10X Investments
10X Investments took over the CoreShares ETF business last year and is making changes to two of their JSE listed ETFs.
10X SciBeta M-FI ETF (JSE code: SMART)
This ETF with a long and wild history will become the 10X Top50 ETF if the change is approved by holders.
This ETF started life as the Nedbank BettaBeta Equal weight To40 ETF. Nedbank then sold their ETF business to CoreShares who in 2019 made this a Smart Beta ETF and now it’ll become a generic Top50 ETF, the 10X S&P SA Top 50 (JSE code: CTOP50). We have details of the Top50 ETF below.
There will also be a reduction in the TER from 0.59% to 0.24%.
If you currently hold the ETF you have until 1 July to register your vote for or against the proposed change.
10X S&P SA Dividend Aristocrats Exchange Traded Fund (JSE code: DIVTRX)
This is a JSE listed ETF using the dividend aristocrat methodology that essentially only included stocks with consistent dividend payments. The offshore version (10X S&P Global Dividend Aristocrats; code GLODIV) works great but I suspect our market is simple too small to find enough consistent dividend payers, even over the short term
Here as well if approved the ETF will merge into the 10X S&P SA Top 50 and the TER will drop from a current 0.56% for the local dividend aristocrat ETF.
Again if you’re holding you need to vote by 1 July 2024.
Chart of the CTOP50 vs. the STX40 over the last decade.
CTOP50 vs. STX40
Simon Brown
| ETF name | 10X S&P SA Top 50 |
| JSE code | CTOP50 |
| ETF issuer | 10X Investments |
| Issue date | 13 May 2015 |
| Total investment cost | 0.24% |
| Tax-free savings account | Allowed |
| ETF major holdings | Anglo America, Naspers, Firstrand, Goldfields, Standard Bank, Capitec, Richemont, MTN, Bidcorp & Mondi |
| Market cap | R1.78billion |
| Performance 1 year | +5.6% |
| Performance 3 years | +16.3% |
| Performance 5 years | +40.7% |
| Performance since inception | +48.1% |
| Dividend yield | 3.5% |
ETF blog
At Just One Lap, we are big fans of passive investment using ETFs. In this weekly blog, we discuss ETFs on the local market and the factors you need to consider when choosing an ETF. If you have wondered how one ETF differs from another, this is where you can find out. We explain which index each ETF tracks, what type of portfolio could benefit from holding each ETF, and how the costs will affect your bottom line.
