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Please add ETF (and other customizability) to security/asset types (78 Legacy Votes)

I don't like using "Other" for my ETFs. Please add ETF to security types.
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BTW, Qmac does not have that option.
ETF are automatically shown as Mutual Funds
but you are right that type of product is big- wide spread enough to have its security type in QM
Note: This conversation was created from a reply on: Please add ETF to security types.
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(Canadian
The 8 defined security TYPES provided in the program are not granular enough to allow me to differentiate the types of securities I have. I want to be able to create my own Security TYPEs
At least with your windows version I had the ability to create some (limited #) asset categories in the custom field. I NEED that with the Mac version to continue using it effectively to balance my portfolio between major asset classes (Domestic Small Cap Value, Domestic Small Cap Growth, Int Small Cap Growth, etc. Emerging Markets Foreign VS Domestic Bonds, etc.
SO, an ETF that holds International Stocks is an "International Stock" class.
And ETF that holds the Dow 30 is a "Large Cap Stock" class.
ETF, itself, isn't a class and doesn't need to be added, as a class to Q.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
I own ETFs ... and I have them classified upon what they hold ... not that they're an ETF ... which is NOT an asset class. It's an asset type ... much like funds vs holding stocks directly.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
There is a "Type", and there is an "Asset class".
There certainly can be a EFT "type", but there shouldn't be a EFT "Asset class".
In Quicken Windows you can add whatever types you like, but there are only a fixed number of Asset classes. And note that the Asset classes are use in other parts of Quicken to combine similar investments for performance tracking purposes and assets mixes.
It makes no sense to track the performance or asset class EFT.
Like NotACPA you track what they hold.
The Asset Class on the other hand is tied into what is possible to download from the "quotes service(s)" Quicken Inc pays for. So even though there would be a concern that if customizable asset classes were added then Quicken would basically have no idea what to do with them. They would be purely manually maintained.
For instance they certainly wouldn't update automatically when say an mutual fund/ETF changes its mix, or in the MorningStar X-Ray portfolio. And the "rebalance portfolio" on the investment tab wouldn't know what to do with them.
The asset class list should have more items. Large Cap, Small Cap, International Stocks, Domestic and International Bonds - too broad. At the very least the list should also include Mid Cap Stocks. Keep International Stocks for those who want a broad view, but for those who want to see more detail I suggest: International Large Cap Stocks, International Small/Mid Stocks, Emerging Markets Stocks. Under Domestic Bonds, keep that category for those who want to keep their view broad; but for those of us who would like more detail, I suggest: Short-term Bond, Government Bond, Intermediate-term Bond, Inflation-Protected Bond, High Yield Bond, Multi-Sector Bond. In addition to International Bond you could add Emerging Markets Bond. Other basic Morningstar categories (instead of "Mixed/Multiple") I suggest: World Stock, Domestic Balanced, Global Balanced. Finally, "Alternatives" would be a catch-all for remaining categories. I'm purposely leaving out "Growth" and "Value" because that would essentially double the stock lists.
Currently for the most part Quicken maintains the ones it has because it can get that information from its provider. So as mutual fund/ETF changes its mix over time, it changes in Quicken.
It doesn't matter if your financial institution supports different asset mixes, Quicken doesn't have access to that information. You will have to maintain it for each of your securities that you customize.
Answer: Large Cap Stock for the S&P500, Domestic Bond for that ETF and International Bond for that ETF.
The ETF's are asset TYPES, not asset Classes.
User assigned asset classes are meaningless.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Anyone asking for an asset class of ETF clearly doesn't know what an asset class is. And that is how this thread started. On the other hand customized "security types" quite "do able", and Quicken Windows already supports them, so Quicken Mac should probably get them too.
But then past that there are people in this thread that clearly do know what an asset class is. Like the request for Mid Cap. And if they really want/need them, I would say it is a valid request, but I doubt the people requesting it understand all the ramifications, as in Quicken can't support them automatically and tools like the MorningStar X-Ray won't do anything with them either.
Anyone who is arguing for "user defined asset classes" needs to explain how their proposed asset classes meet this definition.
AND, they need to explain how an S&P500 ETF and a Bond ETF "exhibit similar characteristics".
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
That is clearly not the case. There is clearly a need for Quicken Mac to get the same customization for the "security type" as is already in Quicken Windows.
On top of that even without them being automatically updated there is purpose for having custom asset classes.
Here is an example from my INVESTING -> Allocations view:
The "No Asset Class" is in fact my Lending Club Notes.
These do not behave like any of the built in asset classes.
For the people not familiar with these notes these are where a person takes out an unsecured personal loan. And the investors each take a small part of that loan.
So investors typically have a large amount of very small loans. Far more than Quicken could ever track as loans. So instead most people track them as a security, that is bought (take on part of a loan), sold (received a payment), pays interest, and are charged off (sold for zero).
I certainly don't want to lump their performance with any of the built in asset classes, so I don't. I put them in "No Asset Class" and know they are my Lending Club notes.
But of course this only works for one extra asset class.
And of course it also means that the guides and such don't have a clue on how to deal with them. But frankly I don't use those guides anyways.
It is the "Type" that has an Edit box, not the Asset class.
So if the Mac version was to have "parity" with the Windows version the only thing that would be added is the ability to edit the security type. And clearly people really do want to add asset types.
And as such the feature would need to be added to BOTH Mac and Windows versions.
For any discussions or votes dealing with Asset CLASSES, you can add your VOTE to
Add ability to customize the asset class menu.
First, click on the underlined link above to go there, then click VOTE at the top of THAT page, so your vote will count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.
While you are at it, you may want to add your VOTE to related IDEAS found on the
List of Requests Related to Investments. Click on the underlined link, then follow the instructions to add your vote to more related ideas. Your VOTES matter!
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- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
REITS
Preferreds
Debentures
Convertible Debentures
Options
The current choices available are so lame. Canadians stocks owned by Canadiana are listed as foreign stocks. And there are other illogical choices we have to make too.