New listing in Zürich:
SPDR MSCI ACWI IMI UCITS ETF
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As a value-investor, I prefer to buy out of favour companies and industries. It isn’t surprising that a good chunk of my portfolio has been in: energy, mining, defence, tobacco, coal, uranium.
I think of it as a ‘buy low’ strategy. I feel that tobacco is really the only one that will be disappearing relatively soon but I keep it in the portfolio for defensiveness and robust cash flow in the near term.
The number of holdings on justetf seems to be wrong. From the factsheets:
- SPDR MCSI ACWI: 2414 holdings
- SPDR MSCI ACWI IMI: 2620 holdings
But still only ~200 holdings more. ACWI has also a higher TER of 0.4% compared to 0.17% for the IMI even with a larger fund size. And is listed in CHF@SIX and the IMI version only in USD@SIX.
So also no conclusion for now.
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SPDR MSCI ACWI IMI UCITS ETF looks really interesting to me. The amount of holdings increased to 2610 and performance wise it is comparable to VWRA but TER is lower (0.17 vs 0.22). Do you still have no conclusion on this @Dr.PI ?
SPDR® MSCI ACWI UCITS ETF (IE00B44Z5B48) currently lists 2409 holdings.
The “last” two, that is the smallest stock positions held and tradeable of which seem to be China Northern Rare Earth (Group) High-Tech Co. Ltd. and Horizon Construction Development Limited at 0.000212% or 0.000073% of NAV, respectively.
That’s 21 (or 7) Cents on every CHF 100’000 invested.
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I’ve been looking at this: UBS Irl ETF plc - MSCI World UCITS ETF (WRDUSW), link here: UBS Funds - Mutual funds and separate accounts | UBS Switzerland
- listed on SIX
- 0.1% TER
- Accumulating
- 1’498 holdings
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Traded in USD.
Its quite a small fund with below 100 mio assets. In addition the Tracking difference suggests that the fund may be slightly costlier than the TER suggests (keep in mind: Tracking difference is a backwardc looking metric): UBS ETF (IE) MSCI World UCITS ETF (USD) A-acc (IE00BD4TXV59) - ETF Tracking Differences and Performance
With the reduction of the TER, the fund should be able hopefully to pass the 100 mio AUM metric in the next 12 months.
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You have the WRDUSY, traded in CHF with the same TER.
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But only traded in USD@SIX. Which I find weird since SPDR MSCI ACWI UCITS ETF is traded in CHF@SIX
I can find the ETF and it is also part of a 0% ETF of neon invest
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They added it since then. 
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There is a new ucits f̵t̵s̵e̵ solactive all world with 7 bps
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Right.
This etf use Solactive as an index provider, which is less known than MSCI or FTSE, so the licensing fee should also be cheaper
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For the ones with portfolios >2M, did anyone ever take a closer look at Swiss institutional funds? UBS (CH) Institutional Fund - Equities Global Passive II I-X (UBS Funds - Mutual funds and separate accounts | UBS Switzerland) seems very attractive to me with a 0.01% TER and only a 0.04% entry spread (+ no stamp tax as a fund). There is also a developing market version. I think from a WHT perspective this should be pretty similar to Irish ETFs with the additional very small benefit that it does not include any Swiss stocks, so you do not lose the Swiss withholding tax.
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Even if the fund included them… Why would you lose Swiss withholding tax on Swiss stocks? 
Can non-Swiss ETFs reclaim the Swiss withholding tax?
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Investing in such a fund requires a separate agreement with UBS, which will include a compensation for asset management and fund administration. I.e., 0.01% TER doesn’t include the management fee in this case. This is similar to the zero TER index funds used by VIAC and finpension.
And I highly doubt 2 Mio. in total is sufficient to even get such an agreement. 2 Mio. would be tiny for an institutional investor.
Aren’t funds domiciled in Switzerland subject to 30% US WHT on US stocks (except for the special pension funds)?
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„ETF mit Domizil Schweiz dürfen im Gegensatz zu ausländischen ETF diese Verrechnungssteuer zurückfordern.“
Wie ETF besteuert werden | VZ VermögensZentrum
That‘s what I was thinking: the funds gets a refund. Its distributions in turn are subject to WHT (Verrechnungssteuer) - which, again, the Swiss resident investor will (easily) get back in his tax return.
We know (as personal investors) that Swiss residents are subject to a treaty rate of 15% WHT.
Edit: Please disregard next sentence That doesn’t mean that funds must have the same - but more often than not they do (and I‘m not aware of the contrary with regards to Switzerland).