# Brinson-Fachler Performance Attribution Report

This report presents a Brinson-Fachler performance attribution of a U.S. large-cap portfolio versus the Dow Jones Industrial Average benchmark, using yfinance price data and quarterly portfolio weights mapped to a 12-month analysis window.

## Data and Methodology
- Universe: 30 U.S. large-cap stocks, with sector classifications obtained from yfinance where available.
- Benchmark: Synthetic equal-weight benchmark built from the same universe for Brinson-Fachler attribution, alongside the actual Dow Jones Industrial Average index for performance comparison.
- Period: Last 12 completed months with valid monthly returns for all series.
- Attribution model: Brinson-Fachler decomposition into allocation, selection, and interaction effects at the sector level, aggregated to total active return.

## Performance Summary
- Cumulative portfolio return: 0.18596
- Cumulative synthetic benchmark return: 0.320256
- Cumulative Dow Jones Industrial Average return: 0.173624
- Cumulative active return vs synthetic benchmark: -0.134296
- Cumulative active return vs Dow Jones Industrial Average: 0.012337

## Attribution Overview
- Total allocation effect: 0.031799
- Total selection effect: -0.094593
- Total interaction effect: -0.046867
- Total attribution (sum of effects): -0.109662

Top positive sectors by cumulative attribution: Unknown, Consumer Defensive, Communication Services.
Top negative sectors by cumulative attribution: Technology, Basic Materials, Consumer Cyclical.

Allocation, selection, and interaction effects by sector and month, as well as reconciliations between active returns and total attribution effects, are documented in the accompanying Excel and CSV tables and visualized in the exported HTML charts.