Global Macro ETF Portfolio

For those looking to invest in our top macro calls via ETFs

21.24% Global Macro ETF Portfolio FY21 Performance to date

About the Portfolio

The Market Matters Global Macro ETF Portfolio is designed to track our top 10 global macro calls, and provide avenues to trade them via ASX and internationally listed Exchange Traded Funds (ETF’s)

**Portfolio Performance** UPDATED 28/02/2021 00:00
Portfolio	1 M	3 M	6 M	1 Y	3 Y pa	Inception pa*
Global Macro ETF	-0.24%	7.19%	20.17%	28.87%	-	14.81%
Target 10%	0.83%	2.50%	5.00%	10.00%	-	10.00%
Difference	-1.07%	+4.69%	+15.17%	+18.87%	-	+4.81%

* Inception date 03/07/2019

**Portfolio Holdings** UPDATED 14/04/2021 08:00 trade now
COMPANY CODE	STOCK NAME	WEIGHT (%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
AUDS	BetaShares Strong Australian D	10	High	Medium	03/07/2019	11.76	11.02	1.16	3.57
BNKS	BetaShares Global Banks ETF -	10	Moderate	Medium	25/10/2019	6.65	6.5	0.07	-1.2
DBA US	Invesco DB Agriculture Fund (USD)	6	Moderate	Medium	25/02/2020	15.62	17.29		10.69
ETPMAG	ETFS Metal Securities Australi	10	Moderate	Medium	12/08/2020	32.13	30.67		-4.54
IEM	iShares MSCI Emerging Markets	10	Moderate	Short	25/10/2019	63.23	70.07	2.24	14.36
QQQ US	Invesco QQQ Trust Series 1 (USD)	10	Moderate	Medium	22/09/2020	270	340.6	0.56	26.36
VGK US	Vanguard FTSE Europe ETF (USD)	10	Moderate	Medium	11/11/2020	58.05	65.29	0.38	13.13
VXX US	iPath Series B S&P 500 VIX Sho (USD)	5	Moderate	Short	8/04/2021	10.77	10.09		-6.31

Portfolio cash position: 29%

**Recent Sales** UPDATED 07/04/2021 17:00 trade now
Company code	STOCK NAME	WEIGHT(%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
FUEL	Betashares Global Energy Compa	10	High	Medium	22/04/2020	3.25	4.25	0.13	34.77
COPX US	Global X Copper Miners ETF (USD)	10	Moderate	Short	10/03/2021	17.73	36.39	0.45	107.78
TBF US	ProShares Short 20+ Year Treas (USD)	10	Moderate	Medium	10/03/2021	17.56	17.65	0.04	0.74
SVXY US	ProShares Short VIX Short Term	10	High	Short	3/12/2020	30.19	41.16		36.34
SLVP US	iShares MSCI Global Silver Miners	5	Moderate	Medium	28/05/2020	11.35	12.01	0.19	7.49
QQQ US	Invesco QQQ Trust Series 1	5	Moderate	Medium	22/05/2020	204.89	228.87		11.70
GDX	Vaneck Vectors Gold Miners	7.5	Moderate	Medium	25/02/2020	35.84	46.72	0.23	31.00
SH US	ProShares Short S&P500	8	High	Medium	25/02/2020	26.44	23.99	0.2	-8.51

OPINION
ACTION

Opinions for positions held in the Global Macro ETF Portfolio

15/04/2021 09:20

Defensive stocks are looking interesting

MM is a long term buyer and believer in equities but as active investors we are comfortable at times moving aggressively overweight both individual stocks, sectors and cash itself.

15/04/2021 09:17

NASDAQ

MM has been calling the US tech based NASDAQ index to scale the 14,000 region for months before the risk / reward would favour de-risking.

14/04/2021 09:44

BetaShares Global Banks ETF (BNKS) $6.50

MM has maintained confidence in the banks for the last 18-months through not locking in a loss during the pandemic plunge by stocks.

14/04/2021 09:43

Invesco QQQ Trust (QQQ US) $US340.60

MM has been watching our long NASDAW position via the QQQ for the last month looking for an ideal area to lock in some profit, our target above $US340 has now been reached and it’s a matter of time before we take some profit.

14/04/2021 09:22

Overseas Markets & Indices

US tech has finally listened to MM and punched towards the 14,000 area following it’s sharp 12% correction from Februarys high as US bond yields accelerated higher.

13/04/2021 09:50

NASDAQ

Tech has led from the front as MM flagged a few weeks ago however most importantly at the time we also called the NASDAQ to correct after posting fresh all-time highs, the latter is now very close.

13/04/2021 09:48

Australian Dollar ($A) 76.30c

The $A has slipped ~5% from its February high in very similar manner to the likes of BHP Group (BHP).

12/04/2021 09:29

Volatility

Another week and another low in volatility as the market embraces a glass half full mentality.

12/04/2021 09:26

Silver ($US/oz) $25.22

Silver is also looking very constructive here and potentially poised for a ~20% rally, we might see a flight to more defensive assets as we move towards the traditionally weak period for equities going into May.

12/04/2021 09:21

Australian Dollar 76.23c

Not a lot of new news for the $A this week as it tracks back to the bottom of our targeted trading range which sits between 76c – 81c, hence by definition we are bullish short-term on the local currency which coincides with our bearish $US view.