Reference Portfolio · Updated
Global ETFs
ETF-based non-US exposure — regional rotation, thematic tilt, FX-aware positioning.
Thesis
Global ETFs implements the non-US allocation of the Closelook Reference framework through liquid ETF vehicles. The portfolio is coarser than Global Tech 50 — it buys regional exposure (Europe, Japan, EM, frontier) rather than specific franchises — but that's the point: an ETF sleeve's job is to express regime and rotation calls, not name-picking.
Core rotation between DM-ex-US (EZU, EWJ), EM (EEM, VWO), and thematic tilts (ARTY for AI-non-US, KWEB for China-tech) is informed by Temperature readings, cointegration stretches in cross-asset pairs, and DXY trajectory. When the dollar is structurally weak and EM cross-asset pairs are healthy, EM exposure rises; when DXY breaks higher, the sleeve rotates toward DM-ex-US with better FX-buffers.
FX overlays (hedged vs. unhedged share classes, currency ETFs when needed) are part of the position-level decisions, not an afterthought.
Structure
- Equities16
16 equity positions · US . Benchmark: FTSE All-World ex-US (VEU).
Composition
16 positions grouped by segment. Values in each group's native currency; portfolio weight is USD-normalised. Snapshot from Apr 16, 2026.
Equities (USD)
| Symbol | Units | MV | Unrealized | Weight |
|---|---|---|---|---|
| SMHX | 600.22 | USD 27,208 | +67.8% | 10.49% |
| EEM | 404.17 | USD 25,241 | +11.3% | 9.73% |
| ARTY | 300 | USD 17,295 | +15.8% | 6.67% |
| XMMO | 110.73 | USD 17,246 | +20.8% | 6.65% |
| QTOP | 503.10 | USD 16,948 | +34.9% | 6.53% |
| ASEA | 828.88 | USD 16,437 | +17.1% | 6.34% |
| VEU | 200.31 | USD 16,127 | +6.8% | 6.22% |
| VSS | 100 | USD 15,751 | +0.5% | 6.07% |
| TOPT | 502.92 | USD 15,726 | +28.4% | 6.06% |
| BBEU | 200 | USD 15,376 | -1.0% | 5.93% |
| ILF | 400 | USD 15,176 | +4.6% | 5.85% |
| IBIT | 330 | USD 14,101 | +15.3% | 5.44% |
| VPL | 125 | USD 13,231 | -0.5% | 5.10% |
| GLD | 30.00 | USD 13,202 | +8.5% | 5.09% |
| REMX | 100 | USD 10,305 | +14.9% | 3.97% |
| INDA | 200 | USD 10,000 | -8.5% | 3.86% |
Related
Beyond the snapshot
Closelook.money adds the live layer
The composition above is the end-of-day snapshot. Closelook.money adds what sits between snapshots: the historical move log with Thomas' reasoning per trade, per-holding performance attribution, per-portfolio real-time alerts when a position changes, and CSV export for analysis.
- Full historical moves log with per-trade reasoning
- Per-holding attribution — which position drives the return
- Real-time alerts on opens, closes, and ≥10% size changes
- CSV export of current composition
Methodology & disclaimer
Global ETFs is a reference portfolio — it reflects how Thomas Look, author and publisher of Closelook, implements the analytical theses discussed on this site. Position data is updated daily from end-of-day broker exports (Barchart). Benchmark prices come from EODHD.
Reference portfolio, educational purpose only. ETF-based non-US rotation.
Reference portfolio, not investment advice. Past performance is not indicative of future results. Closelook Venture GmbH is a publishing company and does not manage client capital.