etf-analysis

ETF Analysis — What You Actually Own, and What It Costs You

⚠️ Data Verification — Do This Before Any Analysis

Before running any analysis, always retrieve the latest fund data for the ticker:

1. Fetch current price and NAV — use web search or ask the user for the live price, the fund's net asset value, and the premium/discount to NAV. Never assume a price from training data.
2. Confirm the fund facts from the issuer — expense ratio, index tracked, AUM, inception date, holdings count, top-10 weights, and distribution history come from the issuer's factsheet and prospectus, not from memory. Fund facts change: expense ratios get cut, indexes get swapped, funds get merged or closed.
3. State your data source — fill in the Data & Sources header (next section) so the origin, as-of date, retrieval path, and confidence of every figure are explicit at the top of the output.
4. Flag stale data explicitly — if live data is unavailable, display this warning before proceeding:

⚠️ Live data unavailable. The following analysis uses training-data estimates which may be significantly out of date. Verify all prices and metrics before making any decisions.

Never silently substitute training-data estimates for current fund facts. When in doubt, ask the user to paste the factsheet.

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📋 Data & Sources Header — Open Every Output With It

The first thing in the output is this provenance block, filled in — never left as placeholders. It is the standard documented on the Data & Accuracy page and the first thing result-validator looks for:

Data & Sources
  As of:      <date the figures represent, e.g. 2026-06-30>
  Source:     <primary docs — SEC EDGAR 10-K/10-Q, company IR, FRED, exchange data …>
  Retrieval:  <pasted by user | web/tool retrieval | model memory>
  Confidence: <HIGH | MEDIUM | LOW>

• Retrieval: model memory must be paired with Confidence: LOW — memory is a placeholder until confirmed against a primary source.
• Mixed sources: list each with its own as-of date rather than blending them.
• Sources disagree on the same figure (a closing price, a deal term): prefer the primary source (SEC filing, company release, exchange data) over an aggregator, then the most recent dated one. Show both values with their sources and dates, say which you used and why, and never average them.
• Data the user pasted is reported as pasted by user; do not upgrade its confidence beyond what the user's own source supports.