## Overview

Our free CFA Level II Portfolio Management and Wealth Planning notes cover everything you need to know for this module. From factor models and active management, portfolio construction and risk budgeting, to performance evaluation and risk management, we've got you covered. Whether you're intensively reviewing or looking to solidify specific concepts, these notes provide added peace of mind, knowing that you have a comprehensive resource to help consolidate and revise effectively for CFA Level II. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created detailed study guides for all CFA Level II topics. Check out our other free notes below:

- [Ethical and Professional Standards](./cfa-level2-ethical-and-professional-standards)
- [Quantitative Methods](./cfa-level2-quantitative-methods)
- [Economics](./cfa-level2-economics)
- [Financial Statement Analysis](./cfa-level2-financial-statement-analysis)
- [Corporate Issuers](./cfa-level2-corporate-issuers)
- [Equity Investments](./cfa-level2-equity-investments)
- [Fixed Income](./cfa-level2-fixed-income)
- [Derivatives](./cfa-level2-derivatives)
- [Alternative Investments](./cfa-level2-alternative-investments)
- [Portfolio Management and Wealth Planning](./cfa-level2-portfolio-management-and-wealth-planning)

## 1. Factor models and active management

- [Macroeconomic fundamental and statistical factor models](./cfa-level2-factor-models-and-active-management-macroeconomic-fundamental-and-statistical-factor-models)
- [Risk models covariance estimation and shrinkage](./cfa-level2-factor-models-and-active-management-risk-models-covariance-estimation-and-shrinkage)
- [Fundamental law of active management and information ratio](./cfa-level2-factor-models-and-active-management-fundamental-law-of-active-management-and-information-ratio)

## 2. Portfolio construction and risk budgeting

- [Constraints risk targets and position sizing](./cfa-level2-portfolio-construction-and-risk-budgeting-constraints-risk-targets-and-position-sizing)
- [Multi-asset allocation overlays and currency management](./cfa-level2-portfolio-construction-and-risk-budgeting-multi-asset-allocation-overlays-and-currency-management)
- [Rebalancing transaction costs and turnover control](./cfa-level2-portfolio-construction-and-risk-budgeting-rebalancing-transaction-costs-and-turnover-control)

## 3. Performance evaluation and risk management

- [Performance attribution equity and fixed income](./cfa-level2-performance-evaluation-and-risk-management-performance-attribution-equity-and-fixed-income)
- [VaR expected shortfall stress and scenario testing](./cfa-level2-performance-evaluation-and-risk-management-var-expected-shortfall-stress-and-scenario-testing)
- [Manager selection due diligence and monitoring](./cfa-level2-performance-evaluation-and-risk-management-manager-selection-due-diligence-and-monitoring)


Free CFA Level II Portfolio Management and Wealth Planning Study Guide