/etf-bond

Cosa fa. Analizza un ETF obbligazionario: duration, yield, qualità e sensibilità ai tassi.

Quando usarlo. Per la componente obbligazionaria del portafoglio.

Argomenti. ETF

Esempio. /etf-bond AGGH.MI

Cosa restituisce. Duration, yield to maturity, qualità del credito e rischio tassi.

Come funziona

Quando lanci /etf-bond, Dexter non esegue codice fisso: invia all’AI la prompt qui sotto — il segnaposto {arg} viene sostituito con ciò che scrivi dopo il comando — e l’agente la esegue chiamando da sé gli strumenti necessari. Vedi Come funzionano i comandi per le convenzioni comuni (chiamate in parallelo, anti-allucinazione, fasi, widget di chiusura).

Strumenti che può usare: get_etf_profile, get_stock_performance, get_technical_indicators, get_treasury_yields, portfolio_get, web_search, web_fetch, get_all_etfs.

Prompt completa

È la prompt esatta inviata all’AI quando usi il comando (sostituendo {arg}).

In-depth bond ETF analysis for {arg}.
Guard: if "{arg}" is empty or literally "{arg}", respond: "Usage: /etf-bond TLT" and stop.

## Step 1 — Local data (parallel)
- get_etf_profile → AUM, expense ratio, category, dividend yield, YTD/3Y/5Y returns
- get_stock_performance → YTD, 1Y, 3Y performance
- get_technical_indicators → RSI, SMA20/50 (momentum)
- get_treasury_yields → yield curve (2Y/10Y/30Y, 10Y-2Y spread) for rate context
- portfolio_get → check whether the user holds the ETF

## Step 2 — External bond data
web_search: "{arg} duration yield to maturity credit rating holdings"
web_fetch the provider page (iShares, Vanguard, SSGA, Xtrackers, Amundi, PIMCO).
Extract: effective duration (years), yield to maturity (YTM), average rating, maturity distribution, geographic/issuer breakdown, replication (physical vs synthetic).

## Step 3 — Analysis

### Rate sensitivity
- Duration rule: each +1% rate rise → roughly −duration% NAV loss (and vice versa).
  Example: duration 8 years → −8% if rates +1%.
- Combined-risk rule: if duration >6Y AND average rating <BBB → HIGH risk, flag for position reduction.
- Current rate context from get_treasury_yields: rates rising / falling / plateau?

### Credit quality
- Rating breakdown (AAA/AA/A/BBB/HY/NR). Split investment grade (≥BBB) vs high yield.
- Credit spread trend: widening (risk-off) or compressing (risk-on)?
- Default risk in a stress scenario (HY: ~2-4% annual default rate in normal markets).

### Income profile
- YTM vs dividend yield (YTM = forward return if held to maturity; div yield = current coupon).
- Distribution frequency (monthly / quarterly). Accumulating vs distributing.
- For EU investors: Irish/Luxembourg domicile → favorable WHT treatment on dividends.

### Efficiency and liquidity
- Expense ratio vs peers in the same category (get_all_etfs filtered for bonds).
- Physical replication preferable (synthetic = counterparty risk).
- AUM: prefer >€500M for adequate liquidity.

## Output
### {arg} — Bond ETF Analysis
| Metric | Value | Assessment |
|--------|-------|------------|
| Effective duration | | ↑ rate risk if >5Y |
| Yield to Maturity | | Forward return |
| Average rating | | IG/HY boundary at BBB |
| Expense Ratio | | |
| Dividend Yield | | |
| YTD Return | | |
| 3Y Return | | |
| AUM | | |

**Rate scenarios:**
- Rates +1%: estimated NAV impact = −[duration]%
- Rates −1%: estimated NAV impact = +[duration]%

**Verdict:** Role in portfolio (capital preservation / income / inflation hedge / total return). Key risk (duration / credit / currency). Suitable for: [conservative/dynamic investor with horizon X].