The Rock Score is ten factors, ten points each, added up to 100. Every factor has a written definition and published cutoffs. Scores are relative to the fund's peer group, so compare inside a group, not across groups. The score describes quality for the fund's stated role. It is not a buy or sell call.
The ten factors
- Mandate clarity (Structure)
- Diversification (Structure)
- Fees (Cost)
- Trading efficiency (Cost)
- Total return (Performance)
- Downside resilience (Performance)
- Capital preservation (Performance)
- Distribution dependability (Distributions)
- Distribution coverage (Distributions)
- Canadian tax fit (Tax)
Rules
- Equal weights. A fee gap counts the same as a capital preservation gap, and the five pillars are shown so you can see where the points come from.
- A fund with less than three years of history is stamped Provisional. We score what exists, we never invent a long-term score.
- A factor that does not apply is left out and the score is rescaled over the factors that apply, with the count disclosed.
- Return of capital is interpreted, not penalized by default.
- Every score change is dated, explained, and kept in the revision history.