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BetaShares Australian Bank Senior Floating Rate Bond ETF
OBJECTIVE
Provides exposure to a portfolio of some of the largest and most liquid senior floating rate bonds issued by Australian banks.
OVERVIEW
About
Aims to provide attractive and regular income distributions, combined with a high level of capital stability, expected to exceed income paid on cash and short-dated term deposits.
- Assets are invested in a portfolio of senior floating rate bonds issued by Australian banks
- Eligible bonds must have amounts outstanding of at least $500 million and a term to maturity of between 1 to 5 years
- At least 80% of total portfolio weight allocated to bonds issued by the following eligible banks: ANZ Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac (equally weighted)
- Up to 20% of total portfolio weight allocated to bonds issued by the following eligible banks: AMP Bank, Bank of Queensland, Bendigo & Adelaide Bank, Macquarie Bank, Members Equity Bank and Suncorp-Metway
Advantages
- Regular attractive income – income paid monthly, and expected to exceed income paid on cash and short-dated term deposits. Income expected to rise should interest rates rise and vice versa
- Stability – historically Australian bank senior floating rate bonds have had a high level of capital stability, and limited capital variability during market declines
- Diversification – floating rate bonds have historically exhibited low correlation to equities as well as defensive characteristics during market declines
- Low cost – management costs of only 0.22% p.a.
- Access – simple way to access a diversified portfolio of Australian bank senior floating rate bonds, inaccessible to most investors directly
- Liquidity – available to trade on the ASX like any share, capital not locked up unlike term deposits
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 19 July 2019
| Current Price | |
|---|---|
| Last Trade* | $25.86 |
| % Change (prev day) | 0% |
| Bid (delayed) | $25.87 |
| Offer (delayed) | $25.89 |
*Data is delayed by at least 20 minutes.
Download NAV history
| NAV | |
|---|---|
| NAV/Unit * | $25.87 |
* As at 18 July 2019
Profile
| Net Assets* ($A) | $515,558,151 |
| Units Outstanding* (#) | 19,930,499 |
| Mgmt Costs** (% p.a.) | 0.22% |
| Distribution Frequency | Monthly |
| Distribution Reinvestment Plan (DRP) | Full or partial participation available |
| Issuer | BetaShares Capital Ltd |
| Fund Administrator | RBC Investor Services |
| Custodian | RBC Investor Services |
| Registry | Link Market Services |
| Auditor | KPMG |
* As at 18 July 2019
**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) |
| Market Makers | Deutsche Securities |
| SMSF Eligible | Yes |
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 coupon (weighted by market value) of the
bonds
in the portfolio, divided by the current market price of the bonds.
Provides
an indication of expected current income from making an investment at
market
price. This value will vary over time as interest rates change.
|
2.43 % p.a. |
|
Yield to Maturity (% p.a.)
Total expected return from the bond portfolio,
based
on current bond
prices and assuming no change in prevailing interest rates. This value
will
vary over time.
|
1.77 % p.a. |
|
Average Maturity (yrs)
Average (weighted by market value) length of time
until the current
bonds in the portfolio mature.
|
4.08 yrs |
|
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%.
|
0.10 yrs |
|
Average Credit Rating
Average credit rating for the bonds in the
portfolio. Source:
Bloomberg
| A+ |
As at 19 July 2019
Portfolio Holdings
| Name | Weight (%) |
|---|---|
| NATIONAL AUSTRALIA BANK 3.022 26 Feb 24 | 10.8 |
| AUST & NZ BANKING GROUP MTN 3.180 08 Feb 24 | 10.0 |
| COMMONWEALTH BANK AUST 3.193 11 Jan 24 | 9.9 |
| AUST & NZ BANKING GROUP MTN 2.989 06 Dec 23 | 9.8 |
| COMMONWEALTH BANK AUST MTN 2.899 16 Aug 23 | 9.6 |
| WESTPAC BANKING CORP MTN 3.221 24 Apr 24 | 9.4 |
| WESTPAC BANKING CORP MTN 2.901 16 Nov 23 | 8.2 |
| NATIONAL AUSTRALIA BANK MTN 2.274 19 Jun 24 | 6.8 |
| BANK OF QUEENSLAND LTD MTN 2.8445 03 Feb 2023 | 4.3 |
| SUNCORP-METWAY LTD MTN 2.6613 16 Aug 2022 | 4.2 |
| Ticker | Name | Weight (%) | Asset Class | Sector | Country | Currency | Shares/Unit (#) | Market Value (AUD) | Notional Value (AUD) | Maturity Date | Coupon (%) | YTM (%) | Modified Duration |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NAB 0 02/26/24 Corp | NATIONAL AUSTRALIA BANK 3.022 26 Feb 24 | 10.8 | Bonds | Financials | Australia | AUD | 54,700,000 | $55,713,591 | $55,713,591 | 2024-02-26 | 3.0221 | 1.7157968435516584 | 0.09465281359715269 |
| ANZ 0 02/08/24 Corp | AUST & NZ BANKING GROUP MTN 3.180 08 Feb 24 | 10.0 | Bonds | Financials | Australia | AUD | 50,128,000 | $51,192,719 | $51,192,719 | 2024-02-08 | 3.1803 | 1.705517385438124 | 0.04470794321688154 |
| CBAAU 0 01/11/24 Corp | COMMONWEALTH BANK AUST 3.193 11 Jan 24 | 9.9 | Bonds | Financials | Australia | AUD | 50,000,000 | $51,113,000 | $51,113,000 | 2024-01-11 | 3.1933 | 1.6926509698308636 | 0.22295132892140213 |
| ANZ 0 12/06/23 Corp | AUST & NZ BANKING GROUP MTN 2.989 06 Dec 23 | 9.8 | Bonds | Financials | Australia | AUD | 49,370,000 | $50,285,814 | $50,285,814 | 2023-12-06 | 2.9886 | 1.6703877733514125 | 0.1251973523416253 |
| AU3FN0044046 Corp | COMMONWEALTH BANK AUST MTN 2.899 16 Aug 23 | 9.6 | Bonds | Financials | Australia | AUD | 48,500,000 | $49,156,690 | $49,156,690 | 2023-08-16 | 2.8993 | 1.6462116964915692 | 0.06652859693415687 |
| WSTP 0 04/24/24 Corp | WESTPAC BANKING CORP MTN 3.221 24 Apr 24 | 9.4 | Bonds | Financials | Australia | AUD | 47,200,000 | $48,284,656 | $48,284,656 | 2024-04-24 | 3.2211 | 1.7368357055245018 | 0.0028024734469386547 |
| WSTP 0 11/16/23 Corp | WESTPAC BANKING CORP MTN 2.901 16 Nov 23 | 8.2 | Bonds | Financials | Australia | AUD | 41,500,000 | $42,108,390 | $42,108,390 | 2023-11-16 | 2.9007 | 1.675599376521923 | 0.0666005412746925 |
| NAB 0 06/19/24 Corp | NATIONAL AUSTRALIA BANK MTN 2.274 19 Jun 24 | 6.8 | Bonds | Financials | Australia | AUD | 34,500,000 | $34,952,295 | $34,952,295 | 2024-06-19 | 2.2742 | 1.7568452430980506 | 0.1604282500723077 |
| BQDAU 0 02/03/23 Corp | BANK OF QUEENSLAND LTD MTN 2.8445 03 Feb 2023 | 4.3 | Bonds | Financials | Australia | AUD | 21,740,000 | $21,862,396 | $21,862,396 | 2023-02-03 | 2.8445 | 1.9138428275079773 | 0.038532854607212876 |
| SUNAU 0 08/16/22 Corp | SUNCORP-METWAY LTD MTN 2.6613 16 Aug 2022 | 4.2 | Bonds | Financials | Australia | AUD | 21,350,000 | $21,536,172 | $21,536,172 | 2022-08-16 | 2.6613 | 1.6873355815404776 | 0.06621192913598971 |
| AMPAU 0 05/24/21 Corp | AMP BANK LIMITED MTN 3.2900 24 May 2021 | 4.2 | Bonds | Financials | Australia | AUD | 21,400,000 | $21,516,844 | $21,516,844 | 2021-05-24 | 3.29 | 2.046892879364953 | 0.09341459114666033 |
| BENAU 0 01/19/22 Corp | BENDIGO AND ADELAIDE BK MTN 2.961 19 Jan 22 | 4.1 | Bonds | Financials | Australia | AUD | 20,890,000 | $21,042,079 | $21,042,079 | 2022-01-19 | 2.9606 | 1.6967354539558293 | 0.24706320586169686 |
| MQGAU 0 06/21/22 Corp | MACQUARIE BANK LTD MTN 2.050 21 Jun 22 | 2.7 | Bonds | Financials | Australia | AUD | 14,100,000 | $14,128,341 | $14,128,341 | 2022-06-21 | 2.05 | 1.6777534710721673 | 0.1696377588409253 |
| NAB 0 09/26/23 Corp | NATIONAL AUSTRALIA BANK 2.867 26 Sep 23 | 2.1 | Bonds | Financials | Australia | AUD | 10,700,000 | $10,839,956 | $10,839,956 | 2023-09-26 | 2.867 | 1.6682011087602264 | 0.17973248771771333 |
| WSTP 0 08/16/24 Corp | WESTPAC BANKING CORP MTN 2.525 16 Aug 24 | 2.0 | Bonds | Financials | Australia | AUD | 10,000,000 | $10,108,200 | $10,108,200 | 2024-08-16 | 2.5252 | 1.7859629772258296 | 0.0663527883525198 |
| AAA AU | BETASHARES AUSTRALIAN HIGH INT | 1.2 | Equities | Financials | Australia | AUD | 120,000 | $6,012,600 | $6,012,600 | ||||
| AUD | AUD - Australia Dollar | 0.8 | Cash | Financials | Australia | AUD | 4,135,992 | $4,135,992 | $4,135,992 |
Download CSV
* As at 18 July 2019
Sector Allocation
| Australian Senior Bank FRNs | 100.0% |
* As of 30 June 2019
PERFORMANCE
Fund Returns After Fees (%)
| Fund | Index | |
|---|---|---|
| 1 month | 0.29% | 0.30% |
| 3 months | 0.91% | 0.94% |
| 6 months | 2.39% | 2.45% |
| 1 year | 3.53% | 3.75% |
| 3 year p.a | - | 3.58% |
| 5 year p.a | - | 3.40% |
| Since inception (p.a) | 3.13% | 3.27% |
| Inception date | 1-Jun-17 | - |
* As at 28 June 2019
Chart
Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown.
DISTRIBUTIONS
Yield Information
| Distribution Frequency | Monthly |
| 12 Mth Distribution Yield* (%) | 2.6% |
| 12 Mth Gross Distribution Yield* (%) | - |
| Franking Level | - |
*As at 30 June 2019. Yield figures are calculated by summing the prior 12 month net and gross fund per unit distributions divided by the fund closing NAV per unit. Past performance is not an indicator of future performance.
Recent Distributions
| Ex Date | Record Date | Payment Date | Distribution Unit ($) | Annual Distribution Return (%) (1) |
|---|---|---|---|---|
| 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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The Investment Case for QPON |
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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Annual Report - June 2018 |
Download
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NRWT and Fund Payment Notice information - June 2019 distributions |
Download
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NRWT and Fund Payment Notice information – May 2019 distributions |
Download
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NRWT and Fund Payment Notice information – April 2019 distributions |
Download
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NRWT and Fund Payment Notice information – March 2019 distributions |
Download
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NRWT and Fund Payment Notice information - February 2019 Distribution |
Download
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NRWT and Fund Payment Notice information - January 2019 Distribution |
Download
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NRWT and Fund Payment Notice information – December 2018 distributions |
Download
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NRWT and Fund Payment Notice information – November 2018 distributions |
Download
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NRWT and Fund Payment Notice information – October 2018 distributions |
Download
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NRWT and Fund Payment Notice information – September 2018 distributions |
Download
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NRWT and Fund Payment Notice information – August 2018 distributions |
Download
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Notice of Modifications to Fund Constitution – AMIT Tax Regime |
Download
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2018 Distribution Calendar |
Download
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Interim Financial Report 2018 |
Download
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