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Value-Up captures the structural shift in Asian markets toward stronger governance, disciplined capital allocation, and shareholder-focused reforms—turning corporate restructuring into a scalable, investible theme.
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The SMARTKARMA SG ALLCAP VUP is an actively rebalanced, all market capitalisation, 50 stock portfolio that embodies Smartkarma’s Value-Up (VUP) philosophy—focusing on companies that demonstrate capital efficiency, minority-friendliness, sustainable returns, and strong market signals. It is built on a foundation of independent research and proprietary data.
Last Updated: 25 Sep 2025
| Performance (since May 2020) | 169.8% |
|---|---|
| CAGR | 20.1% |
| SmartScore | 3.73 |
| PE | 14.07 |
|---|---|
| PB | 1.59 |
| Dividend Yield | 5.01 |
Periodic Performance
| Period | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 1 Month | 11.1% | 3.0% | 8.1% |
| 3 Months | 29.0% | 9.9% | 19.1% |
| 6 Months | 45.0% | 9.4% | 35.6% |
| 12 Months | 52.5% | 23.5% | 29.0% |
| Since Inception | 169.8% | 66.8% | 102.9% |
Calendar Performance
| Year | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 2020 | 35.4% | 9.8% | 25.7% |
| 2021 | 19.0% | 10.1% | 8.9% |
| 2022 | -2.8% | 6.3% | -9.1% |
| 2023 | -0.4% | -6.1% | 5.8% |
| 2024 | 12.9% | 21.4% | -8.5% |
| 2025 | 53.2% | 14.0% | 39.2% |
Top 20 Holdings
| Symbol | Name | Market Cap | Entry Date | % Assets | % Return |
|---|---|---|---|---|---|
| OKP SP | OKP Holdings | $279 | Dec 2023 | 4.0% | 496.0% |
| FEH SP | Food Empire Holdings | $1,088 | Jun 2023 | 3.9% | 200.4% |
| HUAGL SP | Huationg Global | $69 | Aug 2024 | 3.9% | 323.5% |
| HKC SP | Hor Kew Corp | $51 | May 2025 | 3.8% | 90.4% |
| WHUR SP | Wee Hur Holdings | $521 | Jul 2025 | 3.5% | 46.3% |
| HLA SP | Hong Leong Asia | $1,436 | May 2020 | 3.4% | 494.5% |
| PROP SP | Propnex Ltd | $1,386 | Jul 2020 | 3.4% | 1270.2% |
| THK SP | Thakral Corp | $158 | May 2020 | 3.1% | 446.1% |
| LHN SP | LHN Ltd | $327 | Nov 2023 | 3.1% | 250.8% |
| CENT SP | Centurion Corp | $1,052 | May 2020 | 3.0% | 430.3% |
| xxxx xx | xxx xxxxxx xxxxxxxxx | $498 | Jan 2022 | 2.9% | 129.9% |
| xxxx xx | xxx xxx xxxx | $2,505 | May 2024 | 2.8% | 59.9% |
| xx xx | xxxxx xxxx xxx | $246 | May 2020 | 2.7% | 578.6% |
| xxx xx | xxx xxx | $271 | Nov 2022 | 2.5% | 107.8% |
| xxx xx | xxxxxxx xxxxxxxxxxxxx | $226 | May 2020 | 2.5% | 223.4% |
| xxx xx | xxxxx xxxxxxxxxxxxx | $32 | May 2020 | 2.3% | 407.4% |
| xxx xx | xxxx xxxxxxxxxxx x xxxxxxx | $294 | May 2020 | 2.2% | 190.1% |
| xxxx xx | xxx xxx xxxx xxxxxxxx | $1,855 | May 2020 | 2.2% | 184.8% |
| xxxx xx | xxxxxxxx xxxxxxxx xxxx | $414 | Nov 2022 | 2.1% | 75.8% |
| xxx xx | xxxxxxxxx xxxxxxxx | $15,696 | Jun 2023 | 2.1% | 16.9% |
Sector and Market Cap Exposure
| Sector | Weight |
|---|---|
| Industrials | 32.1% |
| Real Estate | 18.8% |
| Consumer Discretionary | 15.9% |
| Financials | 12.2% |
| Materials | 6.9% |
| Information Technology | 4.3% |
| Consumer Staples | 3.9% |
| Health Care | 3.1% |
| Energy | 2.9% |
| Communication Services | 0.0% |
| Utilities | 0.0% |
| Market Cap | Weight |
|---|---|
| Small (<1B) | 69.1% |
| Medium (1-3B) | 24.8% |
| Large (>3B) | 6.1% |
| Average | $1,189 |
| Median | $424 |
Disclaimer
The information, data, and materials presented on this website are provided for informational purposes only and do not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any financial product. The analysis is based solely on Smartkarma’s proprietary research and data. No third-party data sources have been used in the creation or dissemination of these Indices unless otherwise stated explicitly. Unauthorized reproduction, redistribution, or systematic retrieval of any content on this website—whether in whole or in part—is strictly prohibited without prior written permission from Smartkarma. However, brief excerpts or references may be used with appropriate attribution to Smartkarma, provided such use does not distort the original context. While Smartkarma makes reasonable efforts to ensure the accuracy and timeliness of the information presented, no warranty, express or implied, is given as to its accuracy, completeness, or suitability for any particular purpose. Smartkarma accepts no liability for any loss or damage arising from the use of or reliance on this information. Past performance is not indicative of future results. The Indices do not guarantee any return and should not be used as the sole basis for any investment decision. Smartkarma reserves the right to modify, suspend, or discontinue any aspect of the Indices or this website at any time without notice.
Copyright © Smartkarma. No reproduction in whole or in part without explicit written permission.
The SMARTKARMA SG SMIDCAP VUP is an actively rebalanced, Small and Mid market capitalisation, 50 stock portfolio that embodies Smartkarma’s Value-Up (VUP) philosophy—focusing on companies that demonstrate capital efficiency, minority-friendliness, sustainable returns, and strong market signals. It is built on a foundation of independent research and proprietary data.
Last Updated: 25 Sep 2025
| Performance (since May 2020) | 127.6% |
|---|---|
| CAGR | 16.4% |
| SmartScore | 3.74 |
| PE | 13.69 |
|---|---|
| PB | 1.15 |
| Dividend Yield | 4.86 |
Periodic Performance
| Period | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 1 Month | 6.1% | 3.0% | 3.2% |
| 3 Months | 15.6% | 9.9% | 5.6% |
| 6 Months | 29.7% | 9.4% | 20.3% |
| 12 Months | 35.9% | 23.5% | 12.4% |
| Since Inception | 127.6% | 66.8% | 60.7% |
Calendar Performance
| Year | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 2020 | 32.8% | 9.8% | 23.0% |
| 2021 | 18.0% | 10.1% | 7.9% |
| 2022 | -6.5% | 6.3% | -12.8% |
| 2023 | -0.2% | -6.1% | 5.9% |
| 2024 | 13.6% | 21.4% | -7.8% |
| 2025 | 37.2% | 14.0% | 23.2% |
Top 20 Holdings
| Symbol | Name | Market Cap | Entry Date | % Assets | % Return |
|---|---|---|---|---|---|
| OKP SP | OKP Holdings | $279 | Dec 2023 | 4.0% | 496.0% |
| YZJFH SP | Yangzijiang Financial Holding | $3,246 | Jan 2025 | 3.8% | 206.8% |
| THK SP | Thakral Corp | $158 | May 2020 | 3.6% | 446.1% |
| HLA SP | Hong Leong Asia | $1,436 | May 2020 | 3.4% | 494.5% |
| CENT SP | Centurion Corp | $1,052 | May 2020 | 3.2% | 430.3% |
| MC SP | Multi Chem Ltd | $246 | May 2020 | 3.1% | 578.6% |
| PBS SP | Penguin International | $226 | May 2020 | 3.0% | 223.4% |
| MMFS SP | Moneymax Financial Services | $316 | May 2020 | 3.0% | 431.4% |
| CCHL SP | Choo Chiang Holdings Ltd | $69 | May 2020 | 3.0% | 253.1% |
| FEH SP | Food Empire Holdings | $1,088 | Nov 2023 | 2.8% | 162.0% |
| xxxx xx | xxx xxx xxxx xxxxxxxx | $1,855 | May 2020 | 2.7% | 184.8% |
| xxx xx | xxxxx xxxxxxxxxxxxx | $32 | May 2020 | 2.7% | 407.4% |
| xxx xx | xxx xxxxx xxxxx xxxxxxxx | $95 | Nov 2024 | 2.4% | 74.5% |
| xxxx xx | xxx xxx xxxx | $2,505 | May 2024 | 2.3% | 59.9% |
| xxx xx | xxx xxx | $271 | Nov 2022 | 2.3% | 107.8% |
| xxx xx | xxx xxx | $49 | Apr 2025 | 2.2% | 23.1% |
| xxx xx | xxxx xxxxxxxxxxx x xxxxxxx | $294 | Aug 2020 | 2.2% | 162.2% |
| xxx xx | xxx xxxxxxxx | $40 | Oct 2020 | 2.1% | 123.8% |
| xxx xx | xxxxxxx xxxxxxxxxx | $121 | May 2020 | 2.1% | 123.4% |
| xxx xx | xxx xxxxxxxxxxxxx | $95 | May 2020 | 2.0% | 118.4% |
Sector and Market Cap Exposure
| Sector | Weight |
|---|---|
| Industrials | 24.6% |
| Consumer Discretionary | 18.8% |
| Financials | 16.3% |
| Real Estate | 15.8% |
| Materials | 9.1% |
| Information Technology | 6.6% |
| Consumer Staples | 4.4% |
| Health Care | 2.7% |
| Energy | 1.8% |
| Communication Services | 0.0% |
| Utilities | 0.0% |
| Market Cap | Weight |
|---|---|
| Small (<1B) | 72.6% |
| Medium (1-3B) | 21.5% |
| Large (>3B) | 5.9% |
| Average | $726 |
| Median | $353 |
Disclaimer
The information, data, and materials presented on this website are provided for informational purposes only and do not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any financial product. The analysis is based solely on Smartkarma’s proprietary research and data. No third-party data sources have been used in the creation or dissemination of these Indices unless otherwise stated explicitly. Unauthorized reproduction, redistribution, or systematic retrieval of any content on this website—whether in whole or in part—is strictly prohibited without prior written permission from Smartkarma. However, brief excerpts or references may be used with appropriate attribution to Smartkarma, provided such use does not distort the original context. While Smartkarma makes reasonable efforts to ensure the accuracy and timeliness of the information presented, no warranty, express or implied, is given as to its accuracy, completeness, or suitability for any particular purpose. Smartkarma accepts no liability for any loss or damage arising from the use of or reliance on this information. Past performance is not indicative of future results. The Indices do not guarantee any return and should not be used as the sole basis for any investment decision. Smartkarma reserves the right to modify, suspend, or discontinue any aspect of the Indices or this website at any time without notice.
Copyright © Smartkarma. No reproduction in whole or in part without explicit written permission.
The SMARTKARMA SG LARGECAP VUP is an actively rebalanced, Large market capitalisation, 30 stock portfolio that embodies Smartkarma’s Value-Up (VUP) philosophy—focusing on companies that demonstrate capital efficiency, minority-friendliness, sustainable returns, and strong market signals. It is built on a foundation of independent research and proprietary data.
Last Updated: 25 Sep 2025
| Performance (since May 2020) | 51.3% |
|---|---|
| CAGR | 7.9% |
| SmartScore | 3.47 |
| PE | 18.46 |
|---|---|
| PB | 2.12 |
| Dividend Yield | 4.14 |
Periodic Performance
| Period | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 1 Month | 2.6% | 3.0% | -0.4% |
| 3 Months | -1.6% | 9.9% | -11.6% |
| 6 Months | 3.0% | 9.4% | -6.4% |
| 12 Months | 3.1% | 23.5% | -20.4% |
| Since Inception | 51.3% | 66.8% | -15.6% |
Calendar Performance
| Year | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 2020 | 16.1% | 9.8% | 6.4% |
| 2021 | 3.0% | 10.1% | -7.1% |
| 2022 | 7.5% | 6.3% | 1.2% |
| 2023 | 2.8% | -6.1% | 8.9% |
| 2024 | 10.8% | 21.4% | -10.6% |
| 2025 | 3.3% | 14.0% | -10.8% |
Top 20 Holdings
| Symbol | Name | Market Cap | Entry Date | % Assets | % Return |
|---|---|---|---|---|---|
| DBS SP | DBS | $111,021 | May 2020 | 5.2% | 299.7% |
| KEP SP | Keppel Corp | $12,524 | Nov 2020 | 5.2% | 333.5% |
| SGX SP | SGX | $13,954 | Jul 2020 | 5.1% | 159.0% |
| STE SP | ST Engineering | $20,715 | May 2020 | 5.1% | 258.6% |
| ST SP | Singtel | $54,627 | Nov 2020 | 5.0% | 157.4% |
| OCBC SP | OCBC | $57,159 | May 2020 | 5.0% | 158.2% |
| UOB SP | UOB | $44,318 | May 2020 | 4.7% | 141.7% |
| SIA SP | Singapore Airlines | $15,696 | Oct 2022 | 4.5% | 64.9% |
| SCI SP | Sembcorp Industries | $8,345 | Sep 2020 | 4.4% | 642.6% |
| SATS SP | SATS | $3,914 | Jun 2023 | 4.3% | 42.7% |
| xxx xx | xxxx xxxxxxxxxxxx | $4,918 | Aug 2024 | 4.0% | 32.3% |
| xxx xx | xxx xxxxx | $5,168 | Jul 2025 | 3.9% | 22.4% |
| xxxx xx | xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxx | $13,540 | May 2020 | 3.9% | 64.4% |
| xxx xx | xxxxxxxx | $6,315 | Jul 2025 | 3.7% | 16.5% |
| xxxx xx | xxxxxxx xxxxx x xxxxxxxx | $8,898 | May 2020 | 3.7% | 86.8% |
| xxxx xx | xxxxxxxxxx xxxxxxxx xxxx | $10,100 | Oct 2022 | 3.6% | 34.4% |
| xxx xx | xxxxxxxxx xxx xxxx xxxxxxxxxx xxxxx | $5,821 | Nov 2023 | 3.5% | 25.3% |
| xxxxxxx xx | xxxxxx xx xxxx | $4,157 | Jan 2025 | 3.4% | 13.3% |
| xxx xx | xxxxxxxxx xxxxxxxxx xxxxx | $4,948 | Jul 2025 | 3.4% | 6.0% |
| xxx xx | xxxxxxx xxxxxxxxxxx xxxxx | $3,706 | Jul 2025 | 3.3% | 2.9% |
Sector and Market Cap Exposure
| Sector | Weight |
|---|---|
| Real Estate | 35.1% |
| Industrials | 27.2% |
| Financials | 20.0% |
| Consumer Discretionary | 6.6% |
| Consumer Staples | 6.0% |
| Communication Services | 5.0% |
| Materials | 0.0% |
| Information Technology | 0.0% |
| Health Care | 0.0% |
| Energy | 0.0% |
| Utilities | 0.0% |
| Market Cap | Weight |
|---|---|
| Small (<1B) | 0.0% |
| Medium (1-3B) | 3.3% |
| Large (>3B) | 96.7% |
| Average | $17,963 |
| Median | $8,898 |
Disclaimer
The information, data, and materials presented on this website are provided for informational purposes only and do not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any financial product. The analysis is based solely on Smartkarma’s proprietary research and data. No third-party data sources have been used in the creation or dissemination of these Indices unless otherwise stated explicitly. Unauthorized reproduction, redistribution, or systematic retrieval of any content on this website—whether in whole or in part—is strictly prohibited without prior written permission from Smartkarma. However, brief excerpts or references may be used with appropriate attribution to Smartkarma, provided such use does not distort the original context. While Smartkarma makes reasonable efforts to ensure the accuracy and timeliness of the information presented, no warranty, express or implied, is given as to its accuracy, completeness, or suitability for any particular purpose. Smartkarma accepts no liability for any loss or damage arising from the use of or reliance on this information. Past performance is not indicative of future results. The Indices do not guarantee any return and should not be used as the sole basis for any investment decision. Smartkarma reserves the right to modify, suspend, or discontinue any aspect of the Indices or this website at any time without notice.
Copyright © Smartkarma. No reproduction in whole or in part without explicit written permission.
The SMARTKARMA SG ALLCAP-LQD VUP is an actively rebalanced, all market capitalisation, 50 'liquid' stock portfolio that embodies Smartkarma’s Value-Up (VUP) philosophy—focusing on companies that demonstrate capital efficiency, minority-friendliness, sustainable returns, and strong market signals. It is built on a foundation of independent research and proprietary data.
Last Updated: 25 Sep 2025
| Performance (since May 2020) | 85.9% |
|---|---|
| CAGR | 12.1% |
| SmartScore | 3.53 |
| PE | 16.96 |
|---|---|
| PB | 1.88 |
| Dividend Yield | 4.70 |
Periodic Performance
| Period | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 1 Month | 6.2% | 3.0% | 3.2% |
| 3 Months | 15.6% | 9.9% | 5.7% |
| 6 Months | 24.5% | 9.4% | 15.1% |
| 12 Months | 26.5% | 23.5% | 3.0% |
| Since Inception | 85.9% | 66.8% | 19.1% |
Calendar Performance
| Year | Strategy | Benchmark | Outperformance |
|---|---|---|---|
| 2020 | 27.1% | 9.8% | 17.4% |
| 2021 | 10.4% | 10.1% | 0.3% |
| 2022 | -1.1% | 6.3% | -7.4% |
| 2023 | -0.9% | -6.1% | 5.3% |
| 2024 | 5.8% | 21.4% | -15.6% |
| 2025 | 27.7% | 14.0% | 13.6% |
Top 20 Holdings
| Symbol | Name | Market Cap | Entry Date | % Assets | % Return |
|---|---|---|---|---|---|
| FEH SP | Food Empire Holdings | $1,088 | May 2023 | 3.9% | 191.2% |
| YZJFH SP | Yangzijiang Financial Holding | $3,246 | Jan 2025 | 3.8% | 222.1% |
| GERL SP | Geo Energy Resources | $498 | Jan 2022 | 3.7% | 134.2% |
| DBS SP | DBS | $111,021 | May 2020 | 3.4% | 306.5% |
| KEP SP | Keppel Corp | $12,524 | Nov 2022 | 3.4% | 146.8% |
| STE SP | ST Engineering | $20,715 | May 2020 | 3.2% | 260.5% |
| HPHT SP | Hutchison Port Holdings Trust | $1,786 | Sep 2020 | 3.2% | 227.6% |
| UMSH SP | UMS Holdings | $783 | May 2020 | 2.9% | 211.9% |
| GGR SP | Golden Agri Resources | $2,907 | May 2020 | 2.8% | 158.1% |
| UOB SP | UOB | $44,318 | May 2020 | 2.7% | 142.0% |
| xxxx xx | xxxx | $57,159 | May 2020 | 2.7% | 158.2% |
| xxx xx | xxxxxxxx xxxxxxxxxx | $8,345 | May 2020 | 2.7% | 884.9% |
| xxx xx | xxx xxxxxx xxx | $406 | Jul 2020 | 2.6% | 158.8% |
| xxxx xx | xxx xxx xxxxxxxx | $521 | Jan 2025 | 2.5% | 84.0% |
| xxx xx | xxx | $13,954 | Dec 2023 | 2.3% | 87.3% |
| xxxx xx | xxxxxxx xxxxx x xxxxxxxx | $8,898 | May 2020 | 2.1% | 93.1% |
| xx xx | xxxxx xxxxxxxxx | $1,987 | May 2020 | 2.1% | 91.4% |
| xxxxxx xx | xxxx xxxx xxxx | $863 | May 2020 | 2.1% | 88.6% |
| xxxx xx | xxx xxx xxxx | $2,505 | May 2020 | 2.0% | 83.8% |
| xxxxxx xx | xxxxxxxx xxxxxx xxxx | $1,016 | Dec 2020 | 2.0% | 66.0% |
Sector and Market Cap Exposure
| Sector | Weight |
|---|---|
| Real Estate | 27.6% |
| Industrials | 22.1% |
| Financials | 18.0% |
| Consumer Staples | 11.8% |
| Information Technology | 6.9% |
| Energy | 5.0% |
| Consumer Discretionary | 4.9% |
| Health Care | 2.0% |
| Communication Services | 1.6% |
| Materials | 0.0% |
| Utilities | 0.0% |
| Market Cap | Weight |
|---|---|
| Small (<1B) | 25.6% |
| Medium (1-3B) | 31.9% |
| Large (>3B) | 42.4% |
| Average | $8,232 |
| Median | $2,505 |
Disclaimer
The information, data, and materials presented on this website are provided for informational purposes only and do not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any financial product. The analysis is based solely on Smartkarma’s proprietary research and data. No third-party data sources have been used in the creation or dissemination of these Indices unless otherwise stated explicitly. Unauthorized reproduction, redistribution, or systematic retrieval of any content on this website—whether in whole or in part—is strictly prohibited without prior written permission from Smartkarma. However, brief excerpts or references may be used with appropriate attribution to Smartkarma, provided such use does not distort the original context. While Smartkarma makes reasonable efforts to ensure the accuracy and timeliness of the information presented, no warranty, express or implied, is given as to its accuracy, completeness, or suitability for any particular purpose. Smartkarma accepts no liability for any loss or damage arising from the use of or reliance on this information. Past performance is not indicative of future results. The Indices do not guarantee any return and should not be used as the sole basis for any investment decision. Smartkarma reserves the right to modify, suspend, or discontinue any aspect of the Indices or this website at any time without notice.
Copyright © Smartkarma. No reproduction in whole or in part without explicit written permission.