True Exposure LOOKTHROUGH
Recursive look-through exposure across supported funds. For same-ticker holdings without fund expansion, use DIRECT overlap.
Based on each fund’s disclosed top-10 holdings only — estimated exposure, not full fund look-through.
Load a Portfolio First
True Exposure looks through the funds in your loaded portfolio. Connect a broker or upload holdings to get started.
How look-through exposure is calculated
LOOKTHROUGH mode recursively expands supported funds into their underlying holdings, multiplies weights along every path, stops cycles at a five-level depth limit, and aggregates repeated paths without retaining both a resolved parent and its children. For example, if two ETFs each represent half a portfolio and each holds a company at 10%, that company produces roughly 10% combined look-through exposure before unsupported positions and rounding.
Interpreting the results
Use the ranking to spot concentration hidden inside several funds. Compare direct positions with indirect exposure and ask whether the largest companies, sectors, or themes match your intended diversification. A small allocation to a concentrated ETF can still create a notable underlying position.
Limitations
The default Equity / reference view excludes cash collateral and fixed income; choose another asset scope to include them. Negative disclosed weights remain signed. Economic/reference exposure is kept separate from physical holdings, and derivatives without a supported reference asset remain explicitly unresolved. Fund holdings can be delayed, incomplete, or reported on different dates. Results are estimates, not real-time risk measurements.
As a final check, compare the effective weights with your original portfolio targets. A result is most actionable when it identifies a specific unintended exposure that you can confirm in current holdings files, rather than when it is used as a standalone diversification score.