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BetaShares Australian Bank Senior Floating Rate Bond ETF
Opportunity to earn attractive monthly income, combined with a high level of capital stability from a quality portfolio of senior floating rate bonds issued by Australian banks.
OVERVIEW
Fund Objective
QPON aims to track the performance of an index (before fees and expenses) that measures the performance of a portfolio of some of the largest and most liquid senior floating rate bonds issued by Australian banks.
Fund Strategy
Eligible bonds must have amounts outstanding of at least $500 million and a term to maturity of between 1 to 5 years, with up to 80% of the portfolio allocated to bonds issued by the ‘big 4’ Australian banks (equal weighted) and up to 20% of the portfolio allocated to other major Australian banks.
Benefits of QPON
Regular, attractive income
Income paid monthly, and expected to exceed the income paid on cash and short-dated term deposits. If interest rates increase, so too does the income you receive and vice versa.
Capital stability
Australian bank senior floating rate bonds historically have had a high level of capital stability, and limited capital variability in equity market declines.
Defensive characteristics
Floating rate bonds have historically exhibited low correlation to equities, as well as defensive characteristics during market declines.How to Invest
- You can buy or sell units just like you’d buy or sell any share on the ASX.
- Fund requires no minimum investment.
KEY FACTS
Pricing Information 17 January 2022
| Current Price | |
|---|---|
| Last Trade* | - |
| % Change (prev day) | - |
| Bid (delayed) | - |
| Offer (delayed) | - |
* Data is delayed by at least 20 minutes.
Download NAV history
| NAV | |
|---|---|
| NAV/Unit* | $25.84 |
* As at 14 January 2022
Profile
| Net Assets* ($A) | $691,183,938 |
| Units Outstanding* (#) | 26,752,492 |
| Mgmt Costs** (% p.a.) | 0.22% |
| Distribution Frequency | Monthly |
| Distribution Reinvestment Plan (DRP) | Full or partial participation available |
| Issuer | BetaShares Capital Ltd |
| Fund Administrator | Citigroup Pty Limited |
| Custodian | Citigroup Pty Limited |
| Registry | Link Market Services |
| Auditor | KPMG |
* As at 14 January 2022
**Certain additional costs apply. Please refer to PDS.
Trading Information
| ASX Code | QPON |
| Bloomberg Code | QPON AU |
| IRESS Code | QPON.AXW |
| Trading Hours | 10.00-16.00 (AEST) |
Index Information
| Index | Solactive Australian Bank Senior Floating Rate Bond Index |
| Index Provider | Solactive AG |
| Index Ticker | N/A |
| Bloomberg Index Ticker | SOLAUSFR Index |
Index Methodology
Portfolio Characteristics
|
Running Yield (% p.a.)
Average annual coupon (weighted by market value) of the bonds in the portfolio, divided by the current market price of the bonds (including any accrued interest). Provides an indication of expected income receivable over the next 12 months, however it does not take into account capital gains/losses realisable when a bond is sold or matures.
|
0.81 |
|
All-in yield (% p.a.)
The sum of a floating-rate bond's Discount Margin and its reference benchmark rate. The fund's all-in yield is the weighted average of its underlying bonds' all-in yields.
|
0.53 |
|
Discount Margin (bps)
The difference or spread between the expected return of a floating-rate bond and that of its underlying index, expressed as a margin above the underlying reference benchmark rate. The fund's DM is the weighted average of its underlying bonds' DMs. For AUD floating-rate bonds, the reference benchmark rate is typically the Bank Bill Swap Rate (BBSW). For bonds with optionality, this is the DM to first call, where the calculation replaces the bond maturity date with its first call date.
|
46.19 |
|
Average Maturity (yrs)
Average (weighted by market value) length of time
until the current
bonds in the portfolio mature.
|
3.06 |
|
Modified Duration (yrs)
A measure of the sensitivity of the portfolio’s
value
to a change in
interest rates. For example, a Modified Duration of 0.15 years implies
that
a 1% rise in the
reference interest rate will reduce the value of the portfolio by 0.15%.
|
0.11 |
|
Spread duration
A measure of the sensitivity of the portfolio's value to a change in the credit spread margin or discount margin (DM). For example, a Spread Duration of 2 years implies that a 1%, or 100 basis points rise in the DM will reduce the value of the portfolio by 2%.
|
2.94 |
|
Average Credit Rating
Average credit rating for the bonds in the
portfolio. Source:
Bloomberg
| AA- |
As at 17 January 2022
Portfolio Holdings
| Name | Weight (%) |
|---|---|
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN JAN-25 | 10.0 |
| COMMONWEALTH BANK OF AUSTRALIA FRN JAN-24 | 10.0 |
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN AUG-24 | 10.0 |
| NATIONAL AUSTRALIA BANK LTD FRN AUG-26 | 10.0 |
| WESTPAC BANKING CORP FRN AUG-24 | 10.0 |
| NATIONAL AUSTRALIA BANK LTD FRN JAN-25 | 9.9 |
| WESTPAC BANKING CORP FRN APR-24 | 9.9 |
| BANK OF QUEENSLAND LTD FRN OCT-26 | 5.6 |
| COMMONWEALTH BANK OF AUSTRALIA FRN AUG-23 | 5.0 |
| BENDIGO & ADELAIDE BANK LTD FRN DEC-25 | 5.0 |
| Ticker | Name | Weight (%) | Asset Class | Sector | Country | Currency | Shares/Unit (#) | Market Value (AUD) | Notional Value (AUD) | Maturity Date | Coupon (%) | YTM (%) | Modified Duration |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANZ Float 01/16/25 Corp | AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN JAN-25 | 10.0 | Bonds | Financials | Australia | AUD | 68,700,000 | $69,344,750 | $69,344,750 | 2025-01-16 | 1.6517 | 1.8548 | 0.2511 |
| CBAAU 0 01/11/24 Corp | COMMONWEALTH BANK OF AUSTRALIA FRN JAN-24 | 10.0 | Bonds | Financials | Australia | AUD | 68,200,000 | $69,326,323 | $69,326,323 | 2024-01-11 | 3.1933 | 1.3475 | 0.2305 |
| ANZ Float 08/29/24 Corp | AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN AUG-24 | 10.0 | Bonds | Financials | Australia | AUD | 68,400,000 | $69,159,240 | $69,159,240 | 2024-08-29 | 1.655 | 1.6594 | 0.1133 |
| NAB Float 08/24/26 Corp | NATIONAL AUSTRALIA BANK LTD FRN AUG-26 | 10.0 | Corporate Bond | Financials | Australia | AUD | 69,700,000 | $69,092,565 | $69,092,565 | 2026-08-24 | 0.4244 | 2.3126 | 0.1004 |
| WSTP 0 08/16/24 Corp | WESTPAC BANKING CORP FRN AUG-24 | 10.0 | Bonds | Financials | Australia | AUD | 68,000,000 | $68,972,740 | $68,972,740 | 2024-08-16 | 2.5252 | 1.6437 | 0.0804 |
| NAB Float 01/21/25 Corp | NATIONAL AUSTRALIA BANK LTD FRN JAN-25 | 9.9 | Corporate Bond | Financials | Australia | AUD | 68,100,000 | $68,745,248 | $68,745,248 | 2025-01-21 | 1.67 | 1.8616 | 0.0083 |
| WSTP 0 04/24/24 Corp | WESTPAC BANKING CORP FRN APR-24 | 9.9 | Bonds | Financials | Australia | AUD | 67,200,000 | $68,384,064 | $68,384,064 | 2024-04-24 | 3.2211 | 1.4950 | 0.0167 |
| BQDAU Float 10/27/26 Corp | BANK OF QUEENSLAND LTD FRN OCT-26 | 5.6 | Bonds | Financials | Australia | AUD | 38,720,000 | $38,739,360 | $38,739,360 | 2026-10-27 | 0.8402 | 2.5400 | 0.0246 |
| AU3FN0044046 Corp | COMMONWEALTH BANK OF AUSTRALIA FRN AUG-23 | 5.0 | Bonds | Financials | Australia | AUD | 34,300,000 | $34,725,320 | $34,725,320 | 2023-08-16 | 2.555 | 1.0663 | 0.0802 |
| BENAU Float 12/02/25 Corp | BENDIGO & ADELAIDE BANK LTD FRN DEC-25 | 5.0 | Bonds | Financials | Australia | AUD | 34,500,000 | $34,320,600 | $34,320,600 | 2025-12-02 | 0.54 | 2.2682 | 0.1170 |
| MQGAU Float 12/09/25 Corp | MACQUARIE BANK LTD FRN DEC-25 | 5.0 | Bonds | Financials | Australia | AUD | 34,500,000 | $34,314,735 | $34,314,735 | 2025-12-09 | 0.5 | 2.2316 | 0.1361 |
| SUNAU Float 09/15/26 Corp | SUNCORP-METWAY LTD FRN SEP-26 | 4.4 | Bonds | Financials | Australia | AUD | 31,000,000 | $30,697,440 | $30,697,440 | 2026-09-15 | 0.4919 | 2.4085 | 0.1517 |
| CBAAU Float 01/14/27 Corp | COMMONWEALTH BANK OF AUSTRALIA FRN JAN-27 | 2.4 | Bonds | Financials | Australia | AUD | 16,500,000 | $16,521,450 | $16,521,450 | 2027-01-14 | 0.7695 | 2.4101 | 0.2355 |
Download CSV
* As at 14 January 2022. Excludes cash
Sector Allocation
| Australian Senior Bank FRNs | 100.0% |
* As of 31 December 2021
PERFORMANCE
Fund Returns After Fees (%)
| Fund | Index | |
|---|---|---|
| 1 month | 0.06% | 0.09% |
| 3 months | -0.24% | -0.16% |
| 6 months | -0.26% | -0.15% |
| 1 year | -0.23% | -0.01% |
| 3 year p.a | 1.96% | 2.18% |
| 5 year p.a | - | 2.60% |
| Since inception (p.a) | 2.17% | 2.36% |
| Inception date | 1-Jun-17 | - |
* As at 31 December 2021
Chart
Chart Type
Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown.
DISTRIBUTIONS
Yield Information
| Distribution Frequency | Monthly |
| 12 Mth Distribution Yield* (%) | 0.9% |
| 12 Mth Gross Distribution Yield* (%) | - |
| Franking Level | - |
*As at 31 December 2021. Yield figures are calculated by summing the prior 12 month net and gross fund per unit distributions divided by the fund closing NAV per unit. Past performance is not an indicator of future performance.
Recent Distributions
| Ex Date | Record Date | Payment Date | Distribution Unit ($) | Annual Distribution Return (%) (1) |
|---|---|---|---|---|
| 4-Jan-22 | 5-Jan-22 | 19-Jan-22 | $0.01433 | 0.90% |
| 1-Dec-21 | 2-Dec-21 | 16-Dec-21 | $0.01518 | 0.91% |
| 1-Nov-21 | 2-Nov-21 | 16-Nov-21 | $0.01486 | 0.86% |
| 1-Oct-21 | 4-Oct-21 | 18-Oct-21 | $0.01486 | 0.80% |
| 1-Sep-21 | 2-Sep-21 | 16-Sep-21 | $0.01509 | 0.79% |
| 2-Aug-21 | 3-Aug-21 | 17-Aug-21 | $0.01138 | 0.79% |
| 1-Jul-21 | 2-Jul-21 | 16-Jul-21 | $0.04396 | 0.80% |
| 1-Jun-21 | 2-Jun-21 | 17-Jun-21 | $0.02714 | 0.68% |
| 3-May-21 | 4-May-21 | 18-May-21 | $0.0274 | 0.64% |
| 1-Apr-21 | 6-Apr-21 | 20-Apr-21 | $0.01945 | 0.58% |
| 1-Mar-21 | 2-Mar-21 | 16-Mar-21 | $0.0173 | 0.56% |
| 1-Feb-21 | 2-Feb-21 | 16-Feb-21 | $0.01578 | 0.58% |
| 4-Jan-21 | 5-Jan-21 | 19-Jan-21 | $0.0172 | 0.64% |
| 1-Dec-20 | 2-Dec-20 | 16-Dec-20 | $0.01156 | 1.02% |
| 2-Nov-20 | 3-Nov-20 | 17-Nov-20 | $0.01263 | 1.12% |
| 1-Oct-20 | 2-Oct-20 | 16-Oct-20 | $0.01412 | 1.23% |
| 1-Sep-20 | 2-Sep-20 | 16-Sep-20 | $0.01448 | 1.33% |
| 3-Aug-20 | 4-Aug-20 | 18-Aug-20 | $0.01525 | 1.42% |
| 1-Jul-20 | 2-Jul-20 | 16-Jul-20 | $0.01238 | 1.55% |
| 1-Jun-20 | 2-Jun-20 | 17-Jun-20 | $0.01339 | 1.65% |
| 1-May-20 | 4-May-20 | 18-May-20 | $0.01946 | 1.79% |
| 1-Apr-20 | 2-Apr-20 | 20-Apr-20 | $0.03067 | 1.89% |
| 2-Mar-20 | 3-Mar-20 | 17-Mar-20 | $0.03504 | 2.03% |
| 3-Feb-20 | 4-Feb-20 | 18-Feb-20 | $0.04046 | 2.11% |
| 2-Jan-20 | 3-Jan-20 | 17-Jan-20 | $0.03857 | 2.20% |
| 2-Dec-19 | 3-Dec-19 | 17-Dec-19 | $0.03727 | 2.28% |
| 1-Nov-19 | 4-Nov-19 | 18-Nov-19 | $0.03954 | 2.35% |
| 1-Oct-19 | 2-Oct-19 | 16-Oct-19 | $0.04131 | 2.43% |
| 2-Sep-19 | 3-Sep-19 | 17-Sep-19 | $0.03614 | 2.47% |
| 1-Aug-19 | 2-Aug-19 | 16-Aug-19 | $0.04769 | 2.57% |
| 1-Jul-19 | 2-Jul-19 | 16-Jul-19 | $0.04036 | 2.62% |
| 3-Jun-19 | 4-Jun-19 | 19-Jun-19 | $0.04898 | 2.67% |
| 1-May-19 | 2-May-19 | 16-May-19 | $0.05148 | 2.71% |
| 1-Apr-19 | 2-Apr-19 | 16-Apr-19 | $0.05425 | 2.73% |
| 1-Mar-19 | 4-Mar-19 | 18-Mar-19 | $0.05258 | 2.72% |
| 1-Feb-19 | 4-Feb-19 | 18-Feb-19 | $0.0615 | 2.71% |
| 2-Jan-19 | 3-Jan-19 | 17-Jan-19 | $0.06038 | 2.67% |
| 3-Dec-18 | 4-Dec-18 | 18-Dec-18 | $0.05491 | 2.64% |
| 1-Nov-18 | 2-Nov-18 | 16-Nov-18 | $0.05942 | 2.62% |
| 1-Oct-18 | 2-Oct-18 | 16-Oct-18 | $0.05052 | 2.59% |
| 3-Sep-18 | 4-Sep-18 | 18-Sep-18 | $0.05743 | 2.58% |
| 1-Aug-18 | 2-Aug-18 | 16-Aug-18 | $0.06076 | 2.54% |
| 2-Jul-18 | 3-Jul-18 | 17-Jul-18 | $0.05366 | 2.50% |
| 1-Jun-18 | 4-Jun-18 | 19-Jun-18 | $0.06034 | 2.49% |
| 1-May-18 | 2-May-18 | 16-May-18 | $0.0578 | - |
| 3-Apr-18 | 4-Apr-18 | 18-Apr-18 | $0.05494 | - |
| 1-Mar-18 | 2-Mar-18 | 16-Mar-18 | $0.05347 | - |
| 1-Feb-18 | 2-Feb-18 | 16-Feb-18 | $0.05401 | - |
| 2-Jan-18 | 3-Jan-18 | 17-Jan-18 | $0.05144 | - |
| 1-Dec-17 | 4-Dec-17 | 18-Dec-17 | $0.0486 | - |
| 1-Nov-17 | 2-Nov-17 | 16-Nov-17 | $0.05022 | - |
| 2-Oct-17 | 3-Oct-17 | 17-Oct-17 | $0.0468 | - |
| 1-Sep-17 | 4-Sep-17 | 18-Sep-17 | $0.04965 | - |
| 1-Aug-17 | 2-Aug-17 | 16-Aug-17 | $0.04974 | - |
| 3-Jul-17 | 4-Jul-17 | 18-Jul-17 | $0.04786 | - |
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RESOURCES
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Factsheet - QPON |
Download
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Fund Flyer - QPON |
Download
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Investor Guide to BetaShares Fixed Income Solutions |
Download
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QPON - FAQs |
Download
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Portfolio Holdings |
Download
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Product Disclosure Statement - QPON |
Download
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Product Disclosure Statement Update – 20 September 2021 |
Download
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Product Disclosure Statement Updates – QPON |
Download
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Annual Report - June 2021 |
Download
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Interim Financial Report - December 2020 |
Download
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NRWT and Fund Payment Notice information - December 2021 distributions |
Download
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NRWT and Fund Payment Notice information - November 2021 distributions |
Download
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NRWT and Fund Payment Notice information - October 2021 distributions |
Download
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NRWT and Fund Payment Notice information - September 2021 distributions |
Download
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NRWT and Fund Payment Notice information - August 2021 distributions |
Download
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NRWT and Fund Payment Notice information - July 2021 distributions |
Download
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NRWT and Fund Payment Notice information - June 2021 distributions |
Download
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NRWT and Fund Payment Notice information - May 2021 distributions |
Download
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NRWT and Fund Payment Notice information - April 2021 distributions |
Download
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NRWT and Fund Payment Notice information - March 2021 distributions |
Download
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NRWT and Fund Payment Notice information - February 2021 distributions |
Download
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NRWT and Fund Payment Notice information - January 2021 distributions |
Download
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