alignment fixes in contributions

docs/reference/config/projections-srf.md

@@ -66,6 +66,15 @@ cash, CDs, options, and anything with no `metadata.srf` row -- so a raw
 sleeve, and would not be comparable against the portfolio row (which is
 renormalized). Both rows therefore describe invested assets only.
 
+The row labels say so, and they are renormalized to match: a leg reads
+`SPYM (89.4% of benchmark)`, not its raw portfolio weight, so that
+multiplying the printed weights by the printed returns reproduces the
+printed blend. The blend row names the share of the portfolio it covers,
+`Benchmark (94.9% of portfolio)`, and omits that clause entirely once
+coverage reaches 99.5%. A leg's raw portfolio weight is still recoverable
+as `of benchmark x of portfolio` -- here `0.894 x 0.949 = 84.9%`, which
+is the figure the `Target allocation` line reports.
+
 The year columns are **total return** (dividend-reinvested). The `Week`
 column is price-only, because dividends over seven days are negligible;
 the table header says so.

src/commands/contributions.zig

@@ -1178,6 +1178,60 @@ fn collectUnmatchedLargeLots(
     return out.toOwnedSlice(arena);
 }
 
+/// The kinds that carry real value but are deliberately left OUT of attribution -
+/// and the only place that list lives.
+///
+/// Two consumers read it and they must never disagree: `compare`'s
+/// "Uncounted in/out" headline and this report's own "Uncounted flows" total.
+/// They would drift if each carried its own list, because these six kinds are
+/// scattered across FOUR different print sections below (Cash deltas, Internal
+/// purchases, Flagged for review, Lot edits) and nothing about the layout hints
+/// that they belong to one bucket. That scattering is exactly why the headline
+/// number was untraceable: every row was on screen and no total was.
+///
+/// `cash_delta` is the raw-balance-change bucket (an opted-in account's positive
+/// delta is reclassified to `cash_contribution` at diff time and counted as a
+/// contribution, so it cannot be double-counted here). The share-reduction kinds
+/// are the other side of the same coin: `attributedValue()` pins them to 0 on the
+/// grounds that they are a funding source rather than an outflow, which is right
+/// for attribution and still worth SEEING.
+///
+/// Deliberately NOT here:
+///   - `cd_matured` / `cd_removed_early` have their own section and always pair
+///     with a cash increase in the same account, so counting both legs would
+///     double-report one internal move.
+///   - `transfer_in` / `transfer_out` / `unmatched_transfer` are DECLARED internal
+///     moves (`transaction_log.srf`). The point of the total is UNdeclared
+///     movement; a declared transfer is not a surprise.
+///   - `price_only` carries no share change, so its value is zero anyway.
+fn isUncountedKind(k: ChangeKind) bool {
+    return switch (k) {
+        .cash_delta, .drip_negative, .lot_removed, .position_closed, .lot_edited, .flagged => true,
+        else => false,
+    };
+}
+
+/// Gross in/out split of the uncounted flows, signed the way `compare` prints
+/// them: `out` accumulates negatives, so `in + out` is the net and needs no
+/// further sign juggling at either call site.
+///
+/// Uses `value()`, not `attributedValue()` - the whole point is the value that
+/// attribution threw away. Note this is a DIFFERENT basis from the figure
+/// `printCollapsedSales` shows for a sale, which uses `face_value` (what the
+/// trade realized) and can legitimately differ from a current-price mark. That
+/// is why only the Cash deltas section gets a per-section total below: there the
+/// two bases coincide, so the section total and this one cannot disagree.
+fn uncountedTotals(changes: []const Change) struct { in: f64, out: f64 } {
+    var in: f64 = 0;
+    var out: f64 = 0;
+    for (changes) |c| {
+        if (!isUncountedKind(c.kind)) continue;
+        const v = c.value();
+        if (v >= 0) in += v else out += v;
+    }
+    return .{ .in = in, .out = out };
+}
+
 fn summarizeAttribution(ctx: ReportContext) AttributionSummary {
 
     // Aggregate. Classification logic matches the full-report sections:
@@ -1198,37 +1252,15 @@ fn summarizeAttribution(ctx: ReportContext) AttributionSummary {
     // `partial_transfer_in` -> residual only (attributedValue()).
     var new_contributions: f64 = 0;
     var drip: f64 = 0;
-    var uncounted_in: f64 = 0;
-    var uncounted_out: f64 = 0;
     for (ctx.report.changes) |c| switch (c.kind) {
         .new_stock, .new_cash, .new_cd, .new_option, .cash_contribution => new_contributions += c.attributedValue(),
         .new_drip_lot, .drip_confirmed, .rollup_delta => drip += c.value(),
         .partial_transfer_in => new_contributions += c.attributedValue(),
-
+        // The uncounted kinds fall through to `uncountedTotals` below, which owns
-        // Uncounted, and now reported rather than silently dropped. See
+        // that list. Everything else contributes nothing.
-        // `AttributionSummary.uncounted_in`.
-        //
-        // `cash_delta` is the raw-balance-change bucket (an opted-in account's
-        // positive delta is reclassified to `cash_contribution` at diff time and
-        // counted above, so it cannot be double-counted here). The share-reduction
-        // kinds are the other side of the same coin: `attributedValue()` pins them
-        // to 0 on the grounds that they are a funding source rather than an outflow,
-        // which is right for attribution and still worth SEEING.
-        .cash_delta, .drip_negative, .lot_removed, .position_closed, .lot_edited, .flagged => {
-            const v = c.value();
-            if (v >= 0) uncounted_in += v else uncounted_out += v;
-        },
-
-        // Deliberately NOT in the uncounted totals:
-        //   - `cd_matured` / `cd_removed_early` have their own report section and
-        //     always pair with a cash increase in the same account, so counting both
-        //     legs would double-report one internal move.
-        //   - `transfer_in` / `transfer_out` / `unmatched_transfer` are DECLARED
-        //     internal moves (`transaction_log.srf`). The point of this line is
-        //     UNdeclared movement; a declared transfer is not a surprise.
-        //   - `price_only` carries no share change, so its value is zero anyway.
         else => {},
     };
+    const unc = uncountedTotals(ctx.report.changes);
     // Cash-dest transfer attribution is already removed by `attributedValue()` on
     // the per-Change side: `matchCashDestination` accumulates into
     // `transfer_attributed`, so a fully-attributed cash Change contributes zero
@@ -1237,8 +1269,8 @@ fn summarizeAttribution(ctx: ReportContext) AttributionSummary {
     return .{
         .new_contributions = new_contributions,
         .drip = drip,
-        .uncounted_in = uncounted_in,
+        .uncounted_in = unc.in,
-        .uncounted_out = uncounted_out,
+        .uncounted_out = unc.out,
     };
 }
 
@@ -3124,16 +3156,25 @@ fn printReport(out: *std.Io.Writer, report: *const Report, label: []const u8, co
     try out.writeAll("\n");
 
     // ── Section: Cash deltas ──
+    //
+    // Totalled, unlike the other uncounted sections, because this is the one
+    // that usually carries the bulk of `compare`'s "Uncounted in" and the one a
+    // reader ends up adding by hand. Safe to total here because these rows print
+    // `value()`, the same basis `uncountedTotals` uses - see the note there for
+    // why the sale sections are left alone.
     try printSection(out, "Cash deltas (raw balance changes)", color, h_color);
     any = false;
+    var cash_delta_total: f64 = 0;
     for (report.changes) |c| switch (c.kind) {
         .cash_delta => {
             any = true;
+            cash_delta_total += c.value();
             try printCashDeltaLine(out, c, report, color);
         },
         else => {},
     };
     if (!any) try printNone(out, color, mut_color);
+    if (any) try printTotalLine(out, "Total", cash_delta_total, color, h_color);
     try out.writeAll("\n");
 
     // ── Section: Internal purchases (internally funded - not counted) ──
@@ -3233,13 +3274,10 @@ fn printReport(out: *std.Io.Writer, report: *const Report, label: []const u8, co
         try printSection(out, "Lot edits (same position, key rewritten - not counted)", color, h_color);
         for (report.changes) |c| switch (c.kind) {
             .lot_edited => {
-                var buf: [256]u8 = undefined;
+                try cli.setFg(out, color, mut_color);
-                const msg = std.fmt.bufPrint(
+                try writeRowPrefix(out, c.symbol, c.account);
-                    &buf,
+                try out.writeAll(" (strict key broke, shares unchanged)\n");
-                    "  {s: <12} {s: <24} (strict key broke, shares unchanged)\n",
+                try cli.reset(out, color);
-                    .{ c.symbol, c.account },
-                ) catch "  (lot edit)\n";
-                try cli.printFg(out, color, mut_color, "{s}", .{msg});
             },
             else => {},
         };
@@ -3303,7 +3341,10 @@ fn printReport(out: *std.Io.Writer, report: *const Report, label: []const u8, co
         total_cd_int += cd_int;
 
         const acct_label = if (acct.len == 0) "(no account)" else acct;
-        try out.print("  {s:<28}", .{acct_label});
+        // Same width and the same gutter guarantee as the per-change rows, minus
+        // the symbol column this section has no use for.
+        try out.writeAll("  ");
+        try padTo(out, acct_label, acct_w);
         try printSummaryCell(out, " new", t.new_money, color);
         try printSummaryCell(out, " drip", t.drip_confirmed, color);
         try printSummaryCell(out, " rollup", t.rollup, color);
@@ -3326,6 +3367,57 @@ fn printReport(out: *std.Io.Writer, report: *const Report, label: []const u8, co
     // even though it originated inside the portfolio.
     const grand = total_new + total_drip + total_rollup + total_cd_int;
     try cli.printFg(out, color, h_color, "  Grand total:                   {f}\n", .{Money.from(grand)});
+
+    // The figures `compare` prints as "Uncounted in/out", restated here because
+    // that line says "see `zfin contributions`" and until now nothing in this
+    // report added up to them. Same helper, so they are the same numbers by
+    // construction rather than by hope. Named sections so the rows behind each
+    // side can actually be found.
+    const unc = uncountedTotals(report.changes);
+    if (@abs(unc.in) >= 0.005 or @abs(unc.out) >= 0.005) {
+        try out.writeAll("\n");
+        try cli.printFg(out, color, h_color, "Uncounted flows (inside `Investment gains`, not attributed)\n", .{});
+        try out.print("  In:                            {f}\n", .{Money.from(unc.in).signed()});
+        try out.print("  Out:                           {f}\n", .{Money.from(unc.out).signed()});
+        try cli.printFg(out, color, h_color, "  Net:                           {f}\n", .{Money.from(unc.in + unc.out).signed()});
+
+        // Name only the sections that actually contributed. Listing all four
+        // unconditionally would point at headings that were never printed
+        // (Flagged and Lot edits are both conditional), and it would put their
+        // titles on screen even when the sections are absent - which is not just
+        // untidy, it defeats any "this section did not appear" check.
+        var listed: usize = 0;
+        for ([_]struct { name: []const u8, hit: bool }{
+            .{ .name = "Cash deltas", .hit = anyUncountedIn(report.changes, .cash_delta_group) },
+            .{ .name = "Internal purchases", .hit = anyUncountedIn(report.changes, .sale_group) },
+            .{ .name = "Flagged for review", .hit = anyUncountedIn(report.changes, .flagged_group) },
+        }) |g| {
+            if (!g.hit) continue;
+            try cli.printFg(out, color, mut_color, "{s}{s}", .{ if (listed == 0) "  from: " else ", ", g.name });
+            listed += 1;
+        }
+        if (listed > 0) try out.writeAll("\n");
+    }
+}
+
+/// Which print section a given uncounted change shows up under. Used only to
+/// caption the total; `Lot edits` is deliberately absent because `lot_edited`
+/// values to zero, so it can never move the figure it would be credited for.
+const UncountedGroup = enum { cash_delta_group, sale_group, flagged_group };
+
+fn anyUncountedIn(changes: []const Change, group: UncountedGroup) bool {
+    for (changes) |c| {
+        if (!isUncountedKind(c.kind)) continue;
+        if (@abs(c.value()) < 0.005) continue;
+        const g: UncountedGroup = switch (c.kind) {
+            .cash_delta => .cash_delta_group,
+            .position_closed, .lot_removed, .drip_negative => if (isSaleKind(c)) .sale_group else .flagged_group,
+            .flagged => .flagged_group,
+            else => continue,
+        };
+        if (g == group) return true;
+    }
+    return false;
 }
 
 fn printSection(out: *std.Io.Writer, title: []const u8, color: bool, hdr: [3]u8) !void {
@@ -3337,6 +3429,66 @@ fn printNone(out: *std.Io.Writer, color: bool, muted: [3]u8) !void {
     try cli.printFg(out, color, muted, "  (none)\n", .{});
 }
 
+/// Symbol column. 16 because `Engagement Ring` is 15 - illiquid assets carry
+/// free-form names rather than tickers, so the old 14 was sized for a population
+/// this report no longer only contains.
+const sym_w = 16;
+
+/// Account column. 30 because `Fidelity Emil 401(k) Roth BL` is 28.
+const acct_w = 30;
+
+/// Pad `s` into a `w`-wide field, always leaving at least one space behind it.
+///
+/// The guarantee is the point. `{s:<N}` OVERFLOWS instead of truncating, so a
+/// single over-long value both shifted its own row right AND consumed the gutter,
+/// welding itself to the next field. And no fixed `N` avoids it here: symbols in
+/// this report run from a 3-character ticker to a 24-character option
+/// (`AMZN 09/18/2026 280.00 C`), with hand-named illiquid assets in between. So
+/// the widths above are chosen for the common case and this keeps the rare long
+/// one readable - it loses its alignment, not its whitespace.
+fn padTo(out: *std.Io.Writer, s: []const u8, w: usize) !void {
+    try out.writeAll(s);
+    try out.splatByteAll(' ', if (s.len >= w) 1 else w - s.len);
+}
+
+/// The `  symbol account ` prefix every per-change row opens with.
+///
+/// One function rather than a format-string literal repeated at fourteen call
+/// sites. The literal is how the widths drifted out of step in the first place:
+/// twelve rows said `{s:<14}{s:<24}`, the CD continuation said the same with
+/// blank arguments, the lot-edit row said `{s: <12} {s: <24}`, and the account
+/// summary said `{s:<28}` - four different answers to one question, and each new
+/// long value found a different one of them.
+///
+/// Callers own the single space that follows, so content lands one column past
+/// `acct_w`. Keep it: every section has to agree on that column or the report
+/// shears between sections instead of within a row, which is harder to spot.
+fn writeRowPrefix(out: *std.Io.Writer, symbol: []const u8, account: []const u8) !void {
+    try out.writeAll("  ");
+    try padTo(out, symbol, sym_w);
+    try padTo(out, account, acct_w);
+}
+
+test "padTo: pads short values to width and never welds a long one" {
+    var buf: [128]u8 = undefined;
+
+    // Short: padded to the column.
+    var w1 = std.Io.Writer.fixed(&buf);
+    try padTo(&w1, "CASH", 16);
+    try std.testing.expectEqualStrings("CASH            ", w1.buffered());
+
+    // Exactly one under: still a gutter, and it is the last width that aligns.
+    var w2 = std.Io.Writer.fixed(&buf);
+    try padTo(&w2, "Engagement Ring", 16);
+    try std.testing.expectEqualStrings("Engagement Ring ", w2.buffered());
+
+    // Over: alignment is gone, whitespace is not. `{s:<16}` produced no space
+    // here at all, which ran the value into the next column.
+    var w3 = std.Io.Writer.fixed(&buf);
+    try padTo(&w3, "AMZN 09/18/2026 280.00 C", 16);
+    try std.testing.expectEqualStrings("AMZN 09/18/2026 280.00 C ", w3.buffered());
+}
+
 fn printTotalLine(out: *std.Io.Writer, label: []const u8, v: f64, color: bool, hdr: [3]u8) !void {
     try cli.printFg(out, color, hdr, "  {s}: {f}\n", .{ label, Money.from(v) });
 }
@@ -3350,7 +3502,7 @@ fn printChangeLine(out: *std.Io.Writer, c: Change, color: bool, pos: [3]u8) !voi
     const val_str = std.fmt.bufPrint(&val_buf, "{f}", .{Money.from(c.value())}) catch "$?";
 
     const acct = if (c.account.len == 0) "(no account)" else c.account;
-    try out.print("  {s:<14}{s:<24}", .{ c.symbol, acct });
+    try writeRowPrefix(out, c.symbol, acct);
     if (c.security_type == .cash) {
         try cli.printFg(out, color, pos, " {s}", .{val_str});
     } else {
@@ -3369,15 +3521,15 @@ fn printCdLine(out: *std.Io.Writer, c: Change, implied_interest: ?f64, color: bo
         .cd_removed_early => "removed EARLY",
         else => "removed",
     };
-    try out.print("  {s:<14}{s:<24} {s:<16} face {f}  maturity {s}\n", .{
+    try writeRowPrefix(out, c.symbol, acct);
-        c.symbol,
+    try out.print(" {s:<16} face {f}  maturity {s}\n", .{
-        acct,
         verb,
         Money.from(c.face_value),
         mat_str,
     });
     if (implied_interest) |i| {
-        try cli.printFg(out, color, cli.CLR_POSITIVE, "  {s:<14}{s:<24} implied interest: {f}\n", .{ "", "", Money.from(i) });
+        try writeRowPrefix(out, "", "");
+        try cli.printFg(out, color, cli.CLR_POSITIVE, " implied interest: {f}\n", .{Money.from(i)});
     }
 }
 
@@ -3385,7 +3537,8 @@ fn printCashDeltaLine(out: *std.Io.Writer, c: Change, report: *const Report, col
     const v = c.value();
     const acct = if (c.account.len == 0) "(no account)" else c.account;
     const sign = if (v >= 0) "+" else "-";
-    try out.print("  {s:<14}{s:<24} cash ", .{ c.symbol, acct });
+    try writeRowPrefix(out, c.symbol, acct);
+    try out.writeAll(" cash ");
     try cli.printGainLoss(out, color, v, "{s}{f}", .{ sign, Money.from(@abs(v)) });
 
     // Hint if a CD matured in the same account.
@@ -3400,9 +3553,9 @@ fn printCashDeltaLine(out: *std.Io.Writer, c: Change, report: *const Report, col
 
 fn printPriceOnlyLine(out: *std.Io.Writer, c: Change, color: bool, muted: [3]u8) !void {
     const acct = if (c.account.len == 0) "(no account)" else c.account;
-    try cli.printFg(out, color, muted, "  {s:<14}{s:<24} price {f} -> {f}\n", .{
+    try cli.setFg(out, color, muted);
-        c.symbol,
+    try writeRowPrefix(out, c.symbol, acct);
-        acct,
+    try out.print(" price {f} -> {f}\n", .{
         Money.from(c.old_price),
         Money.from(c.new_price),
     });
@@ -3413,17 +3566,18 @@ fn printFlaggedLine(out: *std.Io.Writer, c: Change, color: bool, warn: [3]u8) !v
     try cli.setFg(out, color, warn);
     switch (c.kind) {
         .flagged => {
-            try out.print("  {s:<14}{s:<24} {s}", .{ c.symbol, acct, c.detail orelse "edited" });
+            try writeRowPrefix(out, c.symbol, acct);
+            try out.print(" {s}", .{c.detail orelse "edited"});
         },
         .lot_removed => {
-            try out.print("  {s:<14}{s:<24} {s} lot removed (face {f})", .{
+            try writeRowPrefix(out, c.symbol, acct);
-                c.symbol, acct, @tagName(c.security_type), Money.from(c.face_value),
+            try out.print(" {s} lot removed (face {f})", .{
+                @tagName(c.security_type), Money.from(c.face_value),
             });
         },
         .drip_negative => {
-            try out.print("  {s:<14}{s:<24} shares decreased on existing lot ({f})", .{
+            try writeRowPrefix(out, c.symbol, acct);
-                c.symbol, acct, Money.from(@abs(c.value())),
+            try out.print(" shares decreased on existing lot ({f})", .{Money.from(@abs(c.value()))});
-            });
         },
         else => {},
     }
@@ -3542,7 +3696,7 @@ fn printPartialTransferLine(out: *std.Io.Writer, c: Change, color: bool, pos: [3
     const lot_value = c.value();
     const sym = if (c.symbol.len > 0) c.symbol else "cash";
 
-    try out.print("  {s:<14}{s:<24}", .{ sym, acct });
+    try writeRowPrefix(out, sym, acct);
     try cli.printFg(out, color, pos, " {f}", .{Money.from(residual)});
     try cli.printFg(
         out,
@@ -3564,7 +3718,7 @@ fn printCashFundedResidualLine(out: *std.Io.Writer, c: Change, color: bool, pos:
     const lot_value = c.value();
     const sym = if (c.symbol.len > 0) c.symbol else "cash";
 
-    try out.print("  {s:<14}{s:<24}", .{ sym, acct });
+    try writeRowPrefix(out, sym, acct);
     try cli.printFg(out, color, pos, " {f}", .{Money.from(residual)});
     try cli.printFg(
         out,
@@ -3629,9 +3783,11 @@ fn printCollapsedSales(out: *std.Io.Writer, report: *const Report, color: bool,
         // current-price proxy, so say which one the reader is looking at.
         const basis: []const u8 = if (closed_in_place) "at close" else "at mark";
         if (lots == 1) {
-            try out.print("  {s:<14}{s:<24} sold {s} ({f})", .{ c.symbol, acct, basis, Money.from(proceeds) });
+            try writeRowPrefix(out, c.symbol, acct);
+            try out.print(" sold {s} ({f})", .{ basis, Money.from(proceeds) });
         } else {
-            try out.print("  {s:<14}{s:<24} sold {d} lots {s} ({f})", .{ c.symbol, acct, lots, basis, Money.from(proceeds) });
+            try writeRowPrefix(out, c.symbol, acct);
+            try out.print(" sold {d} lots {s} ({f})", .{ lots, basis, Money.from(proceeds) });
         }
         try cli.reset(out, color);
         try out.writeAll("\n");
@@ -3649,7 +3805,8 @@ fn printInternalPurchaseLine(out: *std.Io.Writer, c: Change, color: bool, muted:
     const lot_value = c.value();
 
     try cli.setFg(out, color, muted);
-    try out.print("  {s:<14}{s:<24} {f} from existing cash", .{ sym, acct, Money.from(c.internal_funded) });
+    try writeRowPrefix(out, sym, acct);
+    try out.print(" {f} from existing cash", .{Money.from(c.internal_funded)});
     if (c.internal_funded + 0.005 < lot_value) {
         try out.print(" (of {f} lot)", .{Money.from(lot_value)});
     }

src/commands/projections.zig

@@ -892,27 +892,36 @@ pub fn runBands(
         "", "1 Year", "3 Year", "5 Year", "10 Year", "Week",
     });
 
-    // Build return rows via view model
+    // Build return rows via view model. Weights are renormalized to the blend,
+    // matching what `comparison.*_returns` were actually computed from.
+    const bw = view.benchmarkWeights(ctx.stock_pct, ctx.bond_pct);
+
     var spy_bufs: [5][16]u8 = undefined;
-    var spy_label_buf: [32]u8 = undefined;
+    var spy_label_buf: [48]u8 = undefined;
     const spy_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&spy_label_buf, ctx.config.benchmarkStock(), ctx.stock_pct * 100),
+        view.fmtBenchmarkLabel(&spy_label_buf, ctx.config.benchmarkStock(), bw.stock),
         comparison.stock_returns,
         &spy_bufs,
         false,
     );
 
     var agg_bufs: [5][16]u8 = undefined;
-    var agg_label_buf: [32]u8 = undefined;
+    var agg_label_buf: [48]u8 = undefined;
     const agg_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&agg_label_buf, ctx.config.benchmarkBond(), ctx.bond_pct * 100),
+        view.fmtBenchmarkLabel(&agg_label_buf, ctx.config.benchmarkBond(), bw.bond),
         comparison.bond_returns,
         &agg_bufs,
         false,
     );
 
     var bench_bufs: [5][16]u8 = undefined;
-    const bench_row = view.buildReturnRow("Benchmark", comparison.benchmark_returns, &bench_bufs, true);
+    var bench_label_buf: [48]u8 = undefined;
+    const bench_row = view.buildReturnRow(
+        view.fmtBenchmarkAggregateLabel(&bench_label_buf, bw.covered),
+        comparison.benchmark_returns,
+        &bench_bufs,
+        true,
+    );
 
     var port_bufs: [5][16]u8 = undefined;
     const port_row = view.buildReturnRow("Your Portfolio", comparison.portfolio_returns, &port_bufs, true);

src/tui/projections_tab.zig

@@ -1137,11 +1137,13 @@ fn buildHeaderSection(state: *State, app: *App, arena: std.mem.Allocator, lines:
         .style = th.headerStyle(),
     });
 
-    // Return rows
+    // Return rows. Weights renormalized to the blend - see `benchmarkWeights`.
+    const bw = view.benchmarkWeights(stock_pct, pctx.bond_pct);
+
     var spy_bufs: [5][16]u8 = undefined;
-    var spy_label_buf: [32]u8 = undefined;
+    var spy_label_buf: [48]u8 = undefined;
     const spy_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&spy_label_buf, config.benchmarkStock(), stock_pct * 100),
+        view.fmtBenchmarkLabel(&spy_label_buf, config.benchmarkStock(), bw.stock),
         comparison.stock_returns,
         &spy_bufs,
         false,
@@ -1149,9 +1151,9 @@ fn buildHeaderSection(state: *State, app: *App, arena: std.mem.Allocator, lines:
     try appendReturnRow(lines, arena, th, spy_row);
 
     var agg_bufs: [5][16]u8 = undefined;
-    var agg_label_buf: [32]u8 = undefined;
+    var agg_label_buf: [48]u8 = undefined;
     const agg_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&agg_label_buf, config.benchmarkBond(), pctx.bond_pct * 100),
+        view.fmtBenchmarkLabel(&agg_label_buf, config.benchmarkBond(), bw.bond),
         comparison.bond_returns,
         &agg_bufs,
         false,
@@ -1159,7 +1161,13 @@ fn buildHeaderSection(state: *State, app: *App, arena: std.mem.Allocator, lines:
     try appendReturnRow(lines, arena, th, agg_row);
 
     var bench_bufs: [5][16]u8 = undefined;
-    const bench_row = view.buildReturnRow("Benchmark", comparison.benchmark_returns, &bench_bufs, true);
+    var bench_label_buf: [48]u8 = undefined;
+    const bench_row = view.buildReturnRow(
+        view.fmtBenchmarkAggregateLabel(&bench_label_buf, bw.covered),
+        comparison.benchmark_returns,
+        &bench_bufs,
+        true,
+    );
     try appendReturnRow(lines, arena, th, bench_row);
 
     try lines.append(arena, .{ .text = "", .style = th.contentStyle() });
@@ -1887,11 +1895,13 @@ fn buildLines(state: *State, app: *App, arena: std.mem.Allocator) ![]const Style
         .style = th.headerStyle(),
     });
 
-    // Return rows
+    // Return rows. Weights renormalized to the blend - see `benchmarkWeights`.
+    const bw = view.benchmarkWeights(stock_pct, ctx.bond_pct);
+
     var spy_bufs: [5][16]u8 = undefined;
-    var spy_label_buf: [32]u8 = undefined;
+    var spy_label_buf: [48]u8 = undefined;
     const spy_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&spy_label_buf, config.benchmarkStock(), stock_pct * 100),
+        view.fmtBenchmarkLabel(&spy_label_buf, config.benchmarkStock(), bw.stock),
         comparison.stock_returns,
         &spy_bufs,
         false,
@@ -1899,9 +1909,9 @@ fn buildLines(state: *State, app: *App, arena: std.mem.Allocator) ![]const Style
     try appendReturnRow(&lines, arena, th, spy_row);
 
     var agg_bufs: [5][16]u8 = undefined;
-    var agg_label_buf: [32]u8 = undefined;
+    var agg_label_buf: [48]u8 = undefined;
     const agg_row = view.buildReturnRow(
-        view.fmtBenchmarkLabel(&agg_label_buf, config.benchmarkBond(), ctx.bond_pct * 100),
+        view.fmtBenchmarkLabel(&agg_label_buf, config.benchmarkBond(), bw.bond),
         comparison.bond_returns,
         &agg_bufs,
         false,
@@ -1909,7 +1919,13 @@ fn buildLines(state: *State, app: *App, arena: std.mem.Allocator) ![]const Style
     try appendReturnRow(&lines, arena, th, agg_row);
 
     var bench_bufs: [5][16]u8 = undefined;
-    const bench_row = view.buildReturnRow("Benchmark", comparison.benchmark_returns, &bench_bufs, true);
+    var bench_label_buf: [48]u8 = undefined;
+    const bench_row = view.buildReturnRow(
+        view.fmtBenchmarkAggregateLabel(&bench_label_buf, bw.covered),
+        comparison.benchmark_returns,
+        &bench_bufs,
+        true,
+    );
     try appendReturnRow(&lines, arena, th, bench_row);
 
     try lines.append(arena, .{ .text = "", .style = th.contentStyle() });

src/views/projections.zig

@@ -144,9 +144,52 @@ pub fn fmtAllocationNote(buf: []u8, target_stock_pct: ?f64, current_stock_pct: f
     return .{ .text = text, .style = style };
 }
 
-/// Format the stock benchmark label with weight.
+/// Benchmark weights as the blend actually uses them.
+///
+/// `deriveAllocationSplit` returns stock/bond as fractions of the WHOLE
+/// portfolio, so they do not sum to 1 - the remainder is cash, CDs, options and
+/// anything with no `metadata.srf` row. `blendReturns` then renormalizes to the
+/// weight present (`benchmark.blendOptional`), which is what stops a cash sleeve
+/// dragging the benchmark down against a portfolio return that excludes it too.
+///
+/// The labels have to agree with that arithmetic. Printing the raw 84.9%/10.0%
+/// beside a row computed from 89.5%/10.5% invites the reader to multiply out and
+/// get 17.14% where the row says 18.06%. Both numbers are correct and the
+/// mismatch is entirely in the caption - the same trap that already cost an hour
+/// on the `--as-of` table and is why `review` prints that table's date.
+///
+/// Nothing is lost by renormalizing the caption: the raw portfolio weight of
+/// either leg is `stock/100 * covered`.
+pub const BenchmarkWeights = struct {
+    /// Share of the BENCHMARK. Sums to 100 with `bond`.
+    stock: f64,
+    bond: f64,
+    /// Share of the PORTFOLIO the benchmark covers.
+    covered: f64,
+};
+
+pub fn benchmarkWeights(stock_pct: f64, bond_pct: f64) BenchmarkWeights {
+    const w = stock_pct + bond_pct;
+    if (w <= 0) return .{ .stock = 0, .bond = 0, .covered = 0 };
+    return .{
+        .stock = stock_pct / w * 100.0,
+        .bond = bond_pct / w * 100.0,
+        .covered = w * 100.0,
+    };
+}
+
+/// Format the benchmark leg label with its weight *within the benchmark*.
 pub fn fmtBenchmarkLabel(buf: []u8, symbol: []const u8, weight_pct: f64) []const u8 {
-    return std.fmt.bufPrint(buf, "{s} ({d:.1}% weight)", .{ symbol, weight_pct }) catch symbol;
+    return std.fmt.bufPrint(buf, "{s} ({d:.1}% of benchmark)", .{ symbol, weight_pct }) catch symbol;
+}
+
+/// Label for the blended row. Discloses how much of the portfolio the blend
+/// covers, but only when it is materially short of all of it - on a fully
+/// classified stock/bond portfolio there is nothing to disclose and the bare
+/// word is less noise.
+pub fn fmtBenchmarkAggregateLabel(buf: []u8, covered_pct: f64) []const u8 {
+    if (covered_pct >= 99.5) return "Benchmark";
+    return std.fmt.bufPrint(buf, "Benchmark ({d:.1}% of portfolio)", .{covered_pct}) catch "Benchmark";
 }
 
 // ── Precomputed projection data (shared by CLI and TUI) ────────