Fund Allocation Architecture
10% Active Heavy
50% Milestone
90% Passive Index
Historical & Crisis Scenarios
Inject Stock Shocks
Grossman-Stiglitz Paradox: If markets are fully informationally efficient because everyone indexes, nobody has an incentive to collect costly fundamental data. Thus, extreme indexing guarantees severe mispricing.
Live Microstructure Order Feed
Market Telemetry & Feedback
Price Discovery Index
78.4
Mispricing Spread
3.8%
Active Alpha Margin
-0.62%
Intra-Index Correlation
41.2%
Performance & Fee Drag
Passive Index Fee:
5 bps (0.05%)
Active Manager Fee:
75 bps (0.75%)
Gross Active Alpha:
+0.13%
Net Alpha after Fees:
-0.62%
Systemic Health Status
Equilibrium Tipping Zone (52% Passive)
Passive flows mechanically buy entire baskets regardless of company earnings. Active managers suffer fee erosion while dampening mispricings.