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Core ETF Portfolio

For those seeking a dynamically managed, balanced ETF portfolio

About Market Matters Portfolios

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
Portfolio 1 M 3 M 6 M 1Y 3Y pa ITD PA*
CORE ETF 3.18% 6.23% 11.81% - - 10.68%
RBA CASH RATE +3% 0.61% 1.81% 3.62% - - 6.78%
VALUE ADD +2.57% +4.42% +8.19% - - +3.90%
* Inception date 19/04/2023
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDEND ($) DAILY CHANGE (%) GAIN / LOSS (%)
A200 BetaShares Australian 200 ETF 20 Moderate Long 19/04/2023 122.33 129.25 6.36 0.00 10.86
VSO Vanguard MSCI Aus Small Companies Index ETF 8 High Long 19/04/2023 63.24 65.98 2.23 0.00 7.86
VGS Vanguard MSCI Index International Shares ETF (ex-Aus) 13 Moderate Long 19/04/2023 100.55 122.35 3.36 0.00 25.02
MVA VanEck Australian Property ETF 10 Medium Long 19/04/2023 20.96 21.82 1.10 0.00 9.35
IAF iShares Core Composite Bond ETF 17 Low Long 19/04/2023 101.94 100.27 1.68 0.00 0.01
HBRD BetaShares Active Australian Hybrids Fund 13 Low Long 19/04/2023 10.01 10.14 0.64 0.00 7.69
IFRA VanEck FTSE Global Infra (Hedged) ETF 5 Low Long 19/04/2023 21.00 19.46 0.73 0.00 -3.86
GOLD Global X Physical Gold 5 Medium Long 19/04/2023 27.56 33.54 0.00 21.70
AAA BetaShares Aus High Interest Cash ETF 9 Low Long 19/04/2023 50.16 50.18 1.92 0.00 3.87
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Opinions for positions held in the Core ETF Portfolio

First Up

Overnight, the influential former Federal Bank of St. Louis President James Bullard said he's expecting three rate cuts in 2024 as inflation moves towards the Feds target even while the economy remains resilient, i.e. the “Goldilocks” scenario for stocks. Bullard’s outlook echoed the Fed’s messaging as opposed to the increasing market expectations that two cuts have become more likely than three, e.g. Treasury yields made new highs for the year on Monday night. Mr Bullard is indirectly quoting the old adage of “don’t fight the Fed”.

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First Up

The ASX200 eked out a small +0.25% gain on Monday after promising more early in the session. It was a very mixed day under the hood, although the gold stocks continued to shine as the precious metal challenged the $US2,350 area. Remember what we said on Monday: "Gold now looks on-course to test ~$US2,500 before encountering any resistance.” As we’ve witnessed over recent years, with lithium, uranium and coal, when a commodity gets the bit between its teeth, it can rally far harder and further than most analysts predict, although we must remain cognisant that commodities are cyclical in nature and when the music does stop playing you don’t want to find yourself “hoping” it will again come good, Lithium being the most obvious recent example - it can simply take years to recover!

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Equity Indices

The ASX200 slipped 1.6% as it kicked off April with a shortened week. As we’ve pointed out a few times recently, every month of 2024 has delivered an average pullback of around 260 points —so far, April has produced a 169-point pullback, and it's only one week old. Our preferred scenario is that the ASX200 will test at least the 7700 level over the coming weeks; hence, we will likely be patient before putting our slightly higher cash levels back to work.

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First Up

Tuesday delivered a fascinating session for Australian investors. A macro arm wrestle unfolded, causing significant action under the hood before the index eventually slipped just -0.1 %. This was a solid performance, in our opinion, considering Thursday's storming session to end the quarter. The bulls welcomed a resurgence in China-facing stocks, while interest rate-sensitive names struggled as the doves pulled back bets on a Fed rate cut in June. We're conscious that over recent years, bonds and stocks haven't walked a different path for very long.

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Equity Indices

The ASX200 punched to new all-time highs on Thursday, ahead of the four-day Easter break, not the move of a bearish/nervous market. Local stocks exited last week, with almost 90% of stocks closing higher on the day, although we shouldn’t get too excited as it was the end of the quarter, a classic time for some “window dressing” by fund managers. MM said a few weeks ago that we wouldn’t be surprised to see a test of the 7900-8000 area by local index this FY, we’re already looking too conservative.

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First Up

As the market slips into the Easter long weekend, some profit-taking felt evident on Tuesday, no great surprise considering the index has rallied over 15% from its November low. The afternoon selling wasn’t overly aggressive, but as we touched on yesterday morning, the markets are a touch bullish and long; hence, some book-squaring/selling by the weak longs didn’t encounter any significant resistance. One of the main themes of 2024 to date has been the strong getting stronger and often the weak getting weaker, even as the ASX200 forged to fresh all-time highs. A quick glance at some sectors three months into the year tells the tale: remember, the index is up a healthy +2.5%.

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First Up

The ASX200 followed in the footsteps of European indices, closing up +0.5% on Monday, although it failed to post fresh all-time highs after knocking on the door into lunch. We saw some mild profit-taking wash through some stocks into early strength, but with broad-based buying taking over 65% of stocks higher, there's no reason to doubt the market can’t test the 7900-8000 area in 2024. Amazingly, it was only four months ago that the market managed to break back above the 7000 level.

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Equity Indices

The ASX200 enjoyed a solid penultimate week of March, taking solace from the FOMC’s read on interest rates with the Materials, Real Estate and Financials leading the advance, whereas weakness in the Consumer Staples and Utilities Sectors illustrated it was another week of “risk on” for stocks. In line with global equities, especially the European stocks, our preferred scenario is to see a test of the 7900-8000 region over the coming weeks. Still, we are conscious that the seasonally weak “sell in May & go away” period is approaching fast.

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First Up

The ASX200 had another quiet session on Wednesday as we awaited the Fed, the third piece of the monetary policy puzzle from central banks this week. The Energy Sector stemmed the day’s losses, which saw 8 of the market's 11 sectors close lower, while gold names were noticeable in the loser's enclosure. Stocks continue to rotate, with the ability to sell spikes and buy dips still looking like the best approach to add value to portfolios through 2024. At this point, we have several stocks close to both our sell zone and buy zones, hence, some alerts might be close at hand.

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First Up

Yesterday saw the ASX200 recover from early losses to close marginally higher, aided by a solid bounce by the banks and some impressive performances from our mid-tier miners, i.e. the best two sectors were the worst last week as stock/sector rotation continues. Conversely, following in the footsteps of a weak bond market following the robust US economic data last week, the rate-sensitive Real Estate Sector was by far the weakest area of the market, falling -1.9%, dragged lower by high-flying Goodman Group (GMG), which ended the session down -3.6%.

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Actions for positions held in the Core ETF Portfolio

A200
UPDATED 15/04/2024 10:19
MM remains cautiously bullish toward the ASX200 around the 7800 area
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A200
UPDATED 12/04/2024 09:58
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 11/04/2024 11:40
MM remains cautiously bullish toward the ASX200 around the 7850 level
Add To Hit List
A200
UPDATED 10/04/2024 09:53
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 09/04/2024 09:52
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 08/04/2024 09:44
MM remains cautiously bullish toward the ASX200 around the 7800 area
Add To Hit List
A200
UPDATED 06/04/2024 09:18
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 05/04/2024 12:24
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 05/04/2024 12:20
MM remains cautiously bullish toward the ASX200 around the 7800 level
Add To Hit List
A200
UPDATED 03/04/2024 08:56
MM remains cautiously bullish toward the ASX200 around the 7900 level
Add To Hit List
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