FAQ / Help
General
Is my portfolio stored online?
No. Your portfolio is not stored online by Fidelis Explorer. My List exists in your browser session, and you control persistence through Export Portfolio and Import Portfolio.
What is Fidelis Explorer?
Fidelis Explorer is an independent analytics tool for Romanian FIDELIS government bonds. It helps investors understand their portfolio through market overview, Coupon Calendar, cashflow planning, Portfolio Statistics, YTM, alerts and historical portfolio information.
Fidelis Explorer is an informational tool. It does not execute trades, place orders or interact with brokerage accounts.
Is Fidelis Explorer affiliated with BVB or the Ministry of Finance?
No. Fidelis Explorer is an independent project and is not affiliated with BVB, the Ministry of Finance, TradeVille, any broker or any financial institution.
Does Fidelis Explorer provide investment advice?
No. Fidelis Explorer does not recommend buying or selling any financial instrument. All calculations are provided for informational and educational purposes only. Investment decisions remain the responsibility of the investor.
Market Data
Where does the market data come from?
Market information is obtained from publicly available data, primarily the Bucharest Stock Exchange (BVB). Fidelis Explorer does not modify market prices.
Why are prices different from my broker?
Market prices may differ slightly depending on the data source, refresh timing, or whether a clean or dirty price is displayed. Fidelis Explorer uses publicly available BVB market data and clearly indicates how each calculation is performed.
How often is market data updated?
The public application displays market information from the latest verified local snapshot. The snapshot is updated separately from the user interface and is usually collected after the previous BVB trading session close.
Why can't I see a newly issued bond?
New issues become available only after they are officially listed for trading on BVB. Until then, they are intentionally hidden because Fidelis Explorer uses BVB as its single market data source.
Why can I only add bonds that are currently traded?
When you add a bond to My List, Fidelis Explorer stores a local snapshot of its characteristics. This keeps your historical portfolio complete even after the bond reaches maturity and disappears from BVB.
My List
What is My List?
My List is your personal portfolio for the current browser session. Add the bonds you own, then specify quantity, purchase type, purchase date and purchase price.
Fidelis Explorer then calculates Remaining Coupons, Remaining Principal, YTM, economic income and Portfolio Statistics.
Can I track multiple purchases of the same bond?
Yes. The same bond can be added multiple times with different purchase dates and purchase prices. Each holding is calculated independently before being aggregated into your portfolio statistics.
What happens when a bond reaches maturity?
When a bond reaches maturity, it automatically moves to Matured Holdings. It is no longer included in Remaining Coupons, Remaining Principal or active Portfolio Analytics, but it remains available for historical reference.
Portfolio
Dashboard
The Dashboard provides a high-level overview of your active portfolio: nominal exposure, Remaining Coupons, Remaining Principal, upcoming coupons, yearly cashflows, allocation and Portfolio Analytics. Matured Holdings are excluded from Dashboard calculations.
Portfolio Analytics
Portfolio Analytics summarizes your active holdings. Metrics include average years to maturity, weighted average coupon, weighted average Reference YTM, weighted average acquisition discount and average days until next coupon.
Portfolio averages are weighted by estimated market value, so larger positions have a larger effect than smaller positions.
Portfolio Statistics
Portfolio Statistics summarize expected and historical coupon cashflows: coupons already received, Remaining Coupons, yearly income and total coupon income. Year filters allow viewing a specific cashflow year.
Calculations
What is YTM?
Yield to Maturity (YTM) estimates the annual return of a bond assuming all coupons are received, the bond is held until maturity and principal is repaid at maturity. YTM considers both coupon income and purchase price.
What is Reference YTM?
Reference YTM uses the app selected market/reference clean price: last, then close, then bid, then ask, then nominal fallback. It is useful for consistent comparison inside Fidelis Explorer.
What is Trade YTM?
Trade YTM estimates the yield when buying at the current ask price. It uses BVB dirty ask when available; otherwise it uses ask clean price plus accrued interest. If ask is unavailable, it falls back to the reference dirty price and is marked as estimated.
Trade YTM may match broker platforms such as TradeVille better because brokers usually calculate purchase yield from dirty ask / effective purchase price.
Why is YTM different from the coupon?
The coupon is fixed by the issuer. YTM depends on market price. In general, a price above nominal can make YTM lower than the coupon, while a price below nominal can make YTM higher than the coupon.
What is Clean Price?
Clean Price is the quoted market price excluding accrued interest.
What is Dirty Price?
Dirty Price is the actual amount economically paid for the bond.
Dirty Price = BVB Dirty Ask when available, otherwise Clean Price + Accrued Interest
What is Accrued Interest?
Accrued Interest represents coupon interest accumulated since the previous coupon payment. When purchasing on the secondary market, the buyer compensates the seller for this accumulated interest.
Why is my first coupon smaller after buying on the secondary market?
The issuer always pays the full coupon. However, part of that coupon economically reimburses accrued interest already paid to the previous owner when the bond was purchased.
For this reason, Fidelis Explorer separates Gross Coupon Cashflow from Economic Net Income.
Calendar
What is the Coupon Calendar?
The Coupon Calendar displays coupon payment dates, gross coupon amount, holding and payment status. When relevant, accrued interest paid during acquisition is displayed separately.
Alerts
What do alerts show?
Alerts automatically identify bonds matching configured rules, such as YTM above a selected threshold, price below nominal value or custom conditions.
Import / Export
What is Export Portfolio?
Export Portfolio creates a portable copy of My List. Use it regularly if you want a backup.
What is Import Portfolio?
Import Portfolio restores a previously exported My List, allowing you to continue without manually recreating your holdings.
Can I transfer my portfolio to another computer?
Yes. Export your portfolio to a JSON file and import it on another device using Import Portfolio.
What is Debug Export?
Debug Export is intended for validation. It contains calculation inputs, generated cashflows, accrued interest, present values, solver information, Portfolio Statistics and validation checks. It is useful when validating calculations or reporting bugs.
Privacy
Is my portfolio stored on your server?
No. Your portfolio remains local. Fidelis Explorer does not require user accounts and does not maintain a central database containing users' investments.
Is my portfolio sent anywhere?
No. Portfolio information is never transmitted to our servers. Holdings, quantities, purchase prices and imported portfolio files remain on your device.
Do I need an account?
No. There is no username, no password and no cloud portfolio.
What happens if I clear browser data?
If you clear your browser data, your locally stored portfolio may be permanently removed. Export your portfolio regularly if you wish to keep a backup.
Cookie Consent
The session cookie is required only for My List. It is not used for advertising, behavioural tracking or website analytics. If consent is declined, public pages remain available but My List is disabled.
Support
How can I support the project?
Fidelis Explorer is free to use. If you find it useful, you may choose to support development with a voluntary donation. Donations are optional and do not unlock additional features.
Will Fidelis Explorer become a paid application?
There are currently no plans to introduce premium features or subscriptions. The application is free to use, and voluntary donations help support ongoing development and hosting costs.