Overall, it can be said that managed funds underperform index ETFs after fees over longer periods, although there are always exceptions. One of these exceptions is the $DE0008491051 (+0,06%) UniGlobal. The secret behind it? The fund works with a slight leverage, which results in outperformance. However, the fund's allocation is almost the same as the MSCI World, which is why you should ask yourself whether you can replicate the UniGlobal with lower fees.
That's exactly what I thought and built the following with the help of 3 ETFs:
- 25% $CL2 (-0,16%) (2x MSCI USA)
- 36,5% $SC0H (-0,04%) (MSCI USA)
- 38,5% $EXUS (+0,23%) (MSCI ex USA)
This allocation allows you to invest in the MSCI World with a leverage of 1.25x, with a weighted TER of approx. 0.18%. An emerging markets ETF could also be used to replicate the MSCI ACWI.
I have been using the strategy for a few months now for my ETF share, and the performance is also almost 1.25x the MSCI World performance. However, the disadvantages of the strategy are that you have to rebalance more often, as the MSCI USA share quickly becomes too large/too small due to the leverage, and the desired ratio cannot usually be achieved by new investments alone.
Overall, however, I am satisfied and now handle it in such a way that I leave the leverage between 1.2 and 1.4 and only intervene by selling when these limits are exceeded/fallen short of and otherwise only strengthen the underweighted region through savings plans. In general, however, I would like to see an ETF provider decide to launch a 1.25% MSCI World as a separate ETF product so that I can save myself the trouble of rebalancing.
