The Market Matters Global Macro ETF Portfolio Tracks our top 10 global macro calls, and provide avenues to trade them via ASX and internationally listed Exchange Traded Funds (ETF’s) – Click here to view
The MM Global Macro ETF Portfolio slipped -0.68% last week with noticeable weakness from our Copper ETF (COPX US) -3.1% and European equities (VGK US) -2.9% positions, conversely support came from an improvement in our Australian Dollar (AUDS US) +4.2% and battery & lithium ETF (ACDC) +2% holdings.
We still have a couple of positions we are looking to switch in the coming weeks but as we’ve alluded to earlier in the report the next 24 hours could either trigger these moves or force a rethink:
- MM is still looking to switch our Emerging Markets (IEM) position for a small loss into ASX traded BetaShares Global Energy ETF (FUEL) following its 23% correction.
- Assuming we are correct and equities rally into August we will be looking to reduce stock market exposure e.g. scratch the Vanguard FTSE Europe ETF (VGK US).
- We are now also looking to switch our BetaShares NASDAQ 100 ETF (NDQ) into locally traded BetaShares Global Healthcare ETF (DRUG) – a change from last week as we’ve decided against increasing our China exposure over the coming months due to ongoing political uncertainty around the world’s second-largest economy with Shenzhen now seeing increasing Covid numbers i.e. we already hold the ASIA and COPX ETF’s that are correlated to China.
