CFA® L3 — Portfolio Construction
Active vs passive choice, factor investing, manager selection, ETF use, taxes, and the mechanics of building and rebalancing a real portfolio.
Quick info
- Layer
- Professional Certifications
- Track
- CFA® Level 3
- Estimated hours
- 35 hrs
- Chapters
- 1
- Exam body
- CFA Institute
- Cost on Trustner
- Free
Every chapter below has Foundation, Deep Dive, and Advanced material — read in any order, expand each chapter to see the full content.
About this course
Portfolio construction translates SAA into actual security positions. CFA L3 covers active vs passive, risk budgeting, factor tilts, and implementation. ~5-10% weight.
Who this is for
- CFA L3 candidates.
- Portfolio managers and traders.
- Multi-asset strategists.
What you'll learn
- Active vs passive — pure indexing, factor tilting, fundamental indexing
- Risk budgeting — total, systematic, idiosyncratic
- Style integration
- Implementation: cash flows, benchmarking
Course material — 1 chapters
Each chapter offers three tiers — Foundation for the core concept, Deep Dive for worked examples and practitioner depth, and Advanced for edge cases and exam tips. Click any chapter to expand.
More from CFA® Level 3
CFA® L3 — Asset Allocation
Strategic and tactical asset allocation, capital-market expectations, the IPS, currency management. Heavy in the L3 essay paper.
CFA® L3 — Performance Measurement
Attribution, benchmarking, risk-adjusted returns, the GIPS Standards. Measuring what a manager actually delivered.
CFA® L3 — Derivatives & Risk Management
Hedging equity, currency, and rate risk; managing portfolios with futures, options, and swaps; tail-risk hedging strategies.
CFA® L3 — Fixed Income Portfolio Management
Liability-driven investing, immunisation, yield-curve strategies, credit strategies — fixed income from the portfolio manager's seat.