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Global Macro ETF Portfolio

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

About the Global Macro ETF Portfolio

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
Portfolio 1 M 3 M 6 M 1 Y 3 Y pa Inception pa*
Global Macro ETF -0.37% -0.02% -121% 5.60% - 8.94%
Target 10% 0.83% 2.50% 5.00% 10.00% - 10.00%
Difference -1.20% -2.52% -6.21% -4.40% - -1.06%
* Inception date 03/07/2019
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
ACDC ETFS Battery Tech & Lithium ETF 5 High Medium 06/10/2021 89.5 98.2 9.72
ASIA BetaShares Asia Technology Tigers ETF 10 High Medium 16/07/2021 10.92 9.47 -13.28
AUDS BetaShares Strong Australian D 10 High Medium 03/07/2019 11.76 8.78 1.65 -11.31
DBA US Invesco DB Agriculture Fund (USD) (USD) 10 Moderate Medium 25/02/2020 16.74 19.96 19.24
FUEL BetaShares Global Energy Companies ETF 10 Moderate Medium 08/09/2021 4.23 5.22 0.1 25.77
IEM iShares MSCI Emerging Markets 10 Moderate Short 25/10/2019 63.23 69.03 2.73 13.49
MNRS Betashares Global Gold Miners 10 Moderate Medium 05/05/2021 6.55 5.66 0.24 -9.92
U-U CN Sprott Physical Uranium Trust (U-U CN) (CAD) 10 High Medium 25/11/2021 14.94 14.59 -2.34
ULE US ProShares Ultra Euro ETF(USD) 10 High Medium 13/09/2021 14.48 13.15 -9.19
VGK US Vanguard FTSE Europe ETF (USD) 10 Moderate Medium 11/11/2020 58.05 67.31 1.55 18.62
Portfolio cash position: 5%
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
TBF US Proshares Short 20+ Year Treasury ETF (USD) 10 Moderate Medium 12/01/2021 16.34 16.51 1.04
VXX US iPath Series B S&P 500 VIX Sho (USD) 10 Moderate Short 8/09/2021 40.61 26.04 -35.88
ETPMAG ETFS Metal Securities Australi 10 Moderate Medium 8/09/2021 32.13 31 -3.52
BBUS BetaShares US Equities Strong 10 High Medium 8/09/2021 11.1 9.45 -14.86
ATEC BetaShares S&P/ASX Australian 10 Moderate Medium 8/09/2021 22.1 25 0.67 16.15
QQQ US Invesco QQQ Trust Series 1 (USD) 10 Moderate Medium 05/05/2021 270 330.14 0.56 23.26
BNKS BetaShares Global Banks ETF - 10 Moderate Medium 7/04/2021 6.65 6.64 0.07 0.9
FUEL Betashares Global Energy Compa 10 High Medium 44293 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
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Opinions for positions held in the Global Macro ETF Portfolio

Our 3 stock picks if bond yields do reverse lower

The last few months have been all about inflation and bond yields as far as equities are concerned with the awful Omicron strain hardly warranting a mention. Overnight we saw US 10-year bonds start to venture towards the psychological 2% level before reversing lower, time for a rest at the very least in our opinion.

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Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio was higher by 0.88% over the course of the week, with cash remaining at 5%. The rally in global energy shares helped the FUEL ETF rally by 6.1% making it the top performer in the portfolio.

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US 10-year Bond Yield

US bond yields broke strongly to the upside overnight taking the lead from crude oil, we are not calling time out yet but from a risk / reward perspective we still expect to see the US 10-years back at 1.5% before they can surge above 2%, this ultimately should see some buying return to tech stocks.

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Brent Crude Oil ($US/barrel)

As mentioned earlier when we looked at WPL, Brent Crude literally nudged fresh 7-year highs overnight, we remain committed to our target area around $US100/barrel a move which we believe will catch many investors underweight the unloved Energy Sector as funds have aggressively moved to  greener & sustainable mandates.

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US 2-year Bond yields

US 2-year bond yields continue to climb back towards their pre-COVID levels although considering inflation is surging its arguably surprising to see them sub 1%. Our view is bond yields are now factoring an optimistic path for the global economic recovery and we believe these shorter dated yields will struggle to move significantly higher through 2022.

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BetaShares Global Energy Companies ETF (FUEL) $5.08

MM holds the FUEL ETF in our Global Macro ETF Portfolio, the position is tracking nicely fortunately following the US more closely than our own sector. We can see another 10% upside if / when crude oil pops to fresh multi-year highs.

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Don’t underestimate the Energy Sector

Following on from our look at the Australian banks on Tuesday and the overnight surge by commodities this morning we’ve moved onto arguably one of our favourite sectors for early 2022 – the Energy Sector. Its nothing new that we like these names into 2022 but as we start a new year it’s important that subscribers are across our thinking...

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Australian Dollar ($A)

The $US fell overnight even as the US CPI data sent shorter dated bond yields higher suggesting 4-5 rate hikes are already priced into the greenback hence making surprises far more likely on the downside. The drop in the $US catapulted resources higher with copper surging over 3% to multi-week highs – it feels like our anticipated “pop” higher...

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ProShares Short 20+ year US Treasury ETF (TBF US) $US16.56

Frustratingly our call of higher bond yields / inflation for the last 4-months only really delivered at the short end of the curve i.e. 2 & 5-year yields. Our position looking for higher yields in longer dated yields has failed to get excited and we would rather scratch this position than watch a small profit become a loss – if  we are correct with our 2022 outlook in terms of rates likely to pause,  the reason for this position has now gone.

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Actions for positions held in the Global Macro ETF Portfolio

TBF US
UPDATED 20/01/2022 17:22
MM believes US 10-year yields will falter at current levels
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TBF US
UPDATED 19/01/2022 17:53
MM remains mildly bearish US bond yields as they approach 2%
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FUEL
UPDATED 18/01/2022 17:14
MM remains bullish crude oil into 2022
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TBF US
UPDATED 14/01/2022 16:50
MM is neutral US 2-years around 1%
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FUEL
UPDATED 14/01/2022 09:08
MM is bullish and long the FUEL ETF
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FUEL
UPDATED 14/01/2022 09:08
MM remains bullish crude oil
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AUDS
UPDATED 14/01/2022 09:08
MM is bullish the $A initially targeting the 75-76c area
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U-U CN
UPDATED 13/01/2022 09:38
MM are adding to U-U CN in the Marco ETF Portfolio, allocating another 5% around $CAD14.87
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TBF US
UPDATED 13/01/2022 09:38
MM are selling TBF US in the Macro ETF Portfolio taking a small profit around $US16.56
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TBF US
UPDATED 12/01/2022 17:29
MM remains mildly bearish US bond yields as they approach 2%
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