How to read an ETF report

What it measures. What the fund holds (top 25 positions, sector and country weights), how concentrated it is, what it costs (expense ratio), how closely it follows its index, and how its price has moved against its own moving averages. Grades such as "Good" for cost or "Concentrated" for sector exposure follow fixed thresholds shown in the report.

How to read it. Start with concentration: the share of the top 10 holdings tells you how much of the fund is really five or six companies. Then cost — the expense ratio is shown as a decimal (0.09 = 0.09% a year). Sector weights are compared with a broad-market reference so you can see the tilt.

What it does not say. It does not compare two funds for you and does not rank them. Two funds with the same index can differ in cost, tracking and tax treatment; that comparison is what the Peer Comparison report or a chat question is for.

How to use it. Run it once when choosing between funds that track similar exposures, and again yearly — holdings and fees change. If you hold the fund in a portfolio, the Portfolio Analysis report will show how much of your total sits in the same top names through different funds.