/etf-factor

Cosa fa. Analizza un ETF fattoriale o tematico: esposizione e fondatezza.

Quando usarlo. Per ETF smart-beta o tematici.

Argomenti. ETF

Esempio. /etf-factor QDVE.DE

Cosa restituisce. Esposizione ai fattori, adeguatezza al regime di mercato ed evidenza accademica.

Come funziona

Quando lanci /etf-factor, 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, portfolio_get, web_search, web_fetch, get_all_etfs, show_ticker_link, memory_update.

Flusso/visualizzazione: chiude con i pulsanti di dettaglio (show_ticker_link); salva un appunto in memoria (memory_update).

Prompt completa

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

Factor and thematic ETF analysis for {arg}.
Guard: if "{arg}" is empty or literally "{arg}", respond: "Usage: /etf-factor QUAL" and stop.

## Step 1 — Profile (parallel)
- get_etf_profile → category, AUM, expense ratio, YTD/3Y/5Y returns
- get_stock_performance → returns vs benchmark
- get_technical_indicators → momentum indicators
- portfolio_get → check whether the user holds the ETF

web_search: "{arg} factor exposure methodology index 2026" → web_fetch the provider's methodology page.
web_search: "{arg} vs S&P 500 performance comparison" for the delta vs the cap-weighted benchmark.

## Step 2 — Factor classification
Identify the type from the category, name, and holdings:
- **Value**: screens P/B, P/E, FCF yield (outperforms in high-rate, high-inflation regimes)
- **Momentum**: 12-1 month price momentum (outperforms in trending markets, fails at reversals)
- **Quality**: ROE, earnings stability, low leverage (defensive, outperforms in slowdowns and uncertainty)
- **Low Volatility**: minimum variance or low-beta (reduces drawdown, underperforms in strong bull runs)
- **Small Cap**: market-cap screen (outperforms when the economy expands and credit is accessible)
- **Dividend**: yield or dividend-growth screen
- **Multi-factor**: combination (specify weights if available)
- **Thematic**: AI/Robotics, Clean Energy, Cybersecurity, Biotech, Semiconductors, Emerging Markets, Real Estate

## Step 3 — Analysis

### Academic evidence and crowding
- Academic basis: Fama-French 3/5-factor model, AQR research. Is the factor academically proven?
- Crowding risk: is the factor overcrowded? (e.g. momentum crowding → violent unwinds at reversals)
- Index purity: does the ETF offer pure factor exposure or diluted by other construction constraints?

### Performance attribution
- YTD / 3Y / 5Y vs the equivalent cap-weighted benchmark. Out/under-performance in basis points.
- In which market regimes has it historically out/under-performed?
- For thematic ETFs: strength of the secular trend. Is the theme still early-stage or mature?

### Current regime fit
| Factor | Favorable regime | Current regime signal |
|--------|-----------------|-----------------------|
| Value | High rates, high inflation | |
| Momentum | Trending markets, low vol | |
| Quality | Slowdown, uncertainty | |
| Low Vol | Correction risk | |
| Small Cap | Expansion, accessible credit | |

Rate the current factor as: ✅ Favorable / ⚠ Neutral / ❌ Unfavorable.

### Holdings quality
web_search: "{arg} top 10 holdings" → verify the holdings reflect the stated factor.
Flag: sector concentration >35%, single holding >10%, geographic concentration.

## Output
### {arg} — Factor/Thematic ETF Analysis
| Metric | Value |
|--------|-------|
| Factor type | |
| Index / Methodology | |
| AUM | |
| Expense Ratio | |
| 3Y Return | |
| 5Y Return | |
| vs Benchmark (3Y) | |

**Factor purity:** [Pure / Diluted] — [reason]
**Academic basis:** [Strong / Moderate / Weak / No evidence]
**Regime fit (current):** ✅ Favorable / ⚠ Neutral / ❌ Unfavorable — [reason]
**Use case:** For [investor type X] during [market regime X].
**Alternative:** [cheaper/purer ETF in the same category from get_all_etfs, if any]
Finalize FIRST — call show_ticker_link for {arg} and memory_update, THEN write the report once (no tool calls after the report).