Global Macro ETF Portfolio

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

24.21% 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 01/06/2021 09:00
Portfolio	1 M	3 M	6 M	1 Y	3 Y pa	Inception pa*
Global Macro ETF	0.68%	2.50%	12.90%	24.12%	-	15.67%
Target 10%	0.83%	2.50%	5.00%	10.00%	-	10.00%
Difference	-0.15%	+0.00%	+7.90%	+14.12%	-	+5.67%

* Inception date 03/07/2019

**Portfolio Holdings** UPDATED 16/06/2021 17:00 trade now
COMPANY CODE	STOCK NAME	WEIGHT (%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
ATEC	BetaShares S&P/ASX Australian	10	Moderate	Medium	9/06/2021	22.1	22.94		3.8
AUDS	BetaShares Strong Australian D	10	High	Medium	03/07/2019	11.76	11.35	1.16	6.38
BBUS	BetaShares US Equities Strong	5	High	Medium	29/04/2021	1.16	1.11		-4.74
DBA US	Invesco DB Agriculture Fund (USD)	10	Moderate	Medium	25/02/2020	16.74	18.52		10.63
ETPMAG	ETFS Metal Securities Australi	10	Moderate	Medium	12/08/2020	32.13	33.75		5.04
IEM	iShares MSCI Emerging Markets	10	Moderate	Short	25/10/2019	63.23	72.01	2.24	17.43
MNRS	Betashares Global Gold Miners	10	Moderate	Medium	05/05/2021	6.55	6.82		4.12
VGK US	Vanguard FTSE Europe ETF (USD)	10	Moderate	Medium	11/11/2020	58.05	70.36	0.38	21.86
VXX US	iPath Series B S&P 500 VIX Sho (USD)	10	Moderate	Short	8/04/2021	40.61	31.79		-21.72

Portfolio cash position: 15%

**Recent Sales** UPDATED 06/05/2021 09:00 trade now
Company code	STOCK NAME	WEIGHT(%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
QQQ US	Invesco QQQ Trust Series 1 (USD)	10	Moderate	Medium	22/09/2020	270	330.14	0.56	23.26
BNKS	BetaShares Global Banks ETF -	10	Moderate	Medium	25/10/2019	6.65	6.64	0.07	0.9
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

16/06/2021 09:32

The Australian Dollar ($A)

The Australian Dollar ($A) suffered at the hands of the RBA Minutes yesterday and with the likes of copper struggling and the $US at the very least looking for a low another assault on 80c feels 50-50 at best but the heavyweight Euro still implies it has a chance hence we are staying long in our Global Macro ETF Portfolio, at least for now.

15/06/2021 09:49

Sentiment indicators

Equity markets remain very comfortable which makes sense as they maintain their advance to fresh all-time highs but since the outbreak of COVID back in 2020 we’ve witnessed a “pop” in volatility on average every 3-months hence we’re bullish into the current complacency / weakness, especially from a risk / reward perspective.

10/06/2021 09:52

Market sentiment

The VIX indicator is probably the most recognised measure of investor sentiment and it understandably continues to look comfortable & confident as equities rotate around their all-time highs.

07/06/2021 09:21

Aussie Dollar

The Australian Dollar continues to lose momentum on the upside which coincides with our feeling that many commodities are in need of a rest.

07/06/2021 09:16

Sentiment indicators

Equity markets remain very comfortable as they maintain their advance to fresh all-time highs however we still believe the risk / reward for volatility remains on the upside

31/05/2021 09:38

Silver ($US/oz)

Precious metals have rallied steadily from their early April low with silver edging up towards its 2021 high. The short-term direction of the complex is likely to be determined by the $US but we remain bullish medium-term believing a break to fresh highs is a matter of time.

31/05/2021 09:35

The Australian Dollar ($A)

The Australian Dollar continues to lose momentum on the upside which coincides with our feeling that many commodities are becoming overheated.

26/05/2021 10:03

BetaShares Strong AUD ETF (AUDS) $11.51

The Australian dollar is struggling to embrace the weakness in the $US, as the saying goes “if in doubt get out”.

26/05/2021 09:50

Market sentiment

The market sentiment indicators are providing us with little solace as contradiction abounds around every corner e.g. the Put / Call ratio is back around 20-year lows but the VIX continues to fail every time it pokes its head out into the sunlight above the psychological 20 area.

24/05/2021 09:22

Volatility

The VIX index remains extremely low considering the gyrations stocks have experienced over the last few weeks plus of course it is May! However at this stage it’s clearly holding on tightly to the elastic band which snaps it back towards the 20 region whenever equities stabilise.