized participants
- Discount (-): ETF trading below net asset value
- May indicate selling pressure or illiquid market conditions
- Can present buying opportunity
- Typical Range: ±0.5% is normal for liquid ETFs
- Concern Threshold: >±2% sustained premium/discount warrants investigation
- Price above 50-day and 200-day MA: uptrend
- Price below both: downtrend
- 50-day crossing 200-day (golden cross): bullish signal
- 200-day crossing 50-day (death cross): bearish signal
Returns Analysis
Comparing Timeframes:- Short-term (1D-1M): Tactical positioning, momentum assessment
- Medium-term (3M-6M): Trend identification, relative performance
- Long-term (1Y-3Y): Strategic allocation, benchmark comparison
- Compare ETF returns to its stated benchmark index
- Tracking error = difference between ETF and benchmark returns
- Lower tracking error = better index replication
Risk Metrics
Volatility:- Low (<10%): Stable, low-risk (bond ETFs, low-vol equity)
- Moderate (10-20%): Typical equity ETF volatility
- High (>20%): Leveraged, sector-specific, or emerging market ETFs
- Shows worst peak-to-trough decline
- Critical for risk tolerance assessment
- Compare to investor’s acceptable loss threshold
- >70: Overbought - potential pullback risk
- 30-70: Neutral range
- <30: Oversold - potential bounce opportunity
Sector & Country Allocation
Sector Concentration:- Compare to broad market (S&P 500: ~30% Tech, ~13% Financials, ~13% Health Care)
- High sector concentration = sector-specific risk
- Use for sector rotation strategies
- Developed Markets: US, Japan, UK, Germany, France, Canada
- Emerging Markets: China, India, Brazil, South Korea, Taiwan
- Frontier Markets: Vietnam, Pakistan, Kenya, etc.
- Many global ETFs overweight US (60%+ allocation)
- True diversification requires intentional international exposure
Use Cases
ETF Selection & Due Diligence
Evaluate multiple ETFs tracking the same index or sector to identify the best option based on expense ratio, liquidity, tracking error, and holdings.Portfolio Construction
Analyze sector and country allocations to build diversified portfolios and avoid unintended concentration risks.Expense Optimization
Compare TERs across similar ETFs to minimize costs and maximize net returns over time.Risk Management
Use volatility and max drawdown metrics to assess whether an ETF fits your risk tolerance and portfolio objectives.Tactical Trading
Monitor price performance, moving averages, and RSI to identify entry/exit points for tactical positions.Rebalancing Decisions
Track returns across timeframes and compare to benchmarks to determine when to rebalance portfolio allocations.NAV Arbitrage Monitoring
Track premium/discount to NAV for potential arbitrage opportunities or to avoid overpaying/underselling.Sector Rotation Strategies
Use sector breakdown to implement sector rotation based on economic cycle positioning.Geographic Diversification
Analyze country allocation to ensure appropriate geographic exposure and manage geopolitical risk.Concentration Analysis
Review top holdings and HHI to understand single-stock risk and portfolio concentration levels.Practical Tips
Comparing Similar ETFs
When evaluating multiple ETFs tracking the same index:- Expense Ratio: Lower TER directly increases returns
- AUM: Larger funds typically have better liquidity
- Tracking Error: Check which replicates the index most closely
- Bid-Ask Spread: Lower spreads reduce trading costs
- Premium/Discount: Consistent tight premium/discount indicates efficiency
Red Flags to Watch
- Sustained NAV premium >2%: May indicate overpaying
- Shrinking AUM: Potential closure risk
- High tracking error: Poor index replication
- Very low volume (<100k shares/day): Liquidity concerns
- Extreme sector concentration (>50% in one sector): Undiversified risk
ETF vs Mutual Fund
ETF Advantages:- Intraday trading (vs end-of-day NAV for mutual funds)
- Generally lower expense ratios
- Tax efficiency (in-kind creation/redemption)
- Transparent daily holdings
- Trading commissions (though many brokers now commission-free)
- Bid-ask spread costs
- Potential premium/discount to NAV
Frequency of Monitoring
- Daily: For actively traded positions or short-term tactical trades
- Weekly: For core portfolio holdings and rebalancing assessment
- Monthly: For long-term strategic allocations
- Quarterly: For annual review and tax-loss harvesting evaluation
Combining with Other Tearsheets
- Company Tearsheet: Analyze top holdings in detail when they represent significant ETF weight
- Country Tearsheet: Review macroeconomic conditions for countries with high allocation
- Market Tearsheet: Compare ETF performance to broader market trends
- Sentiment Tearsheet: Gauge sentiment on major holdings when ETF shows unusual performance