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Johannes
@Johannes_J
9Mo·

As the new ex-USA ETF can now also be traded via Lang & Schwarz, I changed my savings plans today. I will now gradually reallocate the FTSE AW and S&P 500 in order to achieve the desired distribution.

Instead of 100% FTSE AW I am now saving:


63% MSCI USA $SC0H (+0,64 %)

27% MSCI World ex USA $EXUS (-0,12 %)

10% MSCI EM $XMME (+0,2 %)


This now roughly corresponds to the distribution of the FTSE AW. In the long term, however, I will swap the MSCI USA for a 2x leveraged one in favorable situations.

If anyone knows of a better alternative for one of the ETFs mentioned above, please post in the comments :)

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Johannes
@Johannes_J
10Mo·

MSCI World ex USA ETF $n/a (-0,12 %)

A few days ago, Xtrackers launched an ETF that tracks the MSCI World ex USA Index with a TER of just 0.15%.

In my opinion, this ETF could be of interest to many people, as it makes it relatively easy to better manage the US portion of the portfolio. A combination of MSCI USA and this ETF could then replace a pure World ETF.

Another option would be to use this ETF in combination with the MSCI USA, replacing it with the 2x MSCI USA ETF at favorable times in order to benefit from a longer bull market.


Unfortunately, this ETF is not yet tradable at gettex/LS, but should probably be listed there in the next few days/weeks.

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6 Commentaires
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Kevin E.@KevinE
9Mo
Do you expect to outperform as a result? Ultimately, it is a form of market timing. How do you know that you are switching to the leveraged ETF?
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Johannes@Johannes_J
9Mo
@KevinC As I'm still young and the amounts aren't really decisive yet, I'm consciously taking the risk. Overall, I'm going to try out a strategy from a paper at the beginning, but I can't find the paper right now.
Overall, I want to be able to control the US share better with this change, so that I can also reduce/increase the US share relatively quickly in the future or also to control the ratio between small caps and large caps within the US market.
It also has a withholding tax advantage, as the MSCI USA, unlike the FTSE AW, does not have to pay US withholding tax at fund level, which, in addition to the lower TER (weighted 0.09% in total), also has an advantage there
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Kevin E.@KevinE
9Mo
@Johannes_J However, you also pay tax on your profits every time you shift...
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Johannes@Johannes_J
9Mo
@KevinC Jo, as I said, the sums are not yet that large, so I can currently still cover this with a non-assessment certificate and exemption order. However, if I decide later that it's not worth it, I still have the TER + withholding tax advantage, as I said.
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Kevin E.@KevinE
9Mo
@Johannes_J but also the time involved. An All World ETF (Invesco) TER of 0.15% p.a.
Let's assume you get 0.05% p.a., i.e. you save 0.1% p.a.

But you have to rebalance. You can certainly do this at the beginning by changing the amount of the savings plans. After 10 years, you will have 5 or 6-digit ETFs and will have to rebalance if you want to continue to track the All World. Then there's the time involved.
With a portfolio size of €10,000, you save €10. For €100,000, a whole €100 per year.
In principle, you don't have to pay any attention to the All World. With €100,000, around 5 hours of work per year, in which you work longer hours (depending on your hourly wage), is enough to make it more sensible than investing the time in your custody account.
With a portfolio of €1 million, we get to the point where working more on the job instead of putting more time into your portfolio is no longer worthwhile. Don't forget opportunity costs. Sure, it might be a bit more fun to optimize your portfolio, but you should always bear that in mind. I often see this with portfolios under €100k in particular: the last euro is optimized, which takes a lot of time. Instead, you could earn €200-500/month more in the same time. This is much more effective than saving €20 TER somewhere.
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Johannes@Johannes_J
9Mo
@KevinC What you say is also 100% correct. For most people, 100% FTSE AW or a similar ETF is clearly the better choice. But since the whole thing is also a hobby for me and a single ETF would simply be too boring for me, I like to do it this way, even if the additional effort is definitely not worth the money that might be saved.
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