BetaShares S&P/ASX 200 Resources Sector ETF (ASX: QRE) $10.68

The QRE ETF holds 55 local resource stocks, but it’s dominated by BHP, which makes up around 37% of the ETF, followed by RIO and Woodside, both 7-8% respectively. The Budget didn’t overly impact the resources sector, but it did elevate them in the ranking as a “safer” place to look for yield on the ASX.

The ETF has yielded just over 2%, mostly franked, over the last 12 months, while advancing an impressive ~23% year-to-date – we see more of the same, outperformance supported by small steady yield.

• We are initially looking for the QRE ETF to trade through $11, and over time, much higher in line with our view that a commodities Supercycle, led by copper, is underway.