Equity-sleeve coverage72.4%72.3% covered of 99.9% retained equity weight.
Total-fund coverage72.3%Company fundamentals as a share of 100.0% reported fund weight; no reallocation.
Non-company exposure0.1%Cash, derivatives, and other non-equity rows are excluded · tradingview_etf_holdings · Jul 20, 2026 · current.
Partial mapped company sleeve12/12 mapped companies have stored fundamentals, covering 72.4% of the retained company sleeve and 72.3% of fund weight. The remaining 0.1% is non-company exposure, not missing companies. Separately, 8 equity holdings (27.6% of fund weight) remain unmapped.
GPZ — VanEck Alternative Asset Manager ETF factor map
Return factors and risk factors built from stored company fundamentals, price tape, themes, event evidence, liquidity, and flow datasets.
Companies12Ranked inside this universe
Factors5034 ready · 16 partial
Coverage99%Average ready-factor coverage
As ofJul 21, 9:30 PM GMT+8Latest stored factor input
Full factor lab detail queuedThe initial factor map is loaded from the compact snapshot; full histories, heatmaps, validation matrices, and lenses hydrate on demand.
Factor workflow
Navigate the factor engine without scrolling the whole report
Start with attribution quality, move into the action book, then inspect individual factor evidence only when needed.
Factor exposure engine
Explain GPZ — VanEck Alternative Asset Manager ETF through true factor returns
Daily stock-level cross-sectional regressions estimate factor returns from company returns and reusable economic factor exposures. Sector, industry, theme, and country are reporting lenses, not dummy factors used to force-fit the universe return.
For each stored trading day, company returns are regressed against reusable company-level factor exposures. The common market column captures the broad universe tape; style factors explain tilts around that tape.
Lens policyNo fake fit from buckets
Sector, industry, country, and theme are reporting lenses only; they are not dummy variables used to force-fit returns.
Attribution splitWhat is investable versus only explanatory
19 usable factors · 28 diagnostic factors
Common tape-4.76%Broad universe move before active factor interpretation.Rewarded / usable factors-2.99%12 rewarded · 7 risk-controlDiagnostic factors+1.81%28 diagnostic · 0 blockedResidual-0.03%Idiosyncratic return that should flow into company-level research.
Attribution policy. Separate common tape, investable rewarded factors, diagnostic factors, and residual. Diagnostic factors explain movement but are not portfolio-sizing inputs.
Factor action bookWhat to overweight, hedge, block, or research next
Overweight · -2.18% actionable return
Active tilts12Risk controls7Blocked0Research-only28Regime-adjusted12
Small / validation pendingConviction 69 · risk budget 4%
Contribution
-0.63%
Factor return
+4.85%
Exposure
-0.13
Price momentum is a rewarded factor with negative contribution; reduce high exposure until payoff repairs.
Regime-aware sizingSmall / validation pending
No stored regime evidence · best n/a · worst n/a · n/a% survival
No stored regime validation yet; keep sizing small until regime behavior is refreshed.
Coverage passValidation watchPayoff passCrowding failRisk budget passRegime fit watch
Use the action book as a review order. Active tilts require validation, breadth, uniqueness, controlled crowding, and regime survival; diagnostic rows remain research-only.
Model fit disciplineWhen factor attribution is reliable enough to use
High-confidence fit
Current stock-level fit94%Weighted R-squared across latest company returns.Average daily fit84%How often the model explains day-to-day cross-sectional moves.Fit stability100%Share of stored sessions with usable stock-level factor fit.Residual cost+1.34%Average stock-level error; gross residual +0.84%.
Not an accounting identity. R-squared is a stock-level fit diagnostic, not a promise that factors explain every portfolio return dollar. The residual board remains the source of company-specific work.
Use factors for the common tape and major style tilts; send weak-fit pockets into residual research.
Factor trust dashboardCan this attribution guide positioning?
High trust
Trust score76
Can size validated factor tilts, while still reviewing residual outliers and crowding.
Positioning guidanceHigh trust
Can size validated factor tilts, while still reviewing residual outliers and crowding.
Weakest fit dayJun 29, 2026
52% fit · RMSE +0.96%
Residual-dominated days0
Latest fit 97% · average 84%
Required checks before sizing3 passed
Stock-level fitpass84 · Latest and average stock-level fit are strong enough to start with factor attribution.
Residual loadpass9 · Residual sleeve is controlled enough for a factor-first review.
Validation depthwatchn/a · Run forward validation before treating factor payoffs as durable.
Crowding controlfail100 · Top factors or redundant factors dominate; cap position size and avoid double counting.
Diagnostic factor loadpass25 · Most model risk comes from usable rewarded or risk-control factors.
Failure modes2 checks
Validation depthmediumForward validation is not strong enough to treat every factor payoff as durable.
Crowding controlhighA small number of sleeves or overlapping factors can dominate the attribution.
Factor reliability boardWhich factors are investable, confirming, or noisy
54 average reliability · 0 decision-grade factors
Decision-grade tilts0Validated enough for active factor interpretation
No factor clears all reliability gates yet.
Usable confirmation4Useful when independent evidence agrees
ValueUse as a confirming factor alongside other independent evidence.
Reliability
61
Validation
n/a
Crowding
73
SizeUse as a confirming factor alongside other independent evidence.
Reliability
61
Validation
n/a
Crowding
38
BetaUse as a confirming factor alongside other independent evidence.
Reliability
60
Validation
n/a
Crowding
72
LeverageUse as a confirming factor alongside other independent evidence.
Reliability
59
Validation
n/a
Crowding
74
Noisy or incomplete2Needs better validation, coverage, or stability
Earnings revision pressureUse as a descriptive exposure until forward tests are populated.
Reliability
49
Validation
n/a
Crowding
63
Insider alignmentUse as a descriptive exposure until forward tests are populated.
Price momentumUse only as a warning or confirmation; avoid double-counting this factor.
Reliability
71
Validation
n/a
Crowding
98
Catalyst evidenceUse only as a warning or confirmation; avoid double-counting this factor.
Reliability
38
Validation
n/a
Crowding
98
Thematic demandUse only as a warning or confirmation; avoid double-counting this factor.
Reliability
49
Validation
n/a
Crowding
98
Revenue acceleration leadershipUse only as a warning or confirmation; avoid double-counting this factor.
Reliability
60
Validation
n/a
Crowding
98
No factor currently clears the decision-grade validation, stability, and uniqueness gates.Some factors are highly correlated with peers, so do not add their attributions together mechanically.Some factors are descriptive only until forward validation or coverage improves.
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