Do You Really Know What You’ve Invested In?

📊 The Art of Investing Survey – Fill in the form here, we’d love your feedback: https://forms.office.com/e/tCyxzN48Ks 📈 Download the full Portfolio Performance Slides here: https://drive.google.com/file/d/1aVhhK6O7QjYcGAvc_-IdW7LG0KWjydI1/view?usp=sharing 📧 Get in touch: [email protected] 📱 Behind the scenes: _theartofinvesting on TikTok | @theartofinvestingpod (Instagram) 🎧 Listen on: Apple, Spotify, YouTube Happy Birthday to us! This week on The Art of Investing, the team mark one year of the portfolio with a more volatile week in markets, as geopolitical tensions, oil price moves and continued rotation across equities begin to test performance. While the portfolio takes a step back, the broader conversation focuses on what’s really driving markets right now - from renewed pressure in commodities and emerging markets, to ongoing shifts within equities and growing dispersion across global indices. The team also explore two key themes this week: the hidden concentration within ETFs - comparing cap-weighted vs equal-weighted investing - and the rise of thematic investing, including how to think about geographic and sector diversification. This Week’s Highlights: 📉 Markets Pull Back A weaker week across global markets sees broad-based declines, with most asset classes finishing in negative territory. 🛢️ Oil Volatility Returns Geopolitical tensions push oil prices higher again, reversing recent declines and adding pressure across sectors like airlines and transport. 🔄 Rotation Continues Ongoing shifts within equities, with capital moving between sectors and regions rather than leaving markets entirely. 🤖 AI & Tech Volatility Continued swings across semiconductor and AI-linked stocks, highlighting the fragility of recent momentum. 🇯🇵 Japan Under Pressure After a strong run, rising bond yields raise questions around sustainability and potential profit-taking. 📉 Commodities Pause A cooling period for commodities, with weaker China demand and a stronger dollar weighing on prices. 📊 Concentration Still Matters Single stock moves continue to have an outsized impact on indices, reinforcing the importance of understanding what you own. Portfolio Snapshot – Week 47: No changes were made to the portfolio this week. Weekly portfolio performance: -2.2% Total return since inception: +21.5% 2026 year-to-date return: +9.0% Top Performers: 📈 Cash: +0.1% WoW 📈 iShares Core FTSE 100 ETF: -0.0% WoW 📈 iShares UK Gilts 0–5yr ETF: -0.3% WoW Underperformers: 📉 iShares Nikkei 225 ETF: -5.9% WoW 📉 BlackRock World Mining Trust PLC: -5.3% WoW 📉 iShares Core MSCI EM IMI ETF: -4.0% WoW Big Questions This Week: - Is this pullback a short-term reaction or the start of a broader slowdown? - How sustainable is the recent strength in oil prices? - Are commodities simply pausing, or is the cycle turning? - What does rising bond yield pressure mean for Japan and global markets? - Is market concentration still a hidden risk for investors? What You’ll Learn: ✔️ What’s driving the latest bout of market volatility ✔️ Why oil prices are back in focus ✔️ How rotation is shaping equity performance ✔️ What’s happening in Japan and why it matters ✔️ Why understanding index composition is key ✔️ What the team are watching next in the portfolio Disclaimer: This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes. Your capital is at risk. The value of shares, ETFs and ETCs can fall as well as rise, which could mean getting back less than you originally put in.