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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 1M 3 M 6 M 1Y 3Y pa ITD PA*
CORE ETF 0.70% -0.69% 5.51% 10.30% - 8.24%
RBA CASH RATE +3% 0.59% 1.81% 3.63% 7.28% - 7.19%
VALUE ADD +0.11% (2.50%) +1.88% +3.02% - +1.05%
* Inception date 19/04/2023
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDEND ($) DAILY CHANGE (%) GAIN / LOSS (%)
A200 BetaShares Australian 200 ETF 20 Moderate Long 19/04/2023 122.33 132.93 7.38 -0.75 14.70
VSO Vanguard MSCI Aus Small Companies Index ETF 10 High Long 19/04/2023 64.04 65.85 2.39 -1.20 6.56
VGS Vanguard MSCI Index International Shares ETF (ex-Aus) 13 Moderate Long 19/04/2023 100.55 124.80 5.54 -0.27 29.63
MVA VanEck Australian Property ETF 10 Medium Long 19/04/2023 20.96 22.04 1.65 -1.25 13.02
IAF iShares Core Composite Bond ETF 17 Low Long 19/04/2023 101.94 100.27 2.33 -0.15 0.65
HBRD BetaShares Active Australian Hybrids Fund 13 Low Long 19/04/2023 10.01 10.17 0.79 -0.10 9.49
IFRA VanEck FTSE Global Infra (Hedged) ETF 5 Low Long 19/04/2023 21.00 20.80 0.90 0.05 3.33
GOLD Global X Physical Gold 5 Medium Long 19/04/2023 27.56 33.31 -1.45 20.86
AAA BetaShares Aus High Interest Cash ETF 7 Low Long 19/04/2023 50.16 50.22 2.48 0.00 5.06
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
AAA High Interest Cash ETF 2 Low Long 17/07/2024 50.16 50.2 2.48 5.02
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Opinions for positions held in the Core ETF Portfolio

First Up

The ASX200 enjoyed a strong day at the office on Tuesday, adding to a solid opening throughout the day to finish up over 1%. Gains were encouragingly broad-based, with over 75% of the main board and all 11 sectors closing in positive territory as sellers appeared to take a lead from the looming US Juneteenth National Independence Day holiday. There were a couple of standout moves that should unsettle the numerous bears who are getting plenty of air time in the press.

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First Up

As we’ve discussed previously, this elastic band could stretch further into June 30th, but what comes next is the important question. In a nutshell, MM believes AI is a very real structural shift whose benefits will reach well beyond Nvidia (NVDA US). However, as we’ve witnessed with lithium, optimism can stretch way too far before a reality check delivers what is likely to be no more than a healthy correction. We are investing in extremely exciting times that can deliver solid returns for flexible and open-minded investors.

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Equity Indices

The ASX200 market slipped lower throughout the shortened week, finally closing down -2%, with a very heavy Resources Sector dragging the index lower. The EOFY is only a fortnight away, with volatility likely to lift on the stock level, and history tells us that’s not great for the underperformers. Year to date, the Materials Sector is down -11.7%, making it a prime target for some tax loss selling.

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First Up

The ASX200 almost begrudgingly climbed +0.4% on Thursday, with the Materials Sector continuing to weigh on the broad-based index while tech stocks led the gains. Same story, different day! The Tech Sector is now up +26.3% year-to-date compared to the Materials Sector, which is down -11.2%, and importantly, over the coming weeks, the performance elastic band is unlikely to receive any reprieve from the likes of tax loss selling; if anything, it will exaggerate the gap further i.e. selling stocks with big capital gains consequences makes little sense so close to the EOFY while fund managers like to hold winners so they can talk about them in post-June 30 marketing material!

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It’s almost halfway through CY24 – can any of the “dogs” recover?

We all know that 2024 has delivered a noticeably differing performance on the sector level so far, and this particular elastic band is likely to be stretched further this morning. The Tech Sector has outperformed the Materials by a whopping 35%. After moves overnight and renewed Chinese economic jitters, we could easily see it reach 40% this FY.

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First Up

The ASX200 slipped another -0.5% on Wednesday, with the usual suspects dragging the index into the red. The banks followed their US peers lower to quash any chance of an intra-day recovery, although it was encouraging to see the market at least hold its ground for most of the session. The Resources Sector again dragged the main board as China's weaker-than-expected inflation numbers fuelled concerns of weak demand.

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First Up

We are less than halfway into June, and Europe has already elevated volatility across equity markets following a rate cut by the ECB and looming elections in the UK and France, where, in both cases, the incumbent party is in real danger of being ousted. There is an old saying that when the Dow sneezes, the ASX catches a cold; however, in the current market environment, the ASX is far more correlated to European stocks on a day-to-day basis, although, unfortunately, we have been underperforming both regions so far this year.

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Equity Indices

The ASX200 has to digest two overnight sessions this morning: Friday's choppy affair after the US's strong employment data, followed by last night’s recovery with the S&P500 closing up +0.2%, plus last night's weak session in Europe following Macron's Surprise call for a “snap election.” On Friday, the local market rallied strongly to close on its daily and weekly highs. We think it’s likely to regain its mojo this morning after a shaky start courtesy of two “wobbly”  overseas sessions.

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First Up

The ASX200 continued to advance towards new all-time highs on Thursday, finishing the session around 1% below the milestone posted in mid-April. The local market appeared to take some encouragement from Canada's rate cut from 5% to 4.75%, although the bulls shouldn’t get too carried away with headline inflation in Canada sitting at 2.7% compared to our own at 3.6%. Similarly, overnight, the ECB cut interest rates from 4.50% to 4.25%, a move that was fully expected.

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First Up

The ASX200 experienced a fascinating Wednesday, which saw the index close up +0.4% in a classic session of “two halves”.  The standout for the bears was the Materials and Energy Sectors, which extended their underperformance through much of 2024. The soft Australian GDP print did nothing to help the economically sensitive sector, with our economy only growing by 1.1% over the last year, although it does at least suggest rate cuts are on the horizon.

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Actions for positions held in the Core ETF Portfolio

A200
UPDATED 20/07/2024 08:35
MM is neutral towards the ASX200
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IFRA
UPDATED 19/07/2024 09:58
MM long and bullish the IFRA ETF
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A200
UPDATED 19/07/2024 09:05
MM is neutral towards the ASX200
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AAA
UPDATED 18/07/2024 11:09
MM are trimming the cash ETF (AAA) in the Core ETF Portfolio, reducing by 2% to a 7% target weight
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VSO
UPDATED 18/07/2024 11:09
MM are adding to Small Caps using VSO in the Core ETF Portfolio, allocating a further 2%, taking it to a 10% target weighting, around $67
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A200
UPDATED 18/07/2024 09:33
MM is neutral to cautiously bullish toward the ASX200 around the 8000 level
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A200
UPDATED 17/07/2024 09:05
MM is neutral to cautiously bullish toward the ASX200 around the 8000 level
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A200
UPDATED 16/07/2024 10:00
MM is neutral to cautiously bullish toward the ASX200 around the 8000 level
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A200
UPDATED 15/07/2024 09:11
MM is neutral towards the ASX200, around 8000
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A200
UPDATED 15/07/2024 09:10
MM is looking for sector reversion over the next 6-12 months
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