$TDIV (-0.37%)

A solid gain… especially since those boring dividend stocks are struggling today. 👛

​Today I made a small—but significant—adjustment to my portfolio and sold off my entire ETF holding $PSRW (+0.62%)—the Invesco RAFI All World Value—in its entirety. I’ve invested the proceeds, on a nearly one-to-one basis, directly into the JPMorgan Global Equity Multi-Factor UCITS ETF, or $JPGL (+0.79%). I’m not a big fan of pure market-capitalization-weighted passive ETFs anyway, where you blindly end up overweight in the biggest tech giants. Instead, I prefer a rules-based approach and take great care to avoid introducing unhealthy concentration risks into my portfolio.

​Since I’m 58 years old and plan to retire from active work in a few years, the issue of risk mitigation is naturally my top priority right now. Maximizing performance at any cost is no longer a goal for me; instead, stability and protecting what I’ve achieved are my top priorities.

​In recent months, I’ve already significantly rebalanced my individual stock portfolio, noticeably reducing my tech exposure while simultaneously focusing more on solid value stocks and strong compounders. Since my previous ETF component $PSRW (+0.62%) was a pure deep-value index, and since my VanEck dividend ETF $TDIV (-0.37%) —which is already my largest position—is already heavily weighted in that direction, that would simply have been too much of a good thing. I would have ended up with a hefty double exposure to value stocks in my portfolio.

​The JPGL is much better positioned in this regard. For those who aren’t yet familiar with the ETF: The JPMorgan Global Equity Multi-Factor strategically combines three proven factors—attractive valuation (value), high balance sheet quality (quality), and price momentum (momentum)—with a well-thought-out risk weighting. Added to this is a weighting model that appears to be heavily based on an equal-weighted approach, which prevents individual stocks from dominating the portfolio. The entire structure is strictly rule-based, and rebalancing—or rather, the strategy for the next three months—is determined on a quarterly basis. In this way, the ETF is continuously adapted to the current market environment. It thus systematically mitigates the typical weaknesses of pure market-cap indices and, in my opinion, is an excellent alternative to the classic global ETFs from iShares, Vanguard, or Amundi.

Incidentally, just how well this defensive approach works during difficult market phases was evident in the crisis year of 2022: While the broad MSCI World Index took a significant hit, falling nearly 18%, the $JPGL (+0.79%) held up extremely well thanks to its multi-factor approach, limiting the loss to less than -5%. It is precisely this relative strength and effective risk mitigation in bear markets that fit perfectly with my current stage of life.

​I am, of course, aware that the $JPGL (+0.79%) currently has a relatively modest fund and trading volume compared to the giant standard ETFs. However, that doesn’t cause me any concern: JPMorgan has been pushing into the European market with its ETF division for quite some time, investing significant resources and demonstrating tremendous ambition, and is massively expanding its presence there. I firmly believe that the fund’s volume will increase significantly in the future as interest in smart-beta strategies grows.

​As far as returns are concerned, I would actually have preferred the distribution-paying version $JGLP (+0.83%) , which currently yields about two percent. But since that one isn’t tradable through my broker at the moment, I’ve opted for the accumulation fund for now, to keep the money directly in the market. As soon as the distribution fund becomes available, though, I’ll switch over without any trouble. And since the old $PSRW (+0.62%) also covered emerging markets, I’m easily covering that portion by topping up my existing iShares Emerging Markets Value ETF $5MVL (+2.55%) . This keeps everything wonderfully organized, logical, and exactly as I envision it for my long-term setup.

$TDIV (-0.37%)
$WQDS (+0.23%)
$JPGL (+0.79%)
$5MVL (+2.55%)

$PSRW (+0.62%)

* Formulated with the help of Gemini

$HAG (-3.46%) I sold them today because the stock was moving too sideways. Admittedly, I bought them at a very high price, but the dividend isn't enough for me to keep waiting for growth here.

Most of the money went into $WINC (+1.12%) , $TDIV (-0.37%) and $LDGL (+0.36%) as well as into additional purchases of $SU (+1.05%) and $NBIS (+7.72%) . With the latter, I got lucky—I sold just in time before the price started rising today.

Some of it remained as cash

Reached a €90,000 portfolio today!😀

My goal for this year was €85,000, and now, in October, I've reached €90,000! Great milestone—the next one is €100,000💰💸

$VWRL (+1.42%)
$TDIV (-0.37%)
$ASRNL (-1.03%)
$NN (-1.24%)
$HSBK
$BTC (-0.19%)
$WHA (+0.06%)

$TDIV (-0.37%)

Hi everyone,

I'd like to hear your thoughts. This is about my investment portfolio.

$VWRL (+1.42%) : approx. €273,000 (+45%)

$TDIV (-0.37%) : approx. €117,000 (+20%)

$ALV (-2.56%) : approx. €29,000 (+65%)

$BTC (-0.19%) approx. 42k (+10%)

The situation: Over the next one to two years, I’d like to buy a property abroad for €300,000 to €350,000

using only my own funds. This means I’ll have to withdraw a large portion of my portfolio.

My dilemma: If I sell now, I might miss out on further price gains. If I stay invested and there’s a major market correction, the purchase could fall through in the worst-case scenario. I’ll have to pay taxes either way, so it’s really a question of timing.

I’m currently weighing these options:

1. Sell everything I need for the purchase now and park the funds in a money market account or money market ETF

2. Secure only a core holding ($ALV and $TDIV) and let the $VWRL run

3. Sell in stages, for example in three tranches by summer 2027

4. Stay invested with a fixed rule: sell at −15% or as soon as a specific property becomes available

5. Hedge using puts

Of course, I’d love to have the best of both worlds: a secure purchase without giving up too much return. I realize that doesn’t exist. I’m looking for the best compromise.

My questions for you:

• Who has faced the same decision, and how did you handle it?

• Would you do it the same way again today?

• Is there an option I’m overlooking?

Thank you all!