Direct Indexing

Direct indexing replicates an index (e.g. the S&P 500) by holding the underlying stocks directly instead of a fund. That unlocks two things a fund can't: continuous tax-loss harvesting at the single-stock level, and personalization (exclude sectors, tilt factors).

Getting started

1. Open Direct Indexing and pick a benchmark to track.
2. Set your tracking-error tolerance and any exclusions.
3. The optimizer builds a portfolio that tracks the index within your tolerance.
4. The Direct-Index Simulator projects after-tax alpha from harvesting over time.

Why it helps

• Tax alpha — losses are harvested at the stock level even when the index is up.
• Control — screen out holdings you don't want; tilt toward value, quality, or ESG.
• Transparency — you own the names, not an opaque wrapper.