ETF Glossary

How many percentage points (%p) a single holding added to the ETF's move. Formula: (weight ÷ 100) × the stock's return.

If a 7% NVIDIA position rises +5%, its contribution is 0.07 × 5 = +0.35%p. The identified stock contributions can differ from the ETF's market return because of cash, fees, derivatives and quote timing.

The share (%) of ETF assets a holding takes up. The larger the weight, the more the same return moves the ETF.

In cap-weighted index ETFs, mega-caps naturally carry large weights, so a handful of top names often drive the whole index.

ETF Scanner's core idea: the holding that lifted the ETF most today is the 'hero'; the one that dragged it down most is the 'suspect'.

Even on an up day a stock can be a suspect (it capped the gain); even on a down day a lone gainer is the hero.

Computes 'what if this one stock weren't here'. Exclude a holding, renormalize the rest to 100%, and recompute the return.

It shows intuitively how decisive a mega-cap tilt was for today's result.

How concentrated an ETF is in a few names. HHI sums the square of each weight — higher means more concentrated.

100% in one stock gives HHI 10,000; broad, even diversification approaches 0. High concentration means weak diversification and more single-stock risk.

A volatility measure of how much a stock (or ETF) moves versus the whole market. Beta 1.0 moves with the market; 1.5 swings 50% more.

ETF Scanner reframes this as 'flight risk' — a high-beta name is a volatile suspect that can swing the return sharply.

When different ETFs hold the same stock, your real exposure to that name quietly grows.

Holding S&P 500, Nasdaq-100 and a semiconductor ETF together means Apple/NVIDIA sit in all three — real exposure exceeds what you intended. You think you're diversified but you're betting on one name.

Combines all your ETFs and sums exposure down to individual stocks.

It answers 'what % of my total assets is really Samsung or NVIDIA' — great for finding hidden concentration.

Leverage ETFs target 2× (or 3×) the index's daily move; inverse ETFs target the opposite direction.

The key is 'daily' tracking. They rebalance daily to hold the multiple, so over several days the cumulative return is not simply 2× the index.

The erosion of returns when leveraged/inverse ETFs are held long, caused by volatility. Round trips leave a loss even when the index returns to start.

If the index goes +10% then -9.09% (back to flat), a 2× ETF goes +20% then -18.18% — below par. The choppier the path, the larger the loss.

How much you must gain to recover after a loss. The bigger the loss, the steeper the required rebound.

A -20% loss needs +25%; a -50% loss needs +100% to break even. Especially important for leveraged ETFs.

The annual fee the manager deducts from assets while you hold the ETF. It isn't in the quote; it comes out of NAV a little each day.

0.03% vs 0.5% compounds into a large gap over time. For the same index, the lower expense ratio wins.

The ETF's true per-share value: assets divided by shares. The traded price can sit above or below NAV depending on supply and demand.

In a healthy ETF, market-maker (LP) arbitrage keeps the price close to NAV.

How far the ETF's market price sits from NAV, in %. Price above NAV is a premium (+); below is a discount (−).

Buying at a wide premium means overpaying — worth checking for foreign-index and thematic ETFs.

Buying and selling to match the tracked index's constituent/weight changes, or to keep a target allocation.

Index reconstitution can cluster flows into added/removed names. For a personal portfolio, selling winners and buying laggards to restore target weights is also rebalancing.

An ETF that sells call options on its holdings (or an index) to collect premiums — common in monthly-income products.

In a flat market you earn the premium, but in a big rally you give up part of the upside, so gains are capped.

The gap between a fund's return and its index. Fees come out daily, index changes cost real money to trade, and dividends arrive on a lag — so the two never match exactly.

Picking on fee alone misses this: a cheap fund that tracks poorly can end up behind a slightly pricier one that tracks tightly.

How much a bond fund moves when rates do. Duration of 8 implies roughly an 8% price fall if rates rise one point.

Longer maturities carry more — a 30-year treasury fund can exceed 15. Credit safety (the issuer repays) and price stability are separate things.

Instead of owning the shares, the fund holds a swap: a bank agrees to pay whatever the index returns. Korean funds label this in the name.

Open the holdings and you see swaps and cash, not companies. Common for hard-to-reach indices and commodities, and it adds counterparty risk that physical funds do not carry.

Offsetting currency moves so the return follows the underlying asset alone. Korean funds mark it with an (H).

Helps when your home currency strengthens, costs you when it weakens — and carries an ongoing cost set by the interest-rate gap, separate from the expense ratio.

What a futures-based fund pays to replace an expiring contract. When the next month costs more (contango), every roll books a small loss.

Largest in oil and natural gas funds. It is why the fund can grind lower while the spot price is flat, and why these do not suit long holds.

Cash the fund passes through from dividends, coupons, or option premiums it collected.

A fund committed to a fixed monthly payout can fund a shortfall from its own capital. Judge total return — payout plus price change — rather than the yield alone.

A broker appointed to post continuous bids and offers, which keeps a thinly traded fund tradeable and its price near net asset value.

Their obligation covers defined hours, so quotes thin out and spreads widen right after the open and near the close.

The gap between the best buy and sell price. Crossing it is what makes a trade happen, so every position starts slightly behind.

The expense ratio is charged once a year; the spread is charged on every trade. Trade often and it matters more.

Shares bought minus shares sold by a group of investors over a session. Positive is net buying, negative net selling.

Korea publishes it split by foreign, institutional and retail. Useful context for who is on which side — not a prediction on its own.

How many fund shares exist right now. Net assets divided by this gives net asset value per share.

Market makers create new shares when demand rises and retire them when it falls, so unlike a company's stock the count keeps changing.

The index a fund commits to following. Which names go in or out, and at what weight, all come from that index's rulebook.

So "what will this ETF hold" is really a question about the index. Similarly named funds that behave differently usually track different ones.

Giving every holding the same weight. Unlike cap weighting, the largest companies get no extra pull — the same holdings become a different product.

It tilts toward smaller names and rebalances regularly by trimming winners, which costs more to trade.

The mix of identified stocks, normalised using absolute weights to a total of 100%. Use it to compare which stocks make up the basket.

Exposures of 30%, 60% and 210% become composition shares of 10%, 20% and 70%. This stock-only mix can differ from the allocation of total net assets when cash or derivatives are excluded.

A holding's signed exposure relative to ETF net assets. In leveraged and inverse funds it can differ from the stock composition share.

Assuming 3x exposure, a 10% composition share corresponds to 30% exposure; at -3x it corresponds to -30%. Actual values depend on disclosed or estimated inputs. Contribution uses the exposure weight and stock return without applying the fund multiplier again.