ETF Performance Ranking Methodology

Purpose

The methodology ranks eligible UCITS ETF and ETP share classes using provider-reported fund NAV total returns. It is a comparison of published provider performance evidence, not an assessment of product quality, suitability or expected future return.

Unit of analysis

Currency, hedging and distribution share classes remain separate entries. Two share classes of the same fund are ranked independently and may appear at different positions.

Source hierarchy

• Document identity is verified against the registry ISIN before values are used.
• The provider reporting date printed on the document is recorded with the value.
• Only fund NAV total returns are accepted.
• Benchmark and index values are excluded.

Eligibility requirements

• The share class belongs to a production-provider universe.
• A valid reporting date is present.
• The reporting date satisfies the freshness threshold.
• The extracted value meets the minimum extraction confidence.
• The share class carries a supported asset class and ranking category.
• The performance basis is a valid fund NAV total return.
• No benchmark values are admitted.

Only performance figures from provider documents with reporting dates inside the approved freshness window are eligible for ranking.

Period treatment

Unavailable periods are not estimated, interpolated or derived.

Ranking categories

• Equity ETFs — Global, regional, sector, thematic and factor equity exposures.
• Bond ETFs — Government, corporate, aggregate and inflation-linked bond exposures.
• Commodity ETFs — Broad commodity, energy and agricultural exposures.
• Real Estate ETFs — Listed property and REIT equity exposures.
• Money Market ETFs — Short-duration cash and money-market instruments.

Categories with no eligible ranked values for the selected period are not displayed. They reappear automatically once a publication contains eligible values.

Public display caps

Caps apply identically to every period. They are a public display rule, not an eligibility rule: the underlying eligible population and publication evidence are unchanged, and eligible share classes outside the cut are simply not shown. Where fewer entries than the cap are eligible, the page states the actual count instead of a cap label.

Ordering and ties

Within a category and period, entries are ordered by the published rank produced by the production run: descending fund NAV total return for the period. Ranks are assigned deterministically, and equal returns retain the deterministic order produced at publication, so a given publication always renders in the same sequence.

Independence

ETF rankings are determined exclusively by Grovcap’s published methodology. Providers cannot pay to improve their ranking. The same published rules are applied consistently to every eligible share class; sponsored placement is not part of the ranking calculation, ETF providers cannot purchase a higher position, and commercial relationships do not influence ranking outcomes.

Exclusions

• Stale values outside the freshness window.
• Values below the minimum extraction confidence.
• Share classes in unsupported or unmapped categories.
• Values whose annualization basis cannot be determined.
• Invalid, malformed or missing values.
• Benchmark and index values.
• Records with incomplete document evidence.

Limitations

• Rankings are share-class level, not fund level.
• Rankings do not reconstruct daily returns or performance series.
• Different reporting dates may exist between entries within the accepted freshness window.
• Currency and hedging differences materially affect comparability.

Versioning

ETF Performance Ranking Methodology · Version 1.0 · Effective 4 August 2026

Future changes to sources, eligibility, period treatment, categories, caps or ordering are versioned and documented here before they take effect.

Information only

Past performance is not a reliable indicator of future results. This page is information only and is not investment advice.