Syfe vs Endowus: Which Should You Use To Invest?

In recent years, robo-advisors have become more popular among people who are new and unfamiliar to investing.

These digital wealth management platforms use algorithms and data to help users find the best investment strategy, and automatically invest in it.

When you open an account with a robo-advisor, it asks for your target return, investment timeframe, and risk tolerance to find you the most suitable investment portfolio.

There is less individual involvement compared to using a financial advisor or broker as these robo-advisors automatically rebalance your portfolio when the market shifts, which could appeal to those who prefer to invest passively.

The fees robo-advisors charge are also usually lower than the typical wealth manager.

What is Syfe?

Founded in 2017, Syfe is a robo-advisor based in Singapore, licensed by the Monetary Authority of Singapore (MAS) under a Capital Markets Services License.

Syfe offers seven fully managed investment portfolios with no minimum investment amounts or lock-in periods. It aims to cater to investors with varying experience levels and investment objectives.

What is Endowus?

Like Syfe, Endowus is also licensed by the MAS under the Capital Markets Services License.

The digital wealth manager aims to provide investment services at the lowest cost possible and is Singapore’s only robo-advisor that allows you to invest your Central Provident Fund (CPF) savings.

Key Features

Type of ProductsFocuses on exchange-traded funds (ETFs) and real estate investment trusts (REITs).

Most of the ETFs are listed on the US exchanges — except for the iShares Core S&P 500 UCITS ETF (CSPX), which is domiciled in Ireland.

Syfe REIT+ invests in Singapore REITs.

Focuses on mutual funds managed by well-known firms such as:

1. Pimco
2. Dimensional
3. Eastspring Investments
4. First Sentier Investors
5. Vanguard
6. Schroders

Investment StrategiesETFs are selected based on these three factors:

1. Growth & Value
2. Volatility
3. Country Exposure

Investment allocation is based on these two factors:

1. Core portfolio that serves as a foundation to accumulate wealth
2. Conviction-based portfolio that is riskier but can potentially reap larger returns in the long run

Dividend DistributionYes, but any ETF dividends issued incur a 30% dividend withholding tax.

REITs do not incur any tax.

No, the dividends that you receive are automatically reinvested. The dividends are subjected to the 15% withholding tax.
PlatformsBoth web and mobile
Both web and mobile
Minimum InvestmentNone
S$1,000 (Initial)
S$100 (Subsequent)
Account to Handle AssetsFunds are held in a DBS Trust Account while your investments are kept in a Saxo Capital Markets Custodian Account.

Funds and investments are held in a UOB Kay Hian account under your name.

This gives you complete control of your assets in case Endowus shuts down.

Methods of FundingCash only
Cash, CPF, and Supplementary Retirement Scheme (SRS)
Investment FeesLess than $20,000: 0.65%
$20,000 to $100,000: 0.50%
More than $100,000: 0.40%

Flat 0.3% for Fund Smart portfolio that only has a single fund regardless of whether you are using Cash, CPF, or SRS.

Flat 0.4% for investments using CPF and SRS.

For cash investments, Endowus has a tiered pricing structure:

Up to S$200,000: 0.6%
S$200,000 to S$1,000,000: 0.5%
S$1,000,001 to S$5,000,000: 0.35%
S$5,000,000 and above: 0.25%

Cash Management Fees0%0.05%

Investment and Cash Management Portfolios

Both Robo advisors offer investment and cash management portfolios.

Investment portfolios allow you to invest and grow your wealth over a long period of time, while cash management portfolios aim to provide higher returns compared to a traditional bank account and give you the flexibility to withdraw at any time.


REIT+ tracks the Singapore Exchange-listed iEdge S-REIT Leaders Index that measures the performance of the largest and most tradable REITs in Singapore.

You can choose between 100% REITs or REITs with Risk Management. The latter uses algorithms to minimise fluctuations in your portfolio.

The Equity100 portfolio invests in equity ETFs. As the majority of the portfolio is in stocks, there will be considerable volatility. However, this portfolio has the highest risk-to-reward ratio among all the portfolios.

The Core portfolio invests in a mix of equities, bonds, and commodities.

You can choose from 3 different profiles:
1. Defensive (20% equities; lowest risk)
2. Balanced (40% equities)
3. Growth (70% equities; highest risk)

Cash+ offers 3 different funds:
1. LionGlobal SGD Money Market Fund
2. LionGlobal SGD Enhanced Liquidity Fund SGD
3. LionGlobal Short Duration Bond Fund
You can choose one of five thematic portfolios to supplement your core portfolio:
ESG & Clean Energy
Disruptive Technology
Healthcare Innovation
China Growth
Global Income

The Flagship portfolio allocates your money into two asset classes:
1. Equities
2. Fixed IncomeYou can choose from six risk tolerance levels, ranging from very aggressive (100% equities) to very conservative (100% fixed income).

Environmental, Social, and Governance (ESG)
The ESG portfolio is similar to the Flagship portfolio, but also considers sustainability and social factors in its investments.
The Income portfolio invests in a mix of equities and fixed income that provides a monthly payout. It offers three different profiles depending on your risk appetite:
Stable Income (100% fixed income)
Higher Income (20% equities, 80% fixed income)
Future Income (40% equities, 60% fixed income)
A suite of portfolios that Endowus introduced to allow investors to gain exposure to market opportunities in:
1. Technology
2. China Equities
3. China Fixed Income
4. Global Real Estate
5. Megatrends
6. Low Volatility Fixed Income
Fund Smart
Fund Smart allows you to customise your long-term investment portfolio and let you decide on the unit trusts to invest in and the respective allocation. It offers access to over 200 unit trusts.
Cash Smart

Cash Smart, which caters for short-term investments, offers 3 different portfolios:
1. Cash Smart Secure (lowest risk)
2. Cash Smart Enhanced
3. Cash Smart Ultra (highest risk)You can also customise your Cash Smart portfolio according to your preference.


Both robo-advisors offer a variety of portfolios that cater to varying needs. It is hard to say which is better than the other.

If you do not have enough upfront cash to invest, you can go with Syfe since it does not require a minimum investment sum.

And if you prefer to invest your CPF funds, you can select Endowus.

Read more: A Beginner’s Guide to Investing with Robo Advisors in Singapore


Syfe: You can sign up for a Syfe account here. Use the promo code BEEWAIVER to get a management fee waiver for the first 6 months. Eligible for investments up to $30,000.

Endowus: You can sign up here.


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