Income investing is back in the spotlight.
As interest rates ease and high-yield savings accounts quietly slash their headline rates, many investors are once again asking the same question:
“Where can I park my money to earn income without babysitting my portfolio?”
That is where the UOBAM Ping An FTSE ASEAN Dividend Index ETF enters the conversation.
On the surface, the idea sounds simple - one ETF, diversified exposure to dividend-paying companies across Southeast Asia, listed on SGX, accessible in SGD or USD.
But as with most income products, the details matter far more than the headline.
Here are 6 things you need to know before deciding whether this ETF deserves a place in your portfolio.
1. This Is Not a REIT ETF - And That’s the Point
One of the most important – and often overlooked – details is that this ETF explicitly excludes REITs.
That immediately changes how investors should think about it.
Most Singapore income portfolios are already heavily tilted towards S-REITs. This ETF is not trying to replace that exposure.
Instead, it targets mature, dividend-paying stocks - banks, telcos, utilities, infrastructure, and consumer names across ASEAN.
For investors already holding S-REITs, this ETF is better viewed as a complementary income sleeve, not a substitute.
2. 6% in a Lower-Rate Environment
The rationale behind launching this ETF now is not accidental.
As global interest rates peak and gradually trend lower, traditional “safe” yield instruments become less attractive.
High-yield savings accounts, fixed deposits, and even short-term bonds no longer offer the same returns they did 12–18 months ago.
At the same time, ASEAN companies have historically paid higher dividends than their US or European counterparts, particularly in sectors like banking, utilities, and telecommunications.
This ETF packages that regional income advantage into a single trade, reducing the friction for investors who would otherwise need to navigate multiple exchanges, currencies, and tax regimes.
3. Diversification across 57 Stock Constituents
Most investors glance at the top 10 holdings (i.e. DBS, OCBC, Maybank, Singtel, Astra) and stop there.
But the real diversification appears when you examine all 57 constituents.
Beyond the top names, the ETF holds smaller-weight exposure to:
Infrastructure operators
Power utilities
Ports and logistics companies
Consumer and industrial names
To better understand this, I compiled all 57 holdings into an Excel model, mapped their weightage and trailing dividend yields across the portfolio below…
🔒 Subscribers-Only: Full ETF Breakdown Excel