QPON ASX | Floating Rate Corporate Bond ETF | BetaShares
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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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ANNOUNCEMENTS

ASX Announcements: QPON

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RESOURCES

Factsheet - QPON
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Fund Flyer - QPON
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Investor Guide to BetaShares Fixed Income Solutions
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QPON - FAQs
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Portfolio Holdings
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Product Disclosure Statement - QPON
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Product Disclosure Statement Update – 20 September 2021
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Product Disclosure Statement Updates – QPON
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Annual Report - June 2021
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Interim Financial Report - December 2020
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NRWT and Fund Payment Notice information - December 2021 distributions
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NRWT and Fund Payment Notice information - November 2021 distributions
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NRWT and Fund Payment Notice information - October 2021 distributions
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NRWT and Fund Payment Notice information - September 2021 distributions
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NRWT and Fund Payment Notice information - August 2021 distributions
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NRWT and Fund Payment Notice information - July 2021 distributions
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NRWT and Fund Payment Notice information - June 2021 distributions
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NRWT and Fund Payment Notice information - May 2021 distributions
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NRWT and Fund Payment Notice information - April 2021 distributions
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NRWT and Fund Payment Notice information - March 2021 distributions
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NRWT and Fund Payment Notice information - February 2021 distributions
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NRWT and Fund Payment Notice information - January 2021 distributions
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