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The last article was about leveraged daily ETFs - in other words, about momentum, short-term market movements and strategies where timing is crucial. Today it will be much quieter. It's about what remains when markets fluctuate and hypes fade: the fundamentals.

This article is aimed primarily at beginners and is intended to help them find their way through the ETF jungle - to understand which products are truly global, how they differ and how to build a stable core portfolio.

After all, long-term wealth accumulation does not start with the search for the highest return, but with a solid core. In my case, this core consists of three pillars:

• $ISAC (+0,65 %) (iShares MSCI ACWI UCITS ETF) - as a global equity building block
• $BTC (+0,38 %) (Bitcoin) - as a diversifying, asymmetric building block with its own risk profile
• $SEGA (-0,08 %) (iShares Core Euro Government Bond ETF) - as a defensive counterbalance on the bond side

These three positions form the backbone of my portfolio. The rest - i.e. rotation strategies, thematic investments or leveraged products - complement the foundation.

Why an ETF comparison is important

"World ETF" sounds like global diversification. In practice, however, many of these funds only cover industrialized countries. The difference between $XDWD (+0,91 %) (iShares MSCI World UCITS ETF), $ISAC (+0,65 %) (iShares MSCI ACWI UCITS ETF) and $VWCE (+0,6 %) (Vanguard FTSE All-World UCITS ETF) is not a marginal detail, but crucial for your own investment strategy.

Anyone who understands these differences quickly realizes how much the selection of the index determines the actual distribution in the portfolio - and how much "world" is actually in your own ETF.

The $ISAC (+0,65 %)
(iShares MSCI ACWI UCITS ETF)

The $ISAC (+0,65 %) tracks the MSCI All Country World Index - around 2,800 stocks from 47 countries, covering around 85% of global market capitalization.

Regional breakdown (as at October 2025):

• USA: approx. 65 %
• Europe: approx. 15 %
• Asia (incl. Japan & China): approx. 10%
• Emerging markets: approx. 10 %

This combines the $ISAC (+0,65 %) industrialized and emerging markets in one product - exactly what many investors replicate themselves with two ETFs (MSCI World + MSCI Emerging Markets).

The total expense ratio (TER) is currently 0.20% p.a. - extremely favorable for a global fund of this breadth.

I use it as a core building block because it combines global diversification with simplicity: one ETF, one decision, global participation.

$ISAC (+0,65 %)
vs. $XDWD (+0,91 %)
(iShares MSCI World)

The $XDWD (+0,91 %) (iShares MSCI World UCITS ETF) only tracks 23 industrialized countries - no emerging markets, no China, no India. It contains around 1,500 stocks and is heavily dominated by the USA.

The $ISAC (+0,65 %) (iShares MSCI ACWI UCITS ETF) expands this base to include 24 emerging markets and thus has around 2,800 stocks. This means:

• $XDWD (+0,91 %) is more focused, somewhat more stable, but limited to mature markets.
• $ISAC (+0,65 %) is broader, more future-oriented and contains more growth markets.

In recent years, the MSCI World has been slightly ahead because the emerging markets have underperformed. In the long term, these phases tend to even out - and this is precisely where the ACWI shows its strength: It automatically grows with the global economy, even if the regional focus changes.

$ISAC (+0,65 %)
vs. $VWCE (+0,6 %)
(Vanguard FTSE All-World)

The $VWCE (+0,6 %) (Vanguard FTSE All-World UCITS ETF) is the best-known alternative to the $ISAC (+0,65 %) . It also combines industrialized and emerging markets, but according to the FTSE index methodology and with around 4,000 shares - i.e. somewhat broader.

Both funds fulfill the same purpose: global coverage in a single product. The differences lie in the details - for example in the country classification (e.g. South Korea is listed as an industrialized country in FTSE, but as an emerging country in MSCI).

The performance is also almost identical. The TER of the $VWCE (+0,6 %) at 0.19% p.a. is even slightly lower than that of the $ISAC (+0,65 %) . Both funds therefore offer an almost equivalent opportunity to invest globally over the long term.

Concentration in the $ISAC (+0,65 %)

Despite its breadth, the ACWI is also concentrated on a few heavyweights. The top 5 positions account for around 18% of the fund (as at October 2025):

• $NVDA (+1,31 %) (NVIDIA)
• $AAPL (+2,46 %) (Apple)
• $MSFT (+1 %) (Microsoft)
• $GOOG (+1,36 %) & $GOOGL (+1,26 %) (Alphabet)
• $AMZN (-0,07 %) (Amazon)

This shows how strongly the US technology sector shapes the global markets. This weighting is not a disadvantage, but a true reflection of global market capitalization. I consciously accept this structure, but balance it out with my other core components: $BTC (+0,38 %) (Bitcoin) as an uncorrelated asset and $SEGA (-0,08 %) (iShares Core Euro Government Bond ETF) as an anchor of stability.

Five-year performance (as at October 2025)

• $XDWD (+0,91 %) (MSCI World): + 90 %
• $ISAC (+0,65 %) (MSCI ACWI): + 84 %
• $VWCE (+0,6 %) (FTSE All-World): + 83 %

The differences are manageable. The MSCI World benefited more from the dominance of the USA, while $ISAC (+0,65 %) and $VWCE (+0,6 %) are more broadly based. This global diversification can lead to more stable returns in the long term because it is less dependent on individual markets.

What newcomers can take away from this

In my opinion, an ETF is often sufficient. A global fund like the $ISAC (+0,65 %) covers almost all markets - ideal for getting started.

Keep an eye on costs. A TER of 0.20 % is very favorable for this breadth.

Global means USA-dominated. Around two thirds of the fund comes from the United States - and that is currently the market reality.

Simplicity is an advantage. Those who manage fewer products remain more consistent in the long term.

Time beats actionism. The compound interest effect unfolds its power over years - not months.

The $ISAC (+0,65 %) (iShares MSCI ACWI UCITS ETF) is the centerpiece of my portfolio. It stands for breadth, simplicity and global participation - and realistically reflects the global economy.

Together with the $BTC (+0,38 %) (Bitcoin) - which not only brings potential returns but also diversification to the portfolio - and the $SEGA (-0,08 %) (iShares Core Euro Government Bond ETF) as a defensive counterpart, a robust core setup is created that covers all dimensions: Growth, stability and risk diversification.

The rest - thematic or individual investments, rotation strategies or leveraged ideas - completes the foundation.

Questions at the end:

• How do you structure your core?
• Do you use an all-in-one ETF like the $ISAC (+0,65 %) or do you prefer to combine your own with $XDWD (+0,91 %) and emerging markets?
• And what role does $BTC (+0,38 %) diversification, return or both play for you?

Infineon $IFX (-0,34 %) is the global market leader in power semiconductors, i.e. the chips that are essential for powering data factories. Business is going better than ever before - but this is probably just the beginning. "The demand for power semiconductors for AI data centers is increasing massively," Infineon top manager Richard Kuncic told Handelsblatt.

The high investments are a blessing for Infineon in two respects.

Firstly, the company is benefiting from the sheer number of new server farms. In recent weeks, OpenAI has signed contracts worth billions with Oracle, Nvidia and AMD. "There is huge demand," said founder Sam Altman last week, but "we are so constrained by computing power."

Other companies are also investing unprecedented sums in data centers. Analysts at Jefferies speak of more than 300 major projects in the United States alone. The four largest hyperscalers, i.e. providers of computing power, would spend 90 billion dollars on new facilities every quarter.

Secondly, more and more power semiconductors are required to supply computers with energy. According to Kuncic, a server cabinet today contains such chips worth between 12,000 and 14,000 euros. This covers the energy requirements of 128 graphics processors, so-called GPUs. GPUs are supplied by companies such as NVIDIA $NVDA (+1,31 %) and AMD $AMD (+0,35 %) They are the core of AI computers.

According to Kuncic, engineers will accommodate 576 GPUs in the next generation of server racks. This will increase the value of the power semiconductors to more than 100,000 euros.

But that's not all. Kuncic: "More and more fields of application are emerging for AI. This is also increasing the demand for power semiconductors." Until now, companies such as OpenAI have mainly used the computers to train AI models at great expense. In the future, however, AI will be used much more frequently.

Europe's largest semiconductor manufacturer promised its investors sales of AI power semiconductors of 600 million euros for the past financial year, which ended on September 30. At the beginning of August, CEO Jochen Hanebeck said that this figure is set to rise to one billion euros in the new financial year.

It is possible that the CEO will increase this forecast in mid-November when he presents the latest results and ventures an outlook for the new financial year.

Infineon supplies the entire value chain with its power semiconductors, from the producers of transformers to computer manufacturers such as $DELL (-0,46 %) Dell , $DELTA (+0 %) Delta and $HPE (+2,77 %) HP, to operators such as $AMZN (-0,07 %) Amazon and $GOOGL (+1,26 %) Google.

Together with Nvidia, the world's most valuable corporation, the Munich-based company is developing the next generation of power supply systems for AI data centers. The company made the announcement this spring.

With a market share of just under 18 percent, Infineon is the world's top-selling supplier of power semiconductors. The number two, US competitor Onsemi $ON (+0,15 %)has around nine percent. Infineon is far ahead of its competitors in terms of technology and production, according to Deutsche Bank analyst Johannes Schaller last week.

Source text (excerpt) & graphic: Handelsblatt, 15.10.25

Some suspect that Friday was just a Trump dip, others believe it was the start of the next bear market.

What are the B&H investors actually doing here on Getquin when $NVDA (+1,31 %),$META (+1,13 %), $GOOGL (+1,26 %), $BTC (+0,38 %) and Co. drop >30% over the year?

"Oh, I'll sit it out, what do I care about an annual performance of -30%? - Buy more cheaply!!!" or are you looking away from buy & hold and deviating from your strategy?

Picture: Business Insider

$ISRG (+3,58 %)
$PATH (-2,67 %)
$RR

Here is an exciting overview, for me the most attractive in terms of growth/potential of the stocks I know $RR
$PATH (-2,67 %) also $ISRG (+3,58 %) I would perhaps add to the portfolio again in the event of a correction. However, there are some stocks I don't know either.

What do you think are the most exciting stocks on the list, where should we perhaps take a closer look?

$AMZN (-0,07 %)
$MSFT (+1 %)
$NVDA (+1,31 %)
$AMD (+0,35 %)
$GOOGL (+1,26 %)
$GOOG (+1,36 %)
$RIO (-0,31 %)
$ALB (-2,53 %)
$INTC (+1,02 %)
$PLTR (+0,56 %)
$IRBT (-5,07 %)
$SYK (+1,72 %)
$MDT (+0,54 %)
$LMT (-0,24 %)
$DPRO (-2,69 %)

After the rally of$GOOGL (+1,26 %)

I sold 20% of the position to lock in profits.

I used the setback in $7974 (+4,95 %) Nintendo to enter the market and start to slowly diversify.

Focus remains on quality + balance between tech growth and stable cash flows.

good morning 👋🏼 i hope you slept well and your portfolio doesn't keep you up too late at night (haha)

As I'm still relatively new to the game, I can unfortunately only contribute small things to the community as far as stock information etc. is concerned. My current knowledge/experience doesn't allow for more at the moment. 📝

Accordingly, I'm more of a beneficiary of your knowledge and the associated posts about the market and constantly have questions. ⁉️

My portfolio has done (relatively) well over the last few months and now I'd actually like to take advantage of this year's tax-free allowance. One idea would be to invest parts of $GOOGL (+1,26 %) or $NVDA (+1,31 %) as I have made the biggest profits here and would actually like to realize some of them. 👀

What do you think? Thank you for your time and all the great information you so diligently post here!

Already available in the depot:

$GOOGL (+1,26 %)

$RKLB (-0,44 %)

$HIMS (-13,62 %)

$NBIS (-7,82 %)

$IREN (-2,42 %)

$MU (+0,23 %)

$SOFI (+0,14 %)

$INTC (+1,02 %)

Are there any of these that you would still add to now or just hold?

Unfortunately, I sold too early:

$PLTR (+0,56 %)

On my watchlist:

$CEG (-2,42 %)

$HOOD (-0,25 %)

$AMD (+0,35 %)

$CRWD (+1,19 %)

$APP (-0,39 %)

$UBER (+0,06 %)

Hi there!

On the occasion of my milestone, I would like to introduce you to my depot. I would be delighted to receive your feedback :)

First of all about me: 👦

I am 23 years old and currently a law student in my 7th semester. I'm currently in the middle of preparing for my exams (annoying).

I started investing at the beginning of 2022 when I was playing poker with two friends and talking about the potential of shares etc. After briefly reading up (especially here 🤓), I was hooked. 🔥

I have my grandma and my parents to thank for the large sum (approx. 30k). I really appreciate this privilege and am grateful for it every day 🌞

Now to my securities account: 💰

Initially, I was only interested in dividend stocks. An ETF was already to be held as the core. At that time, the proportion was still supposed to be 30%. Now I'm aiming for 50%.🌏

Over the years, the dividend stocks were joined by $NVDA (+1,31 %) or $GOOGL (+1,26 %) high-growth stocks have also been added to the portfolio. 📈

I have always been fascinated by gold, which is why I have further diversified my portfolio in this area🥇

I also started small projects to motivate myself:

For about a year now, just under 3k at scalable has been used for swing trading. I mainly take advantage of medium-term price fluctuations in large companies. The profits are paid out immediately and spent on nice moments, such as eating out with my girlfriend.

In my opinion, this is a perfect balance to the long-term investment strategy. Last year, we achieved a time-weighted return of just under 33%, which I absolutely did not expect. 🔥

In addition, there is a so-called "punctuality guarantee" for local and long-distance transport in my area - there is a flat rate of €5 for every 20 minutes of delay. I invest this in the $VHYL (+1,04 %) and see what happens. In the meantime, after about 2 years, I've saved up almost €250🚈

I haven't had any real income since this month, apart from (grand)parental support for university/rep and my apartment. Before that, I worked as a lifeguard at a swimming pool at the weekend. I also work "voluntarily" as a swimming coach for children aged 4-6. That pays me around €200 a month.

I will therefore have to reduce my daily allowance slightly, but this is the best investment for me. This simply gives me a lot more time to catch up on my work and write exams.

Thank you very much for your attention ♥️