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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
Portfolio1 M3 M6 M1 Y3 Y paInception pa*
Global Macro ETF0.68%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 trade now
COMPANY CODESTOCK NAMEWEIGHT (%)RISKTIME HORIZONENTRY DATEENTRY PRICE ($)LAST PRICE ($)DIVIDENDS ($)GAIN / LOSS (%)
ATECBetaShares S&P/ASX Australian10ModerateMedium9/06/202122.122.943.8
AUDSBetaShares Strong Australian D10HighMedium03/07/201911.7611.351.166.38
BBUSBetaShares US Equities Strong5HighMedium29/04/20211.161.11-4.74
DBA USInvesco DB Agriculture Fund (USD)10ModerateMedium25/02/202016.7418.5210.63
ETPMAGETFS Metal Securities Australi10ModerateMedium12/08/202032.1333.755.04
IEMiShares MSCI Emerging Markets10ModerateShort25/10/201963.2372.012.2417.43
MNRSBetashares Global Gold Miners10ModerateMedium05/05/20216.556.824.12
VGK USVanguard FTSE Europe ETF (USD)10ModerateMedium11/11/202058.0570.360.3821.86
VXX USiPath Series B S&P 500 VIX Sho (USD)10ModerateShort8/04/202140.6131.79-21.72
Portfolio cash position: 15%
Recent Sales trade now
Company codeSTOCK NAMEWEIGHT(%)RISKTIME HORIZONENTRY DATEENTRY PRICE ($)CLOSE PRICE ($)DIVIDENDS ($)GAIN / LOSS (%)
QQQ USInvesco QQQ Trust Series 1 (USD)10ModerateMedium22/09/2020270330.140.5623.26
BNKSBetaShares Global Banks ETF -10ModerateMedium25/10/20196.656.640.070.9
FUELBetashares Global Energy Compa10HighMedium22/04/20203.254.250.1334.77
COPX USGlobal X Copper Miners ETF (USD)10ModerateShort10/03/202117.7336.390.45107.78
TBF USProShares Short 20+ Year Treas (USD)10ModerateMedium10/03/202117.5617.650.040.74
SVXY USProShares Short VIX Short Term10HighShort3/12/202030.1941.1636.34
SLVP USiShares MSCI Global Silver Miners5ModerateMedium28/05/202011.3512.010.197.49
QQQ US Invesco QQQ Trust Series 15ModerateMedium22/05/2020204.89228.8711.70
GDXVaneck Vectors Gold Miners7.5ModerateMedium25/02/202035.8446.720.2331.00
SH USProShares Short S&P5008HighMedium25/02/202026.4423.990.2-8.51
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Opinions for positions held in the Global Macro ETF Portfolio

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.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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Actions for positions held in the Global Macro ETF Portfolio

AUDS
UPDATED 17/06/2021 09:06
MM is becoming increasingly nervous that the $A will fail to break back above 80c
Add To Hit List
VXX US
UPDATED 16/06/2021 06:22
MM remains bullish volatility from current levels
Add To Hit List
VXX US
UPDATED 10/06/2021 10:32
MM remains bullish volatility at current levels, especially from a risk / reward perspective
Add To Hit List
VXX US
UPDATED 07/06/2021 16:50
MM remains bullish volatility from current levels
Add To Hit List
AUDS
UPDATED 07/06/2021 16:48
MM is losing confidence in the $A’s ability to retest / break 80c
Add To Hit List
AUDS
UPDATED 31/05/2021 16:27
MM is rapidly losing confidence in the $A’s advance
Add To Hit List
ETPMAG
UPDATED 31/05/2021 16:25
MM is bullish precious metals medium-term
Add To Hit List
AUDS
UPDATED 26/05/2021 16:48
MM is looking to take profit on our $A position
Add To Hit List
VXX US
UPDATED 26/05/2021 09:57
MM remains bullish volatility at current levels, especially from a risk / reward perspective
Add To Hit List
VXX US
UPDATED 24/05/2021 17:04
MM remains bullish the VIX from sub 20
Add To Hit List
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