Described as a secure way to grow our cash holdings (up to 2% p.a.) with higher yields, Endowus Cash Smart Ultra looks like an easy way to earn higher returns for cash that’s idling in bank accounts. Taking this chance to do a quick Endowus Cash Smart Ultra review thus far, after using it for a short period of two months.
December 2020 –
Available for both cash and Supplementary Retirement Scheme (SRS), I started using Endowus Cash Smart (Enhanced) in December 2020 and transferred a total of $5,000 into my portfolio.
April 2021 –
Four months later in April 2021, I created a second account – Endowus Cash Smart (Ultra) – and transferred in $5,000.
Previously, it was a little complicated (need to do it manually) to create the Ultra Defensive Portfolio (UDP) on the Endowus Fund Smart platform for clients to supplement their cash management needs.
With the official launch of Endowus Cash Smart (Ultra), it became an easy “few clicks” operation which make it super easy for clients like me to target the highest achievable cash yields.
The newest Cash Smart (Ultra) will be a dynamically managed solution that will always target the highest yield from a combination of carefully selected short duration fixed income funds and money market funds, and will target 1.8~2.0% yield — the highest in the market among cash management accounts.
I love automation – that’s the whole point of robo advisors!
What is Endowus Cash Smart? Core vs Enhanced vs Ultra
There are three options when choosing to use Endowus Cash Smart and they are listed below with varying levels of risk and yield.
Option 1. Endowus Cash Smart – Core [Safe & Sound]
Endowus : We combine a cash fund that invests in institutional fixed deposits for Singapore’s biggest institutions with Singapore’s best performing money market fund. Unlikely to ever have a day of negative performance.
Option 2. Endowus Cash Smart – Enhanced [Enhanced Yield]
Endowus : We combine the best performing money market fund and short duration fund from the biggest SGD money managers to give your cash a boost in yield. Advised for cash needs >1 month away for extremely rare periods of negative performance.
Option 3. Endowus Cash Smart – Ultra [Highest Yield]
Endowus : We combine the best performing short duration funds and money market funds from multiple managers and flexibly allocate always to the highest yield achievable. Advised for cash needs >3 months away for rare periods of negative performance.
I particularly like the section in their frequently asked questions (FAQs) that addressed the number one question I had – how to choose between the three options for Cash Smart?
Simple comparison of cash-management solutions I use
- Syfe Cash+ $10,000 Portfolio Review (And 5 Reasons I’m Using It)
- Singlife $10,000 Account Review: Is It The Best High Returns (1.5%) Savings Account For Me?
Singlife functions as my pseudo-bank account and I actually use them regularly for overseas transactions due to their superior forex rates. I keep enough in Singlife to utilize the 1% interest for the first $10,000 in my account
Yes, that’s right – Singlife nerf incoming effective as of 1st July 2021. Also, I have read about people encountering issues with fund withdrawals even though it has not happened to me.
Needless to say, I will always have funds sitting in bank accounts as well for unmatched liquidity.
On top of Singlife, I currently have funds residing in the below cash management solutions as listed in the table below.
|Sing-Life||Endowus Cash |
|Syfe Cash+||Endowus Cash |
|1.0%||1.2% to 1.5%||1.5%||1.8% to 2.0%|
|50% LionGlobal |
|35% LionGlobal |
|27.5% LionGlobal |
|50% UOB United |
|35% LionGlobal |
|25% LionGlobal |
|30% LionGlobal |
|25% Fullerton |
|12.5% Nikko |
|10% PIMCO Low |
Details of the underlying funds can be found on Endowus Cash Smart website.
I figured that Endowus Cash Smart Enhanced 1.2% added to Endowus Cash Smart Ultra 1.8% would averaged out to 1.5% which is on-par to Syfe Cash+ projected returns.
I thought it would be a fun experiment to carry out and compare how they perform over a period of time.
What’s the catch?
An Endowus Cash Smart Ultra review, even a quick one, wouldn’t be complete without a brief mention of the user experience, isn’t it?
One important trait of money in bank account is the accessibility – it is perfectly liquid with no lock-up.
According to them, Endowus Cash Smart provides the same criteria – and more.
- No lockups
- No limits
- No tiers
- No penalties
- No hidden charges
- No sales fees
- No transaction fees
- No transfer limits
To be clear, I have not performed any form of cash withdrawals yet and can’t comment on the actual user experience of doing so.
The mobile app provides a good experience of logging to check the essentials – returns, transactions and performance. I didn’t encounter any app issues and was always able to get what I needed promptly.
Because the idea of a cash management solution is rather simple, I hardly logged in to my account at all.
But but but, I want to see returns!?
Here you go – interpret in whichever way you want. Do note that Enhanced was 6 months duration but Ultra was 2 months duration.
In particular, consider the Huarong Finance hit to LionGlobal SGD Enhanced Liquidity Fund although the fund has largely recovered.
I have to say, my Endowus CPF investment is looking rather good at this point in time.
In before you think that these are puny returns – I’m all about risk management. I have funds getting up to 10% in centralized platforms for USD stablecoins and even higher returns in crypto and the DeFi space. It’s just a spectrum to me – higher risks, higher rewards.
Is Endowus Cash Smart Safe? Trust account in my name
When an Endowus account is created, a trust account in my own name is created with UOB Kay Hian, Singapore’s largest broker.
Thereafter, my own trust account will be able to safely handle my cash and process all the transactions I make on the Endowus platform.
With this arrangement, I see it as minimizing the amount of risk involved for what would be a portion of my emergency, idle cash.
Besides, integration with SingPass has automated a big part of the sign-up process and personally, I see that as a huge plus.
Before I forget, my on-going Endowus Twitter thread that was started in June 2020 will continue to be updated if you interested on Endowus related matters.
I guess that’s it to my Endowus Cash Smart Ultra review with a bonus mention of Enhanced too!
In case you missed the mega promotion by Endowus which ran for a mere 4 days instead of 8 weeks due to overwhelming response, at no extra cost to you, my personalized referral link would still give your Endowus portfolio a head start when you decide to start an investment portfolio with them! If you are opening an account for the first time with Endowus, you will enjoy $20 off your access fees.
No fish, prawn also good.
These days, I spend some time hanging around my Discord server – think of it as a chat room with pumped up features, and no registration needed! Fancy getting tipped some ETH or Bitcoin? Join and have some fun!
Recommended pillar posts
As my portfolio grows, I’m increasingly relying on robo-advisors and start-ups in the personal finance scene to help manage my wealth. If you are thinking the same way, I have written a series of pillar posts – articles that range from 1,000 to 3,000 words that discusses my personal experience in detail. Perhaps they would be helpful!
- Endowus CPF $20,000 Portfolio Review (And 3 Questions I Asked About It)
- Syfe REIT+ $40,000 Portfolio Review (And 3 Things You Probably Didn’t Know About It)
- Singlife $10,000 Account Review: Is It The Best High Returns Savings Account?
- AutoWealth 5-Figure Portfolio Review : 3rd Year, Pure Market Returns
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Hello! I’m Kevin, Turtle Investor
At the age of 30, I am the Personal Finance Blogger who laid claim to a negative net worth of minus $25,755 – and decided to turn things around.
- Seven years later in 2019, I hit CPF Full Retirement Sum (FRS) of $176,000 without making a single cent of CPF top-up.
- In eight years, I added $453,000 to my net worth (excluding the value of my HDB apartment).
- I made over $12,000 in alternative income in 2020 (and $20,000 in one month) in addition to my full-time job.
I am married to a lovely wife and that means dual income with no kids. In my free time, I chase miles so that we can fly in business class. My hobby is making pocket change off this blog and sharing everything I know with you!