Comparisons

What is the Comparisons Feature?

The Comparisons feature in DiligenceVault allows requesters to select multiple due diligence projects, built from the same template, and view their responses side by side on a single screen. Whether you are reviewing the same manager across different time periods or benchmarking multiple managers against each other, Comparisons gives your team a structured, efficient way to identify differences, track changes, and make informed decisions.

You can compare up to 10 projects at once. Each selected project appears as its own column, with questions listed on the left and responses displayed in parallel, making it easy to spot gaps, inconsistencies, and changes without switching between tabs or documents.

How to Compare Projects : 

1. Go to Analyze and click on Comparisons
2. Select a Template: Choose the template the projects you want to compare were built on. Only projects using the same template can be compared, ensuring questions are identical across all projects.
3. Filter by Classification (Optional): Use the Classification filter to narrow results to a specific fund type or category. Leave it set to All Classifications to see all matching projects.
4. Set a Date Range or Clear Filters: Use the date range filter to see projects created within a specific window. To compare all available projects under that template regardless of date, click Reset Filters to clear the date selection.
5. Click Show Results: The platform displays all matching projects as cards, each showing the project name, creation date, flag count, score, and number of questions answered.
6. Select Up to 10 Projects: Click the project cards you want to include. Selected projects are highlighted with a tick. You can select between 2 and 10 projects.
7. Click Compare: Click the Compare button in the top-right corner. The platform opens the Compare Due Diligences view, with each selected project as a column and every question displayed row by row.

Understanding the Four Comparison Views

Once inside the comparison view, four tabs let you focus on different aspects of the analysis:

Use Cases: Who Uses Comparisons and How?

The Comparisons feature is valuable across every team involved in due diligence. Below are the primary use cases for each team type, with real-world scenarios illustrating how the feature saves time and improves decision quality.

1.   Operational Due Diligence (ODD) Teams

For: ODD Analysts · Compliance Officers · Risk Officers

Annual Re-Review: Spotting What Changed

ODD teams conduct periodic reviews of the same managers year after year. The key question is always: what has changed since last time? Comparisons makes this immediate.

• Select the two most recent ODD projects for the same manager.
• Use Track Changes to see which responses were updated, what was added, and what was removed — highlighted directly within the response.
• Focus attention on changed answers rather than re-reading the entire DDQ from scratch.

Manager Shortlist: Operational Risk Benchmarking

When assessing a shortlist of new managers, ODD teams need to evaluate operational strength consistently across all candidates.

• Select up to 10 manager projects created from the same ODD template.
• Use Show All to view every manager's response to each operational question in parallel like service providers, valuation policies, business continuity, and compliance frameworks.
• Use the Flagged tab to surface only the questions flagged for concern, helping prioritize which managers need deeper investigation.
• Use Score Map to compare operational risk scores across all managers at a glance.

2.   Investment Due Diligence (IDD) Teams

For: Portfolio Analysts · Investment Officers · IC Prep Teams

Performance Trend Analysis: Same Manager, Multiple Periods

IDD teams track how a manager's investment thesis, process, and performance evolves over time. Comparisons makes period-over-period analysis systematic.

• Select quarterly or annual IDD projects for the same manager across multiple review cycles.
• Use Show All to see how strategy, team, and performance responses have changed across periods.
• Use Track Changes for two-period comparisons to see exactly how the manager refined their investment thesis or adjusted their process narrative.
• Use Score Map to track how the manager's investment scores have trended over time.

Manager Shortlist: Side-by-Side Investment Thesis Comparison

Before an allocation decision, IDD teams need to compare competing managers on strategy, team quality, and performance, all within the same evaluation framework.

• Select projects from multiple competing managers built on the same IDD template.
• Use Show All to compare investment philosophy, portfolio construction, and performance attribution responses side by side.
• Identify which managers provided the most detailed and credible responses, and which left key sections incomplete.
• Use Score Map to rank managers numerically on investment quality for IC presentation.

3.   ESG & Sustainability Teams

For: ESG Analysts · Sustainability Officers · Impact Investors

ESG Progress Tracking: Year-over-Year Improvement

ESG teams monitor whether managers are genuinely improving their ESG practices over time. Comparisons provides a clear view of how responses have evolved.

• Select ESG-focused projects for the same manager across consecutive annual review cycles.
• Use Track Changes to identify where a manager has updated their ESG policy, DEI commitments, or reporting practices.
• Use Score Map to track ESG score progression and verify whether improvement commitments from prior reviews have been acted upon.

ESG Peer Benchmarking Across Managers

When evaluating multiple managers against an ESG framework, Comparisons enables direct, structured benchmarking across the cohort.

• Select ESG projects from multiple managers built on the same ESG template.
• Use Show All to compare responses to ESG policy availability, carbon reporting, diversity statistics, and regulatory classification side by side.
• Use the Flagged tab to surface questions where specific managers have been flagged for inadequate responses.
• Use Score Map to rank all managers by ESG score for portfolio-level reporting.

4.   Risk Teams

For: Risk Analysts · Portfolio Risk Officers · Compliance Teams

Liquidity and Risk Term Comparison Across Portfolio Managers

Risk teams evaluating a portfolio of managers need to compare liquidity profiles, counterparty exposures, and risk limits across all holdings.

• Select risk DDQ projects for multiple portfolio managers using the same risk template.
• Use Show All to compare lock-up periods, redemption frequencies, counterparty lists, and leverage limits side by side.
• Use Score Map to compare risk scores and identify which managers carry the highest aggregate risk.

Change Detection: Service Provider and Counterparty Updates

Risk teams must track changes in key service provider relationships — administrator, prime broker, auditor — which can signal operational risk or undisclosed changes.

• Compare two consecutive annual DDQ projects for the same manager using Track Changes.
• Identify any changes to prime broker, administrator, or auditor responses directly in the comparison view.
• Flag changes for follow-up and document the finding within the evaluation record.

Summary: Why Use Comparisons?

The Comparisons feature addresses the core challenge of due diligence at scale — keeping track of what changed, who said what, and how managers stack up — without the inefficiency of toggling between documents, spreadsheets, or browser tabs.

For questions or support, contact your DiligenceVault Client Success Manager.