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Australians get a harsh shock when they open their retirement statements. For most, it was a rare year of loss. Only three funds ended up black. Callum Foote and Michael West investigate super returns and the best performing fund of all, Hostplus. It’s an obvious thing, but it’s still of no value. When interest rates rise, the stock market tends to fall. And that’s exactly what happened to the savings of millions of Australians for the year to June. Opening our pension fund letter, we found that our scores were lower than the previous year. The stock market decline has been compounded by an unusual phenomenon; bonds also fell. Bonds are an important part of a “balanced” super portfolio, and when bond yields (interest rates on debt) rise, bond prices fall. The good news is the market has bounced since then, so the positive returns over the past seven weeks should send most of us back into the dark. Tracing the league tables, historic trends prevail, even in this turbulent year

Sarah Gonzales (SELLING): For me, it also sells. As Felicity mentioned, it doesn’t expose you to the spot price of oil, it exposes you to futures contracts. This is a fully synthetic ETF. For us, we are trying to stay away from 100 percent synthetic ETFs and oil prices have increased a bit. It’s very difficult to see it continue in the next 12 months. Selby Allies: It’s actually already sold out, down about 22 percent over the past month. BetaShares Global Energy Company ETF (ASX: FUEL) Selby Allies: We’ll talk about our ETFs next. This is FUEL, the BetaShares Global Energy Company ETF. It returned about 59.24 percent over the 12 months to the end of May. Stay with you Sarah. Is it buy, hold or sell? Sarah Gonzales (SELLING): Again, this is a sale for me, and for reasons similar to the first. Oil and gas prices have risen quite high. This ETF gives oil and gas companies exposure across the supply chain, but they are still exposed to the price of that oil. Selby Allies: T