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 31/10/2023 17:00
Portfolio	1 M	3 M	6 M	1Y	3Y pa	ITD PA*
NEW Core ETF Portfolio	-2.06%	-4.64%	-3.34%	-	-	-2.88%
RBA Cash Rate +3%	0.59%	1.77%	3.52%	-	-	3.70%
Difference	(2.65%)	(6.41%)	(6.86%)	-	-	(6.58%)

* Inception date 19/04/2023

**Portfolio Holdings** 20 MINUTES DELAYED trade now
COMPANY CODE	STOCK NAME	WEIGHT (%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	LAST PRICE ($)	DIVIDEND ($)	GAIN / LOSS (%)
A200	BetaShares Australian 200 ETF	20	Moderate	Long	19/04/2023	122.33	118.28	3.51	-0.44
VSO	Vanguard MSCI Aus Small Companies Index ETF	8	High	Long	19/04/2023	63.24	59.84	1.12	-3.61
VGS	Vanguard MSCI Index International Shares ETF (ex-Aus)	13	Moderate	Long	19/04/2023	100.55	108.12	1.80	9.32
MVA	VanEck Australian Property ETF	10	Medium	Long	19/04/2023	20.96	19.68	0.56	-3.44
IAF	iShares Core Composite Bond ETF	17	Low	Long	19/04/2023	101.94	99.20	1.03	-1.68
HBRD	BetaShares Active Australian Hybrids Fund	13	Low	Long	19/04/2023	10.01	10.07	0.38	4.40
IFRA	VanEck FTSE Global Infra (Hedged) ETF	5	Low	Long	19/04/2023	21.00	19.34	0.34	-6.29
GOLD	Global X Physical Gold	5	Medium	Long	19/04/2023	27.56	28.44		3.19
AAA	BetaShares Aus High Interest Cash ETF	9	Low	Long	19/04/2023	50.16	50.24	1.02	2.19

OPINION
ACTION

Opinions for positions held in the Core ETF Portfolio

27/11/2023 08:53

Equity Indices

The ASX200 is set to open firmly this morning, up around +0.2%, following in the footsteps of European indices as opposed to the US, which remained in holiday mode. Last week was quiet on the index level, causing many pundits to say the November rally is running out of puff. Still, we are comfortable giving equities the benefit of the doubt due to the US holiday period.

22/11/2023 09:28

New Westpac Hybrid (WBCPM)

Westpac launched a new Hybrid on Monday to replace an existing security due to be called in July of 2024 (WBCPI). The new money book closed early due to demand and on the last book update, they had ~$3.4bn worth of bids for both new money and the reinvestment of the existing (WBCPI). They initially said they would raise $750m which is the usual line, however, we suspect they will print north of $1.5bn, given the existing WBCPI has $1.4bn on issue.

20/11/2023 09:01

Equity Indices

The ASX200 is set to open firmly this morning, with the Financials and Energy Sectors likely to be most supportive if we take our lead from overseas bourses. At MM, we remain believers in a Santa Rally this year if for no other reason than we’ve seen it so often in the past, with November already up ~4%, it's hard to recommend chasing strength, but we do see further upside over the coming weeks.

13/11/2023 08:54

Equity Indices

The ASX200 is set to open back above 7000 this morning, with a 40c advance by BHP Group (BHP) in the US set to be supportive early this morning. The Friday night rally in the US was headed by a surge in big tech aided by a relatively calm session across bond markets as investors enjoyed a lack of major surprises from Fed speakers – the “no news” path of least resistance is higher for US indices.

08/11/2023 09:19

New Westpac Hybrid deal expected

Media reports are suggesting a new hybrid security from Westpac will be launched next week to raise $1.5bn in tier 1 capital, around 18 months since they tapped the hybrid market under the Capital Notes 9 offer (WBCPL), which was issued at a margin of 3.40%. The deal will be used to replace an existing hybrid on issue, the Westpac Capital Notes 6 (WBCPJ) which is due to be called in July of 2024.

06/11/2023 08:58

Equity Indices

The ASX200 is set to test 7000 this morning, although a slight ~10c dip by BHP Group (BHP) in the US will likely slow the index around the psychological level, especially after the index has already surged ~3.4% from last week's low. We remain optimistic towards the local index into Christmas, and we wouldn’t be surprised to see another test of the 7500-7600 resistance level by the time we welcome 2024.

03/11/2023 09:19

Our favourite 4 Real Estate Plays if yields have peaked

The Real Estate Sector has endured tough times of late, the local sector is down close to 5% in 2023, while the US equivalent has plunged over -38% from its early 2022 high, less than two years ago. Post-Covid, we’ve seen some tremendous returns from battered sectors when the dial finally turned with Tech, Coal and Gold all coming to mind, we believe the Property Sector could be throwing its hat into the proverbial ring as the next candidate.

30/10/2023 08:56

Equity Indices

The ASX200 is set to dip back towards 6750 this morning, posting a fresh 12-month low in the process. We are still looking for a strong recovery through November/December, but as we said last week, “from where has become the million dollar question”. Considering the Middle East tensions, hawkish central banks, and ongoing market weakness, we now have to allocate a 50% possibility that the local index will test its 2-year support.

23/10/2023 08:44

Equity Indices

The ASX200 is set to dip back towards 6850 this morning, posting a fresh 4-month low in the process. We still expect a strong recovery through November/December, but as we’ve said previously, from where has become the “million dollar question”. Taking into account the Middle East tensions and hawkish central banks, we now have to allocate a 25% possibility that the local index will test its 2-year support, back around the 6500 area, or ~5% below Friday's close.

09/10/2023 09:01

Equity Indices

The ASX200 was set to pop back above 7000 this morning following a very impressive Friday session on Wall Street, which saw stocks shrug off a very strong non-farm payrolls number (employment data). Obviously, after the events over the weekend, it's harder to predict what lays in store this morning, but we still believe stocks are looking for, or have found a low, and are set to rally into Christmas; hence, we are “buyers of dips as opposed to sellers of strength” until further notice.