Time to Buy EWA ETF As ASX 200 Flies To New Record!
πππAustralia's share market ended last week on a strong positive note as the ASX 200 Index hit the magical figure of 8000, the highest on record! $COMMONWEALTH BANK OF AUSTRAL(CBA.AU)$
$iShares MSCI Australia ETF(EWA)$ is my tactical play to capture the huge potential of Australia' s best companies in just 1 trade. It has risen 3% in the past 5 days and is up 5.7% year todate. In 2023 EWA was up 10%.
The Top 10 holdings include Commonwealth Bank, BHP Group, CSL Ltd, National Australia Bank, $WESTPAC BANKING CORPORATION(WBC.AU)$
The Top 10 holdings weightage is 60%. Total number of holdings is 58. The expense ratio is 0.50%. Dividends are paid every 6 months. The current dividend yield is 3.9%.
The phenomenal rise of ASX 200 can be attributed to the strong performance of the Big 4 Banks. The Commonwealth Bank continued its record breaking run, closing at an amazing AUD 131.64 per share. That pushed it into a position of market dominance after a stunning 32.8% share price rise for the year.
BHP was down 0.4% at AUD 43.40 yesterday. This was due to the announcement that it plans to suspend nickel mining operations on Western Australia.
CSL is Australia 's largest biotechnology company with a portfolio of lifesaving medicines. These medicines include those that treat hemophilia and immune deficiencies, vaccines to prevent flu and therapies in iron deficiency and nephrology.
National Australia, Westpac and ANZ Bank are the other Big 3 banks whose share prices have been rising too. Together with Commonwealth Bank, they have the largest banking network in Australia and the largest share of providing banking services in the country.
Wesfarmers is an Australian conglomerate that is well known for its diverse business interest. This includes Bunnings, Australia 's largest chain of DIY stores, Kmart Australia, Target and Officeworks. Wesfarmers also own Priceline chain of stores which offer pharmaceutical services.
Compared to the US, the Australian share market has not risen as quickly. So I believe that the upside potential is much greater than the US.
I like EWA for its low cost entry point of just USD 25.54 per share at its last closing. EWA offers me a diversified approach in addition to holding US, Singapore and Hong Kong shares. I also like its nice juicy dividends which are paid every 6 months while waiting for capital growth. That's a Win Win for me.
@Daily_Discussion @TigerStars @ASX_Stars @Tiger_comments @MillionaireTiger @CaptainTiger
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