Australian Bank Senior Floating Rate Bond ETF

QPON

Attractive income from floating rate bonds issued by Australian banks

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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.

There are risks associated with an investment in QPON, including interest rate risk, credit risk, bank sector risk and market 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.

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

Current price
Last trade*
% Change (prev day)
Bid (delayed)
Offer (delayed)

* Data is delayed by at least 20 minutes.

NAV
NAV/Unit* $25.99

* As at 19 June 2024

Profile

Net assets* ($A) $1,383,385,144
Units outstanding* (#) 53,226,608
Management fee and cost** (p.a.) 0.22%
Distribution frequency Monthly
Distribution reinvestment plan (DRP) Full or partial participation available
Issuer Betashares Capital Ltd
Registry Link Market Services

* As at 19 June 2024

**Certain additional costs apply. Please refer to PDS.

Trading information

ASX code QPON
Bloomberg code QPON AU
IRESS code QPON.AXW
Market makers Susquehanna Pacific

Index information

Index Solactive Australian Bank Senior Floating Rate Bond Index
Index provider Solactive AG
Index ticker N/A
Bloomberg index ticker SOLAUSFR Index

Portfolio characteristics

Running yield (% p.a.) 5.32
All-in yield (% p.a.) 5.22
Estimated yield to maturity (% p.a.) 4.89
Discount margin (bps) 83.92
Average maturity (yrs) 4.27
Modified duration (yrs) 0.15
Spread duration (yrs) 3.73
Average credit rating AA-
As at 20 June 2024

Holdings & allocation

Portfolio holdings

Name Weight (%)
WESTPAC BANKING CORP FRN JAN-29 10.0%
NATIONAL AUSTRALIA BANK LTD FRN MAR-29 10.0%
WESTPAC BANKING CORP FRN MAY-29 10.0%
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD 5.3147% FEB-29 9.9%
NATIONAL AUSTRALIA BANK LTD FRN NOV-28 9.7%
COMMONWEALTH BANK OF AUSTRALIA FRN JAN-28 9.3%
COMMONWEALTH BANK OF AUSTRALIA FRN AUG-28 9.3%
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN JUN-29 8.5%
SUNCORP-METWAY LTD FRN MAR-29 5.3%
BANK OF QUEENSLAND LTD FRN APR-29 5.2%

* As at 19 June 2024. Excludes cash

Sector allocation

Australian Senior Bank FRNs
100.0%

* As of 31 May 2024

Performance

Fund returns after fees (%)

  Fund Index
1 month 0.51% 0.52%
3 months 1.59% 1.59%
6 months 3.15% 3.18%
1 year 5.88% 5.88%
3 year p.a. 2.93% 2.98%
5 year p.a. 2.55% 2.68%
10 year p.a. - 3.04%
Since inception (p.a.) 2.71% 2.84%
Inception date 1-Jun-17 -

* As at 31 May 2024.
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.

Chart

Past performance is not indicative of future performance. Please refer to "Fund returns after fees" for additional information regarding performance/return information.

Distributions

Yield information

Distribution frequency Monthly
12 mth distribution yield* 4.7%

*As at 31 May 2024. 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. Past performance is not indicative of future performance.

You can elect DRP by logging into Link’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)
3-Jun-24 4-Jun-24 19-Jun-24 $0.160711 5.16%
1-May-24 2-May-24 16-May-24 $0.137831 4.87%
2-Apr-24 3-Apr-24 17-Apr-24 $0.109138 4.62%
1-Mar-24 4-Mar-24 18-Mar-24 $0.101018 4.50%
1-Feb-24 2-Feb-24 16-Feb-24 $0.114993 4.37%
2-Jan-24 3-Jan-24 17-Jan-24 $0.100783 4.23%
1-Dec-23 4-Dec-23 18-Dec-23 $0.099002 4.12%
1-Nov-23 2-Nov-23 16-Nov-23 $0.105664 4.03%
2-Oct-23 3-Oct-23 17-Oct-23 $0.095833 3.90%
1-Sep-23 4-Sep-23 18-Sep-23 $0.102499 3.76%
1-Aug-23 2-Aug-23 16-Aug-23 $0.091656 3.59%
3-Jul-23 4-Jul-23 18-Jul-23 $0.078325 3.42%
1-Jun-23 2-Jun-23 19-Jun-23 $0.086142 3.28%
1-May-23 2-May-23 16-May-23 $0.073002 2.99%
3-Apr-23 4-Apr-23 20-Apr-23 $0.080574 2.74%
1-Mar-23 2-Mar-23 16-Mar-23 $0.068005 2.46%
1-Feb-23 2-Feb-23 16-Feb-23 $0.077536 2.24%
3-Jan-23 4-Jan-23 18-Jan-23 $0.072606 1.98%
1-Dec-22 2-Dec-22 16-Dec-22 $0.072576 1.75%
1-Nov-22 2-Nov-22 16-Nov-22 $0.074855 1.52%
3-Oct-22 4-Oct-22 18-Oct-22 $0.062309 1.28%
1-Sep-22 2-Sep-22 16-Sep-22 $0.057282 1.09%
1-Aug-22 2-Aug-22 16-Aug-22 $0.050287 0.93%
1-Jul-22 4-Jul-22 18-Jul-22 $0.045483 0.77%
1-Jun-22 2-Jun-22 17-Jun-22 $0.015943 0.77%
2-May-22 3-May-22 17-May-22 $0.013915 0.81%
1-Apr-22 4-Apr-22 20-Apr-22 $0.014313 0.86%
1-Mar-22 2-Mar-22 16-Mar-22 $0.01312 0.88%
1-Feb-22 2-Feb-22 16-Feb-22 $0.014204 0.90%
4-Jan-22 5-Jan-22 19-Jan-22 $0.014333 0.90%
1-Dec-21 2-Dec-21 16-Dec-21 $0.015179 0.91%
1-Nov-21 2-Nov-21 16-Nov-21 $0.014863 0.86%
1-Oct-21 4-Oct-21 18-Oct-21 $0.014864 0.80%
1-Sep-21 2-Sep-21 16-Sep-21 $0.015088 0.79%
2-Aug-21 3-Aug-21 17-Aug-21 $0.011385 0.79%
1-Jul-21 2-Jul-21 16-Jul-21 $0.043962 0.80%
1-Jun-21 2-Jun-21 17-Jun-21 $0.027143 0.68%
3-May-21 4-May-21 18-May-21 $0.027398 0.64%
1-Apr-21 6-Apr-21 20-Apr-21 $0.019449 0.58%
1-Mar-21 2-Mar-21 16-Mar-21 $0.017296 0.56%
1-Feb-21 2-Feb-21 16-Feb-21 $0.015781 0.58%
4-Jan-21 5-Jan-21 19-Jan-21 $0.017201 0.64%
1-Dec-20 2-Dec-20 16-Dec-20 $0.011563 1.02%
2-Nov-20 3-Nov-20 17-Nov-20 $0.012632 1.12%
1-Oct-20 2-Oct-20 16-Oct-20 $0.014116 1.23%
1-Sep-20 2-Sep-20 16-Sep-20 $0.014478 1.33%
3-Aug-20 4-Aug-20 18-Aug-20 $0.015247 1.42%
1-Jul-20 2-Jul-20 16-Jul-20 $0.012379 1.55%
1-Jun-20 2-Jun-20 17-Jun-20 $0.013393 1.65%
1-May-20 4-May-20 18-May-20 $0.019458 1.79%
1-Apr-20 2-Apr-20 20-Apr-20 $0.030667 1.89%
2-Mar-20 3-Mar-20 17-Mar-20 $0.035045 2.03%
3-Feb-20 4-Feb-20 18-Feb-20 $0.04046 -
2-Jan-20 3-Jan-20 17-Jan-20 $0.038575 -
2-Dec-19 3-Dec-19 17-Dec-19 $0.037269 -
1-Nov-19 4-Nov-19 18-Nov-19 $0.039537 -
1-Oct-19 2-Oct-19 16-Oct-19 $0.041311 -
2-Sep-19 3-Sep-19 17-Sep-19 $0.036141 -
1-Aug-19 2-Aug-19 16-Aug-19 $0.047689 -
1-Jul-19 2-Jul-19 16-Jul-19 $0.040359 2.62%
3-Jun-19 4-Jun-19 19-Jun-19 $0.048979 2.67%
1-May-19 2-May-19 16-May-19 $0.051484 2.71%
1-Apr-19 2-Apr-19 16-Apr-19 $0.054249 2.73%
1-Mar-19 4-Mar-19 18-Mar-19 $0.052583 2.72%
1-Feb-19 4-Feb-19 18-Feb-19 $0.0615 -
2-Jan-19 3-Jan-19 17-Jan-19 $0.060376 -
3-Dec-18 4-Dec-18 18-Dec-18 $0.054914 -
1-Nov-18 2-Nov-18 16-Nov-18 $0.059417 -
1-Oct-18 2-Oct-18 16-Oct-18 $0.050519 -
3-Sep-18 4-Sep-18 18-Sep-18 $0.057428 -
1-Aug-18 2-Aug-18 16-Aug-18 $0.060762 -
2-Jul-18 3-Jul-18 17-Jul-18 $0.053661 2.50%
1-Jun-18 4-Jun-18 19-Jun-18 $0.060338 2.49%
1-May-18 2-May-18 16-May-18 $0.057797 -
3-Apr-18 4-Apr-18 18-Apr-18 $0.054943 -
1-Mar-18 2-Mar-18 16-Mar-18 $0.053472 -
1-Feb-18 2-Feb-18 16-Feb-18 $0.054014 -
2-Jan-18 3-Jan-18 17-Jan-18 $0.051443 -
1-Dec-17 4-Dec-17 18-Dec-17 $0.0486 -
1-Nov-17 2-Nov-17 16-Nov-17 $0.050217 -
2-Oct-17 3-Oct-17 17-Oct-17 $0.046803 -
1-Sep-17 4-Sep-17 18-Sep-17 $0.049649 -
1-Aug-17 2-Aug-17 16-Aug-17 $0.049735 -
3-Jul-17 4-Jul-17 18-Jul-17 $0.047856 -

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: QPON

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