Should you invest with Spaceship Voyager?

Spaceship Voyager is a new app that lets you invest in a broad range of companies with just $5.  This isn’t the only App based investing product in Australia so how does it stack up to the competition and should you make the jump and start investing with them?  Read on to find out.

What is Spaceship Voyager

Spaceship Voyager is a mobile investing app.  The concept is simple, you download the app, sign up, connect your bank account and then choose how much you want to invest each month.  Your money is then invested in one of two portfolios.

The Spaceship Index fund is made up of 200 of the largest companies from Australia and around the world.   While most of the companies are in Australia and the U.S, there is also a good selection of companies from Europe and Asia.

The other portfolio you can choose is the Spaceship Universe Portfolio.  This is made up of companies that Spaceship believes will be the future.   This portfolio is made up of 100 companies they believe will be less likely to be disrupted.

Making a choice between the two portfolios might be quite confusing for most people.  When trying out the app, I chose the Universe Portfolio as it offers something different.  I believe there are better options for investing in an index fund.

What I don’t like about Spaceship Voyager

So what are some things I don’t like about Spaceship Voyager.

The App looks quite pretty but is severely lacking when it comes to details.  Competitor Raiz, has charts with performance and all time profit and detailed historical data.  On Spaceship you have to do this maths yourself.  And most annoyingly there is no allocation shown.  You have no idea how much of each company you own (even if it is just 0.001 share).   I would love to see Spaceship add more detail to the app.

What I do like

I like that Spaceship is giving you options to invest in the future.  The Universe fund is genuinely interesting and in my opinion is made up of pretty decent companies that align with my investment goals.

I like that they are making investing easier for people as well.  Traditionally, investing in funds like this required thousands of dollars of capital.  But you can get started for just $5.

I also like the fees.  For balances under $5000 there are no fees and over $5000 you pay a small fee which is below what most funds would charge.

So should you invest?

I’ve started investing a small amount with Spaceship.  It’s too soon to tell if their investing philosophy has merit.

If you’re looking to invest in a broad range of companies and start with a small amount of capital, try Raiz.  It’s a much better designed app and the portfolio’s have been put together by Nobel prize winning economists.

The idea behind Spaceship is neat.  So my recommendation would be to use Raiz instead and watch how Spaceship performs over the coming 12 months.

If you are looking to sign up with Spaceship, you can $20 free if you sign up through this link.

This post is for educational purposes and should not be considered as investment advice. This post is based on individual experience and journalistic research.

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