Which positions create overlapping exposure?
An allocation question asks how a portfolio is divided — by asset class, sector, region or currency. What counts is the weight of each slice against the total, and the look-through into funds: an ETF is not one holding but hundreds.
Worked through on a sample portfolio. The figures below are that portfolio’s, not yours.
Here are the instrument pairs in your portfolio that share underlying company exposure, with the number of shared companies and the combined value of that overlap:
| Asset | Shared with | Shared companies count | Combined shared value (€) |
|---|---|---|---|
| iShares Core MSCI World UCITS ETF | Xtrackers MSCI USA UCITS ETF 1C | 248 | 6.104,49 |
| iShares Core MSCI World UCITS ETF | iShares Core MSCI EM IMI UCITS ETF USD (Acc) | 4 | 83,55 |
| iShares Core MSCI World UCITS ETF | SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 1 | 8,44 |
What this shows is which ETF pairs in your holdings share underlying companies and how much value that shared exposure represents.
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The assistant answers the same question about your own holdings, with your figures and today’s prices. Import from your broker, or open the demo portfolio and ask it there.