Bogleheads.org

I found this newer study by Javier Estrada, 2021: https://blog.iese.edu/jestrada/files/20 ... a-SGWS.pdf.
On page 16 of this paper there is a table for UK. A 3% withdrawal rate (33x annual first year inflation-adjusted withdrawal from portfolio as inital retirement savings) from a 60/40 UK stock/bond portfolio never failed, whereas a 4% withdrawal rate (25x annual first year inflation-adjusted withdrawal from portfolio as inital retirement savings) failed in 22% of the cases.

You may want to look at Wade Pfau's 2010 paper: "International Evidence on Safe Withdrawal Rates from Retirement Savings: The Demise of the 4 Percent Rule?" You find it here: https://www.coronation.com/assets/Coroc ... avings.pdf. In table 3 of the appendix he specifies safemax withdrawal rate for the UK to be 3.77% under the conditions which he states in the paper. So maybe 3.5% with a margin of safety if you expect the future to sufficiently resemble the past.

It's dramatic title but European real estate ETFs have gone down by 40% last 12 months. What's happening? I know market isn't strong globally and interest rates are going through the roof but elsewhere the real estate funds have been performing more in par with the other market. If you have to finance your real estate purchase with a mortgage, the sum of (monthly) repayment and interest has doubled since beginning of 2022! A lot of owners want to sell at the old price but they won't get it any more. The market has turned from a sellers' market to a buyers' market. Than comes the political pressure from the EU for real estate to become carbon neutral until 2030 or 2035. Real estate owners may face the obligation to renovate their heating, i...

Occam's razor comes to my mind: entia non sunt multiplicanda praeter necessitatem! Occam's razor suggests that, given multiple solutions, the simplest one is often the best. For me, two ETFs tracking the same index, only with different replication methods, is unnecessarily making things more complicated. If you prefer transparency and simplicity, then the physical ETF might be the better choice. If you are willing to accept more complexity and less transparency for the potential of higher returns and lower taxes, then the synthetic ETF might be the better choice. Choose one! I would go with transparency and simplicity.

Thanks for the reply. A single ETF like Vanguard LifeStrategy seems the easiest choice. Is it a common choice to invest in just one ETF? Could you tell me about the % of profit and the expenses (buying and mantain) for such ETF? Not precise numbers of course, just something for me, a complete noobie, to have a rough idea. Is it a common choice to invest in just one ETF? No. These kind of ActiveETFs that do rebalancing automatically are fairly new. So they did not have the time to become a common choice. (I guess the worst thing that could happen is, that the ETF gets closed because of low demand and you would have to pay capital gains taxes) The TERs for LifeStrategy ETFs are 0.25%. When you buy and sell there will be bid-ask spreads in th...

Questions: 1. Does my planned portfolio make sense? Are there things that you would recommend against/would do differently? 2. I'm trying to pick ETFs where TER is low. Hence, in most cases, I cannot pick Vanguard. Does the ETF provider make a big difference or can I continue to pick SPDR instead of Vanguard for example? 3. Planning on buying Ireland domiciled ETFs; Planning on buying Accummulating ETFs - any remarks about my choices? 4. Is adding Momentum Factor ETF an overkill? I would like to specifically track the MSCI USA MF index due to better returns and the flexibility to use them as short-term investments in certain situations. Have I understood this part right? 5. Do you have any other suggestions for ETFs to diversify my portfol...

Hi tobson, Start here: https://www.bogleheads.org/wiki/Getting_started_for_non-US_investors Than read that as suggested: https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_philosophy_for_non-US_investors Finally decide on asset allocation and instruments using this as a guide: https://www.bogleheads.org/wiki/EU_investing That should provide enough material to get you started with actually investing your money. A good core portfolio would be: x% in a global stock ETF like Vanguard FTSE All-World ETF or iShares MSCI ACWI ETF (100-x)% in a global bond ETF hedged to EUR like Vanguard Global Aggregate Bond ETF EUR Hegded or iShares Global Aggregate Bond ETF EUR Hedged. Or the appropriate ETF from the Vanguard LifeStrategy x% Equity ETF ...

The Vanguard paper "The role of home bias in global asset allocation decisions" may be of interest: https://static.vgcontent.info/crp/intl/ ... 9%7C151400
...and the fact that the home biased version of the Vanguard LifeStrategy Funds UK tilt their global portfolios towards UK. Here is a fact sheet: https://www.vanguard.co.uk/content/dam/ ... 2-2022.pdf
This could give some hints at how to lower the weight of US.

Hi rein89, Regarding Germany, products like Riester-Rente or Rürup-Rente are in no way comparable to US tax advantaged retirement accounts. You cannot have a three fund portfolio in both account types. Products for Riester- or Rürup-Rente have to be certified by German tax authorities, which leads to overregulated products that have to invest conservatively. The cost of the product (often 1.5-2.5% p.a.) eats up the bonus you get from the state. As the name says, these products are pensions, not retirement accounts that belong to the account owner. They are not inheritable (in case you have kids, some products can be transferred to the Riester-Rente of your surviving dependents, in case you die.) You can't have them be payed out entirely at ...

Given that you couldn't use ETFs, what world index with 50-100 stocks would you try to replicate? What do you think of the Dow Jones Global Titans 50? Thanks The first 50 stocks of the FTSE All-World Index (and ETF) make up about 30% of global market cap. You can look them up here https://www.it.vanguard/investitori-privati/prodotti/etf/azionario/9679/ftse-all-world-ucits-etf-usd-accumulating where you go to "Dati delle partecipazioni" and do the "Esporta". There you can export the holdings of the FTSE All-World ETF, add the percentages of say the first 50 stocks and calculate where you end up with the cumulative market cap weighted of these first 50 stocks. Then check what is more diversified regarding countries and se...

Hello to all, im investing with the Three fund portfolio "system" un Germany though, and my comparable IRA offers no total international stock. I'm thinking instead to take ishares ETFs as follows to cover the international part, but then it would be more than 3 funds of course in total. iShares Core MSCI Emerging Markets ETF USD iShares Core MSCI Europe ETF EUR iShares Nikkei 225® ETF JPY is it spreading too much, or any other ideas? Thanks! OR Take a look at Vanguard Model Portfolios. There you can see how a specific allocation to stocks and bonds is split up into regional ETFs and percentages. https://www.de.vanguard/content/dam/intl/europe/documents/de/range-of-passive-model-portfolios-eur-eu-de-pro.pdf It should not be too h...

Hello to all, im investing with the Three fund portfolio "system" un Germany though, and my comparable IRA offers no total international stock. I'm thinking instead to take ishares ETFs as follows to cover the international part, but then it would be more than 3 funds of course in total. iShares Core MSCI Emerging Markets ETF USD iShares Core MSCI Europe ETF EUR iShares Nikkei 225® ETF JPY is it spreading too much, or any other ideas? Thanks! OR Take a look at Vanguard Model Portfolios. There you can see how a specific allocation to stocks and bonds is split up into regional ETFs and percentages. https://www.de.vanguard/content/dam/intl/europe/documents/de/range-of-passive-model-portfolios-eur-eu-de-pro.pdf It should not be too h...

Ependytis wrote: ↑Thu Feb 23, 2023 12:16 pm In terms of balanced funds, being from Germany, you can invest with Charles Schwab International- a low cost broker. I would try to find their low cost balanced fund that invests globally, then set up your account, auto invest, and forget it.

Keep in mind that not all international brokers provide tax reporting (Jahressteuerbescheinigung) according to German tax rules. If you chose a broker that doesn't, you have to do the tax reporting yourself or get a tax consultant that does it for you.

But if this is somewhat of an ordinary market development, why would people hold bond ETFs in their portfolio if they have negative returns over several years? Would not cash then be a safer option? You have to look at the role of the bond ETF in the whole portfolio. For some people who live off their portfolios like me it is all about staying in the game. When stocks plummet badly, every amount that I would have to take from stocks would endanger my future financial well-being. So that's what the bonds are for: buffering bad shocks to equities and staying in the investment game with the chance of making up for the losses. In a world of certainties, where you know you won't lose your job at the wrong time, you won't need the money for the ...

1. Main goal of this portfolio is to "Set-it-and-forget-it" with minimal maintenance, stable monthly contributions of up to 1.500 EUR and where necessary a re-balance in the medium-to-long future. 2. I prefer diversified portfolios - but still a beginner, therefore only familiar with Equities, Bonds and REITs - therefore would like to stick to these three asset classes. An expansion into other kinds of assets i.e. Commodities, TIPS, etc. could happen in the future, but again, simplicity is the main goal I am pursuing. 3. Related the the point above, which further asset class(es) would compliment the portfolio? This is so I may start researching in the right direction. All comments and criticism is welcome, and thanks a lot Bogleh...

Or will this self correct over time because i invest 12k a year in my ETF's and only 1,5k in the mutual fund? If it will self correct, should i just focus on keeping my ETF portfolio at the percentages explained above (70/15/5/10)? Or am I overthinking his? This! If you put almost 90% of your yearly investments into the (70/15/5/10) above, the overweight to European large caps will decrease rapidly. Running some numbers based on what you said: Starting with an 18k overall portfolio (pension fund + ETF portfolio) with an allocation of EU LargeCap: 53,94% EU SmallCap: 1,71% US LargeCap: 24,29% US SmallCap: 5,24% EM LargeCap: 5,42% Others: 9,39% (--> a bit of japan and canada, etc) where 6k is in the ETF portfolio EU LargeCap: 17% EU SmallCap...

World aggregate bonds ETFs seem ideal to me for a 60/40 portfolio, but not when I have the belief that a recession is coming, because the corporate bonds would likely suffer too from the recession. Corporate Bond funds make up about 20% of aggregate bond ETFs. If they (and only they) lose 20%, you lose 4% invested in such an ETF. Then, maybe the different economies would recover at different times, with regional ETFs I can start to sell the bonds and buy in equities again when I think it's mostly safe, for example after a big drawdown and a big reduction of the interest rates. This is a game you could win only if you have more information than others. You are competing against a bunch of agents that have more information than you. Prices w...

Would you consider doing such a thing, given the numbers? A difference of (0.6*0.9988³⁰+0.4*0.999³⁰)-0.9975³⁰ = 3.9% (0.6*(1 - TER_VGVF)³⁰ + 0.4*(1 - TER_VAGF)³⁰) - (1 - TER_V60A)³⁰) over an investment lifetime of 30 years is something to consider. A more complex asset allocation with rebalancing would have more transaction costs and taxes. Vanguard LifeStrategy manages that for you and probably saves you transaction costs and taxes. If you leave out EM because of higher TER there will be times when you rather would like to have added EM (vice versa). If you have a more complex asset allocation you start to ponder about percentages (6% EM, 10% EM or even 30% EM???) More complex allocations offer more opportunities for investment errors. I ...

The "natural" counterpart for VAGF in a 60/40 portfolio would be 60% Vanguard FTSE All-World UCITS ETF - (USD) Accumulating (VWCE). TER is 0.22%. Cheaper would be 60% Vanguard FTSE Developed World UCITS ETF - (USD) Accumulating (VGVF). TER is only 0.12%. Or more complex but with EM: 50% Vanguard FTSE Developed World UCITS ETF - (USD) Accumulating (VGVF) and 10% Vanguard FTSE Emerging Markets UCITS ETF - (USD) Accumulating (VFEA). TER is 0.22%. Combinded TER is about 0.14%. 50% Vanguard FTSE Developed World UCITS ETF - (USD) Accumulating (VGVF) 10% Vanguard FTSE Emerging Markets UCITS ETF - (USD) Accumulating (VFEA)* 40% Vanguard Global Aggregate Bond UCITS ETF - EUR Hedged Accumulating (VAGF) would have a combined TER of 0.122% an...

galeno wrote: ↑Tue Jan 31, 2023 8:01 am We use unhedged AGGG because it's a distributing fund. AFAIK all the hedged funds, e.g. VAGU & AGGU, are accumulating funds.

Fortunately there is a distributing share class, Vanguard Global Aggregate Bond UCITS ETF - EUR Hedged Distributing (VAGE). That's what I use since I live off the dividends of my portfolio. But it only seems to be available at German stock exchange.

tradez wrote: ↑Sun Jan 29, 2023 7:19 pm Got it. I am still trying to understand the difference between the two Vanguard bond funds, especially as they have different TER.

The main difference is
that Vanguard Global Bond Index Fund GBP Hedged Acc is an index fund
with fund benchmark: Bloomberg Barclays Global Aggregate Float Adjusted & Scaled TR USD
and inception date 23/06/2009

and Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulation is an ETF
with the same benchmark: Bloomberg Barclays Global Aggregate Float Adjusted & Scaled TR USD
and inception Date 18/06/2019

Here is more about the difference between ETFs and index funds: https://www.bogleheads.org/wiki/ETFs_vs_mutual_funds

Why is the cost of hedging equal to the difference in real interest rates? The real interest rate is uncertain because it's hard to forecast inflation (the inflation derivatives market is not liquid)? So you can't know what your actual real value will be, say 1 year out? Why not nominal interest rates? The cost of Foreign Exchange Forward contracts is, simply, the difference in nominal interest rates (with a very small spread around that). I was convinced that (in the thread I mentioned) alex_686 was right in saying: "Most bond funds use "Zero Cost" hedging, where the cost of the hedge is the difference between short term home currency government bonds and the short term foreign currency bonds. Normally, short term bonds hav...

This is splitting hairs. 12% or 13% in Emerging Markets does not make any difference. (And of course do the MSCI ACWI or FTSE All-World indices actively update their EM weighting....to market weight) If you want to overweight EM, 70%/30% DM/EM starts to make a difference. A 3-fund portfolio is a US-centric concept. If your home country has by far the largest market in the world and the leading currency, it probably makes sense to say 40% Total US stocks/20% International stocks/40% Total US bonds. From a European perspective, it would make more sense to go with say 50% MSCI ACWI or FTSE All-World/10% European stocks/40% Global Aggregate Bond if you definitively want a 3-fund Portfolio. I think just a two-fund portfolio of 80% MSCI ACWI and...

The point of my question is: should I have a global bond and pay the hedging costs or should I buy € bonds and not pay the hedging? You may be interested in this thread: https://www.bogleheads.org/forum/viewtopic.php?t=289611 . Main points of the thread: The cost of hedging should be close to the difference in the real interest rates. Otherwise there would be opportunities for arbitrage. If the cost of hedging is higher than the difference in real interest rates you could buy global bonds and sell a currency hedge and make a profit. Conclusion: the real return of a global bond fund hedged to EUR should be similar to the real return of a EUR bond fund with a similar risk profile. The real interest rate in the EUR zone is kept artificially l...

SO MSCI ACWI, and FTSE ALl-World have a 12% weighting of EM. I did some research and it appears that EM equities are closer to 13%. Do either indexes actively update their EM weighting? Also, is this an argument have a 3-fund portfolio so you can weight EM higher than that the current indexes have? This is splitting hairs. 12% or 13% in Emerging Markets does not make any difference. (And of course do the MSCI ACWI or FTSE All-World indices actively update their EM weighting....to market weight) If you want to overweight EM, 70%/30% DM/EM starts to make a difference. A 3-fund portfolio is a US-centric concept. If your home country has by far the largest market in the world and the leading currency, it probably makes sense to say 40% Total U...

tradez wrote: ↑Sat Jan 21, 2023 5:43 pm I am bullish on emerging markets in the long term (mainly India), but less optimistic about China.

A question to ask: What do you know MORE about China than the market (i.e. the aggregate of all these private and professional investors out there)? With your knowledge is it more or less likely that you find the right weight for China compared to the market? If you come to the conclusion that it is probably less likely that with your limited knowledge you find the right weight of China than you probably should stick with products like Vanguard FTSE All-World or iShares MSCI ACWI. You could tilt towards India by adding a (rather expensive ) iShares MSCI India ETF.

Thank you for the response. Is there a tool I can compare IWDA + EIMI with SSAC, to see exactly how the tilt/split changes? You could use Portfolio Visualizer and enter the US equivalent tickers for SSAC, IWDA, EIMI (actually I didn't find an US equivalent ETF for EIMI, so I just took the standard iShares MSCI Emerging Market ETF IEMG): https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2023&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&leve...

Hi tradez,
some investors don't like the 60% market capitalization weight of the United States in global equity ETFs.
They try to reduce the country risk they perceive by overweighting emerging markets. 70% MSCI World/30% MSCI Emerging Marktes seems to be a common split. This reduces the US country weight to about 40% and almost triples the China weight from about 3.8% in MSCI ACWI to 10%.
"Suum cuique", to each his own, is an old Latin proverb. You don't have to overweight emerging markets. I don't do it either.

This recent thread has a similar topic:
viewtopic.php?t=382531

As EU investor you could approximate the desired portfolio like this: 35% SPDR MSCI USA Small Cap Value Weighted UCITS ETF, ISIN IE00BSPLC413 25% SPDR MSCI Europe Small Cap Value Weighted UCITS ETF, ISIN IE00BSPLC298 40% SPDR Bloomberg Barclays Global Aggregate Bond UCITS ETF EUR-Hedged, ISIN IE00BF1QPL78 So yes, it is more or less possible and practical to create such a three-fund portfolio from the EU. Note: there are no stocks from Asia-Pacific in this portfolio since to my knowledge there is no Asia/Pacific Small Cap Value Weighted ETF available. There is also no MSCI World Small Cap Value Weighted ETF available to my knowledge. Factor premia come and go, so I don't know what returns this portfolio will deliver in the future. Would all ...

EnduroDon wrote: ↑Tue Nov 29, 2022 12:55 am Thank you for the reply, good that I made this post, I see . So, your advice, when I want to go 100% stocks, is to go 100%:
VANGUARD FTSE AW (IE00B3RBWM25) exp ratio of 0.22%, if I am correct.

Yes, you are correct.
I just want to hint at the existence of the accumulating version:
Vanguard FTSE All-World UCITS ETF - (USD) Accumulating (ticker VWCE, ISIN IE00BK5BQT80).
I don't know what is better (tax- and otherwise) in the Netherlands: accumulating or distributing.
Maybe another point to consider.

Tellurius wrote: ↑Sun Oct 16, 2022 3:31 pm Does anyone know a good website to easily find European country bond yields for different maturities?

Take a look at this bond finder tool from Frankfurt stock exchange https://www.boerse-frankfurt.de/bonds/search
For finding the bond at your broker you may have to convert WKN (security identification number) to ISIN with this tool:
https://www.isindb.com/convert-wkn-to-isin/

Or do you mean yield curves for different European countries?

This: VANGUARD FTSE AW (IE00B3RBWM25) exp ratio of 0.22%
and done!
With about 60% weight US equity is already heavy in all global equity etfs. So why overweight?

And yes, with 500€/month buy all the ETFs you can and save the rest until you can buy another ETF.
The price of most ETFs is sufficiently small. The opportunity costs are minimal.
With Berkshire Hathaway Inc. Class A shares (about 450000€/share) it would be a different story

But investing 20k all at once doesn't beat the purpose of "time in the market"? I mean wouldn't be better to split 20k in 20 monthly payments so I make sure I buy the average price of that period? Or maybe I don't yet understand what you meant here, sorry. :) To cite from this https://www.bogleheads.org/wiki/Dollar_cost_averaging wiki article: "Lump sum investing will always carry a higher expected return, because it immediately moves your funds from asset classes with lower expected returns to ones with higher expected returns. Note that higher expected returns do not guarantee that your actual returns will be higher. ... studies indicate that lump sum investing has produced higher returns 66% of the time." "Time ...

I would move Vanguard FTSE All-World to STRATEGY #3: one ETF that includes developed and emerging markets. I like to hint at https://www.bogleheads.org/wiki/EU_investing#Sample_portfolios for EU investors. 1. What do you think about my selection of ETFs and what would you recommend? The ETFs you selected are country/region/criteria-specific (USA, Europe, developed/emerging...) It would be easier to use a single ETF for your equity exposure like Vanguard FTSE All-World UCITS ETF - (USD) Accumulating (VWCE) or iShares MSCI ACWI UCITS ETF (IUSQ) 2. What do you think about the splits I proposed? What would you do different? Don't slice and dice, just buy the market. 3. I would like to include BONDS somehow but I have a hard time finding BONDS E...

Oh I see, AGGG is unhedged. From the paper and general wisdom would follow, that you should consider the USD-hedged version of iShares Core Global Aggregate Bond UCITS ETF (tickers AGUG/AGGU) instead of AGGG. DXY (USD index): USD is strong, other currencies weaker, timing to hedge to USD wouldn't be great (unless USD strengthens further). Likewise timing to move from AGGG to IUAG wouldn't be great (unless USD strengthens further) since you move from weaker currencies to stronger dollar. The difference in nominal yields reflects CURRENT difference in inflation expectations/monetary policy of the different currency areas. In the short run (say time period of the duration) IUAG indeed looks better for LATAM investors who use the USD. In the lo...

Hi galeno,
from my stay in Costa Rica I remember that - due to the high inflation rate of the colon - the "reserve currency" of private savers was the US Dollar. I guess that has not changed much. So in a way IUAG would lower your currency risk since you can (still) pay with US dollares (I guess). Would I sell AGGG to buy IUAG? Probably not. The reasons are to be found here:
https://www.vanguard.ca/documents/going ... -bonds.pdf

Addendum: I also remember US government shutdown and debt ceiling coming up every now and then because of political stalemate.

TitanT2 wrote: ↑Fri Oct 28, 2022 9:03 am Do you perhaps have an idea of how can I see how much traffic of each of those is there on a particular stock market? I think it's likely I'll ask my broker to include those ETFs.

The ETFs are fairly new (2020-12-08) and not well known. Compared to say Vanguard FTSE All-World traffic is very low and bid ask spreads are higher.

For Xetra (electronic trading platform of German stock exchange) you can go here https://www.boerse-frankfurt.de/en/etf/ ... tf-eur-acc to look at turnover, bid-ask spreads (only during trading hours) and so on. Not familiar with other stock exchanges.

I have to admit, I am still a bit hesitant on them, seeing as how their 'worldwide' part of exposure is weighed significantly towards the UK (the UK is overrepresented). I am unsure what to make of it. There is no UK tilt in the Vanguard LifeStrategy ETFs available at Deutsche Boerse, Borsa Italiana, NYSE Euronext Amsterdam (and elsewhere?): Vanguard LifeStrategy® 20% Equity UCITS ETF (EUR) ACCUMULATING IE00BMVB5K07/A2P7TN Vanguard LifeStrategy® 20% Equity UCITS ETF (EUR) DISTRIBUTING IE00BMVB5L14/A2P7TG Vanguard LifeStrategy® 40% Equity UCITS ETF (EUR) ACCUMULATING IE00BMVB5M21/A2P7TJ Vanguard LifeStrategy® 40% Equity UCITS ETF (EUR) DISTRIBUTING IE00BMVB5N38/A2P7TL Vanguard LifeStrategy® 60% Equity UCITS ETF (EUR) ACCUMULATING IE00BMVB5P...

What do you think of my analysis, and what do you think would be good insights as well as good next steps for me? I think your analysis is heavily biased towards "Investing for US citizens." The Intelligent Investor by Benjamin Graham is the bible of value investing. Many bogleheads and surely Jack Bogle himself are skeptical about factor investing (value being one of the many animals of the factor zoo). As soon as you have digested the investment philosophy of this forum https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_philosophy_for_non-US_investors take a look at the wiki. The wiki main page for EU investors is https://www.bogleheads.org/wiki/Outline_of_non-US_domiciles#Investing_in_and_from_European_Union_countries...

What about 90% Vanguard FTSE All-World UCITS ETF Acc, TER 0,22% 10% Vanguard Global Aggregate Bond UCITS ETF EUR Hedged Acc, TER 0,10% Portfolio TER ca. 0,21% Vanguard LifeStrategy 100 does not exist. Closest one ETF solution to your desired allocation would be Vanguard LifeStrategy 80 (80% equities) or 100% Vanguard FTSE All-World (100% equities). Note that Vanguard LifeStrategy is indeed a strategy for life! You would have to add a bond fund in order to increase the fixed income part of your portfolio. If you change strategy and sell Vanguard LifeStrategy 80 to buy for example Vanguard LifeStrategy 60, you would incur capital gains taxes. That is why I prefer the two ETFs above. If this is still too expensive for you, this is even cheaper...

Vanguard's take on the subject: https://www.vanguard.ca/documents/going-global-with-bonds.pdf Conclusion: "The key to realizing the diversification potential of global bonds is to hedge the currency exposure back to the investor’s local currency." You may want to add these to your list: Vanguard Global Aggregate Bond UCITS ETF EUR Hedged Accumulating | IE00BG47KH54 Vanguard Global Aggregate Bond UCITS ETF EUR Hedged Distributing | IE00BG47KB92 Note, that there are some investors here at bogleheads who don't subscribe to the Vanguard principle of hedging fixed income to your local currency and rather invest in an ETF like iShares Core Global Aggregate Bond UCITS ETF | AGGG. Presumably because of the (perceived) instability of the E...

The entire interview can be watched here:
https://www.youtube.com/watch?v=U3rAm3c ... HNYyEGOcCU

For comparison of tracking differences (and other information) take a look at https://www.trackingdifferences.com

You can download Holding details for VWRL for example from the Netherlands professional investor version of the Vanguard ETF page: https://www.nl.vanguard/professional/product/etf/equity/9505/ftse-all-world-ucits-etf-usd-distributing Scroll down to Holding details and press the Download button. This gives you a xlsx excel spreadsheet of all stocks that the ETF holds together with the following columns: Ticker, Holding name, % of market value, Sector, Region, Market value, Shares Accuracy is to the 4th decimal digit, like: AAPL, Apple Inc., 3,6907%... It is updated once a month. You can perform some statistics of your liking on top of the data by using (standard) filters or by defining some other functions in different tables of the same spr...

Questions: 1. I have about 80,000 euros in savings and an annual income of 50,000 euros. I just opened a broker account and intend to invest half (40,000 euros) of this savings on ETPs and subsequently 1,000 euros a month for the next couple of years. Taking advantage of DCA that I have read about on this forum, I intend to avoid a lump sum investment and invest about 4,000 euros a month for the next 10 months, then 1,000 euros a month from the 11th month. Is this a good idea? Statistically it is a better idea to lump sum it all at once. You may be lucky with DCA in a falling equity market. You may not be lucky, if the market keeps rising from here. Statistically it has risen more than it has fallen, hence the advantage of lump sum investm...

iShares Global Aggregate 1-5 Year Bond Index Fund (IE)
This is an index fund, not an ETF though.
The fund has many share classes that are either unhedged or hedged to different currencies and either accumulating or distributing.
sorry. only for institutional investors/investors with more than 500k €/$.

You may want to read https://www.vanguard.ca/documents/going ... -bonds.pdf
Key takeaway: "An allocation to global bond markets gives investors exposure to a greater number of
securities, markets, and economic and inflation environments than they would have with a
portfolio composed purely of local market fixed income. This diversification can
help reduce a portfolio’s volatility without necessarily decreasing its total return."

I get a list of Bunds using the bond finder tool of Deutsche Börse (german stock exchange) and filtering for German Bunds
https://www.boerse-frankfurt.de/bonds/s ... CTION=DESC
Entering some WKNs (security identification number) at my broker, some Bunds are tradable, others not, for reasons I don't know.
As for direct buying of German Bunds: The Deutsche Finanzagentur stopped selling Bunds directly to retail investors in 2012. I don't know about other countries.
This tool converts WKN to ISIN in case your broker does not support WKNs:
https://www.isindb.com/convert-wkn-to-isin/

They track different indexes. Any idea what the difference between these indexes are? Look at this index factsheet: https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rjx3kpzZ7r1M/v0 Here it explains "float-adjusted and scaled": Adjustments to Amount Outstanding • Federal Reserve purchases of nominal US Treasuries in open market operations are adjusted using data made publicly available on the Federal Reserve Bank of New York website. • Adjustments to each security’s amount outstanding are made on a monthly basis in the Projected Universe for government purchases and sales for the Federal Reserve SOMA account conducted in the previous month. • The adjustments are reflected in the Returns Universe in the following month. • When U...