Portfolio problems rarely announce themselves. NAV erosion starts small. Distribution cuts are telegraphed months in advance for those tracking coverage ratios. This workbook gives you the 8 worksheets to catch both before they become crises.
A 5% NAV decline in year 1 becomes a 23% decline over 5 years if the cause isn't addressed. The NAV Stability Scorecard catches the trend early.
Coverage ratios below 1.0x consistently precede distribution cuts by 3-6 months. The Coverage Ratio Worksheet gives you the early warning signal.
Most retirees know their current income level but can't say whether it's higher or lower than last year. Chapter 8 fixes this with a year-over-year income tracker.
Chapters marked Most Relevant are specifically applicable to your situation.
The specific cases where quarterly auditors caught NAV erosion 6 months before it became critical.
A systematic review process for every position: yield, NAV change, coverage ratio, total return.
How to calculate and track coverage ratios for each holding, with thresholds.
A scoring system for each holding based on 12-month NAV trend and volatility.
How to track whether income is growing, flat, or declining on a position-by-position basis.
For REITs, BDCs, and MLPs — how to evaluate whether distributions are sustainable.
A visual framework for deciding when to hold, trim, or exit a position.
How to track whether total portfolio income is growing, and by how much.
8-worksheet annual audit
Review coverage ratios, NAV stability, distribution changes, and rebalancing decisions with a repeatable holding-by-holding process.
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