[CZ] ETF investment plan check & questions

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Topic Author
JakubFranek
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Joined: Fri Mar 22, 2019 12:44 pm

[CZ] ETF investment plan check & questions

Post by JakubFranek » Fri Mar 22, 2019 2:13 pm

Hello guys,

I've read up on a lot of Bogleheads stuff and I feel ready to jump in. Some info:

Age: 23,5
Family status: unmarried, in a relationship
Occupation: microelectronics Master's student and intern
Country: Czech Republic (my native currency is CZK but I converted all the values to EUR for convenience)
Income: 400-600 EUR/mo
Expenses: 250-350 EUR/mo
Total cash savings: 6000 EUR (on 0,45% p.a. savings account)
Debt: 0
Note: starting July 2019 I'm going to work in Ireland for 1 year for about 2200 EUR/mo after taxes, so I plan to save a lot (and possibly stay but thats a big unknown).
Investment plan: I want to start regularly investing a part of my savings for retirement. I plan to only invest money which I don't expect to need for a few decades. I want to keep a hefty emergency fund on a savings account or something else non-volatile.

I plan to invest in ETFs via DEGIRO custody account (seems like the cheapest broker so far). Due to tax reasons I need to use accumulating ETFs. Based on research I've arrived at this:

Proposed portfolio:

~85% IWDA - iShares Core MSCI World UCITS ETF USD (Acc) 0,2% TER - free comission once per month :!:
~15% EMIM - iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) 0,18% TER

I like it because it minimizes fees. EMIM is not free (unlike IEMA, but IEMA has TER 0.68%) and the commission is 2 EUR, so I plan to buy it once per year. My single exchange of choice is Euronext Amsterdam as you pay 2,5 EUR per each exchange you use during the year on DEGIRO. I'm also gonna pay 0,1% currency exchange fee.

I am ready to invest about 1000-1500 EUR total in 2019 and ramp it up as my income grows. I can invest about 50 EUR/mo at the moment (roughly one share of IWDA monthly) and I can imagine that when I am in Ireland I could increase this to low hundreds.

Questions:
1) everything OK so far? Does 90/10 ratio seem better?

2) I don't include bonds. There are few hedged global bond UCITS ETFs, I only found is AGGH. It's not listed on EAM and it's not free commission, so it would add at least 4,5 EUR of fees per year. Second, the bond yields are low if any and I can keep the money on my savings account at guaranteed 0,45% p.a. (insured up to 100k EUR) instead. I am also thinking of changing to a bank offering 1% on savings account, I don't know if its worth the trouble at the moment though. Should I bite the fee bullet and get 20% of AGGH relative to the stocks anyway?

3) AFAIK EMIM includes EM small cap but IWDA does not include developed world small cap. I know the small cap UCITS ETF of choice is IUSN/WSML but, again, its not for free on DEGIRO and its not listed on Euronext Amsterdam. Would it be worth the additional fees (>4,5 EUR/yr) considering my starting volume? I'd probably get it later anyway.

Thank you very much.
Have a great weekend!

kotrfa
Posts: 30
Joined: Thu Dec 27, 2018 6:59 am

Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Fri Mar 22, 2019 3:50 pm

Hello fellow Czech :happy !

Congratulation to become a responsible person in so young age! I am 26 and I started Bogleheading about 3 months ago, so I am surely the expert here :D . That's a disclaimer if it's not clear - take everything I said as a "someone's experience", not a recommendation, I am still learning.

Here is my starter thread from few months ago, I basically came to the same conclusion - put everything in IWDA and EMIM on degiro, in my case I went adventurous to SC as well but I am actually considering to simplify even further and go just with EMIM and IWDA.

1) 85/15 vs 90/10 doesn't really matter. Choose one and stick to it. I would go with 85/15.
2) I wouldn't include bonds if you have a reasonable emergency fund and/or family support in the case shits really hit the fan. If I understand correctly, it makes sense in some cases when taxes play a role and/or you are already, none of which is your case. If you really wanted something safe, there is now a surprisingly good Czech bond with guaranteed 0.5 p.a.+inflation.
3) IUSN/WSML are btw. listed in Milano or something, so it's still totally possible to buy it on degiro just fine (as I do). On broker fees see below. I am 50:50 on recommending it...

As I said, I would recommend maxing stocks only (wait for bigger sums to avoid fees, investing 50 EUR is nonsense). When your situation starts to change, you would e.g. want a house/flat/whatever, you would need to plan about a year in advance probably or keep a lot of cash aside. If you are CS/tech, it's unlikely that you would have your salary lower than those 2k EUR (after taxes).

Regarding the broker fees - I would say it's so cheap that it's irrelevant. Consider the fact that if you buy IWDA for 1000 EUR for free, you would buy EIMI for 176 EUR with a fee ~2 EUR. Even if you did this every month (probably not needed), it's highly below a daily/monthly/yearly turbulence or exchange rate and will do like what, 30 EUR/year? Btw. there is about 1.5€/year per stock exchange you use (so it will be probably for that Amsterdam only in your case). Even if you were buying IUSN it's close to irrelevant, considering you are going to throw on it thousands of €. Here I am talking about broker fees, not TERs which are important to keep low of course!

On degiro, you will need EUR account on your name, I recommend Equa bank (for free, reasonable services and support). Get your salary in that one and then you can send it to degiro without any conversion. You can still only withdraw in CZK - but you don't want to withdraw for next decades anyway... :greedy Maybe we are going to have € already :D

Topic Author
JakubFranek
Posts: 4
Joined: Fri Mar 22, 2019 12:44 pm

Re: [CZ] ETF investment plan check & questions

Post by JakubFranek » Sat Mar 23, 2019 5:19 am

Thank you for your answer!

I'm probably going to keep it simple at least at the start with only IWDA and EIMI at 85/15.

Thanks for the info about government bonds, the inflation+0,5% p.a. looks pretty decent!

BTW 2k EUR net salary is something I don't expect to get in the Czech Republic any time soon. Integrated circuit design doesn't pay that well at the start of your career :|

kotrfa
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Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Sat Mar 23, 2019 11:32 am

Good choice.

FYI, I just read that those bonds are not as shiny as one would hope.

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alpine_boglehead
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Re: [CZ] ETF investment plan check & questions

Post by alpine_boglehead » Sat Mar 23, 2019 1:03 pm

Fellow central-European here :)

I wasn't aware that in the Czech Republic the salaries and costs of living were still *that* low :shock:

Your plan sounds like a good one.
IWDA and EMIM are fine (low costs, big size (for European ETFs at least), Ireland domiciled), the 85/15 split is totally ok. You could e.g. buy IWDA quarterly and EMIM once a year if you really want to avoid costs.

With degiro you have different account choices, "basic" and "custody". From their website:
A Custody profile is different from a Basic profile in that the securities are held separately from the lending pool of DEGIRO clients' securities and are thus unable to be loaned to third parties
So the custody account seems to be the safer choice, and in your case it shouldn't cost much more, only dividends have a fee put on them when using the custody account (e.g. this blog has a nice summary of it), but IWDA and EMIM are accumulating anyway (as you stated, in your case it's an advantage regarding taxes, too).

At your age and with a well-funded emergency fund and probably good job prospects, in my eyes you don't need to add bonds yet.

With Eurozone bonds (and bonds hedged to EUR), you'll not be too happy anyway. Negative real yield and safety, or high yield and more risk, go choose your pain. So I think insured savings accounts are fine (for emergency funds or as a bond substitute). They are one of the few advantages small investors have over institutional - we can use state-guaranteed savings accounts with yields that are quite a bit higher than state-guaranteed government bonds.

Regarding developed small-caps- if you intend to hold them at market weight - IWDA probably covers 90% of the market capitalization, so that would make the small-cap portion like 8% of the portfolio, i.e. like 100 Euros of your 2019 investment. I wouldn't bother at the moment. Keep it simple.

May you do well, I wish I'd had your grasp of investments that early in my career.

kotrfa
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Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Sun Mar 24, 2019 4:10 am

I wasn't aware of two types of account types in Degiro :shock: . So with the basic account, the money is theoretically less safe because I could lose them if something terrible happened to degiro debtors? I don't take advantage of the extra functionality with the basic account, but it surely doesn't hurt. Don't wanna hijack the thread though...
I wasn't aware that in the Czech Republic the salaries and costs of living were still *that* low :shock:

Yeah, it's pretty bad, the average monthly salary is still ~1300€ (here). Costs of living are correspondingly low if you live outside Prague.

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alpine_boglehead
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Location: Austria

Re: [CZ] ETF investment plan check & questions

Post by alpine_boglehead » Sun Mar 24, 2019 5:54 am

kotrfa wrote:
Sun Mar 24, 2019 4:10 am
I wasn't aware of two types of account types in Degiro :shock: . So with the basic account, the money is theoretically less safe because I could lose them if something terrible happened to degiro debtors? I don't take advantage of the extra functionality with the basic account, but it surely doesn't hurt. Don't wanna hijack the thread though...
There's actually even more types as far as I understand, Custody, Basic, Active, Trader, Day Trader, see here.

So yes, it's my take that the custody account profile is a bit safer. And as far as I understand, there's no disadvantages for long-term investors with accumulating ETFs only, the prices seem to be the same.

It's a bit weird though that if you really open an account and invest in IWDA (which is on the free ETF list), you pay nothing at all, i.e. degiro earns nothing (with a custody account, not even securities lending revenue). I'm always a bit concerned when I don't understand how a company makes a living. Obviously they have to live off heavy traders, not bogleheads.

Topic Author
JakubFranek
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Re: [CZ] ETF investment plan check & questions

Post by JakubFranek » Sun Mar 24, 2019 12:35 pm

kotrfa wrote:
Sat Mar 23, 2019 11:32 am
Good choice.

FYI, I just read that those bonds are not as shiny as one would hope.
Hello, do you mind telling me where's the catch? I don't subscribe to HN anymore so I can't read the article and I didn't find any information which suggests there is this kind of catch on the official bonds website.
Fellow central-European here :)

Also big thanks to alpine_boglehead :beer
BTW my income and expenses are small because I'm a student living at my parents house. My only income is based on part time internship and stipends based on good grades paid by my school. Realistically I'd expect my starting wage in CZ to be roughly 1500-1600 EUR/mo brutto.

engineerahead
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Re: [CZ] ETF investment plan check & questions

Post by engineerahead » Thu Aug 22, 2019 12:12 am

Hello guys, a fellow CZ starter here!

Portfolio plan:
You're going for the typical allocation which is probably the best way for starters. The allocation % you mention (80/20 85/15) doesn't really matter, but if you really want to tinker, then the goal is to replicate the All World index, which is divided around 88/12 (89/11) of IWDA/EMIM.

Even though it's easy to go two big stocks, I've recently encountered an idea where the people that don't mind the hassle of having multiple ETFs go for the All World allocation manually, which is about 6-7 ETFs altogether, but the total TER goes from around 0,20 to 0,12, but at the cost of additional expenses PER trade depending on your broker - my calculations are that in the longer investment horizon and higher value of portfolio this is the cheaper result over years even though you pay extra per exchange.

Bonds?
All of us are in an age which would be considered at the very beginning of the investment career and if you do not want to touch the stock money for years at a time, then I don't see the point of adding the bonds in the first place (for now). I know this could be regarded to how much stress you can stomach but if you now know you will invest for 10+ years then just don't bother about momentary fluctuations of the markets.

Plans:
Are you guys just planning to increase your wealth or do any of you plan to FI/RE?

DJN
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Re: [CZ] ETF investment plan check & questions

Post by DJN » Thu Aug 22, 2019 4:48 am

Hi,
JakubFranek wrote:
Fri Mar 22, 2019 2:13 pm
starting July 2019 I'm going to work in Ireland for 1 year for about 2200 EUR/mo after taxes, so I plan to save a lot (and possibly stay but thats a big unknown).
you are on a clear investment path. However if you remain in Ireland and become an Irish taxpayer your plan isn't optimal.
You generally become an Irish taxpayer if you reside and work and earn in that country for more than 182 days in any year.
If that is so then please be aware of the Irish tax system in regards to investment and in particular in regards to fund investments. Can I suggest that you start by reading the following pages: https://www.bogleheads.org/wiki/Investing_from_Ireland

One small point is that Ireland has relatively high living costs and things like accommodation will be relatively costly in comparison to what you are probably used to. So carefully plan your budget and your targeted savings rate.
DJN
Yah shure

kotrfa
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Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Thu Aug 22, 2019 8:25 am

engineerahead wrote:
Thu Aug 22, 2019 12:12 am
[...]

Even though it's easy to go two big stocks, I've recently encountered an idea where the people that don't mind the hassle of having multiple ETFs go for the All World allocation manually, which is about 6-7 ETFs altogether, but the total TER goes from around 0,20 to 0,12, but at the cost of additional expenses PER trade depending on your broker - my calculations are that in the longer investment horizon and higher value of portfolio this is the cheaper result over years even though you pay extra per exchange.
Interesting - could you please give an example of such 6-7 ETFs? I would be interested. The price per trade at degiro with ~500-2000€ is usually about <3€/trade or something (and some of them for free entirely, such as IWDA), so absolutely negligible compared to swings and TERs in the longterm.

glorat
Posts: 274
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Re: [CZ] ETF investment plan check & questions

Post by glorat » Thu Aug 22, 2019 10:31 am

kotrfa wrote:
Thu Aug 22, 2019 8:25 am
engineerahead wrote:
Thu Aug 22, 2019 12:12 am
[...]

Even though it's easy to go two big stocks, I've recently encountered an idea where the people that don't mind the hassle of having multiple ETFs go for the All World allocation manually, which is about 6-7 ETFs altogether, but the total TER goes from around 0,20 to 0,12, but at the cost of additional expenses PER trade depending on your broker - my calculations are that in the longer investment horizon and higher value of portfolio this is the cheaper result over years even though you pay extra per exchange.
Interesting - could you please give an example of such 6-7 ETFs? I would be interested. The price per trade at degiro with ~500-2000€ is usually about <3€/trade or something (and some of them for free entirely, such as IWDA), so absolutely negligible compared to swings and TERs in the longterm.
I haven't seen anything cheaper than the SWRD+EIMI combo. Sorry, I don't believe the claim of 6-7 ETFs with net TER of 0.12% for non-US people. The only way I can imagine doing this is with US domiciled funds (rather than Ireland domiciled funds) but that will incur the hidden dividend tax cost that will double the TER cost.

selters
Posts: 655
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Re: [CZ] ETF investment plan check & questions

Post by selters » Thu Aug 22, 2019 11:36 am

glorat wrote:
Thu Aug 22, 2019 10:31 am
kotrfa wrote:
Thu Aug 22, 2019 8:25 am
engineerahead wrote:
Thu Aug 22, 2019 12:12 am
[...]

Even though it's easy to go two big stocks, I've recently encountered an idea where the people that don't mind the hassle of having multiple ETFs go for the All World allocation manually, which is about 6-7 ETFs altogether, but the total TER goes from around 0,20 to 0,12, but at the cost of additional expenses PER trade depending on your broker - my calculations are that in the longer investment horizon and higher value of portfolio this is the cheaper result over years even though you pay extra per exchange.
Interesting - could you please give an example of such 6-7 ETFs? I would be interested. The price per trade at degiro with ~500-2000€ is usually about <3€/trade or something (and some of them for free entirely, such as IWDA), so absolutely negligible compared to swings and TERs in the longterm.
I haven't seen anything cheaper than the SWRD+EIMI combo. Sorry, I don't believe the claim of 6-7 ETFs with net TER of 0.12% for non-US people. The only way I can imagine doing this is with US domiciled funds (rather than Ireland domiciled funds) but that will incur the hidden dividend tax cost that will double the TER cost.
20% iShares Core Europe 0.12
5% iShares Core Pacific 0.20
5% iShares Core Japan 0.15
55% iShares Core S&P 500 0.07
15% iShares Core Emerging Markets 0.18

Should be pretty close to 0.12%.

Topic Author
JakubFranek
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Re: [CZ] ETF investment plan check & questions

Post by JakubFranek » Thu Aug 22, 2019 11:52 am

DJN wrote:
Thu Aug 22, 2019 4:48 am
Hi,
JakubFranek wrote:
Fri Mar 22, 2019 2:13 pm
starting July 2019 I'm going to work in Ireland for 1 year for about 2200 EUR/mo after taxes, so I plan to save a lot (and possibly stay but thats a big unknown).
you are on a clear investment path. However if you remain in Ireland and become an Irish taxpayer your plan isn't optimal.
You generally become an Irish taxpayer if you reside and work and earn in that country for more than 182 days in any year.
If that is so then please be aware of the Irish tax system in regards to investment and in particular in regards to fund investments. Can I suggest that you start by reading the following pages: https://www.bogleheads.org/wiki/Investing_from_Ireland

One small point is that Ireland has relatively high living costs and things like accommodation will be relatively costly in comparison to what you are probably used to. So carefully plan your budget and your targeted savings rate.
DJN
Yeah I am aware of the tax issues. I haven't solved them yet, I just keep doing my plan and see how things progress. If I decide to stay here I can either make sure I leave before the deemed disposal affects me, or sell and move to US ETFs which are taxed better and without deemed disposal.

Anyway my living expenses are about 600-700 EUR here, so I think I'll manage to save at least 1300-1500 EUR a month :) How much of that should go into ETFs is another matter. I am thinking at least 400 a month at the start to build up an emergency fund and maybe up it later.

Thanks for your responses guys.

engineerahead
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Re: [CZ] ETF investment plan check & questions

Post by engineerahead » Thu Aug 22, 2019 11:38 pm

kotrfa wrote:
Thu Aug 22, 2019 8:25 am

[...]

Interesting - could you please give an example of such 6-7 ETFs? I would be interested. The price per trade at degiro with ~500-2000€ is usually about <3€/trade or something (and some of them for free entirely, such as IWDA), so absolutely negligible compared to swings and TERs in the longterm.
actually it really isnt negligible once your 2Eur per trade jumps to 12; from then on you have to really calculate what you've invested so far and what the best investment period would be (going for once every 3 months instead of once a month, buying the less percentage ones once every X months instead..) because at the beginning the TER does around 2Eur anyways and only later on is the lower TER worth it way more. The thing is that we are planning for the long term so this *should* be the optimized option if you're willing to tinker with your portfolio.

That said, the idea is pretty simple - you just split the MSCI ALL world index into their smaller parts - not only World+ EMI, but further on:
SP500 (TER 0,07) 57%
EM (0,18) 10,4%
Europe (0,12 + on the ETF free list) 18,4%
Japan (0,15) 7,1%
Pacific ex Japan (0,2) 3,7%
Canada (0,48) 3%

netting you an interesting 0,11-0,12 TER with weight depending on your allocation adjustment.
glorat wrote:
Thu Aug 22, 2019 10:31 am

[...]

I haven't seen anything cheaper than the SWRD+EIMI combo. Sorry, I don't believe the claim of 6-7 ETFs with net TER of 0.12% for non-US people. The only way I can imagine doing this is with US domiciled funds (rather than Ireland domiciled funds) but that will incur the hidden dividend tax cost that will double the TER cost.
I'm sorry then, if you haven't seen anything possibly cheaper than IWDA+EMIM then it surely doesnt exist! :D
All of the singular ETFs could be found accumulating, domiciled in Ireland, traded by Euronext Amsterdam and are available with Degiro..

kotrfa
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Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Sat Oct 19, 2019 3:28 am

Thank you very much for such a detailed wrap-up, I will definitely consider it. On degiro, it translates to:
  • SYMBOL_NAME [TER] [SHARE]
  • iSHR S&P500 B A [0.07] (57)
  • iShares Core MSCI Emerging Markets IMI UCITS ETF [0.18] [10.4]
  • ISHARES MSCI EUR A [0.12] (18.4)
  • ISHARES MSCI JAP A [0.15] (7.1)
  • ISHARES CORE MSCI PACIF EX JPN UCITS ETF [0.2] (3.7)
  • ISHARES MSCI CANADA - UCITS ETF [0.47] (3)
which indeed:

Code: Select all

0.07*0.57+0.18*0.104+0.12*0.184+0.15*0.071+0.2*0.037+0.47*0.03 = 0.11285
, basically half from my current effective TER=0.2205.

Guestimate follows. If you assume return 4% p.a. and you throw additional 20k/p.a. over 30 years, the difference is about 22k (cost of the investment is 45k vs. ~23k). Assuming quarterly buyins of ~4 out of 6 funds to rebalance, that's ~120 trades, some are free, so let's ~100. That's maybe additional 200$, counterfactual is 2 funds instead (so we save like 150$). There is some interest, but I claim it's negligible for the calculation, let's give it e.g. 1000$ less over the years. The time to deal with this. I think it takes me ~10 minutes to rebalance every quarter and adding additional symbol only adds like 2 minutes at maximum or something (there is rather a cost fix with transfering funds, putting it into a formula to get new allocation etc.). Assume 4 mins*~60 trades=4 hours. That's at maximum like 200$ for my time over 30 years. Even the cost of switching and maybe some more things to worry about doesn't account for >20k. I like my bucks, so I should migrate :D . Thanks for saving me money @engineerahead.

engineerahead
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Re: [CZ] ETF investment plan check & questions

Post by engineerahead » Sun Oct 20, 2019 11:12 pm

kotrfa wrote:
Sat Oct 19, 2019 3:28 am
Thank you very much for such a detailed wrap-up, I will definitely consider it. On degiro, it translates to:
  • SYMBOL_NAME [TER] [SHARE]
  • iSHR S&P500 B A [0.07] (57)
  • iShares Core MSCI Emerging Markets IMI UCITS ETF [0.18] [10.4]
  • ISHARES MSCI EUR A [0.12] (18.4)
  • ISHARES MSCI JAP A [0.15] (7.1)
  • ISHARES CORE MSCI PACIF EX JPN UCITS ETF [0.2] (3.7)
  • ISHARES MSCI CANADA - UCITS ETF [0.47] (3)
which indeed:

Code: Select all

0.07*0.57+0.18*0.104+0.12*0.184+0.15*0.071+0.2*0.037+0.47*0.03 = 0.11285
, basically half from my current effective TER=0.2205.

Guestimate follows. If you assume return 4% p.a. and you throw additional 20k/p.a. over 30 years, the difference is about 22k (cost of the investment is 45k vs. ~23k). Assuming quarterly buyins of ~4 out of 6 funds to rebalance, that's ~120 trades, some are free, so let's ~100. That's maybe additional 200$, counterfactual is 2 funds instead (so we save like 150$). There is some interest, but I claim it's negligible for the calculation, let's give it e.g. 1000$ less over the years. The time to deal with this. I think it takes me ~10 minutes to rebalance every quarter and adding additional symbol only adds like 2 minutes at maximum or something (there is rather a cost fix with transfering funds, putting it into a formula to get new allocation etc.). Assume 4 mins*~60 trades=4 hours. That's at maximum like 200$ for my time over 30 years. Even the cost of switching and maybe some more things to worry about doesn't account for >20k. I like my bucks, so I should migrate :D . Thanks for saving me money @engineerahead.
Yeah since most of them aren't on the comission free list, you have to really plan ahead to make it effective + risk missing the best gains (sometimes, the years best gains happen in the span of very few days).
Just to clarify, I suggested this possibility but to be frank, I didn't make the move yet. I considered SWRD SPDR MSCI World UCITS ETF (Acc, Ireland, TER 0,12; not on the comission free list). Now the reason being is that my fund isn't so large the TER would be a big number + I've read many articles from years ago and learned that Blackrock (iShares) has a history of lowering TER significantly, so here's hoping they'll lower the TER of IWDA in the future.
For now I'm IWDA+EMIM still but I may have to cash out in the upcoming few years which would give me a chance to reset anyways.

EDIT: Plus your additional costs aren't only the comissions for Degiro, but also additional trade costs like 2Eur for Euronext Amsterdam (I think) per etf title a year etc.

glorat
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Re: [CZ] ETF investment plan check & questions

Post by glorat » Mon Oct 21, 2019 12:02 am

The SPRD ETF ticker SWRD with the usual combo of EMIM nets you a TER of 0.13%. For the 0.02% "expense", you get a simplified 2-fund implementation for your equity portfolio and one less big thing to worrya bout. If you are worried about saving money, consider the following more important things

Every trade incurs approximately a 0.10% on the spread (less if you play the markets well)
Every trade incurs around 0.10% on broker fees
Every day you are out of the market, you're missing on 0.01% - every day. (Inflation alone eats half a basis point daily)
Tracking errors or missing diversity issues will be costing in the orders of 0.1%
All these will swallow up 0.02% very quickly

I would advise not be "penny wise, pound foolish" on squeezing the expenses.

kotrfa
Posts: 30
Joined: Thu Dec 27, 2018 6:59 am

Re: [CZ] ETF investment plan check & questions

Post by kotrfa » Mon Oct 21, 2019 1:18 am

Thanks, those are good points, I will still consider it though, but now it seems rather unlikely if there is no better opportunity such as having to cash out or something.

Will post here if that ever happens.

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