How to build an ETF portfolio (from scratch) ft. Jess Leung
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In this Australian Investors Podcast episode, Owen Rask sits down with Jess Leung from Global X to kick off a six-part portfolio construction series by tackling the question most ETF investors skip too quickly: what should a good portfolio actually look like from day one? Jess explains why a portfolio should be treated as a system, not a collection of random ideas, and why every ETF needs a job to do. They unpack the difference between a core portfolio and satellite positions, why asset allocation matters more than obsessing over tiny ETF differences, and how investors can think more clearly about risk tolerance, time frame and long-term goals before buying anything. The conversation also explores common blind spots, including home bias, portfolio overlap and the hidden costs that come from spreads, brokerage and repeated trading over time. Jess shares practical ways to look through a portfolio, spot duplicated exposures, and decide whether a position belongs in the core or the satellite bucket. They finish with real ETF examples from the Global X range, including broad Australian exposure, global equity options, fixed income and currency hedging, giving investors a practical framework for building something more deliberate from the start. If you want to build a smarter ETF portfolio with more intention and less guesswork, this is a strong place to start. Chapters: 00:00 Intro & Collector's Portfolio 01:10 Meet Jess Long 02:15 Portfolio Design vs Ad Hoc 06:53 Core Portfolio Explained 09:24 Hidden Trading Costs 10:50 Asset Allocation Basics 13:35 Home Bias & Aussie Stocks 18:34 ETF Overlap Problem 21:25 How Many Stocks Matter? 26:12 Core vs Satellite 31:22 Conviction vs Position Sizing 32:42 ETF Examples Walkthrough 37:13 Getting Financial Advice Episode resources - Speak with the Rask Advice team: https://rask.com.au/advice - Ask a question (select the Investors podcast): https://bit.ly/R-quest Show partner resources - ETF investor? Go beyond ordinary with Gl
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