Core ETF Portfolio

For those seeking a dynamically managed, balanced ETF portfolio

About the Portfolio

The Market Matters Core ETF Portfolio includes equity, fixed-income and alternative asset ETFs to populate a core portfolio within a well-defined (yet dynamic) asset allocation structure, broadly considered to be a balanced approach. The portfolio could serve as the ‘core’ for a broad range of more passively minded investors

**Portfolio Performance** UPDATED 31/12/2025 17:00
Portfolio	1M	3 M	6 M	1Y	2Y pa	ITD PA*
CORE ETF	0.25%	1.41%	6.71%	12.68%	14.15%	12.32%
RBA CASH RATE +3%	0.55%	1.64%	3.33%	6.88%	6.88%	6.93%
VALUE ADD	(0.30%)	(0.23%)	+3.38%	+5.8%	+7.27%	+5.39%

* Inception date 30/07/2023

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDEND ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
A200	BetaShares Australian 200 ETF	15	Moderate	Long	19/04/2023	122.33	147.52	13.44	-0.57	31.58
VGS	Vanguard MSCI Index International Shares ETF (ex-Aus)	13	Moderate	Long	19/04/2023	100.55	149.28	9.28	0.57	57.69
HBRD	BetaShares Active Australian Hybrids Fund	13	Low	Long	19/04/2023	10.01	10.14	1.52	0.00	16.48
VSO	Vanguard MSCI Aus Small Companies Index ETF	10	High	Long	19/04/2023	64.04	78.41	9.08	-1.88	36.62
MVA	VanEck Australian Property ETF	10	Medium	Long	19/04/2023	20.96	25.04	2.67	0.64	32.20
IAF	iShares Core Composite Bond ETF	10	Low	Long	19/04/2023	101.94	101.31	4.32	0.03	3.62
CRED	Betashares IG Corporate Bond ETF	15	Low	Long	18/07/2025	23.40	23.18	0.06	0.09	-0.68
IFRA	VanEck FTSE Global Infra (Hedged) ETF	5	Low	Long	19/04/2023	21.00	23.88	1.58	0.46	21.24
GOLD	Global X Physical Gold	5	Medium	Long	19/04/2023	27.56	68.10		-5.29	147.10
AAA	BetaShares Aus High Interest Cash ETF	4	Low	Long	19/04/2023	50.16	50.23	4.63	-0.02	9.37

**Recent Sales** UPDATED 21/01/2026 00:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
A200	Betashares ASX 200 ETF	Trimmed 5%	Moderate	Long	21/01/2026	122.33	146.02	13.44	30.35
IAF	iShares Core Composite Bond ETF	Trimmed 7%	Low	Long	18/07/2025	101.94	103.15	6.04	7.25
AAA	High Interest Cash ETF	Trimmed 3%	Low	Long	18/07/2025	50.16	50.18	4.47	8.95
AAA	High Interest Cash ETF	Trimmed 2%	Low	Long	17/07/2024	50.16	50.2	2.48	5.02

OPINION
ACTION

Opinions for positions held in the Core ETF Portfolio

30/01/2026 09:28

First Up

The ASX 200 recovered from early steep losses yesterday to end Thursday's session down just -0.1%, the reverse of Wednesday's price action. It was another session of polarised performance, although most eyes on trading desks were glued to the prices of copper and gold, whose volatility was almost unprecedented.

20/01/2026 23:22

Portfolio Amendments – Core ETF Portfolio

We are reducing Australian equities and increasing fixed income

23/12/2025 09:15

First Up

The ASX 200 surged to a 5-week high on Monday, closing up +0.9% as the traditional lack of selling during the festive season was met with fairly aggressive buying across the miners, who spent much of the day jockeying for position on the leaderboard. Interestingly, even as gold and silver surged to new all-time highs and copper flirted with its equivalent milestone, it was the uranium names that won this particular race:

12/12/2025 09:27

VanEck Australian Property ETF (MVA) $25.76

This MVA ETF gives comprehensive coverage to the ASX200 property sector, which, as would be expected, has struggled as credit markets changed their stance towards local interest rates into 2026. The reaction has been far tamer than with tech, which has also needed to deal with the ”AI Trade” being banished to the proverbial naughty corner. If hawkish fears fade with more soft data, like yesterday's employment numbers, we should see a recovery by Australian property stocks, but this may take time.

31/10/2025 09:40

BetaShares High Interest Cash ETF (AAA) $50.24

The BetaShares Australian High Interest Cash ETF (AAA) invests in a portfolio of deposit accounts with major Australian banks, aiming to deliver returns in line with the bank bill rate. It provides monthly income distributions and serves as a low-risk, cash-like vehicle for investors seeking capital stability and liquidity.

12/09/2025 09:34

Vanguard MSCI Small Companies ETF (VSO) $74.71

We continue to hold a bullish view on the Australian market heading into 2026, noting that small-caps have been at the forefront of this year’s gains, outperforming the ASX 200 by close to 10% year-to-date.

12/09/2025 09:33

BetaShares ASX200 ETF (A200) $148.11

We like the Australian market moving into 2026, which is in line with our bullish equities outlook, especially because of its significant resource weight and high correlation to China, whose economy we believe is turning the corner.

18/07/2025 09:56

Core ETF Portfolio – Amendments

We are making three changes to the core ETF portfolio.

11/07/2025 08:59

Vanguard MSCI Small Companies ETF (VSO) $68.28

The VSO ETF seeks to track the return of the MSCI Australian Shares Small Cap Index before costs. Of the 190 stocks held, the five largest positions are Technology One (TNE) 2.5%, JB Hi-Fi (JBH) 2.5%, GPT Group (GPT) 1.9%, Orica (ORI) 1.9%, and Mirvac (MGR) 1.9% with plenty of smaller positions in the mix, but not as “small cap” as many may initially think: The index/ETF aims to capture the small cap size segment of the Australian equity market which represents approximately 14% of its market capitalisation, i.e. no heavyweights.

13/06/2025 09:50

BetaShares ASX200 ETF (A200) $143.57

The A200 is our preferred proxy for exposure to Australian equities, and a number of dual listed NZ names. This large ETF is very cost-effective, with an annual cost of 0.04%, while it has tracked its benchmark, the Solactive Australia 200 Index, within 0.2% over the last 1, 3, and 5 years.