The great advantage of a factor-based approach is that it ensures that as much curve movement as possible is attributed to shift movement, and that twist and curvature motion are given as small values as possible. This allows apparently straightforward reporting, because hard-to-understand curve movements are always assigned small weights in an attribution analysis. However, this is at the cost of a distortion of the other results. On the other hand, a naïve interpretation of the terms shift, twist, curvature when applied to yield curve movements may well give rise to higher order movements that are much higher than investors would expect.