InvestSMART Performance Update: October 2024
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InvestSMART's diversified ETF portfolios have continued to produce stellar results, returning between 12.2% and 24.7% in the 12 months to 31 October 2024. By keeping our fees low and using broad-based passive ETFs, we have been able to outperform the majority of our competitors over the long term.
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Over five years the diversified portfolios have returned between 2.5% and 8.7% on average. The table below illustrates how InvestSMART's portfolios compare to funds in the same risk category over five years. As you can see, our High Growth portfolio has returned 8.7% a year over five years, outperforming similar options by an average of 2.6% over that period. Of course, past performance is not an indication of future performance.
InvestSMART's single-asset portfolios also performed well, returning between 4.0% (cash securities) and 30.9% (international equities) in the 12 months to 31 October 2024, and between 1.5% and 12.7% over five years.
October wrap up
After a series of monthly gains, the Australian share market went backward in October with the S&P/ASX 200 falling by 1.3%. Utilities and consumer staples were the weakest sectors, dropping by 7.2% and 7% respectively while a gain of 3.3% saw financials end the month as the best-performing sector. Despite not having a great month in October, Aussie shares are still up 20.3% over the year.
The Aussie share market wasn't the only market to end October with a negative result. The US fell by 0.9%, Europe was down 3.3% and China experienced a drop of 5.6%. Japan was the outlier, rising by 1.9% over the month.
The US election result saw many global markets bounce back. US shares ended the week up 4.7% and even Australian shares rose by 2.2% despite the Reserve Bank keeping the cash rate at 4.35%. It will be interesting to see what the rest of November holds.
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