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Security Appears in the Security List But Does Not Appear In Register Drop Down Security List

JoelC

The title says it all with the following details:

i) I use Quicken to track my investments.

ii) I have number of securities including multiple iShare securities per teh below image:

Screenshot 2023-12-28 at 12.59.20 PM.png

iii) The highlighted security appears in the security list (as noted in the above page) but it does not appear in the register dropdown security list which means I cannot enter transactions related to the security.

iv) The problem noted in iii) only occurs with this one security (i.e., all other securities — including the other iShare securities) appear in the register dropdown security list.

QUESTION: How do I fix this?

Thank you.

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Windows

Accepted answers

Jim_Harman

Change the security type from Market Index to Mutual Fund like your other ETFs.

In Quicken the Market Index security type is reserved for actual market indexes, like the Dow Jones Industrial Average or the S&P 500., and you are not allowed to own them.

Boatnmaniac

The Type of that ETF shows as being "Market Index". But it should be "Stock" because it is an index fund that mirrors the S&P 100. Change the Type to "Stock" and it will then be visible in the drop-downs.

Market Index should only be used with the various market indices, such as the S&P 100, the Dow, the Nasdaq, etc., and they will never be selectable in the register or transactions drop-downs because they are not securities.

All comments

Jim_Harman

Change the security type from Market Index to Mutual Fund like your other ETFs.

In Quicken the Market Index security type is reserved for actual market indexes, like the Dow Jones Industrial Average or the S&P 500., and you are not allowed to own them.

Boatnmaniac

JoelC

@Jim_Harman and @Boatnmaniac

i) Appreciate the help / solution. That worked perfectly!

ii) I will be back in an hour or two after I finish beating the crap out of myself for not seeing the "obvious"! 🤯😜

Much thanks!

q_lurker

Take some credit for including the screenshot. It made the diagnosis immediate without need for our conjecture. Your self-flogging punishment is hereby waived.

The principle there is Quicken saying you cannot buy a Market Index, though you can buy an ETF or mutual fund that models itself on an index.

It is subject to personal opinion whether an ETF should have a Security Type of Stock, Mutual Fund, or is worthy of its own user-defined Security Type. I lean toward Mutual Fund.

JoelC

@q_lurker , appreciate your input noting:

i) Appreciate the kindness but including a screenshot is tablestakes because how else can others possibly help!

ii) I am done wth the self-flogging! It was quick with long lasting effects! :)

iii) I am in agreement. I have changed them all to mutual funds as I think this is the best description.

Again, much thanks!

Boatnmaniac

I had mentioned it should be "Stock" because ETFs are generally comprised of stocks and mirrors a stock index, segment, industry, region, etc. That was my personal choice even though I did not assign it that way to my ETFs. When Fidelity downloaded my ETF securities the Type was automatically set to Stock.

But I wholeheartedly agree that MF is good choice and is perhaps a better one. The ETF (or MF) is a composition of stocks and that can be captured by assigning it as such in the Asset Class.

Rocket J Squirrel

There is an advantage to classifying ETFs as Mutual Funds. On the Investing > Allocations page, Quicken will show Morningstar ratings for them along with actual MFs.

JoelC

I too believe that Mutual Fund is best because one buys units of the funds, including fractional units. It may be my education / professional training but when one buys units in a fund, it is a mutual fund!

I too recognize that I could be wrong but such is my thinking!

PS. I don'y out much stock "pun intended" into how / what a FI classifies securities as they sometimes lack the breadth of categories to properly classify items! Just my $0.02!

JoelC

@Rocket J Squirrel

On the Investing > Allocations page, Quicken will show Morningstar ratings for them along with actual MFs.

How / where as I don't see this capability. Is this a US centric feature (which would explain why I don't see it as I am in Canada)?

Rocket J Squirrel

I know nothing about the Canadian version. Here's what I see in the US version. I had been using "ETF" as the security type, but I think I will change them all to MF just for this capability. So here only a few of my ETFs appear because I haven't changed them all yet.

JoelC

@Rocket J Squirrel appreciate the response.

Apologies but let me be clearer in my question. What specific menu selection / process is followed to bring that up as I see nothing referring Morningstar in either Investing menu bar list OT the Investing tab.

Thank you!

Rocket J Squirrel

Investing Menu (or Tab), then Allocations. Perhaps this is only available in Premier or higher, I don't know. What edition of Q are you running?

JoelC

@Rocket J Squirrel , appreciate the response.

I am running Quicken for Windows Business and Personal which is the "top dog"!

The only options / windows I see are as below (which does not show Morningstar):

I wonder whether Morningstar is US only option (in the same way that I do not have / show Portfolio X-ray)!

Perhaps someone from Quicken can chime in!

PS. I am somewhat relieved that I was not missing anything!

Rocket J Squirrel

You use a lot of exclamation points! It must be a US thing! Sorry!

JoelC

@Rocket J Squirrel very good, well said.

I think generally not. I was surprised about the fact that i) I could not see Morningstar and ii) the differences between the Canadian and US versions, it is staggering.

I wonder why they would not simply have 1 version for both countries other than the obvious tax differences (i.e., I do not understand the logic for excluding Morningstar, Portfolio X-Ray, etc.).

Jim_Harman

Maybe the Morningstar data is not available for Canadian securities, or it costs extra and Quicken does not want to pay for the limited number of Canadian users.

JoelC

Morningstar is absolutely available for Canadian securities. I purchased it in the past for work purposes.

Perhaps someone from Quicken can chime in.

q_lurker

@JoelC See if your Portfolio view(s) offer this type of information (a std Mutual Funds show with column for Ticker added).

With VOO as a MF, Morningstar data appears. If VOO is a stock, that data is blank (like the Apple data).

JoelC

@q_lurker , it does not work at all in that:

i) it shows all securities, not just mutual funds (you have the same issue by the way, as AAPL is being shown) and

ii) there is no option to include / show Morningstar data (i.e., there is no Morningstar data field / option to add).

iii) this is leading me to conclude that Morningstar is a US only thing.

Perhaps someone from Quicken can provide a definitive answer to this.