> ## Documentation Index
> Fetch the complete documentation index at: https://docs.focusalpha.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Screen ETFs by Wrapper and Structure

> Filter ETFs by the nine wrapper tiers — leveraged/inverse, structured outcome, option income, commodity, crypto, currency, alternative, plain beta — and by filed structural flags.

Screening ETFs by wrapper selects funds by what kind of instrument they are, using the nine-value [wrapper tier](/etf/wrapper-tiers) and the fund's filed structural flags. It is the axis for questions like "every leveraged fund regardless of what it tracks" or "buffer funds on the S\&P 500" — the structural half of a question whose exposure half is the [taxonomy](/screening/etf/by-asset-class).

<Info>
  **Plan:** Fund · **Credits:** 1 per call; screen facets are free
</Info>

## The Wrapper and Structure Filters

<ParamField query="tier" type="string">
  Comma-separated wrapper tiers; matches ANY. The nine values: `plain_beta`, `leveraged_inverse`, `structured_outcome`, `option_income`, `physical_commodity`, `futures_commodity`, `crypto`, `currency`, `alternative`.
</ParamField>

<ParamField query="exposure_hidden" type="boolean">
  `true` selects funds whose holdings market values are margin or premium rather than exposure — the funds where summing `market_value` is wrong by construction. See [ETF Wrapper Tiers](/etf/wrapper-tiers).
</ParamField>

<ParamField query="multi_inverse" type="boolean">
  The **filed** leveraged/inverse flag, from the fund's own SEC filing — the issuer's claim, kept separate from the computed `leveraged_inverse` tier so the two can be compared.
</ParamField>

<ParamField query="is_index" type="boolean">
  The filed index-fund flag: `true` for index trackers, `false` for active funds.
</ParamField>

<ParamField query="is_fund_of_fund" type="boolean">
  The filed fund-of-funds flag.
</ParamField>

<ParamField query="active" type="boolean" default="true">
  Trading status, not management style: by default delisted and superseded funds are excluded; pass `false` to include them.
</ParamField>

<ParamField query="exchange" type="string">
  Primary listing exchange, e.g. `AMEX`, `NASDAQ`, `CBOE`, `NYSE`.
</ParamField>

## Filed Flags and Computed Labels Can Disagree

`multi_inverse` and `is_index` are read from filings; the tier is computed by FocusAlpha. A fund whose filed flags and computed tier disagree is a finding worth looking at, not a data error — the profile's `labels` block shows both.

## A Wrapper Filter Crosses With Everything Else

The tier composes with every other axis: `tier=leveraged_inverse` with `max_flow_20d=-50000000` is "leveraged funds bleeding assets"; `tier=structured_outcome` with `taxonomy_prefix=equity.structured_outcome.us_large_cap` narrows buffers to the S\&P 500 complex; `tier=option_income` sorted by `aum` ranks the covered-call complex.

## Related Screens

[By asset class](/screening/etf/by-asset-class) · [By flows and premium](/screening/etf/by-flows-and-premium) · [By size and fees](/screening/etf/by-size-and-fees) · [ETF screening overview](/etf/screening)

<RequestExample>
  ```bash cURL theme={null}
  curl "https://api.focusalpha.ai/v1/etfs/screen?tier=leveraged_inverse&sort=aum" \
    -H "Authorization: Bearer $FOCUSALPHA_API_KEY"
  ```
</RequestExample>

<ResponseExample>
  ```json Response (SQQQ, fields trimmed) theme={null}
  {
    "data": [
      {
        "ticker": "SQQQ",
        "name": "ProShares - UltraPro Short QQQ",
        "tier": "leveraged_inverse",
        "exposure_hidden": true,
        "is_index": true,
        "is_multi_inverse_index": true,
        "aum": 1978010813.61,
        "aum_is_derived": false
      }
    ]
  }
  ```
</ResponseExample>