Spaceship Investment App

Hi all,

What do you think about this new app which invests in global and aussie stocks

It is offering no fees for balances under $5000

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Get exposure to over 100 companies in a single trade and receive an annual statement required for your tax return.
Low fees
Your balance below $5,000 is free. Then, only 0.05%-0.10% of your balance per year. No other fees, withdraw anytime.

Spaceship Voyager

Related Store: Spaceship Voyager

Comments

  • +1 vote

    Fees of 5 to 10 bps is not low for a passive index fund. The hostplus balanced index fund charges 2bps.

    But it does open up passive index investing to low balances, and outside super, which would be positive.

    But I have some general wariness of such new players

    https://www.businessinsider.com.au/millennial-super-fund-spa...

    • +2 votes

      Yeah, Spaceships whole offering (super as well) is about overcharging for passive index funds.

      • +1 vote

        I guess we can take advantage of it by just putting $4,500 on it, and taking it out and moving it to regular ETFs when it reaches around $7,000.

  • +4 votes

    "Spaceship"? I have trouble taking that name seriously! lol

  • +4 votes

    so is this similar to acorns/raiz?

    Does anyone have any reviews? I thought they only did super..

    • +3 votes

      Apparently they've just released a non-super offering via app only.
      Acorns/Raiz has the 'feature' of round ups… I think Spaceship's investment hook is no fees for under $5k.

  • +2 votes

    anyone signed up? whats the returns like? paid daily, weekly, monthly?

    • +1 vote

      A couple of days in review.

      Its like Acorns but it doesnt seem to be 'live' data - you cant really tell where your money is sitting.
      App crashes quite a bit, its okay. I would recomend Raiz/Acorns over it any day of the week.

      You will see your balance updated every day - Acorns is 20 minutes delayed so its basically live.

  • +1 vote

    I'm suss on no fees at all for balances under 5K…
    Surely there's a catch here…

      • +1 vote

        Hi, just wary based on above comments about how we know how much the current investment is valued at? Is this displayed in the app, how often is the value updated? Is there any performance data yet? Thanks.

        • +1 vote

          FYI to any who are interested, got this response after querying:

          Since the fund has only been up and running for about a month, we do not have enough data to collate accurate performance features. We believe that we have it would be deceiving to our customer base to provide the performance figures to date.

          However we'll be happy to share the performance of the fund as soon as we have been up and running for a few more weeks.

          Other than lower fees, the key benefit of investing in the Spaceship Universe portfolio is that you are investing where the world is going. We believe that our Where the World is Going methodology adds value to a traditional index investing approach by identifying and selecting innovative companies that have the potential to outperform the broader market.

          And if you are looking for diversification with a single investment, the Spaceship index portfolio provides a simple way to get access to a portfolio of the largest 100 listed Australian shares and 100 listed global shares by market capitalisation.

          Our engineering team are looking to at adding some comprehensive performance features over the next few app updates.

  • +3 votes

    Installed and whacked in $100 a week ago, the app has literally nothing on your performance other than ytd return on the front page, then has news about mainly US businesses… not a great deal on 'YOUR' investment. No details on transactions, how many units you hold etc.

    • +1 vote

      Sorry to hear the app is missing some features you expect. We're working on adding a chart that shows your historical performance and more details around transactions i.e. how many units you hold.

      Feel free to reach out to our support team via hello@spaceshipinvest.com.au and they'll be happy to fill you in on all those details.

      Cheers!

  • +2 votes

    Got a better return on this app than a bank account lol

  • +3 votes

    they have added a referral program
    ozbargain's random referral link is below:
    https://ozbargain.com.au/deals/spaceshipinvest.com.au

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