Xtrackers PostFinance Global Portfolio Xtrackers UCITS ETF 1C

Investing / Portfolios
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PostFinance has launched with Xtrackers a new actively managed ETFs with a TER of 0.49%.
This is an expensive product which add little value compared to a all country world ETF (like Xtrackers FTSE All-World UCITS ETF 1C)

The description is:

  • Current allocation focuses on Equities across developed and emerging markets, complemented by Gold and Swiss Real Estate exposures to provide additional diversification;

But based on the current holdings, the fund has no real estate holdings

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interesting to see two things:

  1. That DBX apparently either had a very scalable platform or that they were super desperate. I see more and more of these “house strategy in an ETF” offerings by DBX; Lets watch that space, i don’t trust it
  2. That Postfinance’s CIO House View was utterely borring (12% Switzerland, 48% US, 10% EM, …). They don’t really have a lot of vision YET want quite a bit of money (remember this is not a TER, this is a management fee that they apply on top of the TER of the target funds

Re. Real Estate, they have a hefty 2% Swiss Real Estate Funds, by using the ZKB Tracker: CH0429803742. Does it move the needle? NOOOO… as said, very boring house view.

Most important thing though - historically, Postfinance was very close to UBS. Looks like there are some cracks in the relationship among post and UBS. Interesting.

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