Performance by Security

The purpose of the Performance by Security report is to see the returns of the total portfolio and individual holdings, as well as the overall portfolio returns of the account as of a specific time range.

To access this report, open a transactional account of a client and from the top menu, click on Reports, Performance, Performance, and then By Security.

Note: This report can also be generated from the client level as an aggregated or segregated report for all accounts within that client. Additional options are available when generated from the client level.

Report Options

1. The Use account inception date as Start Date option is controlled by an account setting. To access this setting, open an account and then go to Profile/Settings menu on the left. Click on the Account Profile page and scroll down to the Performance Start Date option. From here, you can enter a specific date or check the Use First Transaction Date option. Please note that if the Use First Transaction Date option is selected, you cannot type in the field or use the calendar to select a date until you uncheck the option.

2. Click the drop-down menu and select Yes or No to include a Cover Page.

3. Specify a Start Date for the report. The date can be typed into the field or use the drop-down calendar to select a date. Note: If you checked the option to Use account inception date as Start Date, this option will not be available.

4. Specify an End Date for the report.

5. Specify the Fee Type to be included on the report. When Net of Fees is selected, the return will be calculated after Management Fees have been taken out; Gross of Fees will include Management Fees.

6. Click the dropdown menu associated with the Return Type option and select Use IRR or Use TWR. Click here for more information on the IRR and TWR calculations.

7. The next option allows you to choose between two columns. When neither option is checked, the Percent Asset column will display by default. This column weights the holding within the account and displays as a percent held within the account. To remove this column from the report, place a checkmark next to Hide Percent Asset Column. You can then choose to Include Management Fees Column by selecting that option. When selected, this column displays the fees assessed against each holding for the reporting period.

8. Select Mask Account Number to limit the amount of an account number that is displayed on the report. This inserts a level of security when reports are e-mailed to clients or uploaded to the Web via the Client Web Portal. Click here to see how the masked account number will be represented (based on the number of characters in the account number).

   Number of Characters in Account Number	Masking Formula
   6 or less characters	All characters are presented as an asterisk (*)
   7 characters	Only character 3 is an asterisk (12*4567)
   8 characters or more	The account number shows the first two numbers and the last four numbers. All numbers in between are represented by an asterisk. Examples: 8 characters = 12**5678 15 characters = 12*********2345

    

9. If you select Display Stock Option Strategies, the report will contain open option positions that Morningstar can match with other open positions to form an option trading strategy. For example: a short call option matched with a long position in the underlying security is a covered call strategy.

Note: The option security has to have the underlying security symbol listed for this information to populate. To verify or add this information, go into the Definition Master, User Defined Securities, Securities page. Find the security in the grid, then right-click on it, and select Edit. Click on the Detail tab at the top of the security record, enter the Underlying Security Symbol, and then click Save and Close.

9. If you choose to include a Cover Page, you can also use the option to Add disclosure to cover page. Click here for more information.

   Prior to selecting this option, the cover page disclosure must be set up under the Home tab, Settings page. Under the Portfolio Account System Settings, select Reports, Tax Lot Methods, Transactions, Management Fees settings. From the toolbar above the grid, select New Disclosure, and then New Cover Page Disclosure. Once the new disclosure is saved, you are returned to the Settings grid where you should now be able to see your disclosure listed.

   Once the disclosure has been created, you will need to associate the disclosure with a Report Setting from the Settings grid. Make sure this is the Report Setting that is then attached to the account (Profile/Settings, Account Settings, Reports). If your Account Settings reflect Use Client Default Setting, make sure the correct Report Setting is selected at the Client level.

10. When selected along with using a cover page, the Add blank 2nd page option inserts a blank page between the cover page and first page of the report.

Additional Client Level Report Options

When the Report Accounts Aggregated option is selected, the program combines all the client's accounts and treats them as one account. If the Report Accounts Segregated option is selected, all of the client's accounts are displayed individually within one PDF. The options can both be selected and will generate two separate reports.

Report Contents

Click here for a report sample.

The information below describes each column of the report.

Account Name - This heading changes based on the selected account type. It will be the account name if the report is for a single account, "account aggregates for 'client name'" if the report is for account aggregates, or "client aggregates for 'client name'" if the report is for client aggregates.

Security Name - The security name for all holdings in the account.

Beginning Market Value: The total market value of each holding in the account as of the report start date. Calculations vary based on the type of investment. Click here for calculations.

Capital Inflow - A measure of the total amount of the securities purchased or reinvested. These transactions affect the values displayed: Buy, Distribution Reinvest, Long-Term Capital Gain Reinvest, Short-Term Capital Gain Reinvest, and Management Fee. To verify a calculation for a holding, right-click on the holding and select View Transactions. You can then add a data filter to search for specific transactions.

Capital Outflow - A measure of all sales or dividend/interest payments derived from the security. These transactions affect the values displayed: Distribution Reinvest, Long-Term Capital Gain Reinvest, Short-Term Capital Reinvest, and Sell. To verify a calculation for a holding, right-click on the holding and select View Transactions. You can then add a data filter to search for specific transactions.

Period Gains/Losses - The increase or decrease of the value of the security over the reporting time period. Calculations vary based on the type of investment. Click here for calculations.

Earned Income - A total of dividends and incomes received during the reporting time period. Transactions affecting this value include: Distribution, Distribution Reinvest, Interest, Income, and Income Reinvest.

Ending Market Value - The total market value of each holding in the account as of the report end date. Calculations vary based on the type of investment. Click here for calculations.

Percent Asset - The assets of all the holdings/grouping level as a percentage of total assets in the account.

Management Fee - The net of management fee transactions and sell to pay fee transactions. Note: This column is only visible when both the Hide Percent Asset Column and Include Management Fee Column options are checked.

TWR / IRR -  The percentage return of the securities in the portfolio. Click here for additional information on the TWR and IRR calculations.

Return Notes: 1. If a percentage shows as a dash (-), this indicates there is insufficient data to calculate a return.  2. Returns are annualized for periods greater than one year.

Note: If no price for a security is provided, then the purchase price is used. If there has been no purchase price provided, then, for cash and cash equivalent securities, the price of 1 is used. For all other security types, the price of 0 is used.