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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*
*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 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 122.33 118.28 3.51 0.00 -0.44
VSO Vanguard MSCI Aus Small Companies Index ETF 8 High Long 19/04/2023 63.24 59.84 1.12 0.00 -3.61
VGS Vanguard MSCI Index International Shares ETF (ex-Aus) 13 Moderate Long 19/04/2023 100.55 108.12 1.80 0.00 9.32
MVA VanEck Australian Property ETF 10 Medium Long 19/04/2023 20.96 19.68 0.56 0.00 -3.44
IAF iShares Core Composite Bond ETF 17 Low Long 19/04/2023 101.94 99.20 1.03 0.00 -1.68
HBRD BetaShares Active Australian Hybrids Fund 13 Low Long 19/04/2023 10.01 10.07 0.38 0.00 4.40
IFRA VanEck FTSE Global Infra (Hedged) ETF 5 Low Long 19/04/2023 21.00 19.34 0.34 0.00 -6.29
GOLD Global X Physical Gold 5 Medium Long 19/04/2023 27.56 28.44 0.00 3.19
AAA BetaShares Aus High Interest Cash ETF 9 Low Long 19/04/2023 50.16 50.24 1.02 0.00 2.19
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Opinions for positions held in the Core ETF Portfolio

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.

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**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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Actions for positions held in the Core ETF Portfolio

A200
UPDATED 30/11/2023 08:50
MM remains cautiously bullish on the ASX200 into Christmas
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A200
UPDATED 29/11/2023 11:24
MM remains cautiously bullish toward the ASX200 short-term
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A200
UPDATED 28/11/2023 09:50
MM is cautiously bullish towards the ASX200 short-term
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A200
UPDATED 27/11/2023 11:48
MM is cautiously bullish towards the ASX200 short-term
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A200
UPDATED 25/11/2023 08:47
MM remains cautiously bullish towards the ASX200 short-term
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A200
UPDATED 24/11/2023 10:03
MM is neutral to cautiously bullish on the ASX200 around the 7025 area
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A200
UPDATED 23/11/2023 09:37
MM remains cautiously bullish on the ASX200 into Christmas
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A200
UPDATED 22/11/2023 16:44
MM remains cautiously bullish toward the ASX200 short-term
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HBRD
UPDATED 22/11/2023 16:42
MM likes the new WBCPM
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A200
UPDATED 22/11/2023 09:10
MM is cautiously bullish towards the ASX200 short-term
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