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Next filing · Form 10-Q · Q2 2026 · 54 daysFactor Research · Part 2 published: risk structure in 13F filings across five allocator stylesAPI Update · AOM portfolio chains — single snapshot call for multi-step analyze flowsAPI Update · POST /api/snapshot — canonical JSON portfolio snapshotPart 3 · The One Manager Skill That PersistsPart 1 · One Position, Four BetsNext filing · Form 10-Q · Q2 2026 · 54 daysFactor Research · Part 2 published: risk structure in 13F filings across five allocator stylesAPI Update · AOM portfolio chains — single snapshot call for multi-step analyze flowsAPI Update · POST /api/snapshot — canonical JSON portfolio snapshotPart 3 · The One Manager Skill That PersistsPart 1 · One Position, Four Bets
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Concept · Portfolio performance & risk decomposition

Tracking error

The volatility of portfolio-minus-benchmark return; the size of the active risk.

In depth

The volatility of the active return (portfolio minus benchmark). The size of the active bet — pairs with active share to separate concentrated conviction from closet indexing.

Formula

TE = std(r_p − r_benchmark)

In the methodology

How this compares to traditional risk models →

Referenced by (0)

No working paper references this concept yet.

Related concepts

Portfolio variance decompositionRisk contributionPortfolio attributionActive shareBenchmark fitSharpe ratioDrawdown
← Active sharePortfolio performance & risk decomposition · 5 / 8Benchmark fit →
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