Frequently asked questions
What SpreadVista is, where the data comes from, what it covers, and how each figure traces back to the filing it was read from. Email support@spreadvista.com if something here isn't answered.
What is SpreadVista?
SpreadVista is a credit analytics platform for business development companies (BDCs) and interval funds. SpreadVista normalizes roughly 24M structured datapoints from primary regulatory disclosures into a unified cross-vehicle dataset, resolved by issuer across 143 vehicles, with marks, NAV history, non-accruals, and concentration analytics queryable in one workspace. Built for credit analysts who need to validate marks and screen exposure across the whole asset class, not just one vehicle at a time.
Where does SpreadVista get its data?
Position data is derived entirely from primary regulatory disclosures — SEC 10-Qs, 10-Ks and N-PORT filings. No proprietary feeds. Every position is normalized through a multi-stage pipeline that resolves issuer identity across 143 vehicles, validates against the original disclosure, and pre-computes the cross-vehicle joins that make the analytics queryable in milliseconds. Two things can come from outside the filings, both public and both documented on the methodology page: share price and NAV market data, and European Central Bank period-end reference rates for foreign-currency principal — where no rate is available, those positions are measured against USD amortized cost instead. Every figure traces back to its source so you can verify.
How often is SpreadVista data updated?
BDC filings ingest daily at 2 AM ET — new 10-Qs and 10-Ks appear within hours of being filed with the SEC. Interval-fund N-PORT filings update on the same daily cron. The agg layer (the pre-computed cross-vehicle joins powering the dashboard) refreshes after each successful ingest. If you see data more than 25 hours stale, that's a pipeline anomaly and we treat it as an incident — see our weekly freshness dashboard for the live status.
How accurate are the marks and NAVs SpreadVista reports?
Fair values are reported exactly as filed. SpreadVista never restates a fair value or applies a proprietary valuation model — if ARCC carried a position at $98M in their latest quarterly disclosure, that is the figure in the platform. A mark, though, is a ratio we compute: BDCs disclose fair value and principal separately, not the mark itself. Usually it is simply fair value over the filer's stated par, but where that par is not the position's own principal — we adjust the basis: a foreign-currency loan's par is translated to USD at the period-end European Central Bank reference rate (measured against USD amortized cost where no rate is available), while a revolver whose par is the full facility commitment, or a filing that omits the principal, is measured against USD amortized cost. For BDC positions we withhold the mark entirely outside 5%–120% of that basis, because the denominator stops being trustworthy there. Fund-side implied marks carry their own published bands: corporate debt serves the full downside — a defaulted credit can legitimately show a few cents — while structured tranches whose stated amount is a notional are floored at 5%. All of it is documented on the methodology page. The accuracy of the underlying valuations is a separate question: each manager estimates them using their own methodology, which is why mark divergence across vehicles holding the same credit is one of SpreadVista's headline analytical features.
Is SpreadVista free?
Public research on SpreadVista is free to read today, with or without an account; an account adds watchlists, alerts and saved views. Accounts are issued by invitation at the moment, so getting one starts with an access request. No payment details are collected anywhere on the site. If a paid service is ever offered, it will be described with its own terms at the point it is offered.
What does SpreadVista do that a general market-data terminal does not?
Two things, both about the source. First, scope: SpreadVista reads 88 BDCs (exchange-traded, public non-traded and private non-traded that file with the SEC) alongside interval funds and CLO closed-end funds, so vehicles that are not exchange-traded are in the same dataset as the ones that are. Second, the cross-vehicle layer: borrower identity is resolved across BDCs and funds, so the vehicles that disclose the same credit line up side by side and you can read one manager's stated fair value, and the mark computed from it, against another's. Everything shown is read from the filer's own tagged filing and cross-validated against that filer's own portfolio subtotals in the same submission, and every figure links back to the filing it came from. We describe what SpreadVista does, not what other products do or charge.
What BDCs and funds does SpreadVista cover?
88 BDCs total: 49 exchange-listed plus 39 non-traded (public and private) that file with the SEC. On the fund side, 21 private-credit interval funds (Cliffwater, CION Ares, Blackstone, KKR, Apollo, Carlyle, etc.) and 11 CLO-focused funds (Eagle Point, Oxford Lane, Priority Income, etc.) get their own SEO/marketing pages; the cross-vehicle dataset covers 55 credit funds total via N-PORT. See the full universe at /bdc and /fund. Every ticker has its own page with the latest period's metrics.
What time range does SpreadVista cover?
August 2022 to present for both vehicle types. BDCs: quarterly history from August 1, 2022 (the date SEC mandated per-position iXBRL semantic tagging under the CEF Tagging Rule). Interval funds and CLO closed-end funds: monthly N-PORT filings from August 2022. N-PORT itself is structured from 2018, and the fund pipeline can read it, but we have only ingested from August 2022 forward so the two vehicle types share one comparable window — a cross-vehicle number is never half-sourced from a period the other side lacks. SpreadVista deliberately sets the BDC floor at the iXBRL mandate so every fair value, par, and spread shown is read from the filer's own iXBRL semantic tags and cross-validated against the filer's own portfolio subtotals, with a Data Quality tier on every position showing how cleanly that filing reconciled.
Do you cover loan-level CLO collateral data?
Not yet. CLO loan-level collateral data is not in SEC filings; it comes from licensed commercial providers, and SpreadVista is built on disclosures that are public. SpreadVista is focused on BDC and fund-level analytics, where the underlying disclosures are accessible without a licensing layer. Loan-level CLO stays on the roadmap only if it can be added from a source we can show you — meanwhile SpreadVista reads CLO tranche-level exposure for the 11 CLO-focused funds in its universe.
Why does SpreadVista emphasize "showing the work" on every chart?
Because credit analysts using a third-party tool need to validate the numbers themselves before they put their name on a recommendation. Every chart, every metric, every flagged anomaly on SpreadVista links back to a primary source you can verify yourself. The methodology, including what SpreadVista counted, what SpreadVista excluded, and how each metric was computed, is visible inline. Where a served figure turned out to be wrong, it is recorded on the corrections ledger rather than quietly replaced. Reproducibility is the point: a number you cannot check is a number you should not use.
Is SpreadVista investment advice?
No. SpreadVista is an analytics tool. We surface data from primary regulatory disclosures and compute analytical views on top of that data. Nothing on the site is a recommendation to buy, sell, or hold any security. Investors should consult licensed professionals before making investment decisions. See the disclaimer in the site footer for the full language.
How do I get help, report a bug, or request a feature?
Email support@spreadvista.com for any of the above — you get a fast response from a small team. Bug reports with a specific URL and a screenshot get prioritized. Feature requests inform the roadmap; we're especially interested in workflow gaps where the current product makes you do something manually that we could automate. The feedback widget inside the logged-in dashboard captures the same channel.
Question not answered?
We respond to every email — usually within a day. If you found a bug or want a feature, drop the URL and a sentence and it gets prioritized.
Email support@spreadvista.com