My main holding on IE is in an S&P500 tracker, SPXP. I thought it was clever: the S&P500 has good long-term average returns.
Lately I’ve noticed an ostensible contradiction: the S&P500 is back to an all-time high, but the value in SPXP hasn’t recovered nearly as much.
I think I’ve got it figured out. While the index fund has surely recovered in line with the S&P500 itself, the value of the fund in ££ most certainly has not, because of the big fall in the dollar vs. the pound.
Does that sound right?
There’s a risk I didn’t anticipate, associated with the election of a fat orange moron…
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