Frequently asked questions
What SpreadVista is, where the data comes from, what we cover, and how we differ from incumbent BDC analytics providers. 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?
Yes. Public research on SpreadVista is free to use, with or without an account; an account adds watchlists, alerts and saved views. There is no credit card on file and no auto-conversion to a paid plan.
How is SpreadVista different from SOLVE, S&P Capital IQ, or Bloomberg BDC data?
Three things. First, price: SpreadVista costs a small fraction of incumbent platforms. Second, scope: SpreadVista covers 88 BDCs (exchange-traded plus public non-traded plus private non-traded that file with the SEC) plus interval funds plus CLO closed-end funds. Most incumbents focus on the larger public traded names. Third, the cross-vehicle exposure layer: SpreadVista canonicalizes issuer identities across BDCs and funds so you can see every vehicle holding the same credit at a glance. That cross-vehicle view is the headline differentiator, and the analytical layer most incumbents don't offer at any price.
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 data is available from licensed providers (Intex, S&P Capital IQ) for $50K-200K per year. We're currently focused on BDC and interval-fund-level analytics where the underlying disclosures are accessible without that licensing cost. Loan-level CLO is on the roadmap once it can be added without the third-party licensing layer — meanwhile we cover CLO tranche-level exposure for the 11 CLO-focused funds in our 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. This is opposite to the incumbents' black-box approach and is intentional. Reproducibility is a trust signal.
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