Overview
Index and ETF derivatives and Shareholding Disclosure require additional constituent data that is expensive and cumbersome to source. Please take a look at the information here.
FundApps’ ETF library provides additional constituent data and matches it to your existing holdings. FundApps uses ETFs tracking Indices as a proxy for true index weightings, providing a more cost-effective way to model your holdings accurately.
Note: The ETF library only provides weightings data and matches between ETFs, Indices and your existing holdings. It does not supply new instrument data.
How the ETF Library Works
Our ETF library is designed as a source for index constituent weightings data. The process works as follows:
Index and ETF selection: ISINs and FIGI codes for indices and ETFs are extracted from clients' position files.
* For Data Adapter clients, this data is automatically pulled (where available) from Bloomberg or LSEG feeds.
It’s a match: The index and ETF ISINs or FIGIs are matched against our ETF library to identify the relevant proxy ETF with complete constituent information. See full coverage here.
Data enrichment: Once matched, the constituents you hold outright are matched to your ETFs or Indices and weightings are automatically added to the positions file, enriching the original position data with detailed constituent breakdowns.
Exposure Aggregation: This enhanced data allows the engine to combine any direct holdings of a particular issuer with indirect holdings through index constituents, providing complete exposure measurement to this specific issuer across positions. European Major and Short Selling Rules would be examples where this is relevant.
Example: EURO STOXX 50 and Siemens Exposure
Consider a portfolio containing:
A short derivative Siemens holding: -0.2% of ISIN: DE0007236101
A short derivative index exposure: Holdings in EURO STOXX 50 Index (EU0009658152)
How the System Works
Index Identification: The system identifies the index and matches it to the proxy ETF.
Index: EURO STOXX 50 Index
Proxy ETF: iShares Core EURO STOXX 50 UCITS ETF EUR
Constituent Matching: Our ETF library enriches the index instrument with weightings of your constituents, such as including Siemens (DE0007236101) with its specific weighting within the index.
Indirect Exposure Calculation: The system calculates the client's indirect Siemens exposure through the EURO STOXX 50 position, based on Siemens' weighting in the index. You can find more information on this calculation here.
Siemens equivalent shares via derivative on EURO STOXX 50: -0.1%.
Total Exposure Aggregation within the result.
FAQs
Do you list every constituent of the index in the positions file?
No, we only add weightings of the constituents which you hold outright. We can source all constituents for Data Adapter clients, but in most cases, the cost of all the constituent market data would outweigh the benefit, as it would incur extra costs from your market data provider.
Yes, if you want to. If you wish to include all constituents of the index/ETF in your positions file, we can. Please get in touch with your CSM or IM.
What data do you provide?
For every constituent you directly hold, we provide the relationship between the composite and constituent, alongside its weighting.
Could I get more Missing Data after turning on Composites?
Yes, because now more instruments can be considered in scope. Please see further info here.
I have a composite that is not covered by FundApps. Could you expand your coverage?
Possibly! Please let us know what you trade, and we can see if we can expand our coverage. FundApps aims to provide coverage for large, popular national, multi-national, and regional indices.
Where does FundApps get the constituent data from?
EDI (Exchange Data International) is our main data provider.