How to Compare Passive Giant 13Fs Without Getting Fooled

Don't Compare Dollars, Compare Weights Normalize by AUM Check deviation from benchmark (active share) Look at edges — small positions where passive and active diverge def active_share ( filer_weights , benchmark_weights ): return sum ( abs ( fw - bw ) for fw , bw in zip ( filer_weights , benchmark_weights )) / 2 Full guide: https://13finsight.com/learn/how-to-compare-vanguard-blackrock-state-street-13fs-without-getting-fooled?utm_source=devto&utm_medium=social&utm_campaign=article_ops_0319 Originally published at 13finsight.com