How we calculate concentration

Updated September 11, 2026.

How we measure concentration

We count how many holdings it takes to reach half a fund's money. A fund can hold hundreds of companies while a few dozen of them are half the fund. We sort every holding by weight, add them up from the largest down, and report where the total crosses 50%. Recomputed daily from full holdings, not the top ten.

Top 10 share

We add the weights of a fund's ten largest resolved company holdings. A higher percentage means more of the portfolio is carried by its largest positions. The market histogram groups funds into 20-percentage-point bands using this measure.

Holdings needed to reach half

We sort resolved company holdings from largest to smallest and count how many are needed for their cumulative weight to reach 50%. A lower count means fewer holdings carry half of the fund.

Why we show both

Nominal holding count alone can be misleading: a fund can own hundreds of stocks while most of its weight sits in a small group. Top 10 share shows the weight at the top; holdings to 50% shows how quickly the portfolio accumulates.

Resolution and scope

The calculation uses resolved company holdings and their portfolio weights across the qualifying equity ETF universe. Funds dominated by swaps, other funds or unresolved instruments are excluded rather than assigned a misleading concentration figure.