Australian Hybrids Active ETF
Overview
Fund Objective
HBRD aims to provide investors with attractive monthly income from an actively managed diversified portfolio of hybrids, subordinated bonds, senior bonds and cash. The Fund is overseen by a professional manager that can allocate tactically between these investment types.
Benefits
Professionally managed with a focus on income and risk
HBRD is managed by Coolabah Capital, one of Australia’s leading fixed income managers.
Attractive, tax-efficient income paid monthly
HBRD pays income monthly at a rate expected to be significantly higher than cash along with the potential for franking credits.
Active management – beyond bank hybrids
HBRD has the flexibility to invest in Australian bank hybrids, hybrids from other issuers, and other securities higher up in the capital structure.
There are risks associated with an investment in HBRD, including interest rate risk, credit risk, hybrids complexity risk and sector concentration risk. Investment value can go up and down. An investment in the Fund should only be considered as a part of a broader portfolio, taking into account your particular circumstances, including your tolerance for risk. For more information on risks and other features of the Fund, please see the Product Disclosure Statement and Target Market Determination, both available on this website.
Invest in HBRD with Betashares Direct
Key facts
Profile
| Units outstanding* (#) | 238,430,677 |
|---|---|
| Management fee and cost** (p.a.) | 0.55% |
| Investment manager | Coolabah Capital Institutional Investments Pty Ltd |
| Distribution frequency | Monthly |
| Distribution reinvestment plan (DRP) | Full or partial participation available |
| Issuer | Betashares Capital Ltd |
| Registry | MUFG Corporate Markets |
| Domicile | Australia |
* As at 27 June 2025
**Certain additional costs apply, including a fee of 15.5% of outperformance above a benchmark.
Pricing information
| Current price | |
|---|---|
| Last trade* | |
| % Change (prev day) | |
| Bid (delayed) | |
| Offer (delayed) | |
| * Data is delayed by at least 20 minutes. | |
| NAV | |
|---|---|
| NAV/Unit* | $10.12 |
| iNAV (live)** | |
|
* As at 27 June 2025
* As at 19 December 2023 10:17 AM |
|
Past performance is not indicative of future performance. Please refer to "Fund returns after fees" for additional information regarding performance/return information.
Trading information
| ASX code | HBRD |
|---|---|
| Bloomberg code | HBRD AU |
| IRESS code | HBRD.AXW |
| iNAV IRESS code | HBRD-AUINAV |
| Market makers | Citigroup Global Markets |
Index information
| Index | Solactive Australian Hybrid Securities Index |
|---|---|
| Index provider | Solactive AG |
| Index ticker | HBRD |
| Bloomberg index ticker | SOLAUDHN Index |
Performance
Fund returns after fees (%)
| Fund (Net) | Fund (Gross) | Index | |
|---|---|---|---|
| 1 month | 0.78% | 0.82% | 0.08% |
| 3 months | 0.73% | 0.87% | 0.38% |
| 6 months | 2.12% | 2.55% | 1.34% |
| 1 year | 5.90% | 6.61% | 5.27% |
| 3 year p.a. | 5.34% | 6.26% | 5.05% |
| 5 year p.a. | 4.59% | 5.47% | 4.59% |
| 10 year p.a. | - | - | - |
| Since inception p.a. | 4.13% | 5.06% | 4.13% |
| Inception date | 13-Nov-17 | - | - |
Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown. Net refers to total return performance net of management fees and net of franking credits, Gross refers to total return performance net of management fees and inclusive of franking credits.
Portfolio characteristics
| Gross running yield (% p.a.) | 5.53 |
|---|---|
| Net running yield (% p.a.) | 5.31 |
| All-in yield (% p.a.) | 5.00 |
| Estimated yield to worst (% p.a.) | 4.68 |
| Discount margin (bps) | 131.67 |
* As at 30 June 2025
Holdings and allocation
Portfolio holdings
| Name (in alphabetical order) |
|---|
| AN3PL |
| ANZ 6.124 07/25/39 CORP |
| ANZ FLOAT 05/16/33 CORP |
| CBAAU FLOAT 04/14/32 CORP |
| CBAAU FLOAT 09/10/30 |
| NAB FLOAT 11/18/31 CORP |
| WBCPH |
| WBCPM |
| WSTP FLOAT 01/29/31 CORP |
| WSTP FLOAT 06/23/33 CORP |
Sector allocation
| Preference Shares | 14.8% |
|---|---|
| Capital Notes | 0.0% |
| Sub Bonds | 56.0% |
| Senior Bonds | 28.2% |
| Cash | 1.0% |
* As of 30 May 2025
Distributions
Frequency and yield
| Distribution frequency | Monthly |
|---|---|
| 12 mth distribution yield* | 5.7% |
| 12 mth gross distribution yield* | 6.4% |
| Franking level | 27.4% |
*As at 30 May 2025. Yield is calculated by summing the prior 12-month per unit distributions divided by the closing NAV per unit at the end of the relevant period. Yield will vary and may be lower at time of investment. Franking level is total franking level over the last 12 months. Past performance is not indicative of future performance.
You can elect DRP by logging into MUFG’s Investor Centre. Once you are logged in, please proceed to the 'Payments and Tax' tab and select 'Reinvestment Plans'.
Recent distributions
| Ex Date | Record Date | Payment Date | Distribution Unit ($) | Annual Distribution Return (%) (1) |
|---|---|---|---|---|
| 2-Jun-25 | 3-Jun-25 | 18-Jun-25 | $0.045538 | 5.83% |
| 1-May-25 | 2-May-25 | 16-May-25 | $0.045538 | 5.83% |
| 1-Apr-25 | 2-Apr-25 | 16-Apr-25 | $0.04713 | 5.96% |
| 3-Mar-25 | 4-Mar-25 | 18-Mar-25 | $0.043509 | 5.98% |
| 3-Feb-25 | 4-Feb-25 | 18-Feb-25 | $0.048686 | 6.02% |
| 2-Jan-25 | 3-Jan-25 | 17-Jan-25 | $0.051696 | 6.07% |
| 2-Dec-24 | 3-Dec-24 | 17-Dec-24 | $0.046322 | 6.03% |
| 1-Nov-24 | 4-Nov-24 | 18-Nov-24 | $0.050039 | 6.08% |
| 1-Oct-24 | 2-Oct-24 | 16-Oct-24 | $0.049907 | 6.04% |
| 2-Sep-24 | 3-Sep-24 | 17-Sep-24 | $0.047828 | 5.99% |
| 1-Aug-24 | 2-Aug-24 | 16-Aug-24 | $0.05319 | 5.98% |
| 1-Jul-24 | 2-Jul-24 | 16-Jul-24 | $0.045174 | 5.95% |
| 3-Jun-24 | 4-Jun-24 | 19-Jun-24 | $0.04981 | 5.96% |
| 1-May-24 | 2-May-24 | 16-May-24 | $0.053281 | 5.89% |
| 2-Apr-24 | 3-Apr-24 | 17-Apr-24 | $0.045294 | 5.74% |
| 1-Mar-24 | 4-Mar-24 | 18-Mar-24 | $0.046506 | 5.63% |
| 1-Feb-24 | 2-Feb-24 | 16-Feb-24 | $0.053104 | 5.48% |
| 2-Jan-24 | 3-Jan-24 | 17-Jan-24 | $0.046564 | 5.34% |
| 1-Dec-23 | 4-Dec-23 | 18-Dec-23 | $0.0473 | 5.27% |
| 1-Nov-23 | 2-Nov-23 | 16-Nov-23 | $0.049331 | 5.19% |
| 2-Oct-23 | 3-Oct-23 | 17-Oct-23 | $0.044514 | 5.01% |
| 1-Sep-23 | 4-Sep-23 | 18-Sep-23 | $0.048083 | 4.90% |
| 1-Aug-23 | 2-Aug-23 | 16-Aug-23 | $0.047929 | 4.76% |
| 3-Jul-23 | 4-Jul-23 | 18-Jul-23 | $0.044209 | 4.57% |
| 1-Jun-23 | 2-Jun-23 | 19-Jun-23 | $0.046031 | 4.27% |
| 1-May-23 | 2-May-23 | 16-May-23 | $0.038526 | 4.00% |
| 3-Apr-23 | 4-Apr-23 | 20-Apr-23 | $0.041339 | 3.79% |
| 1-Mar-23 | 2-Mar-23 | 16-Mar-23 | $0.035867 | 3.61% |
| 1-Feb-23 | 2-Feb-23 | 16-Feb-23 | $0.040514 | 3.45% |
| 3-Jan-23 | 4-Jan-23 | 18-Jan-23 | $0.036987 | 3.24% |
| 1-Dec-22 | 2-Dec-22 | 16-Dec-22 | $0.035521 | 3.07% |
| 1-Nov-22 | 2-Nov-22 | 16-Nov-22 | $0.036406 | 2.88% |
| 3-Oct-22 | 4-Oct-22 | 18-Oct-22 | $0.031397 | 2.75% |
| 1-Sep-22 | 2-Sep-22 | 16-Sep-22 | $0.031331 | 2.62% |
| 1-Aug-22 | 2-Aug-22 | 16-Aug-22 | $0.027381 | 2.51% |
| 1-Jul-22 | 4-Jul-22 | 18-Jul-22 | $0.023981 | 2.41% |
| 1-Jun-22 | 2-Jun-22 | 17-Jun-22 | $0.022398 | 2.43% |
| 2-May-22 | 3-May-22 | 17-May-22 | $0.019598 | 2.45% |
| 1-Apr-22 | 4-Apr-22 | 20-Apr-22 | $0.021106 | 2.48% |
| 1-Mar-22 | 2-Mar-22 | 16-Mar-22 | $0.018897 | 2.50% |
| 1-Feb-22 | 2-Feb-22 | 16-Feb-22 | $0.021 | 2.51% |
| 4-Jan-22 | 5-Jan-22 | 19-Jan-22 | $0.02092 | 2.55% |
| 1-Dec-21 | 2-Dec-21 | 16-Dec-21 | $0.02143 | 2.55% |
| 1-Nov-21 | 2-Nov-21 | 16-Nov-21 | $0.019605 | 2.35% |
| 1-Oct-21 | 4-Oct-21 | 18-Oct-21 | $0.020603 | 2.15% |
| 1-Sep-21 | 2-Sep-21 | 16-Sep-21 | $0.022351 | 2.17% |
| 2-Aug-21 | 3-Aug-21 | 17-Aug-21 | $0.02106 | 2.17% |
| 1-Jul-21 | 2-Jul-21 | 16-Jul-21 | $0.021293 | 2.19% |
| 1-Jun-21 | 2-Jun-21 | 17-Jun-21 | $0.021849 | 2.21% |
| 3-May-21 | 4-May-21 | 18-May-21 | $0.021557 | 2.24% |
| 1-Apr-21 | 6-Apr-21 | 20-Apr-21 | $0.023637 | 2.29% |
| 1-Mar-21 | 2-Mar-21 | 16-Mar-21 | $0.020112 | 2.32% |
| 1-Feb-21 | 2-Feb-21 | 16-Feb-21 | $0.020359 | 2.47% |
| 4-Jan-21 | 5-Jan-21 | 19-Jan-21 | $0.022321 | 2.45% |
| 1-Dec-20 | 2-Dec-20 | 16-Dec-20 | $0.022331 | 2.93% |
| 2-Nov-20 | 3-Nov-20 | 17-Nov-20 | $0.02148 | 2.95% |
| 1-Oct-20 | 2-Oct-20 | 16-Oct-20 | $0.021972 | 2.96% |
| 1-Sep-20 | 2-Sep-20 | 16-Sep-20 | $0.02278 | 3.00% |
| 3-Aug-20 | 4-Aug-20 | 18-Aug-20 | $0.022837 | 3.01% |
| 1-Jul-20 | 2-Jul-20 | 16-Jul-20 | $0.024746 | 3.05% |
| 1-Jun-20 | 2-Jun-20 | 17-Jun-20 | $0.023996 | 3.10% |
| 1-May-20 | 4-May-20 | 18-May-20 | $0.025361 | 3.16% |
| 1-Apr-20 | 2-Apr-20 | 20-Apr-20 | $0.027726 | 3.15% |
| 2-Mar-20 | 3-Mar-20 | 17-Mar-20 | $0.023637 | 3.33% |
| 3-Feb-20 | 4-Feb-20 | 18-Feb-20 | $0.026352 | 3.46% |
| 2-Jan-20 | 3-Jan-20 | 17-Jan-20 | $0.027436 | 3.55% |
| 2-Dec-19 | 3-Dec-19 | 17-Dec-19 | $0.024604 | 3.64% |
| 1-Nov-19 | 4-Nov-19 | 18-Nov-19 | $0.024476 | 3.71% |
| 1-Oct-19 | 2-Oct-19 | 16-Oct-19 | $0.026073 | 3.81% |
| 2-Sep-19 | 3-Sep-19 | 17-Sep-19 | $0.026548 | 3.85% |
| 1-Aug-19 | 2-Aug-19 | 16-Aug-19 | $0.027872 | 4.34% |
| 1-Jul-19 | 2-Jul-19 | 16-Jul-19 | $0.028742 | 4.42% |
| 3-Jun-19 | 4-Jun-19 | 19-Jun-19 | $0.031561 | 4.40% |
| 1-May-19 | 2-May-19 | 16-May-19 | $0.033066 | 4.44% |
| 1-Apr-19 | 2-Apr-19 | 16-Apr-19 | $0.031746 | 4.32% |
| 1-Mar-19 | 4-Mar-19 | 18-Mar-19 | $0.030645 | 4.23% |
| 1-Feb-19 | 4-Feb-19 | 18-Feb-19 | $0.033404 | 4.29% |
| 2-Jan-19 | 3-Jan-19 | 17-Jan-19 | $0.033116 | 4.45% |
| 3-Dec-18 | 4-Dec-18 | 18-Dec-18 | $0.031356 | - |
| 1-Nov-18 | 2-Nov-18 | 16-Nov-18 | $0.034987 | - |
| 1-Oct-18 | 2-Oct-18 | 16-Oct-18 | $0.030239 | - |
| 3-Sep-18 | 4-Sep-18 | 18-Sep-18 | $0.033114 | - |
| 1-Aug-18 | 2-Aug-18 | 16-Aug-18 | $0.03496 | - |
| 2-Jul-18 | 3-Jul-18 | 17-Jul-18 | $0.031791 | - |
| 1-Jun-18 | 4-Jun-18 | 19-Jun-18 | $0.033224 | - |
| 1-May-18 | 2-May-18 | 16-May-18 | $0.034117 | - |
| 3-Apr-18 | 4-Apr-18 | 18-Apr-18 | $0.030221 | - |
| 1-Mar-18 | 2-Mar-18 | 16-Mar-18 | $0.028838 | - |
| 1-Feb-18 | 2-Feb-18 | 16-Feb-18 | $0.033234 | - |
| 2-Jan-18 | 3-Jan-18 | 17-Jan-18 | $0.048067 | - |
1 This is the annual distribution return to the end of the relevant distribution date. The distribution return reflects the contribution to total investment return made by the Fund's distributions. Distribution return is calculated as the total return less the growth return. Total return is calculated as the percentage change in a continuing investor's interest in the Fund assuming reinvestment of all distributions back into the Fund (and no other application or withdrawal), net of ongoing fees. Growth return is the Fund's return excluding distributions, net of ongoing fees. Past performance is not indicative of future performance
Announcements
ASX Announcements: HBRD
Payment notice information
NRWT & fund payments
| Document | Date |
|---|---|
| 2025-05 | |
| 2025-04 | |
| 2025-03 | |
| 2025-02 | |
| 2025-01 | |
| 2024-12 | |
| 2024-11 | |
| 2024-10 | |
| 2024-09 | |
| 2024-08 | |
| 2024-07 | |
| 2024-06 | |
| 2024-05 | |
| 2024-04 | |
| 2024-03 |