Activity score
Compare portfolio turnover rates and trading intensity across top investment funds to understand management style
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Understanding portfolio activity score
The Activity score measures portfolio turnover and trading intensity of top investment fund managers. By analyzing both position count changes and portfolio value movements, this metric reveals whether fund managers are active traders or passive buy-and-hold investors.
Portfolio turnover analysis provides critical insights into management style, focus and tax costs. High activity levels may indicate responsive portfolio management and tactical asset allocation, but also result in higher transaction costs and potential tax implications. Low activity suggests a patient, long-term investment approach with higher focus (value-style) and tax efficiency.
Count-based turnover
Percentage of holdings with position changes, revealing portfolio restructuring activity
Value-based turnover
Total portfolio value impacted by trading activity, weighted by position size
Why trading activity matters for investors
Investment strategy insight
Reveals whether fund managers are tactical traders, long-term value investors, or follow a balanced approach
Portfolio risk profile
Frequent portfolio changes may indicate reactive management style or disciplined rebalancing strategies
Tax implications
Higher trading activity means more potential tax implications, impacting overall investment expenses
How the activity score works
Our Activity score uses statistical z-score normalization to measure portfolio turnover and compare trading activity across all investment funds:
Period-based normalization ensures fair comparison of fund manager trading activity even as market conditions change over time.
By comparing activity levels within each reporting period, we account for market-wide trends where all managers may trade more actively during volatile conditions or remain steady during calm markets. This approach isolates individual manager behavior from broader market influences.
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