With VIAC you can select from a (limited) portfolio of ETFs if you decide to go with your own “custom” strategy, you don’t have to pick one of their pre-created plans, if you don’t want to.
And I think the VIAC selection of ETFs is limited, yet enough for anyone wanting to replicate a simple 3-fund portfolio + a bit of switzerland. If you want to overcomplicate things it’s not probably the best place.
The web version is now live.
It looks really good, I prefer it to the app. Everything is accessible quicker.
Since I have 5 custom portfolios I alsway wonder how they are performing compared to say their preset global portfolio. I know I could calculate it myself but a benchmark would be nice
VIAC have added two new funds to their list:
The latter seems to be a non exchange-traded fund.
All CS funds at VIAC are funds not ETFs
Thank you for the information and the links you provided.
Having a high dividend fund in a (temporary) tax sheltered 3a account sounds nice. Please be aware of the fine print:
Edit: Perhaps funds within the social security system are not subject to US withholding tax?
At this point, all Credit Suisse funds in VIAC containing US stocks are not tax efficient as they are based in CH. That’s why they offered an Ishares version for the S&P500 based in IE, which is included by default in the global 100 strategy
Up until now I have been using almost only the CSIF funds eg. World exCH etc.
In this case, any idea which funds would be optimal to replicate a “world portfolio”?
How bad is this tax inefficiency and how can I calculate it?
I have come up with the following portfolio. It’s similar to VIACs own Global100 portfolio, but with the bulk of swiss equity being SPI Extra instead of SMI
So it seems like the Europe, EM and Pacific are still not tax efficent with this portfolio
From a pure tax efficiency standpoint, disregarding opinions on SRI investing would the following make sense:
Europe > use “UBS ETF MSCI EMU SRI” (LU0629460675)
Pacific > use "UBS ETF MSCI Pacific SRI LU0629460832
EM > use “UBS ETF MSCI Emerging Markets SRI” (LU1048313891)
such a portflio would cost ~0.15% more in fees.
Is this worth it?
Only CSIF funds holding US stocks are not tax efficient.
It can be calculated.
Let’s take, a Swissfund tracking the S&P500 and and IE fund tracking the S&P500.
If the dividend yield is 2%, the IE fund will be taxed at 15% on dividends (15%*2%=0.3 %) and the Swissdfund taxed at 30% on dividends (15%*2%=0.6 %). The difference is 0.3% (30 bps).
WIthout taking any other cost, the swiss fund will have 0.3% lower performances.
Luxemburg funs like SRI from UBS have the same tax rate as swiss funds.
You would need to select this fund: S&P500 (IE00B5BMR087)
Thanks for that.
Thats a bummer, seems like thats not gonna work then.
I guess the way to go then is to not use the world funds they provide, but to use IE00B5BMR087 for US Stocks
If you select the Global 100 strategy, by default the IE fund is selected
The summary of the Federal Tax Agency says that dividends to pension institutions are free of withholding tax.
However, Art. 10 (3) together with Art. 28 (4) b DBA USA seems to be describing another case. I don’t quite understand this.
If the ETF is liquid (which is the case of the ETFs chosen by VIAC) , most of the time the buy and sell fees are lower than funds.
iShares NASDAQ 100 - spread is 0.03 %
https://six-group.com/exchanges/funds/security_info_fr.html?id=IE00B53SZB19USD4
iShares Core S&P 500 UCITS ETF USD (Acc)
Spread is also 0.03%
Pillar 2 yes,
Pillar 3 no
I agree with this. SSP however applies to funds, not ETF.
How did you reach this conclusion?
Could you provide a source for this?
Dear VIAC users,
I assume some of you use their own personalized portfilio insdead of the ones already provided by VIAC. For you, how does your portfolio looks like?
20% SMI
17% SPI Extra
20% World ex CH
20% Wolrd ex CH Small Cap
20% EM
Return is 15.02% YTD
3% cash
30% World ex CH
20% World ex CH small cap
10% EM
2% SMI
30% SPI Extra
Return -2% since May 2018
35% Emerging Market Bonds
15% High Yield Bonds
5% CH Real Estate
50% Cash
Return: 7.54% (first half-year of 2019)