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Off-topic? Or fund-related? I can't decide. Re: Morningstar

CrashCrash
edited February 2017 in Off-Topic
Don't trust those X-Ray numbers. Jesus, that place is like Amateur Hour. The pie-chart tells me I own 48% US equities, 7% foreign, and 38% bonds of all sorts, with 2% "other." I can sorta figure what "other" means.
The numbers tonight somehow struck me as hinky. So, in that other spot where the drill-down as to geographical weightings are shown, I added them up: 12.12% foreign--- that is to say, beyond North America. (USA and Canada, although in school, we learned that Mexico is included in North America. Anyhow, I've come to accept that re: this kinda stuff, Mexico gets thrown into "LATIN America." OK.) ... Morningstar tells me 87.88% of my stuff is in North America, and 48% is in the USA, if by "domestic," they mean USA! That means 39.88% in Canada. (This is equities, NOT bonds, mind you.) Along with 12.12% foreign, it comes to 100% (of equities.) But 7% is not even near 12.12%. ....So much for the value of the premium membership I get through TRP, because I hold X amount in my portfolio with TRP. Harumph. Crud. Can you say, "unreliable," boys and girls? I just KNEW you COULD.

Comments

  • msf
    The 7% foreign in your first breakdown is a percentage of your total portfolio. Given that only 55% of your portfolio is equity (48% + 7%), that means that your foreign equity as a percentage of equity is 7%/.55 = 12.72%. Okay, some rounding error, but reasonably close.

    Likewise, that 48% of your total portfolio in the US means that 48%/.55 = 87.27% of your equity is in the US. The remainder of the 87.88% could be rounding error, or it could be Nanook hunting furs up in Canada (small cap).
  • CrashCrash
    Thanks, @msf. I think that's helpful. In any case, their labeling needs to be more precise and specific. I'm not a professional money guy, but I know how to read and work with simple sums. If I don't "get" it, then they are just being sloppy. Again, I say: "Harumph."
  • msf
    The first table (that contained the 7% figure) is labeled "asset allocation". I think that most people here understand AA to be a breakdown along the lines of cash, bonds, and stocks.

    The second table (that contained the 87.88% figure) is labeled "Total Exposure (% of stocks).

    As always, it helps to first Read The Fine Manual (RTFM):
    http://portfolio.morningstar.com/instantxray/datadef.html
  • davidrmorandavidrmoran
    ooh, thanks, a new and better xlation for RTFM, said the tech writer
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