Iggy's Journal: The STI Fell 5.24% in October. Three Questions Before You Compare Its 3.39% Yield With a T-bill
Iggy's Journal: The STI Fell 5.24% in October. Three Questions Before You Compare Its 3.39% Yield With a T-bill
Fri 13 Nov 2026 | Evening
The Numbers
ES3's distribution yield moved from 3.27% to 3.39% as at 6 November, while its distributions stayed at S$0.178 over the prior 12 months. On S$10,000, a 3.39% yield is S$339 a year. Rolling a 6-month T-bill at 1.86%, as read on 10 November, gives S$186. The STI fell 5.24% in October.
My Personal Take
When a fund's yield rises after a fall, what changed: the income or the price? That is the question I started with, and it leaves me with two more. How much of the gap between S$339 and S$186 is a real difference in income, and how long can the money stay put before the gap matters? I am not putting a verdict on the ETF or the T-bill in this entry. The free video and the Substack piece walk through the three questions, and the Members Edition goes further.
📺 Free YouTube: https://youtu.be/Tf_jmJxW5Lw
⭐ Members Edition YouTube: https://youtu.be/4rQwaW6zr_c
📩 Substack: https://investingiguana.com/p/ep1919-the-sti-fell-524-in-october
Cheers,
Iggy 🦖
Not financial advice. Iggy's Forensic Compliance Standards apply.
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