Your index funds are not a bank
The Sectors chart filed every ETF under Financial Services. It now names what a fund is, and your holdings carry their country and currency.
If you held an index fund, the Sectors chart had something odd to tell you: that a huge share of your money sat in Financial Services. It was wrong, and here is why.
Our market data provider answers the question "what sector is SPY" with the sector of the company that issues it, which is an asset manager. So SPY, VOO, QQQ and every London-listed UCITS fund came back as Financial Services, and the chart added them all up into one large and completely fictional slice.
What it says now
A fund is now labelled as a fund. We would rather name the wrapper honestly than repeat a confident wrong answer, and the rest of the chart is unchanged: a bank still shows as Financial Services, because that is what it is.
Nothing about your holdings changed and there is nothing to re-enter. Open the Sectors tab and it will simply have re-drawn.
Two more things your holdings now know
- Country, so the Countries and Regions tabs stop filing shares under Unspecified.
- Currency, so a holding quoted in pounds or Canadian dollars is counted in pounds or Canadian dollars rather than read as US dollars.
That second one could quietly overstate a total, so it is worth a look if you hold anything outside the US. The live demo has been rebuilt around the same idea, with holdings in four currencies across the US, the UK and Canada.
