Analysis of the top 10 stock and ETF holdings by investors in each state found many have a bias towards companies based in their own state.
Australian investors are famous for their love affair with domestic shares, but new data suggests the “home bias” is even more granular, with slight differences in the top stock and ETF holdings by state.
That was followed by Vanguard’s Diversified Growth Index ETF and MSCI Index International Shares ETFs across most Australian states and territories.brokers including CommSec, NABTrade, ANZ, SelfWealth, Stake, Pearler and SuperheroBut below the broad-based ETFs on the ranking, the same data revealed investors have a “home bias” towards companies with ties to their state or territory.
, which was the most popular individual stock holding among investors in the state, and the fourth-most popular holding overall. WA is the only state where Bunnings owner Wesfarmers is a top-10 holding, coming in at sixth on the ranking, while Victoria and South Australia are the only states where Melbourne-founded CSL is a popular holding.Sample portfolios created based on the top 10 holdings revealed NSW investors’ holdings delivered the greatest returns of 21.46 per cent, followed by Queensland investors , Western Australia , Victoria and South Australia .
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