Has anybody thought of this idea as a way of currency hedging?
Use your SGD cash to buy MBH with Interactive Brokers and use margin to buy IWDA.
You pay whatever the USD margin rate is with IBKR so for 1yr you pay like 1.7% or whatever and earn a yield from MBH which is decent 2%. So you kind of dont have to ever worry about currency conversions. Any excess cash you have you just sweep it into your IBKR account and keep buying MBH and then every month you buy IWDA as per your DCA plan.
The main advantage I see here is you never have to look at exchange rates ever. USDSGD can keep going up and down as much as it wants and you are pretty much insulated from it.
Edit: I just realized, IBKR SG margin rate is 2.6% for USD, 1 full percentage point higher than IBKR LLC, so that kind of screws up the plan