Prices Assessment Table
We calculated the Spr% after updating the HYH and HYL. Although our TAPP initially uses the 52WH-52WL as parameters, it doesn’t reflect the volatility accurately and skews our DCA calculations. Using the HYH and HYL makes the spread and margins closer and more accurate.
A few notes to make. ANZ and NAB Spr% are both above 15%+, but still lower than RIO and BHP at 25%+. Both ANZ and NAB current CPs are outside of the HYH range, but RIO and BHP are within. MQG 52WS% is 50%+, but using the HYH and HYL, Spr% is closer to 24%. MQG is volatile, so we’ve reflected our TAPP closer to the Spr%. Based on recent announcements for CSL, price dropped causing the 52WS% closer to 50%. However, reflecting the HYH and HYL, our spread is closer to 12%. CSL is definitely more volatile, so this gives us the opportunity to DCA more frequently. DXS 52WS% and Spr% are within 20%, so within range.
We’ve separated VTS, VEU, and VAE from the Pricing Assessment Table and used the P-to-P % as a metric. Based on the chart analysis, our assessment focused on the following periods: DEC-2021, AUG-2023, MAR-2024, SEP-2024, and APR-2025. Using these periods allow for us to focus on the peaks and troughs.
When comparing DEC-2021 to AUG-2023, the Spread Return (Spr%) on VTS was a modest 4% over 1.5 years. A more recent window—MAR-2024 to APR-2025—shows a slightly higher Spr% of 6.5% over just 1 year. Despite a headline Point-to-Point (P-to-P) gain of 27%, the Annualized Return (AR%) across the full 3.5-year period settles at just 7.7%.
From December 2021 to August 2023, VEU delivered a flat Spread Return (Spr%) of 0% over 1.5 years. In contrast, the following window—March 2024 to April 2025—shows a stronger Spr% of 9% in just 1 year. Despite these shifts, the total Point-to-Point (P-to-P) gain across the full 3.5-year period lands at 15.5%. More notably, the Annualized Return (AR%) settles just below 5%—a modest result given the timeframe and volatility.
Between December 2021 and August 2023, VAE posted a negative Spread Return (Spr%) of –10% across 1.5 years. In contrast, the more recent window from March 2024 to April 2025 shows a positive Spr% of 11% over just 1 year. Despite these fluctuations, the overall Point-to-Point (P-to-P) gain across the full 3.5-year period is a modest 2%. More notably, the Annualized Return (AR%) comes in at just under 1%—a surprisingly weak outcome given the timeframe.
