Ama-ETF nama-ETC okutshala imali esiliva: umhlahlandlela ophelele wokukhetha ngokuhlakanipha

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Ezikhathini zamuva i- ISilver iphinde yadonsa ukunaka kwabatshalizimaliUkukhanga kwezinsimbi eziyigugu njengendawo ephephile, kanye nesidingo esikhulu sezimboni ngenxa yokuguquka kwamandla, kubangele isithakazelo kule nsimbi emhlophe kanye nemikhiqizo ebhalwe ohlwini evumela ukutshalwa kwezimali kuyo ngaphandle kokuyigcina esisefweni.

Ngesikhathi esifanayo, Ukuguquguquka kwesiliva kuphakeme kakhulu kunokwegolide.Intengo yayo ithonywa izici zezomnotho kanye nezezwe, kanye nomjikelezo wezimboni. Ngakho-ke, ukuqonda ukuthi ama-ETF esiliva nama-ETC asebenza kanjani, izinhlobo ezahlukene ezitholakalayo, ezimele kakhulu eYurophu, kanye nezingozi ezihlobene nakho kubalulekile ngaphambi kokushesha ukuthenga umkhiqizo wokuqala ovela emiphumeleni yokusesha yomthengisi wakho.

Kungani isiliva seliyimfashini phakathi kwabatshalizimali

Isiliva sihlanganisa Inkemba ekhethekile kakhulu enezinhlangothi ezimbili: indawo yokukhosela esebenzayo kanye nokufakwa kwezimboniNgakolunye uhlangothi, isetshenziswa njengesitolo senani ngezikhathi zokwehla kwamandla emali okuphezulu, ukungaqiniseki kwezezimali, noma ukungezwani kwezepolitiki, okufana negolide. Ngakolunye uhlangothi, iyinto ebalulekile emikhakheni efana ne-elekthronikhi, i-photovoltaics, izimoto zikagesi, amabhethri, imithi, kanye nokuxhumana ngocingo.

Eminyakeni yamuva nje, imibiko yemikhakha eyahlukene igcizelele i- ukungalingani kwesakhiwo phakathi kokunikezwa kanye nesidingo sesilivaI-World Silver Survey ibilokhu ikhomba ukuntuleka okukhulu kwemakethe, kanye nokwehla kwempahla kanye nokukhiqizwa okungahambisani nokusetshenziswa. Ingxenye enkulu yesiliva ikhishwa njengomkhiqizo ophuma kwezinye izinsimbi (ithusi, i-zinc), ngakho-ke ukwandisa ukutholakala kwayo ngokushesha akulula kangako.

Ushintsho lwamandla lubonakala luyimbangela ebalulekile: Imboni yelanga kakade ibiza cishe ingxenye yesihlanu yokusetshenziswa kwesiliva minyaka yonkeFuthi zonke izinkomba zithi leli phesenti lizoqhubeka likhuphuka. Amaphaneli elanga, ama-elekthronikhi kagesi, ingqalasizinda ye-5G, kanye nezikhungo zedatha zidinga inani elikhulu lale nsimbi ngenxa yokuqhuba kwayo kagesi nokushisa okuphezulu kakhulu, okunzima ukukushintsha ngaphandle kokwandisa izindleko zokukhiqiza.

Ngesikhathi esifanayo, isimo samanje sezepolitiki siphinde sishukumisele abatshalizimali abaningi ukuthi babheke "izimpahla zangempela" ezisebenza njengesivikelo ekulweni nokushaqeka kwamandla noma izingxabano ezihlomileUkungezwani phakathi kwe-Israel ne-Iran, ukungezwani eMpumalanga Ephakathi, kanye nemikhawulo engaba khona ezindleleni zokulethwa kwempahla (isb., izidingo ezintsha zelayisensi yokuthumela isiliva lisuka eShayina) kukhuthaza umbono wokuntuleka futhi kuqinise ukukhanga kwesiliva njengempahla ewusizo.

Konke lokhu kuholele esikhathini sakamuva lapho Isiliva lisebenze kahle kakhulu kunegolide ekubuyiselweni kwezinyanga ezingu-12Ngo-2025, kuye kwabonakala ukuhlaziywa okumangalisayo, okungaphezu kuka-140-150% kwamanye ama-ETC esiliva ane-euro hedging, futhi okuphakeme nakakhulu kwezinye izimoto ezixhunywe ezinkampanini zezimayini kulo mkhakha.

Ama-ETF esiliva nama-ETC: ukuthi ayini nokuthi ahluke kanjani

Ukuze bafinyelele emakethe yesiliva ngaphandle kokuqoqa amabha noma izinhlamvu zemali, iningi labatshalizimali lisebenzisa Ama-ETF (izimali ezithengiswa ngokushintshana) noma ama-ETC (izimpahla ezithengiswa ngokushintshana)Empeleni, zombili zithengiswa e-stock exchange njengesabelo, zivumela ukungena nokuphuma kalula, futhi zinikeza amafasitela okushintshashintsha kwezimali nsuku zonke ngezindleko zokusebenza ezilungisiwe uma kuqhathaniswa nensimbi ebonakalayo.

Umehluko omkhulu uvela ohlakeni lokulawula: i Ama-ETF e-UCITS angaphansi kwemithetho yokuhlukahlukaNgakho-ke, eYurophu, izimali ze-UCITS azikwazi ukuqaliswa ngempahla eyodwa eyisisekelo njengempahla eyodwa. Ngenxa yalesi sizathu, ukuchayeka ngqo esiliva elibonakalayo ezimakethe eziningi zaseYurophu kufezwa ngama-ETC, okuyizibambiso zesikweletu ezikhishwa yisikhungo sezezimali futhi ngokuvamile ihlanganiswe nesiliva eligcinwe ezindlini zokugcina impahla.

Ngokuphambene nalokho, amanye amazwe afana neSwitzerland ayawavumela ama-ETF ukuthi athenge impahla eyodwa, ngakho-ke kukhona ama-ETF esiliva angokwenyama ngesitayela "sakudala". Nokho, ngokombono womtshali-zimali waseYurophu othengisayo, ulwazi olusebenzayo nge-Swiss ETF kanye ne-ETC esekelwa yinsimbi luvame ukufana kakhulu: ziphinda intengo. Bheka yesiliva ngemva kokususa izindleko zokuphatha, zokugcina kanye nezomshuwalense.

Ngaphandle kwemikhiqizo elandela ngqo isikhangiso, kukhona futhi Ama-ETF e-Equity agxile ezinkampanini zezimayini zesilivaEsikhundleni sokutshala imali ku-gold bullion, lezi zimoto zithenga amasheya ezinkampani ezibandakanyeka ekuhloleni, ekukhipheni, ekucwengisiseni, noma ekucubunguleni insimbi. Zivame ukuba nezimo eziguquguqukayo futhi, lapho umjikelezo wezomnotho uvuma, zinganikeza uhlobo "lwesivikelo sokusebenza" ngokumelene nokuhamba kwezinto zokusetshenziswa.

Ekugcineni, yonke imikhiqizo ebhalwe ohlwini iqediwe nge Ama-ETF asetshenzisiwe kanye namathuluzi esiliva esikhathi esizayoLe mikhiqizo iklanyelwe ukukhiqiza iziphindaphindi zansuku zonke (isb., +2x) uma kuqhathaniswa noshintsho ku-sub-index noma inkontileka yensimbi. Iyinkimbinkimbi kakhulu futhi ihloselwe abahwebi abanolwazi abahlanganyela ekuhwebeni kweqhinga lesikhathi esifushane, hhayi ukubamba iphothifoliyo yesikhathi eside.

Ama-ETC esiliva abalulekile atholakala kubatshalizimali baseYurophu

Ngaphakathi kwemakethe yaseYurophu, kunezinhlobo eziningana Ama-ETC asekelwa yisiliva esingokoqobo esibe yisilinganiso Kulabo abafuna ukuchayeka ngqo ensimbini. Babelana ngesakhiwo esifanayo, yize behluka ngezindleko, abagcini, imali eyisisekelo, kanye nemininingwane yokusebenza.

El iShares Physical Silver ETC (ISIN IE00B4NCWG09) iphinda intengo yesiliva, ilandela izilinganiso ezifana neLondon Silver Fix kanye ne-LBMA Silver Price. Itholakala ngamadola ase-US, ngaphandle kokuvikela okuhlelekile ngokumelene ne-euro, futhi isiliva elingokoqobo ligcinwe ezindlini zokugcina impahla ze-JPMorgan. Iyimoto enkulu, ewuketshezi kakhulu enesilinganiso sezindleko eziphelele (TER) esincintisanayo esingaba ngu-0,20%, futhi iyisikhwama sokuqongelela (ayisabalalisi amakhuphoni). Isebenza njenge izinga lokulinganisa elishibhile kulabo abafuna "isiliva elihlanzekile" kuphothifoliyo.

Okufana kakhulu kunikezwa yi- Isiliva Esingokoqobo se-Invesco (IE00B43VDT70). Lokhu futhi kuyi-ETC ehlanganisiwe ye-bullion elandelela intengo yesiliva eqondile ku-LBMA, egcinwe eJP Morgan (eLondon) kanye nemali eyisisekelo ye-USD. I-TER yayo iseduze. 0,19% ngonyaka, okungaphansi kancane kwabanye abancintisana naboFuthi iyi-accumulator. Yasungulwa ngo-2011, ikhule kakhulu ngobukhulu kanye nokuguquguquka kwemali, yanciphisa ukusabalala kokucelwa kwebhidi futhi yenza kube lula ukuhweba.

Omunye umdlali ofanele ngu I-WisdomTree Isiliva Esingokwenyama (JE00B1VS3333), i-ETC yesiliva esingokoqobo ephinde ilandelele i-LBMA Silver Price ngamadola, ne-HSBC njengebhange eliqaphayo. Inikeza ukufinyelela okuqondile ensimbini enesakhiwo esifana nesangaphambilini, kodwa nge izindleko eziphakeme kancane uma kuqhathaniswa nemikhiqizo eshibhile yesigaba. Iyithuluzi elidala neliqashelwayo, yize konke okunye kufana, abatshalizimali abaningi bakhetha i-TER ephansi yabaphikisi bayo.

Ngendlela efanayo, I-Xtrackers IE Physical Silver ETC Securities (DE000A2T0VS9) iphinda intengo yesiliva ebekwe eceleni isebenzisa i-bullion eyabelwe egcinwe kuma-akhawunti ahlukanisiwe. Imali eyisisekelo yidola, umgcini wayo futhi uJP Morgan eLondon, futhi izindleko zayo zizonke zicishe zibe yi-1.5%. 0,20% ngonyakaKuyindlela elula neqondile yokuthola ukuchayeka ensimbini ngaphandle kokutshala imali esikhathini esizayo noma ukukhathazeka ngakho ukugoqa, ngokungavamile ukuthi ingahweba ezimakethe ezahlukene (LSE, Xetra, njll.) ngaphansi kwamakhodi ahlukene.

Kuzo zonke lezi zimo kunezinkinga ezimbili ezibalulekile okufanele ziqashwe: ngakolunye uhlangothi, ingozi yemali yomtshali-zimali kuma-euroNjengoba izimpahla eziyisisekelo zithengiswa ngama-USD, futhi uma kucatshangelwa uhlobo olusemthethweni lwe-ETC njengezibambiso zezikweletu ezihlanganisiwe, ezihlukile esikhwameni sendabuko se-UCITS, kuyalulekwa ukuthi kubuyekezwe amadokhumenti (i-KID, i-prospectus), umkhiphi, umgcini, kanye nezimo zesibambiso ngaphambi kokuthatha izikhundla ezibalulekile.

Ama-ETC esiliva anothango lwemali kanye nezixazululo ze-euro

Kubatshalizimali abakhetha ukunciphisa ukuchayeka kwabo ekunyakazeni kwedola, imakethe inikeza Isiliva le-ETC elinamaklasi ambozwe yi-EURLe mikhiqizo isebenzisa amasu okuvikela imali nsuku zonke ukuze inciphise, ngangokunokwenzeka, umthelela wokushintshashintsha kwe-USD/EUR ekubuyiselweni kokugcina ngama-euro.

Omunye wemikhiqizo okukhulunywa kakhulu ngayo kulokhu Isiliva se-WisdomTree – I-EUR Daily HedgedKuyi-ETC elandela izinkontileka zesiliva zesikhathi esizayo, kodwa ngokumbozwa kwansuku zonke kwengozi yemali ngokumelene ne-euro. the inzuzo iphindaphindwa ngokwenziwa ngokusebenzisa ukushintshana, hhayi nge-bullion ebonakalayo. Naphezu kwesakhiwo sayo esiyinkimbinkimbi kakhulu, isibe ngumholi enzuzweni yezinyanga eziyi-12 phakathi kwemikhiqizo yesiliva, ngezibalo eziseduze no-152% ngo-2025 kanye nembuyiselo yonyaka yeminyaka emihlanu engaphezu kuka-18%.

I-Xtrackers inikeza nezinhlobo ezihlanganisiwe: I-Xtrackers Isiliva Esibonakalayo EUR Hedged ETC futhi i I-Xtrackers IE Physical Silver EUR Hedged ETC Securities Babonise ukwehla okukhulu kakhulu, kusukela ku-144-154% ezinyangeni eziyi-12 ezedlule. Kule mikhiqizo, Ukuvikela imali kunciphisa umthelela wedola elibuthakathaka noma elinamandlangakho-ke umtshali-zimali ubhekene kakhulu nokunyakaza "okumsulwa" kwesiliva kuma-euro.

Kodwa-ke, ukuvikela imali akuyona into yamahhala futhi ayiphelele. Kuhilela cabanga ngezindleko ezengeziwe kanye nengozi ethile yokungalinganiLokhu kuyiqiniso ikakhulukazi uma kunesikhathi eside noma uma kukhona ukunyakaza okukhulu kwesilinganiso senzalo phakathi kwezimali ezimbili. Ngakho-ke, kufanelekile ukuhlola ukuthi ukuthula kwengqondo kokuvinjelwa yidola kudlula yini lezi zindleko, uma ucabangela ukutshalwa kwezimali komuntu kanye nombono wezomnotho omkhulu.

Ngokusho kwedatha eqoqwe kumapulatifomu akhethekile, umhlaba wonke we-ETC/ETF yesiliva uhlanganisa kokubili Imikhiqizo ehlukaniswe nge-USD njengezinhlobo ezivikelwe yimalingama-TER asukela ku-0,19% kuya ku-0,75% ngonyaka. Izimoto ezilula nezisebenzayo zivame ukutholakala ekugcineni okuphansi kobubanzi, kuyilapho izinhlobo ezinezingobo zokwenziwa noma izakhiwo zivame ukubiza kakhulu.

Ama-ETF esiliva okumba: ingozi eyengeziwe, amathuba amaningi

Ngaphandle kwemali ebonakalayo, kukhona inketho yokutshala imali Ama-ETF e-Equity ahlanganisa izinkampani ezixhumene nomkhakha wesilivaLezi zimali zisivumela ukuthi sibambe "i-beta eyengeziwe" engaba khona enikelwa yizinkampani zezimayini lapho intengo yensimbi ikhuphuka kakhulu.

Isibonelo esimele eYurophu yilesi I-Global X Silver Miners UCITS ETF USD Iqoqana (IE000UL6CLP7). Lena yi-ETF ye-UCITS ephinda ngokugcwele inkomba ye-Solactive Global Silver Miners TR v2, eyakhiwe cishe izimayini zesiliva ezingamashumi amathathu nanhlanu isatshalaliswa emhlabeni jikelele. Lesi sikhwama siyisikhwama sokuqongelela, okusho ukuthi siphinde sitshale imali eyinzuzo ekhokhwe yizinkampani esitshala kuzo imali.

Phakathi kwezikhundla zabo ezibalulekile kukhona amagama anjengokuthi Isiliva LaseMelika LasePan, Izinsimbi Eziyigugu ZaseWheaton, I-Coeur, Izimboni, Ama-Peñoles noma i-Korea Zincokubalwa ngaphezu kwengxenye yesisindo senkomba. Lokhu kusho ukugxila okuphezulu kwesihloko kanye nokugxila okuthile ezingeni lenkampani, into okufanele icatshangelwe lapho kuhlaziywa ubungozi bephothifoliyo.

Ukukhanga kwalolu hlobo lwe-ETF kulele eqinisweni lokuthi Imikhiqizo yezimayini ivame ukuhamba kakhulu kunensimbi uqobo.Uma isiliva likhuphuka, imakethe ivame ukulindela izinzuzo eziphezulu, ukugeleza kwemali okuthuthukisiwe, kanye nenani eligciniwe elikhuphukile, ngakho-ke amanani esitoko alezi zinkampani avame ukuphindaphinda imali engenayo yazo. Kodwa-ke, uhlangothi oluphambene ukuthi ngesikhathi sokulungiswa okubukhali kwentengo yensimbi noma izikhathi zobunzima bokusebenza, ukwehla kwentengo kuvame ukuba kubi kakhulu.

Ngokwesakhiwo, lezi zimali zicabanga ukuthi Izingozi ezengeziwe: ukuqaliswa, imithetho, ezepolitiki kanye nezingozi zezindleko enkampanini ngayinye; ingozi yemali ngenxa yokuhweba ngezimali eziningi (i-USD, i-EUR, i-GBP, i-CHF); kanye ne-TER ephezulu, evame ukuba ngu-0,65% ngonyaka, ephakeme kuneye-ETCs yesiliva ebonakalayo. Ngenxa yalesi sizathu, abatshalizimali abaningi bayisebenzisa njengokutshalwa kwezimali okusebenzayo noma okusathelayithi ngaphakathi kwephothifoliyo ehlukahlukene, kunokuba kube yisisekelo sokuchayeka kwabo ensimbini.

Ama-ETF nama-ETC asekelwe ngesiliva: Imikhiqizo Yabahwebi

Ngaphakathi kwendawo yonke yemikhiqizo esekelwe esiliva sithola futhi Ama-ETF asetshenzisiwe afuna ukuphindaphinda kabili (noma ngaphezulu) ukunyakaza kwansuku zonke kwentengo yensimbiLezi yizinto eziklanyelwe amasu esikhashana, hhayi ukuthi zigcinwe iminyaka eminingi.

Isibonelo I-ProShares Ultra SilverLe ETF ephethwe yi-US ihlose ukuphinda kabili imbuyiselo yansuku zonke ye-SM Bloomberg Silver sub-index. Ifeza lokhu ngokutshala imali enhlanganisweni yezimali zesikhathi esizayo, ama-swaps, kanye nezinye izinsimbi zezimali ezixhunywe nesiliva. Inezinkulungwane zezigidi zamaRandi ezimpahleni eziphethwe kanye nemali yonyaka ecishe ibe [iphesenti elingekho]. 0,95%, ngokusobala kuphakeme kakhulu kune-ETCs yemvelo yendabuko.

Isihluthulelo lapha siku- indlela yokulungisa amandla okusebenzisa amandla nsuku zonkeInhloso ye-+2x ibhekisela ekushintsheni kwansuku zonke, hhayi isikhathi eside. Ngokuhamba kwesikhathi eside, imiphumela yokulinganisela kabusha, ukuguquguquka, kanye nokubola kokuguquguquka kungabangela ukubuyiselwa okuhlanganisiwe ukuthi kuphambuke kakhulu kulesi siphindaphindi esilula sethiyori. Ngakho-ke, le mikhiqizo ibhekwa njengefanele ukuhweba ngamaqhinga kanye namaphrofayili anolaka kakhulu.

Kumtshali-zimali wesikhathi eside ofuna nje ukuqhubeka ebona isiliva, Lolu hlobo lwe-ETF luvame ukungafaneleki.Ingozi yokulahlekelwa okukhulu ngezikhathi zokuguquguquka okukhulu, kanye nezindleko eziphakeme kanye nobunzima bokusebenza kwayo, kwenza kube ngcono kuphela kulabo abaqonda ngokugcwele indlela yokusebenzisa amandla okusebenzisa amandla futhi bamukele umthelela wayo omubi ongaba khona.

Ukusebenza kwakamuva kwe-ETC ezinkulu zesiliva kanye nama-ETF

Ukuziphatha kwamuva kwemikhiqizo ehlukahlukene yesiliva kugqamisa Le makethe ingaba yingozi kangakanani uma iqhathaniswa nezinye izinto ezinhle… futhi ibe yingozi uma iqhathaniswa nezinye izinto ezimbi?Ezikhathini ezithile, ama-ETC aphinda intengo eqondile abhalise imbuyiselo edlula i-100% ezinyangeni eziyi-12, kanti izinguqulo ezivikelwe yi-euro ziye zadlulela phambili nakakhulu.

Ngokusho kokuqhathaniswa okusekelwe kudatha ye-justETF (kuma-euro futhi kufaka phakathi ama-dividend lapho kufanele khona), iShares Physical Silver, i-Invesco Physical Silver kanye ne-Xtrackers IE Physical Silver ETCs Bathumele imbuyiselo efanayo kakhulu eminyakeni yamuva nje, ngomehluko omncane obangelwa ukulandelela, amakhomishini kanye nesikhathi sokuqaliswa komkhiqizo ngamunye.

Ngokuvamile, ama-CTE ane-TER ephansi kanye nosayizi omkhulu avame ukukhombisa ukusabalala okungcono kokubuza ibhidi kanye nomehluko ophansi wokulandelelaLokhu kuholela ekwehlukeni okukhulu enzuzweni eqongelelekayo esikhathini eside. Ngakho-ke, uma imbuyiselo yezimoto eziningi zokutshalwa kwezimali ifana kakhulu, kunengqondo ukubeka phambili izindleko eziphelele (ikhomishini, ama-spread, izimali zomthengisi, ukushintshaniswa kwemali, njll.).

Ngokufana, i- Ama-ETF ezimayini zesiliva kanye nama-ETC avikelwe yi-EUR Bazibeke phezulu ezilinganisweni zenzuzo zika-2025, kwezinye izimo bedlula imikhiqizo eminingi yegolide neyezimayini zegolide. Isibonelo, i-Global X Silver Miners UCITS ETF ibonise imbuyiselo ecishe ibe ngu-140% ezinyangeni eziyi-12 ngesikhathi sesigaba esihle kakhulu somjikelezo.

Kubalulekile ukungakhohlwa, noma kunjalo, ukuthi Ukusebenza kwangaphambilini akuqinisekisi imiphumela yesikhathi esizayoImakethe efanayo eletha iminyaka emangalisayo ingaphinde yehle ngo-20% noma ngaphezulu ngesikhathi esisodwa lapho kuvela izindaba zezomnotho omkhulu, izimemezelo zesilinganiso senzalo, noma ukungezwani okungalindelekile kwezepolitiki. Ingozi yokulungiswa okubukhali iyingxenye eyisisekelo ye-DNA yesiliva.

Izinzuzo nezingozi zokutshala imali esiliva ngama-ETF nama-ETC

Inzuzo enkulu yama-ETF nama-ETC ukuthi Zivumela ukuchayeka esiliva ngaphandle kokubhekana nokuphathwa kwensimbi ebonakalayo.Asikho isidingo sokukhathazeka ngezokuthutha, indawo yokugcina impahla, umshwalense, noma ukuqinisekisa ubuqiniso bezinto ezithengiswayo noma izinhlamvu zemali. Konke kuphathwa ngumthengisi, ngokuthengiselana okulula nokusheshayo ezimakethe ezilawulwayo.

Uma kuqhathaniswa nobunikazi obungokoqobo, imikhiqizo ebhalwe ohlwini nayo inikeza ngokuvamile izindleko zokungena nokuphuma eziphansiUkusabalala okuqinile kanye nekhono lokusebenzisa amasu okuphatha asebenzayo (ukulinganisa kabusha, ukuvikela ingxenye, ukuthengisa ingxenye) cishe ngokushesha. Uma kusetshenziswa amanani aphezulu, umehluko uma uqhathaniswa nokuthenga izinhlamvu zemali noma amabha uvame ukuba mkhulu.

Uketshezi nakho kuhlangothini lwabo: ama-ETC amaningi esiliva ayashintsha inani elikhulu lansuku zonke, elinemingcele emincaneikakhulukazi lawo abhalwe ezimakethe ezifana neLondon noma iXetra. Lokhu kwenza ukuphathwa kwezikhundla kube lula, ngisho nakubatshalizimali bezikhungo noma labo abahweba njalo.

Nokho, akuzona zonke izinzuzo. Isiliva liyimpahla ebalulekile. kuyashintshashintsha kakhulu futhi kuyazwela kakhulu emjikelezweni wezomnothoIntengo yayo ingathinteka yizinguquko ezidingweni zezimboni, ukubuyekezwa kokulindelekile kwesilinganiso senzalo, ukunyakaza kwamadola, izinqumo mayelana nezimali ezigciniwe eziqondiwe, noma izindaba ezihlobene nokunikezwa (ukuvalwa kwezimayini, imithetho emisha yokuthumela kwamanye amazwe, njll.).

Ngaphezu kwalokho, uma kwenzeka kuma-ETC, uhlobo lwesikweletu esihlanganisiweNgisho noma zisekelwa yizingodo zegolide ezigcinwe emabhange aphezulu, kunengozi yomqondo ehlobene nomhlinzeki kanye nesakhiwo somthetho somkhiqizo. Ngakho-ke, kuyalulekwa ukuthi ubukeze ngokucophelela imibhalo esemthethweni futhi uqonde ukuthi kuzokwenzekani ezimweni ezimbi kakhulu.

Ukutshala imali esilivani elingokoqobo uma kuqhathaniswa nokutshala imali ku-inthanethi

Ngokwesiko, labo ababefuna ukuvikela ingxenye yempahla yabo ngesiliva babeya ku- izinhlamvu zemali, ama-ingot kanye nezingcezu ezibonakalayoLe ndlela isekhona, kodwa kulezi zinsuku ukutshalwa kwezimali ku-inthanethi ngama-ETF, ama-ETC noma amasheya okumba sekuyinsakavukela ngenxa yokulula nokusebenza kahle kwayo.

Ukuthenga isiliva elingokoqobo kuhilela izindleko zokukhiqiza, ezokuthutha, zomshwalense kanye nezokugcinaNgaphezu kwesilinganiso esikhulu sokuthenga nokuthengisa kunemikhiqizo ebhalwe ohlwini, kunengozi yokwebiwa, isidingo sokugcina impahla ngokuphephile, kanye nethuba lokuhlangana nezimpahla mbumbulu emakethe yesibili.

Uma kufika isikhathi sokuthengisa, umtshali-zimali kumele thola umhwebi ozimisele ukuthenga insimbiUkuxoxisana ngamanani nokucabangela izindleko zezokuthutha futhi kuyinselele. Uma kukhulunywa ngamanani amakhulu, isisindo kanye nenani eliphelele kuba yisiphazamiso esengeziwe. Akuyona into engaqondakali ukuthi abantu abaningi abalondoloza imali bakhetha izixazululo zedijithali.

Ngakolunye uhlangothi, ukutshalwa kwezimali ku-inthanethi kuvumela Vula futhi uvale izikhundla ngokuchofoza okukodwa.uma nje imakethe ivulekile. Izindleko zokusebenza zivame ukuba ziphansi kakhulu, ikakhulukazi uma usebenzisa umthengisi oncintisanayo futhi ukhetha imikhiqizo ewuketshezi enezinhlayiya ezinhle. Ngaphezu kwalokho, isiliva kulula ukulihlanganisa nephothifoliyo ehlukahlukene kanye namasheya, imali engenayo engaguquki, noma ezinye izimpahla.

Lokhu kulula kokufinyelela akufanele kuholele ekubukeni phansi ingozi: i-akhawunti yezokuphepha yodwa ayivikeli ekuguquguqukeni kwensimbi. Kodwa ikwenza kube nokwenzeka phatha ukuchayeka, ulinganise kabusha iphothifoliyo, noma ulungise isisindo sesiliva Kulula kakhulu kunokusebenzisa izinti zegolide ebhokisini eliphephile.

Isiliva, ukukhuphuka kwamanani entengo, amazinga enzalo kanye nomongo wezepolitiki

Indima yesiliva esikhwameni semali ayinakuqondwa ngaphandle kokuthi imvelo yezomnotho kanye neyezweIzici ezifana nokwehla kwamandla emali, amazinga enzalo yangempela, amandla noma ubuthakathaka bedola, kanye nokungezwani kwamazwe ngamazwe kuthonya ngqo intengo yalo.

Uma amabhange aphakathi egcina amazinga enzalo aphezulu kanye nenzuzo yangempela emalini engenayo engaguquki iyakhanga, Izindleko zamathuba okugcina izinsimbi eziyigugu ziyandaLokhu kuvame ukucindezela igolide nesiliva. Ngakolunye uhlangothi, amathuba okunciphisa inzalo noma ukwehla kwamandla emali okuqhubekayo kungakhulisa inzalo kulezi zimpahla, njengoba zibhekwa njengezithiyo zokulahlekelwa amandla okuthenga.

Ubudlelwano phakathi kwesiliva ne- izinzuzo zezibopho ze-US Treasury Lesi yisici esibhekwa kakhulu ngabathengisi. Ukwehla kwesivuno kuvame ukuchazwa njengokuphazamiseka kwezinsimbi, kuyilapho ukwanda okukhulu kungaba yisithiyo. Ukuqaphela lokhu kuhlangana kusiza abatshalizimali abaningi ukuba bahlole ukuthi kufanele bangene noma baphume nini emakethe.

Ezingeni lezepolitiki, izingxabano ezifundeni ezibalulekile, izijeziso, imikhawulo yokuthunyelwa kwezinto ezingavuthiwe, noma izinguquko ezinqubweni zezimboni zingenza ukucindezela ukunikezwa noma ukuhanjiswa kwesilivaIsinqumo seShayina sokuthumela isiliva kwamanye amazwe ngaphansi kohlelo lwelayisensi olunemikhawulo eyengeziwe sikhulise ukwesaba kwezithiyo, ikakhulukazi uma sibheka isisindo sayo ekuhlaziyweni komhlaba wonke.

Ngakolunye uhlangothi, isiliva sithola umngane ekwandeni kokusetshenziswa kwezimali kwezempi kanye nokuthuthukiswa kwamabutho: Ukusetshenziswa kwayo kufaka phakathi ama-elekthronikhi okuzivikela, ama-radar, ama-missile, kanye nokuxhumana. Banezela olunye ungqimba lwesidingo sezimboni. Uma lesi sici sihambisana nokwanda kwentshisekelo yabatshalizimali ngezizathu zokuphepha, umphumela ungaba isiphepho esiphelele se-bullish.

Indlela yokukhetha i-ETF yesiliva noma i-ETC efaneleka kakhulu

Uma ukhetha umkhiqizo othize, into yokuqala okufanele uyenze ukuchaza inhloso yokutshalwa kwezimali kanye nesikhathi esinqunyiweUma ufuna ithuba eliphakathi nendawo, elilula nelihlala isikhathi eside lokuthola intengo yesiliva, inketho evame kakhulu ukukhetha ama-ETC aphathekayo ashibhile njengalawo avela ku-iShares, i-Invesco, i-WisdomTree noma i-Xtrackers, ucabange ukuthi ukuvikela imali kuma-euro kuyathakazelisa noma cha.

Uma kulandelwa iphrofayili yokukhula okuphezulu kanye nokuguquguquka okuphezulu kuyamukelwaAma-ETF okumba isiliva angaba nengqondo njengengxenye yesathelayithi yephothifoliyo. Kodwa-ke, ngamasu amaqhinga aphezulu, esikhathi esifushane, abanye abahwebi baphendukela kuma-ETF asebenzisekayo noma imikhiqizo esekelwe esikhathini esizayo, uma nje beqonda ngokugcwele ukuthi asebenza kanjani kanye nezingozi zawo ezihlobene nawo.

Umbandela wesibili omkhulu yi- inani lezindlekoAkwanele ukubheka nje i-TER: umehluko wokulandelela, ukusabalala kwe-bid-ask, amakhomishini omthengisi, kanye nezindleko zokushintshanisa imali uma ukuhweba nge-USD noma i-GBP kusuka ku-akhawunti ye-euro nakho kubalulekile. Ngokuchayeka ngokulinganayo, ukwehliswa kwentengo ngephuzu elilodwa ngonyaka kwenza umehluko omkhulu esikhathini eside.

La uketshezi kanye nosayizi wesikhwama Lezi zici nazo zidlala indima. Izimoto ezinkulu ezinempahla ebalulekile kanye nomthamo omkhulu wokuhweba nsuku zonke zivame ukuba nokusabalala okuncane kanye nengozi ephansi yokuvalwa noma ukuhlanganiswa kwezinkampani. Lokhu kuyinto ebalulekile okufanele uyicabangele uma ufuna ukukwazi ukungena noma ukuphuma ngaphandle kokumangala ngezikhathi zokuxineka kwemakethe.

Okokugcina, kumele sicabangele intela, imali yekhotheshini kanye nezinga lokuphindaphinda (ebonakalayo noma eyenziwe ngokwenziwa). Abanye abatshalizimali babeka phambili amakilasi okuqongelela ngokumelene nokusatshalaliswa Ngenxa yezizathu zentela, abanye bakhetha imikhiqizo ngama-euro ukuze kube lula ukubalwa kwezimali. Ukubukeza le mininingwane ngokucophelela ngaphambi kokwenza isinqumo kusiza ukugwema ukumangala kamuva.

Ingabe kunengqondo ukufaka ama-ETF/ama-ETC esiliva kuphothifoliyo njengamanje?

Njengoba kunomhlangano omkhulu wakamuva, umbuzo omkhulu uwukuthi ngabe Kusenengqondo ukwabela ingxenye yephothifoliyo yesiliva. Noma ukuthi isitimela sesivele siphumile esiteshini. Impendulo incike kuphrofayili yengozi, umkhathi wokutshalwa kwezimali, kanye nombono wokuguquka kwamandla, ukukhuphuka kwamanani, kanye nezepolitiki zezwe.

Noma ubani ohlanganyela i-thesis ye ukungalingani kwesakhiwo phakathi kokunikezwa kanye nesidingoNgisho noma ulindele umjikelezo wokutshalwa kwezimali oqhubekayo ezintweni ezivuselelekayo kanye nokufakwa kukagesi, futhi wesaba ukuthi izigameko zokungezwani kwamazwe ngamazwe zizoqhubeka nokuvela, cishe uzoqhubeka nokubona isiliva njengempahla ethakazelisayo esikhathini esimaphakathi neside.

Kodwa-ke, akuyona impahla yawo wonke umuntu, futhi akufanele ibekwe enhliziyweni yephothifoliyo. Ngokuvamile kunengqondo kakhulu ukuyibheka njenge... isikhundla esihambisanayo nesihlukahlukenengesisindo esimaphakathi, futhi ezimweni eziningi, ukwakha isikhundla kancane kancane ukuze kube lula ukungena emakethe enjalo ekhathazekile.

Kulesi simo, abadayisi baseYurophu abalawulayo abanikeza ukufinyelela okubanzi kuma-ETF aphesheya kanye nama-ETC (kufaka phakathi imikhiqizo eminingi ye-UCITS, izimpahla, ama-indices, amasu okuthola inzuzo noma ucingo oluhlanganisiwe) vumela umtshali-zimali ojwayelekile ukuthi athole kalula imoto efanela izidingo zakhe kanye nokubekezelela ubungozi.

Ukwanda kwentengo yesiliva ezinyangeni zamuva nje, imbuyiselo emangalisayo yezinye izinkampani ze-ETC, kanye nokubaluleka okukhulayo kwensimbi ezimbonini ezibalulekile kusikisela ukuthi Izoqhubeka nokuba yimpahla eqashelwa eduze ngabatshalizimali kanye nabathengisi.Kodwa ngenxa yokuthi iyathandeka, kufanele ixoxwe ngokuqapha, iqonde ngokugcwele ithuluzi elisetshenzisiwe, izindleko zalo, izingozi zalo, kanye nendima elizoyidlala ngaphakathi kwephothifoliyo iyonke.

Uma kucatshangelwa inhlanganisela yendawo ephephile, isidingo sezimboni, isimo sezepolitiki kanye nokutholakala okulinganiselwe, ama-ETF esiliva kanye nama-ETC azibonakalise njengenye yezindlela ezisebenzayo zokufinyelela le makethe, uma nje umtshali-zimali ecabanga ukuthi bangena empahleni enamandla, enamandla amakhulu okukhula, kodwa futhi ekwazi ukudala ukuguquguquka okukhulu okudinga isineke, ukwahlulela kanye nokuphathwa okuhle kwezingozi.

Lo mbhalo ungowolwazi kuphela futhi awuyona isincomo sokutshalwa kwezimali esiqondene nomuntu siqu noma iseluleko sezezimali esiqondene nomuntu ngamunye; zonke izinqumo zokutshalwa kwezimali zinomngcipheko wokulahlekelwa yimali futhi kufanele zenziwe kucatshangelwa isimo somuntu siqu somtshali-zimali ngamunye, isikhathi, kanye nokubekezelelana kwengozi.