Advice on my 'getting back into investing' portfolio

US/World ETF

I don’t think a total of ~30% US stocks is something that is too risky for now. And you allocated a sizable home bias. You could look into value funds which have lower US weights and some academic justifications. E.g. MSCI World Enhanced Value from Ishares or Xtrackers with US at ~40% weight. But Swiss tax treatment is unfavorable for UCITS dividends (dividends in general), and value has higher dividends.

Swiss CHF ETF

Echoing @jay: Use an all-caps market ETF instead (e.g. SPICHA from UBS, there is also an Ishares one). Novartis, Nestlé, Roche go from ~45% to ~35%, top 10 from ~80% to ~65%. You could replace some with SPI Mid-Size (SPMCHA from UBS). But a total of ~5% in NNR is not that concerning.

Cash

I’m not sure it is usefull in Switzerland above daily “emergencies” and short-term expected expenses. You can get immediate liquidity from a credit card. And anything long-term can only realistically be caught by social security, or a much larger portfolio, or getting more from your human capital (work more).

But to ward against a loosing access to your capital event, I would at least not put it in the same space as the rest of your capital (IBKR). Interest is 0 anyway and you need a real bank account anyway.

Commodities

I think there are better diversifiers than a long commodity derivatives basket. Managed futures (thread) would be my first line diversifier (e.g. DBMF UCITS ETF). But as with all assets, you need to have enough conviction to avoid adverse buying and selling behavior.

Real Estate
If you don’t own real estate it could be a good diversifier. Swiss real estate funds are not included in stock indices as far as I know. Funds with direct holdings (thread) have a very favorable tax treatment. I don’t know enough about this asset class to say if it is worth it. The funds are somewhat diversified but this is no index investing and there are probably intricacies that I don’t fully understand (e.g. agio).

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