Welcome to the Friends with Money podcast, brought to you by Money Magazine, creating financial freedom for Australians since nineteen ninety nine.

Welcome to the Friends with Money podcast, brought to you by Money Magazine, creating financial freedom for Australians since nineteen ninety nine.

Hello and welcome to the Friends with Money podcast, your weekly pod to help you earn, save, and make more money. My name is Michelle Baldassar, the editor in chief here at Money Magazine. Thank you for joining us. Exchange traded funds or ETFs, How to use it, how other people use it, and what's the catch. We're joined today by the Deputy head of Investments and Capital Markets at van K, Jamie Hannah, to tell us all about this and hopefully by the end of this episode you have an idea of how to get started if you are considering buying or investing in ETFs in the new year. Jamie, thank you for joining us.

Hello and welcome to the Friends with Money podcast, your weekly pod to help you earn, save, and make more money. My name is Michelle Baldassar, the editor in chief here at Money Magazine. Thank you for joining us. Exchange traded funds or ETFs, How to use it, how other people use it, and what's the catch. We're joined today by the Deputy head of Investments and Capital Markets at van K, Jamie Hannah, to tell us all about this and hopefully by the end of this episode you have an idea of how to get started if you are considering buying or investing in ETFs in the new year. Jamie, thank you for joining us.

It's great to be here. Thanks having me.

It's great to be here. Thanks having me.

Now.

Now.

First of all, I just want to congratulate Vanek Australia. Your company's just been awarded the goal Old winner of our twenty twenty five Best of the Best Fixed interest traded Funds. So I feel like there's celebrations around there.

First of all, I just want to congratulate Vanek Australia. Your company's just been awarded the goal Old winner of our twenty twenty five Best of the Best Fixed interest traded Funds. So I feel like there's celebrations around there.

Certainly is. When the award came back to the office, there was you know, people clapping. There was a lot of delight. We obviously we're lighter to win awards.

Certainly is. When the award came back to the office, there was you know, people clapping. There was a lot of delight. We obviously we're lighter to win awards.

Yes, and especially for this asset class as well. We have a lot of money readers and listeners. Talk to us about Michelle, can you talk more about fixed income?

Yes, and especially for this asset class as well. We have a lot of money readers and listeners. Talk to us about Michelle, can you talk more about fixed income?

Talk about bonds? And this is a.

Talk about bonds? And this is a.

Really kind of if arguably a cost efficient way of getting into the asset class if you don't know anything about government bonds or how they work.

Really kind of if arguably a cost efficient way of getting into the asset class if you don't know anything about government bonds or how they work.

Right, No, absolutely, and fixed income is one of those areas where individual investors can't buy a bond. It's very difficult. You need to be a high net worth individual, so a mom and dad can't go down the street or go to their broker or financial advisor and actually buy bonds. So yes, you know, having an ETF that has a number of bonds within it is opening up that new asset class to investors.

Right, No, absolutely, and fixed income is one of those areas where individual investors can't buy a bond. It's very difficult. You need to be a high net worth individual, so a mom and dad can't go down the street or go to their broker or financial advisor and actually buy bonds. So yes, you know, having an ETF that has a number of bonds within it is opening up that new asset class to investors.

And to give our listeners a bit of context, tell us a bit more about van K, how much money you manage, and kind of the depth and breath of the funds that you offer.

And to give our listeners a bit of context, tell us a bit more about van K, how much money you manage, and kind of the depth and breath of the funds that you offer.

So at the moment, we have forty three funds listed on the ASX across every major asset class, so we have everything from commodities to share funds, international share funds. We even have bitcoin, but also as mentioned, we have bond funds as well, so we cover a full range of what would call asset classes. And at the moment we're managing about twenty one and a half billion dollars worth of assets within those forty three funds.

So at the moment, we have forty three funds listed on the ASX across every major asset class, so we have everything from commodities to share funds, international share funds. We even have bitcoin, but also as mentioned, we have bond funds as well, so we cover a full range of what would call asset classes. And at the moment we're managing about twenty one and a half billion dollars worth of assets within those forty three funds.

That is insane, that's a lot of money.

That is insane, that's a lot of money.

It is.

It is.

Indeed, it's a lot of zeros on screen.

Indeed, it's a lot of zeros on screen.

And I remember that Vanak being a global company, you opened up shop here in Australia back in twenty thirteen, so you're more than a decade old in Australia.

And I remember that Vanak being a global company, you opened up shop here in Australia back in twenty thirteen, so you're more than a decade old in Australia.

Yes, so we set up in twenty thirteen here, but obviously Vanek in the US have been operating since about the mid nineteen fifties, so there's a lot of history within within the firm. And they had been managing ETFs in the US since about two thousand and six, so the firm has a long history going back as far as ETFs go globally, and we've got well over one hundred billion dollars globally into under management.

Yes, so we set up in twenty thirteen here, but obviously Vanek in the US have been operating since about the mid nineteen fifties, so there's a lot of history within within the firm. And they had been managing ETFs in the US since about two thousand and six, so the firm has a long history going back as far as ETFs go globally, and we've got well over one hundred billion dollars globally into under management.

Jesus will you can't put all of that stuff, all of that under the bed, can you?

Jesus will you can't put all of that stuff, all of that under the bed, can you?

Absolutely?

Absolutely?

Not of money? So let's get straight to it.

Not of money? So let's get straight to it.

First of all, let's talk about popular ETFs, or the ETFs that people are really comfortable investing in.

First of all, let's talk about popular ETFs, or the ETFs that people are really comfortable investing in.

Can you tell us a bit more about that.

Can you tell us a bit more about that.

Yes, one of our flagship funds essentially has our Quality International Fund. It's under the ticker QUOAL and that is very much a global equity fund that invests in a lot of the companies you would generally know. Invest in things like Apple, Microsoft, just to name a few big tech companies. It has things like Visa and MasterCard. It has a lot of companies that really have a big global footprint that most investors around the world would know but might not go in and buy. So that fund has really been a stellar performer over the past ten years since we've launched it, and from our point of view, it really just focuses on quality companies, and quality companies are companies that have low financial debt, higher return on equity, and stable year on year earnings growth. Now what that really means is the company's been around for a while, it's profitable, and it's continued to be profitable over a number of years, and that has really performed well over the past decade in the growth environment which we've been in, and I think it really shows in terms of our performance on those funds.

Yes, one of our flagship funds essentially has our Quality International Fund. It's under the ticker QUOAL and that is very much a global equity fund that invests in a lot of the companies you would generally know. Invest in things like Apple, Microsoft, just to name a few big tech companies. It has things like Visa and MasterCard. It has a lot of companies that really have a big global footprint that most investors around the world would know but might not go in and buy. So that fund has really been a stellar performer over the past ten years since we've launched it, and from our point of view, it really just focuses on quality companies, and quality companies are companies that have low financial debt, higher return on equity, and stable year on year earnings growth. Now what that really means is the company's been around for a while, it's profitable, and it's continued to be profitable over a number of years, and that has really performed well over the past decade in the growth environment which we've been in, and I think it really shows in terms of our performance on those funds.

And that is quite contrary to the popular belief that a lot of OSSI investors will only invest in AUSSI shares ETFs for example. Do you feel like the industry has grown up and now we're really very comfortable around international shares.

And that is quite contrary to the popular belief that a lot of OSSI investors will only invest in AUSSI shares ETFs for example. Do you feel like the industry has grown up and now we're really very comfortable around international shares.

I think that is one of the biggest growing parts within the investment industry in Australia. So yes, Australians have buy and large board Australian shares initially, and then they were certainly buying Australian ETFs which which had Australian underlying shares in it. But Australians as a whole have you know, over the past fifty years been significantly underinvested in international shares, in international bonds for example. So giving them easy access to a fund that has international shares in it has really been a driving force for financial advisors and stockbrokers to help recommend that. So they if you went in seeing a financial advisor now they are more likely to recommend an international equity ETF put it into your portfolio. So some people might already hold BHP or A and Z shares, for example, but they're not holding much in terms of investments outside of Australia. So the quality ETF, for example, is an easy way for investors to gain access to a whole three hundred international shares from around the world in one single trade.

I think that is one of the biggest growing parts within the investment industry in Australia. So yes, Australians have buy and large board Australian shares initially, and then they were certainly buying Australian ETFs which which had Australian underlying shares in it. But Australians as a whole have you know, over the past fifty years been significantly underinvested in international shares, in international bonds for example. So giving them easy access to a fund that has international shares in it has really been a driving force for financial advisors and stockbrokers to help recommend that. So they if you went in seeing a financial advisor now they are more likely to recommend an international equity ETF put it into your portfolio. So some people might already hold BHP or A and Z shares, for example, but they're not holding much in terms of investments outside of Australia. So the quality ETF, for example, is an easy way for investors to gain access to a whole three hundred international shares from around the world in one single trade.

Now this sounds like an obvious question, but for someone who is new to the world of ETFs, what is the cost of entry? So is it five hundred bucks, it five thousand dollars? What would be a way to buy them?

Now this sounds like an obvious question, but for someone who is new to the world of ETFs, what is the cost of entry? So is it five hundred bucks, it five thousand dollars? What would be a way to buy them?

So there is actually no minimum. It really depends on the broker that you use. So to buy an ETF, it's an exchange traded fund and that means it's listed on the ASX. And to actually buy something that's listed on the ASX, you need to have a stockbroker or a financial advisor that can actually do that for you. And with a broker can be an online broker, right, So, so long as you can buy a share, you can buy an ETF. And from that point of view, I guess, really, you know it's you pay the brokerage. So the brokerage is whatever you know your broker charges you, and those fees have come down a lot these days as you're probably aware some people can can do a trade for less than twenty dollars, but when you actually purchase the ETF, there'll be a small spread on screen, so you know it might be trading at nine dollars ninety nine and ten dollars oh one. There's two cents difference between that, so it might cost you that spread to purchase the ETF. Apart from that, there's a management fee that comes through, but you don't pay that directly to the company. So once you bought your position, the performance of the ETF is freely available on all websites, on any form of media that you get access to your share data and you can see exactly how it's performing.

So there is actually no minimum. It really depends on the broker that you use. So to buy an ETF, it's an exchange traded fund and that means it's listed on the ASX. And to actually buy something that's listed on the ASX, you need to have a stockbroker or a financial advisor that can actually do that for you. And with a broker can be an online broker, right, So, so long as you can buy a share, you can buy an ETF. And from that point of view, I guess, really, you know it's you pay the brokerage. So the brokerage is whatever you know your broker charges you, and those fees have come down a lot these days as you're probably aware some people can can do a trade for less than twenty dollars, but when you actually purchase the ETF, there'll be a small spread on screen, so you know it might be trading at nine dollars ninety nine and ten dollars oh one. There's two cents difference between that, so it might cost you that spread to purchase the ETF. Apart from that, there's a management fee that comes through, but you don't pay that directly to the company. So once you bought your position, the performance of the ETF is freely available on all websites, on any form of media that you get access to your share data and you can see exactly how it's performing.

Gone are the days when you have.

Gone are the days when you have.

An exclusive relationship with a broker and you have to call them and you have to specify what you want and you discuss it. This can all be done online and as you've pointed out, there is no minimum fee.

An exclusive relationship with a broker and you have to call them and you have to specify what you want and you discuss it. This can all be done online and as you've pointed out, there is no minimum fee.

No, there isn't. And there's certain platforms available these days, not just brokerage, that actually cater to very small investment sizes, so they actively will take things at like fifty dollars, so you can build up a portfolio from really tiny amounts these days, which you couldn't do in the past.

No, there isn't. And there's certain platforms available these days, not just brokerage, that actually cater to very small investment sizes, so they actively will take things at like fifty dollars, so you can build up a portfolio from really tiny amounts these days, which you couldn't do in the past.

So building a portfolio.

So building a portfolio.

I know that a lot of our readers tell me, Michelle, I have a full time job, I'm busy. I just want something that gives me passive income. So now they want to build a portfolio that provides them with that hassive income. I know that you have clients that represent twenty one point five billion, but without naming specific client portfolios, can you give us an idea on what a typical starter portfolio would look like.

I know that a lot of our readers tell me, Michelle, I have a full time job, I'm busy. I just want something that gives me passive income. So now they want to build a portfolio that provides them with that hassive income. I know that you have clients that represent twenty one point five billion, but without naming specific client portfolios, can you give us an idea on what a typical starter portfolio would look like.

Yes, for any portfolio, no matter what stage you're in viata and retirement phase or you know, just starting out an investment world in your twenties, diversification is key. I mean, you hear about that, and that means you shouldn't put all your eggs into one basket and just buy one ETF. That there is no one best ETF that will fit anyone's needs. So realistically, what you need to do is have a world diverse five portfolio. That means you want something in global shares, you want something in Australian shares, you want something in fixed income, and really it will come down to your you know, your risk profile. Someone who's eighty five years old is going to want a lot less risk in their portfolio than someone who's in their twenties trying to build it up. So from that perspective, generally speaking, the more risky one in the portfolio, the more share ETFs you would have in your portfolio. And if you're really trying to lower the risk, you'd probably have more fixed income, so more bond ETFs in your portfolio. So from that perspective, it's a matter of just building out a diversified portfolio of international shares and everything that fits your personal needs so that you can generate the income. And if we just break it down quickly into each of the different kind of sectors something in the ASX two hundred, generally speaking, if you bought something broad based, pace about three and a half percent, right, if you go into international shares, you're not really getting any The dividend yields around one to two percent. So when you're building this portfolio for income, you really need to factor in how much growth because earning five hundred dollars today is completely different to earning five hundred dollars in ten years time, so you still need to generate some growth in your portfolio, and that's where shares provide income but also growth, whereas bonds very you know, generally speaking, less capital gain in your investment.

Yes, for any portfolio, no matter what stage you're in viata and retirement phase or you know, just starting out an investment world in your twenties, diversification is key. I mean, you hear about that, and that means you shouldn't put all your eggs into one basket and just buy one ETF. That there is no one best ETF that will fit anyone's needs. So realistically, what you need to do is have a world diverse five portfolio. That means you want something in global shares, you want something in Australian shares, you want something in fixed income, and really it will come down to your you know, your risk profile. Someone who's eighty five years old is going to want a lot less risk in their portfolio than someone who's in their twenties trying to build it up. So from that perspective, generally speaking, the more risky one in the portfolio, the more share ETFs you would have in your portfolio. And if you're really trying to lower the risk, you'd probably have more fixed income, so more bond ETFs in your portfolio. So from that perspective, it's a matter of just building out a diversified portfolio of international shares and everything that fits your personal needs so that you can generate the income. And if we just break it down quickly into each of the different kind of sectors something in the ASX two hundred, generally speaking, if you bought something broad based, pace about three and a half percent, right, if you go into international shares, you're not really getting any The dividend yields around one to two percent. So when you're building this portfolio for income, you really need to factor in how much growth because earning five hundred dollars today is completely different to earning five hundred dollars in ten years time, so you still need to generate some growth in your portfolio, and that's where shares provide income but also growth, whereas bonds very you know, generally speaking, less capital gain in your investment.

I think it's important to go back to this idea of diversification. So for example, you can't just buy let's say, healthcare ETFs because if you're a doctor or a nurse, you're comfortable investing in that, but you definitely want to spread it across the different types of asset class. Now, I like that point about the different types of return. I think people don't really understand what that is three percent versus one percent, and of course our favorite word inflation and what that means.

I think it's important to go back to this idea of diversification. So for example, you can't just buy let's say, healthcare ETFs because if you're a doctor or a nurse, you're comfortable investing in that, but you definitely want to spread it across the different types of asset class. Now, I like that point about the different types of return. I think people don't really understand what that is three percent versus one percent, and of course our favorite word inflation and what that means.

As well to your portfolio.

As well to your portfolio.

So okay, let's pretend I have my friend Jen, Jen has five thousand bucks and now she's going to put two k in an international shares ETF, two k in an Australian shares ETF, and one k in a fixed income ETF. Okay, I'm trying to get your reaction right now as an investor for twenty years is like, oh my god, what are those numbers? But even something as simple as that, do you think that provides a starter investor with kind of a foundation to learn how the market works.

So okay, let's pretend I have my friend Jen, Jen has five thousand bucks and now she's going to put two k in an international shares ETF, two k in an Australian shares ETF, and one k in a fixed income ETF. Okay, I'm trying to get your reaction right now as an investor for twenty years is like, oh my god, what are those numbers? But even something as simple as that, do you think that provides a starter investor with kind of a foundation to learn how the market works.

Look, there is no right and wrong portfolio. You hear about professional has been doing for twenty years and they still lose money. So that portfolio being international you know, shares, local shares, and some bonds, that is a good point to start from a diversification point of view. So long as you know they're broad based, you know, like an international equity ETF and a broad based austrain and equity ETF, then they're already going to cover a lot of the market. So within that ETF alone, you're already getting diversification. You're getting diversification across the sectors. You're getting diversification across all the different companies. So if one company, you know, really falls quite sharply it's going it won't necessarily affect your portfolio in a great way. So any form of diversification that you just works perfectly, and for someone starting out, it's probably the best way to really get their foot in the door so they understand exactly what they're buying and how the finance world works.

Look, there is no right and wrong portfolio. You hear about professional has been doing for twenty years and they still lose money. So that portfolio being international you know, shares, local shares, and some bonds, that is a good point to start from a diversification point of view. So long as you know they're broad based, you know, like an international equity ETF and a broad based austrain and equity ETF, then they're already going to cover a lot of the market. So within that ETF alone, you're already getting diversification. You're getting diversification across the sectors. You're getting diversification across all the different companies. So if one company, you know, really falls quite sharply it's going it won't necessarily affect your portfolio in a great way. So any form of diversification that you just works perfectly, and for someone starting out, it's probably the best way to really get their foot in the door so they understand exactly what they're buying and how the finance world works.

But let's be honest, though, with the international shares, there's a huge exposure to the tech sector, and that's a good thing, but that can also be a bad thing. How do you explain the ups and downs of the market.

But let's be honest, though, with the international shares, there's a huge exposure to the tech sector, and that's a good thing, but that can also be a bad thing. How do you explain the ups and downs of the market.

So let's think about this year alone. You know, international ETFs have generally performed very strongly the US this year. You know the S and P five hundred you might have heard of, that's the biggest five hundred companies in the US. It's up nearly thirty percent this year. That is a huge number. That is across five hundred different companies, and across that the average is nearly thirty percent. In Australia they are SEX two hundred's only up ten percent. If you didn't invest in the international ETA, if you would have missed a huge amount of upside in your portfolio. So if you just stayed in Australia, yeah, ten percent is great, but actually there's thirty percent there on the other side. Now, obviously markets can turn as well. We all know about crashes, and so you know there's every chance that you know, the US or any of these can can fall, you know, just as much as they rise in a bad year. But when you're diversified, you're getting you're getting the opposite side. So you know, if the US did happen to fall, thirty percent, then maybe Australia would only fall ten percent. There's no saying would follow them exactly. So the fact is is that no matter how you think about this, different investments offer different returns and different risk profiles. So you know, I personally think that tech's overweight, yes, but if you've been underweight tech over the past ten years, your portfolio wouldn't have performed as well as others.

So let's think about this year alone. You know, international ETFs have generally performed very strongly the US this year. You know the S and P five hundred you might have heard of, that's the biggest five hundred companies in the US. It's up nearly thirty percent this year. That is a huge number. That is across five hundred different companies, and across that the average is nearly thirty percent. In Australia they are SEX two hundred's only up ten percent. If you didn't invest in the international ETA, if you would have missed a huge amount of upside in your portfolio. So if you just stayed in Australia, yeah, ten percent is great, but actually there's thirty percent there on the other side. Now, obviously markets can turn as well. We all know about crashes, and so you know there's every chance that you know, the US or any of these can can fall, you know, just as much as they rise in a bad year. But when you're diversified, you're getting you're getting the opposite side. So you know, if the US did happen to fall, thirty percent, then maybe Australia would only fall ten percent. There's no saying would follow them exactly. So the fact is is that no matter how you think about this, different investments offer different returns and different risk profiles. So you know, I personally think that tech's overweight, yes, but if you've been underweight tech over the past ten years, your portfolio wouldn't have performed as well as others.

That's it, exactly exactly.

That's it, exactly exactly.

So now we've built this starter portfolio if you like, and my friend Jan, the five thousand dollars is now up to let's say six thousand dollars and she wants to take out three hundred. So what are the operature and it is there for Jen to withdraw that gain from her portfolio?

So now we've built this starter portfolio if you like, and my friend Jan, the five thousand dollars is now up to let's say six thousand dollars and she wants to take out three hundred. So what are the operature and it is there for Jen to withdraw that gain from her portfolio?

Yeah, so obviously you know global markets move, you know, stock markets go up and down as we all know. But if Jan is in a profitable position, then she can make a decision, right. She can either leave it where it is and hopefully over time it will compound. So if you receive a dividend, there's an option to reinvest that dividend straight back into that underlying portfolio. So you can either get more of the ETF that you're holding, or more of the share that you might be holding. So it's called dividend reinvestment plan and it will help build up over time. But what you're doing in lieu of that is not taking a cash dividend. So if you know part of your portfolio has gone up, but you're receiving a cash dividend, well, what are you going to do with the cash? You might want to reinvest it into a different ETF to add more diversification. So if she's going to take that three hundred dollars, then one she needs to assess if there's any tax sequence to that, which you'll have to do at the end of the year. And second of all, what she's going to do with the money. Maybe she's going on a holiday, that's fine, but if she's pulling it out to I guess invest in another asset or another thing, then she needs to decide beforehand what she's going to invest in very quickly.

Yeah, so obviously you know global markets move, you know, stock markets go up and down as we all know. But if Jan is in a profitable position, then she can make a decision, right. She can either leave it where it is and hopefully over time it will compound. So if you receive a dividend, there's an option to reinvest that dividend straight back into that underlying portfolio. So you can either get more of the ETF that you're holding, or more of the share that you might be holding. So it's called dividend reinvestment plan and it will help build up over time. But what you're doing in lieu of that is not taking a cash dividend. So if you know part of your portfolio has gone up, but you're receiving a cash dividend, well, what are you going to do with the cash? You might want to reinvest it into a different ETF to add more diversification. So if she's going to take that three hundred dollars, then one she needs to assess if there's any tax sequence to that, which you'll have to do at the end of the year. And second of all, what she's going to do with the money. Maybe she's going on a holiday, that's fine, but if she's pulling it out to I guess invest in another asset or another thing, then she needs to decide beforehand what she's going to invest in very quickly.

Now, there are these admin stuff that you have to do when you have a portfolio of ETFs, one being the tax component of that and how that impacts you and your personal tax rate, and also the accounting and.

Now, there are these admin stuff that you have to do when you have a portfolio of ETFs, one being the tax component of that and how that impacts you and your personal tax rate, and also the accounting and.

The book keeping.

The book keeping.

What's your advice to someone who's absolutely new to this and they just want to know the basics.

What's your advice to someone who's absolutely new to this and they just want to know the basics.

Yeah, so there's only two things that you really need to understand when you buy an ETF, for example, at the end of the year, at the end of the tax year, you'll get a statement direct from the ETF issue are that owns and runs the ETF, and we'll give you all the tax information, which you can either give to an accountant or it breaks down the individual pieces that go into your tax return if you're doing it yourself, so you have to wait for that statement and it outlines, you know, the key details that go in your tax return. The other aspect to it is if you've sold or bought an ETF full shares during the year, then you would have made a profit or a loss. So you need to know what price you originally bought at and what price you sold at, and that will obviously result in a profit or a loss, and that needs to go into your tax return as well. And so you need some basic you know, I guess bookkeeping or some record keeping to be able to maintain that. But it's not onerous so long as you know prices you bought and sold and you wait for your end of your statement. Then doing your tax return should be relatively easy.

Yeah, so there's only two things that you really need to understand when you buy an ETF, for example, at the end of the year, at the end of the tax year, you'll get a statement direct from the ETF issue are that owns and runs the ETF, and we'll give you all the tax information, which you can either give to an accountant or it breaks down the individual pieces that go into your tax return if you're doing it yourself, so you have to wait for that statement and it outlines, you know, the key details that go in your tax return. The other aspect to it is if you've sold or bought an ETF full shares during the year, then you would have made a profit or a loss. So you need to know what price you originally bought at and what price you sold at, and that will obviously result in a profit or a loss, and that needs to go into your tax return as well. And so you need some basic you know, I guess bookkeeping or some record keeping to be able to maintain that. But it's not onerous so long as you know prices you bought and sold and you wait for your end of your statement. Then doing your tax return should be relatively easy.

Well said anything else that our listeners should know about investing in ETFs.

Well said anything else that our listeners should know about investing in ETFs.

Look, I don't think there's anything that you should know. I think you know, as we said, needs to be diversified within your portfolio. You need to assess your risk options of where you are at the moment. And overall, I think you know you need to ensure that you set up with a good and reputable financial broker for execution and don't pay too many fees. I mean, the reason why ETFs have done so well over the past decade is that they're very low low fee products, so you don't want to be paying extra fees on the other side to people who aren't providing you a good service.

Look, I don't think there's anything that you should know. I think you know, as we said, needs to be diversified within your portfolio. You need to assess your risk options of where you are at the moment. And overall, I think you know you need to ensure that you set up with a good and reputable financial broker for execution and don't pay too many fees. I mean, the reason why ETFs have done so well over the past decade is that they're very low low fee products, so you don't want to be paying extra fees on the other side to people who aren't providing you a good service.

Thanks a lot for that, Jamie, Thanks for coming to the studio and once again congratulations on your best of the best win.

Thanks a lot for that, Jamie, Thanks for coming to the studio and once again congratulations on your best of the best win.

Thank you very much.

Thank you very much.

Now before we go, if you enjoyed listening to the Friends with Money podcast or this episode, please share it with your friends and family. Do you have a finance question or you want to ask Jamie and ETF question, send it to me on podcast at moneymag dot com dot au. Until next I'm Michelle Baltazar.

Now before we go, if you enjoyed listening to the Friends with Money podcast or this episode, please share it with your friends and family. Do you have a finance question or you want to ask Jamie and ETF question, send it to me on podcast at moneymag dot com dot au. Until next I'm Michelle Baltazar.

Bye for now.

Bye for now.

Thanks for listening to the Friends with Money podcast. For credible, independent and easy to understand financial commentary, visit moneymag dot com dot au. Please remember that the views and opinions expressed in this podcast are general in nature and further independent advice and research based on your personal circumstances should be sought before making an investment decision

Thanks for listening to the Friends with Money podcast. For credible, independent and easy to understand financial commentary, visit moneymag dot com dot au. Please remember that the views and opinions expressed in this podcast are general in nature and further independent advice and research based on your personal circumstances should be sought before making an investment decision