NOTES AND DISCLOSURES

DAYOSS Scores

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Fund Explorer basics

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Basics

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<p>The Suitability, Risk and Reward scores are proprietary scores created by DAYOSS that combine the <span style="background-color:rgb(255,255,255);">fund's historical </span><span style="background-color:#ffffff;color:#000000;">behavior </span><span style="background-color:rgb(255,255,255);">(risk and reward) and properties (fees and length of history) </span>with your preferences.</p><h3>Suitability Score</h3><p>The Suitability Score gives an idea of the suitability of the fund relative to other funds given your preferences. It is always between 0 and 10 with the most suitable funds given a score of 10. Here are a few examples to explain it more:</p><ul><li>If your preferences fall under the low risk profile, <span style="background-color:rgb(255,255,255);">good performing bond funds will usually have a higher Suitability Score than good performing equity funds.</span></li><li><span style="background-color:rgb(255,255,255);">If your willingness to pay fees is high, then fees factor little in the Suitability Score, and funds with better historical performance will have a higher score.</span></li><li><span style="background-color:rgb(255,255,255);">If your willingness to pay fees is low, then a low fee fund will have a slightly higher score than a high fee fund, even if the two funds have had similar historical performance.&nbsp;</span></li><li><span style="background-color:rgb(255,255,255);">Of course, when the performance of the high fees fund is significantly higher, it will still have a higher Suitability Score!</span></li></ul><h3><span style="background-color:rgb(255,255,255);">Reward Score</span></h3><p><span style="background-color:rgb(255,255,255);">The Reward Score is calculated using a combination of the historical <strong>performance </strong>of the fund and your <strong>preferences</strong>. It is influenced by your bias towards recent or overall performance, your willingness to pay fees, and any emphasis placed on length of track record.</span></p><h3><span style="background-color:rgb(255,255,255);">Risk Score</span></h3><p><span style="background-color:rgb(255,255,255);">The Risk Score is calculated using a combination&nbsp;of the historical <strong>risk </strong>of the fund and your <strong>preferences</strong>. It is influenced by your perception of the type of risk and any emphasis placed on length of track record.</span></p><p>&nbsp;</p><div class="raw-html-embed"><style>
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<p>DAYOSS has developed a proprietary technique to group each fund according to its historical behavior and performance &nbsp;only without regard to the stated objective of the fund, as the latter can misleading and we favor a data-driven approach over a pre-label driven one. For example, a general precious metals miners fund whose behavior shows a strong exposure to gold miners could be grouped with gold miners. Or, for example, a broad equity fund that is behaving more like a growth-biased equity fund could be grouped with other growth funds over broad equities.</p><p>&nbsp;</p><h3>Group Names</h3><p>Group keywords are extracted from the textual data of the funds in the group and combined to create a group name. Different groups whose primary keywords are identical are given an added number at the end in order to distinguish them. For example, a fund in large gold mining companies and one in smaller or ancillary gold mining companies could have sufficiently different data to warrant being separate groups. But, as they would have the same primary keywords “gold mining”, DAYOSS will then name them Gold-Miners1 and Gold-Miners2 respectively.</p><p>&nbsp;</p><div class="raw-html-embed"><style>
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<p>DAYOSS' Portfolio Builder is a unique product that tries to answer some of the queries any investor faces and individual retail investors have particular difficulty solving. Given a certain set of preferences, risk tolerance, willingness to pay fees, preferences for long history and so on, how do you:</p><ul><li>Structure your portfolio in general? For when you have no constraints on how want to structure your investments.</li><li>Structure your portfolio if you have a particular exposure that you want to invest in or stay invested in? For when you either have a constraint, like unvested stocks, or a particular asset or theme you would like to have in your portfolio.</li><li>Reoptimize a pre-existing portfolio in a way that better matches your preferences? For when you think your portfolio can be more aligned with your preferences either by reweighting, or substituting certain assets with similar funds that are higher rated on the <a href="/en/article/dayoss-scores">Suitability Score</a>.</li></ul><p>DAYOSS approaches these problems in a unique way. We believe the user should always remain in the driving seat. As such DAYOSS makes suggestions of portfolios that might warrant your consideration and gives you the tools to help you in your decision. All portfolios given by DAYOSS fall high on the <a href="/en/article/dayoss-scores">Suitability Score</a> scale, but they have variations that translate into different Risk and Rewards. The Performance chart and the Risk/Reward chart are there to aid in your decision making.&nbsp;</p><h3>Portfolio Configurator</h3><p>The portfolio configurator allows you to input funds, stocks or themes. To <a href="/en/article/portfolio-basics">Build a portfolio from scratch</a>, leave it empty. To <a href="/en/article/complete-your-partial-portfolio">Complete a partial portfolio</a>, add the assets you want to have in your portfolio and leave the Total % to be less than 100%. To <a href="/en/article/optimize-and-reweight-your-existing-portfolio">Optimize and reweight your existing portfolio</a> add your assets and make sure the Total % sums to 100%.</p><figure class="image image_resized" style="width:55.86%;"><img src="https://cdn-assets.productfruits.com/3dbc6ea8-e578-42e7-8c25-63419270911a"></figure><h3>Portfolio output types</h3><p>Depending on your use case, DAYOSS will output different portfolio types. Hover over the name to see a quick description of the output and click on it to select it. The different types of portfolios are explained below.</p><figure class="image image_resized" style="width:75.69%;"><img src="https://cdn-assets.productfruits.com/e1b19350-4333-4ca7-b382-3862a86acd90"></figure><ul><li><strong>New</strong>: This portfolio assumes that the input configuration is empty. The New portfolio has a high <a href="https://hkvyvn97a9tfgww.productfruits.help/en/article/dayoss-scores">Suitability Score</a>. When you leave the Portfolio Configurator empty, you get 6 of them. They all have high Suitability Score, but differing Risks and Rewards and may warrant consideration given your preferences.</li></ul><figure class="image image_resized" style="width:60.95%;"><img src="https://cdn-assets.productfruits.com/dfc46d3e-7241-41f2-bfb2-fa5c1976212c"></figure><ul><li><strong>Complete</strong>: When you input a partial portfolio, the Complete portfolio type will appear in the created portfolio list. The weights of the input portfolio are kept as they are or are slightly modified for numerical computations purposes. All funds from the input configuration are kept as they are, but themes and stocks are replaced by high <a href="/en/article/dayoss-scores">Suitability Score</a> proxy funds.</li></ul><figure class="image image_resized" style="width:39.88%;"><img src="https://cdn-assets.productfruits.com/5abf100c-167a-4563-8da7-32ff56663856"></figure><ul><li><strong>Sub &amp; Complete</strong>: This portfolio is identical to the <strong>Complete</strong> portfolio and it appears in the case of a partial portfolio input. However, it also substitutes any funds in the input by the fund with the highest <a href="/en/article/dayoss-scores">Suitability Score</a> within its <a href="/en/article/dayoss-groups">Group</a>.</li></ul><figure class="image image_resized" style="width:22.42%;"><img src="https://cdn-assets.productfruits.com/8c9b6b43-9ad4-4913-a2b5-c166051af901"></figure><ul><li><strong>Re-weight</strong>: When you input a complete portfolio with the Total % summing up to 100%, the <strong>Re-Weight</strong> portfolio type appears in the portfolio list. The weights of the input portfolio are changed in a manner that aims to increase the <a href="/en/article/dayoss-scores">Suitability Score</a>. Assets in your configuration whose contributions to the portfolio make it less in line with your preferences will have their weights set to 0 and removed but DAYOSS will attempt to keep them even with a low weight whenever possible. All Themes and Stocks are substituted by high <a href="/en/article/dayoss-scores">Suitability Score</a> proxy funds.</li></ul><figure class="image image_resized" style="width:23.67%;"><img src="https://cdn-assets.productfruits.com/e62c7cb1-8da8-4535-b114-c5db8cca787f"></figure><ul><li><strong>Substitute</strong>: When you input a complete portfolio with the Total % summing up to 100%, the <strong>Re-Weight</strong> portfolio &nbsp;type appears in the portfolio list. The weights of the input portfolio are kept as they are or are slightly modified for numerical computations purposes. Any funds in the input are substituted by the fund with the highest Suitability Score within its <a href="/en/article/dayoss-groups">Group</a>. Themes and stocks are substituted by high <a href="/en/article/dayoss-scores">Suitability Score</a> proxy funds.</li></ul><figure class="image image_resized" style="width:26.4%;"><img src="https://cdn-assets.productfruits.com/6c285e5b-8f57-471c-b481-f2755df4007a"></figure><ul><li><strong>Input portfolio</strong>: When you input a complete portfolio with the Total % summing up to 100%, AND if all the input assets are funds, the <strong>Input Portfolio</strong> type appears in the portfolio list. Use this portfolio in the <strong>Performance Chart</strong> to compare to the generated portfolios.</li></ul><figure class="image image_resized" style="width:27.17%;"><img src="https://cdn-assets.productfruits.com/2e479bde-46d7-4c9a-9dfb-a5bf1bbbcaa5"></figure><p>&nbsp;</p><h3>Specific portfolio table</h3><p>The specific portfolio table shows the constituents of the generated portfolios. In the example below, we have set up a configuration with 10% SPY (an ETF fund), 10% AAPL (a stock), and 10 % Healthcare (a theme). In this example, the Specific portfolio table shows one way the portfolio could be implemented using funds.</p><figure class="image image_resized" style="width:59.91%;"><img src="https://cdn-assets.productfruits.com/8d94908a-7025-49ac-a7a9-f16d3cec44ad"></figure><p><strong>Is proxy of</strong>: The "Is proxy of" column in the table indicates that this fund is either a similar but a higher <a href="/en/article/dayoss-scores">Suitability Score</a> fund than the fund input in the configuration or a replacement for the stock or theme input in the configuration. In this example, subject to a specific &nbsp;set of preferences, SPY was replaced with ELFNX, a similar fund that belongs to the same BLEND LARGE-CAP2 <a href="/en/article/dayoss-groups">Group</a> but with higher Suitability Score, Healthcare was replaced by IYH, a high Suitability Score fund in the HEALTHCARE GLOBAL <a href="/en/article/dayoss-groups">Group</a> and finally AAPL was replaced with XLK, a high Suitability Score fund in the INFORMATION TECHNOLOGY <a href="/en/article/dayoss-groups">Group</a>.</p><figure class="image image_resized" style="width:60.13%;"><img src="https://cdn-assets.productfruits.com/7b2389e1-7035-4fab-bbac-6fa1230525b7"></figure><p><strong>Stems from configuration</strong>: If an asset (or its proxy) is present in the configuration it's weight is highlighted and a "Stems from configuration" hover is added over it. In the example.</p><figure class="image image_resized" style="width:27.78%;"><img src="https://cdn-assets.productfruits.com/5ac09ddd-473a-475e-879a-1a2e35e225a6"></figure><h3>Thematic portfolio</h3><p>The Thematic view of the selected portfolio is there to help you explore similar funds to the ones shown in the Specific portfolio table above. In our example, FSELX (15%), RTH (15%), XLK (10%) and FBGRX (5%) are considered to be similar (part of a larger growth theme), and the Thematic view shows 35% in their <a href="/en/article/dayoss-groups">Groups</a>. You are encouraged to click on each <a href="/en/article/dayoss-groups">Group</a> and see which funds are in them, bookmark them to see them in the fund explorer or add them to the portfolio configuration.</p><figure class="image image_resized" style="width:82.07%;"><img src="https://cdn-assets.productfruits.com/0af6e930-8909-4ef3-8421-7324d6cc2bd5"></figure><h3>Performance and Risk/Reward chart</h3><p>The <strong>Performance chart</strong> shows the portfolio of each generated portfolio with the selected one highlighted in bold. Funds that have <a href="/en/article/dayoss-fund-extentions">Extended History</a> make the entire portfolio extended, so the portfolio chart will show that the portfolio is extended at that date.</p><figure class="image image_resized" style="width:84.69%;"><img src="https://cdn-assets.productfruits.com/b995f21c-4f48-4f54-9144-34f9298edaa5"></figure><p>&nbsp;</p><p>The <strong>Risk/Reward</strong> chart shows the DAYOSS personalized Risk and Reward of each portfolio. All the generated portfolios have high <a href="/en/article/dayoss-scores">Suitability Scores</a> and may warrant your consideration. But they also have varying risk within a range compatible with your preferences. This is useful to help you decide where you would like to be in terms of risk and is meant to encourage you to explore the assets and themes.</p><figure class="image image_resized" style="width:83.99%;"><img src="https://cdn-assets.productfruits.com/52aab2bf-ae89-4c42-bfd8-a1c73331374a"></figure><p>&nbsp;</p><p>You can also add any fund to the charts with the "Select benchmark" button.</p><figure class="image image_resized" style="width:26.89%;"><img src="https://cdn-assets.productfruits.com/11052a51-f17b-481b-8222-accfbb698d7b"></figure><h3>&nbsp;</h3><div class="raw-html-embed"><style>
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<h3>Investing in funds requires multiple factors to consider</h3><p>The DAYOSS fund explorer is designed to be an innovative twist on traditional fund screeners. There are too many factors to consider when choosing an investment fund in a particular theme, the main ones being:</p><ul><li>Performance</li><li>Risk</li><li>Fees&nbsp;</li><li>Length of existence&nbsp;</li></ul><p>to name a few. When using a traditional fund screener, if you choose restrictive filters, you risk missing out on funds that could be of interest and if you choose less restrictive filters you end up with a very large number of funds that you need to study and compare before taking a decision. This process is timely and requires considerable knowledge.&nbsp;</p><h3>Focus on what and when</h3><p>We want you to focus on what to invest in and when to invest it and let DAYOSS tell you which fund is most suitable for you. Instead of filters and levers you need to fiddle with, DAYOSS asks a series of proprietary questions designed to extract your preferences about the factors mentioned above. These preferences are then combined with the historical performance of the fund and each fund is assigned a <a href="/en/article/dayoss-scores">Suitability Score</a> that is unique for you, the higher the score, the more suitable this fund is. For more information about the DAYOSS scores please see the <a href="/en/article/dayoss-scores">Basics</a> section of the help.</p><div class="raw-html-embed"><style>
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