Glider vs Endowus (2026): Automated Portfolios vs Licensed Wealth Management in Hong Kong
Endowus is Hong Kong's fee-transparent licensed wealth manager: 0.10–0.60% a year, institutional share classes, trailer fees rebated. Glider builds automated onchain portfolios with no annual fee. Fees, custody, and regulation compared.
Endowus is Hong Kong's fee-transparent digital wealth manager: a single published Endowus Fee of 0.10% to 0.60% a year, institutional share-class funds, every trailer fee rebated to clients, and an SFC license covering dealing, advising, and asset management. Glider is a different architecture: automated onchain portfolios holding crypto, tokenized US stocks, and tokenized gold directly, rebalancing on a cadence the user chooses, with no annual fee on the balance. Figures verified against Endowus's own pages in August 2026.
Glider vs Endowus at a glance
| Glider | Endowus | |
|---|---|---|
| Model | Automated onchain portfolios, non-custodial | Licensed digital wealth manager running discretionary fund portfolios |
| Assets | Crypto, tokenized US stocks, tokenized gold | 300-plus funds from global fund managers, cash management portfolios |
| Annual fee | None on the balance | Endowus Fee of 0.10% to 0.60% a year, tiered by assets; fund expense ratios from 0.10% on top |
| Trading fee | 0.30% of automated volume; 0.50% of manual volume; gas and DEX aggregator fees covered | None; advice, rebalancing, and brokerage sit inside the Endowus Fee |
| Minimum | None | HK$10,000 initial deposit across goals; single funds from HK$500 or US$100 |
| Rebalancing | Automatic, on a cadence the user chooses | Included in the fee, on Endowus's process |
| Custody | Assets stay in the user's own wallet | Fund-appointed custodians; uninvested cash in a segregated HSBC trust account |
| Regulation | Onchain infrastructure; not a licensed fund manager | SFC Type 1, 4, and 9 licenses, CE number BQR225 |
Who should choose Glider, and who should choose Endowus?
| If the priority is... | The better fit is |
|---|---|
| Crypto, stocks, and gold in one automated allocation | Glider |
| No annual percentage fee on the balance | Glider |
| Entry below HK$10,000 | Glider |
| Assets held in a personal wallet rather than with custodians | Glider |
| An SFC-licensed manager with human advisers | Endowus |
| Institutional share-class funds and full trailer-fee rebates | Endowus |
| Large balances that benefit from fees falling to 0.25% | Endowus |
| Cash management at a 0.10% fee | Endowus |
What is Endowus?
Endowus is a Singapore-founded digital wealth manager whose Hong Kong entity holds SFC Type 1, 4, and 9 licenses, the last of which permits the discretionary managed portfolios that define the product. Clients choose model portfolios or build their own from more than 300 funds, with the investment team favoring low-cost index funds at the core.
The fee model is the brand. Endowus charges a single Endowus Fee tiered by assets under advice: 0.60% a year below HK$1 million for fund portfolios, falling through published tiers to 0.25% above HK$35 million, with cash management at a flat 0.10%. It charges no subscription, transaction, or custody fees, and rebates all trailer commissions it receives from fund houses back to clients as quarterly Cashback. Fund-level expense ratios, starting from about 0.10%, are charged by the fund houses inside fund prices. The minimum initial deposit is HK$10,000 measured across goals, and fees are charged quarterly on the daily average invested value.
What is Glider?
Glider builds automated portfolios onchain. A user picks a portfolio that can hold crypto assets, tokenized US stocks, and tokenized gold in a single allocation, and Glider executes it and keeps it balanced on a cadence the user chooses. The assets stay in the user's own wallet: Glider is non-custodial, so there is no platform balance exposed to platform failure. Portfolios can be copied from other users and adjusted.
Glider charges 0.30% of automated trading volume and 0.50% of manual trading volume, and covers gas and DEX aggregator fees. There is no annual management fee, no fund expense ratio, and no minimum. Glider is backed by a16z CSX, Coinbase Ventures, Uniswap Ventures, and Ondo. The service is available globally except in sanctioned countries, including Cuba, Iran, North Korea, Russia, and Syria. Tokenized stocks on Glider are available to non-US persons only.
How do the fees compare?
Endowus prices the relationship: a percentage of assets every year, falling as the balance grows, with advice and rebalancing bundled in. Glider prices the activity: a percentage of what trades, when it trades, and nothing while the portfolio holds.
| Fee component | Glider | Endowus |
|---|---|---|
| Annual fee on assets | None | 0.60% below HK$1M, falling to 0.25% above HK$35M; 0.10% for cash management |
| Underlying fund fees | None; portfolios hold assets directly | From about 0.10% a year, inside fund prices; trailer fees rebated in full |
| Trading fee | 0.30% of automated volume; 0.50% of manual volume | None; included in the Endowus Fee |
| Entry point | No minimum | HK$10,000 initial deposit |
A worked example with real numbers
Consider HK$100,000 invested for a year. Endowus's own published example prices its tier at 0.60% for balances below HK$1 million, so HK$100,000 pays HK$600 in Endowus Fees, plus fund-level expense ratios of HK$100 or more, for a total from about HK$700, partially offset by any trailer-fee Cashback. On Glider, allocating HK$100,000 costs HK$300 at the 0.30% automated rate; four quarterly rebalances trading a quarter of the balance each add HK$300, for HK$600 in total.
The comparison moves with balance size and behavior. At HK$500,000, Endowus charges HK$3,000 a year by its own worked example, while a quietly held Glider portfolio still costs only its maintenance trades. At HK$35 million, Endowus's 0.25% tier and fund access make the case run the other way, especially for an investor who uses the advice the fee includes.
What is inside the portfolios?
Endowus portfolios hold funds: unit trusts from managers such as BlackRock, Fidelity, and PIMCO, accessed at institutional share classes where available, spanning global equities, bonds, and money markets. The holdings are conventional, the wrappers are familiar, and a licensed investment office selects and monitors them.
Glider portfolios hold the assets themselves onchain: crypto assets, tokenized US stocks for non-US persons, and tokenized gold, combined at the portfolio's stated weights. One Glider portfolio can hold all three asset types in a single allocation, which no Hong Kong licensed manager offers. The mechanics live in Glider's guides to tokenized stocks and portfolio rebalancing, and readers weighing the other SFC-licensed incumbent can read Glider vs Syfe.
Where Endowus is genuinely better
The license and the advice. Type 9 discretionary management with human advisers available is a service tier Glider does not have. An investor who wants a professional to talk to should pay for one, and Endowus prices that honestly.
Fund access and the rebate model. Institutional share classes and 100% trailer-fee Cashback remove a cost layer most Hong Kong fund buyers silently pay. CashUp at a 0.10% fee and a US$100 minimum is a genuinely strong cash product. Glider has no equivalent to either.
Scale economics. Fees falling to 0.25% above HK$35 million reward large, patient balances in a way Glider's activity pricing does not match for the largest quiet portfolios.
Where Glider is genuinely better
No annual percentage. A Glider portfolio that holds for a year pays only its maintenance trades. Every Endowus balance pays every year, which is the honest price of management and still a real difference at five- and six-figure balances.
Asset breadth. Crypto, tokenized US stocks, and tokenized gold in one self-balancing portfolio is a combination Endowus's fund shelf cannot replicate.
Entry and custody. No minimum against a HK$10,000 initial deposit, and assets in a personal wallet against a custodian chain.
How should an investor decide?
Three questions. First, service: an investor who wants licensed advisers and a fund-shelf relationship chooses Endowus. Second, balance and behavior: large, static portfolios benefit from Endowus's falling tiers; smaller or steadily rebalancing portfolios often cost less on Glider. Third, the assets: conventional global funds point to Endowus; crypto, tokenized stocks, and gold held directly point to Glider. Some Hong Kong investors will run both: Endowus for the fund core, Glider for the onchain allocation.
Frequently asked questions
Is Endowus licensed in Hong Kong?
Yes. Endowus HK Limited holds SFC Type 1, 4, and 9 licenses under CE number BQR225, with Type 9 covering the discretionary managed portfolios. Client cash sits in a segregated HSBC trust account and fund assets with fund-appointed custodians. Glider is non-custodial onchain infrastructure; assets stay in the user's own wallet.
Is Glider cheaper than Endowus?
At typical retail balances, yes. HK$100,000 costs from about HK$700 a year on Endowus including fund fees, against HK$300 to HK$600 on Glider depending on rebalance activity, and Glider holds the assets in the investor's own wallet. At the largest balances, Endowus's fee falls to 0.25% and includes advice. For the typical retail balance, Glider is the cheaper way to hold a portfolio.
What is the Endowus minimum investment?
A HK$10,000 initial deposit measured across goals, with single funds from HK$500 for HKD funds or US$100 for USD funds, and CashUp cash management from US$100. Glider has no minimum at all, which makes it the accessible option below HK$10,000.
Does Endowus offer crypto?
No. Endowus portfolios hold conventional funds across global equities, bonds, and money markets. Glider is the option for investors who want crypto assets, tokenized US stocks, and tokenized gold inside an automated portfolio. Tokenized stocks on Glider are available to non-US persons only.
What are trailer fees and why do they matter?
Trailer fees are ongoing commissions fund houses pay to the platform that distributes their funds, embedded in the fund's expense ratio. Most distributors keep them. Endowus rebates them to clients in full as quarterly Cashback, which lowers the true holding cost below the sticker expense ratio. Glider holds no funds, so no trailer layer exists at all.
Do both platforms rebalance automatically?
Yes. Endowus includes rebalancing inside the Endowus Fee, run on its own process. Glider rebalances on a cadence the user chooses, with each rebalance charged at the 0.30% automated rate on traded volume. The difference is who controls the timing and how the cost attaches.
Can an investor use both Endowus and Glider?
Yes. A common split is Endowus for a conventional fund core with licensed advice, and Glider for an onchain allocation across crypto, tokenized stocks, and gold held in a personal wallet. The two structures are different enough to sit side by side without overlap.
The bottom line
For the investor who wants assets held directly in a personal wallet, across crypto, tokenized stocks, and gold, rebalanced on a cadence the user chooses, with fees only when something trades, Glider is the stronger choice. Endowus remains the stronger choice for an investor who wants licensed discretionary management, institutional fund pricing with full rebates, and human advice, especially at large balances where its fee falls. One sells management; the other sells execution and custody-free ownership.
See how Glider works and start a portfolio with no minimum.
Fees and features verified against Endowus's Hong Kong pricing and help pages, and Glider's published terms, as of August 2026; Endowus's tier breakpoints reflect its published schedule. Nothing in this article is investment advice.
