Australian Bank Senior Floating Rate Bond ETF
- Cash & Fixed income
Attractive income from 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.
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* | $25.88 |
* As at 7 December 2023
Profile
| Net assets* ($A) | $1,281,560,318 |
|---|---|
| Units outstanding* (#) | 49,510,840 |
| 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 7 December 2023
**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.) | 5.30 |
|---|---|
| All-in yield (% p.a.) | 5.29 |
| Estimated yield to maturity (% p.a.) | 5.00 |
| Discount margin (bps) | 94.27 |
| Average maturity (yrs) | 4.25 |
| Modified duration (yrs) | 0.13 |
| Spread duration (yrs) | 3.73 |
| Average credit rating | AA- |
Holdings & allocation
Portfolio holdings
| Name | Weight (%) |
|---|---|
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN SEP-28 | 10.3% |
| NATIONAL AUSTRALIA BANK LTD FRN NOV-28 | 10.0% |
| WESTPAC BANKING CORP FRN SEP-28 | 10.0% |
| WESTPAC BANKING CORP FRN FEB-28 | 10.0% |
| COMMONWEALTH BANK OF AUSTRALIA FRN AUG-28 | 9.9% |
| COMMONWEALTH BANK OF AUSTRALIA FRN JAN-28 | 9.9% |
| NATIONAL AUSTRALIA BANK LTD FRN MAY-28 | 9.9% |
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD FRN MAR-28 | 9.7% |
| BANK OF QUEENSLAND LTD FRN JAN-27 | 5.4% |
| MACQUARIE BANK LTD FRN SEP-26 | 5.3% |
* As at 7 December 2023. Excludes cash
Sector allocation
| Australian Senior Bank FRNs | 100.0% |
|---|
* As of 31 October 2023
Performance
Fund returns after fees (%)
| Fund | Index | |
|---|---|---|
| 1 month | 0.51% | 0.50% |
| 3 months | 1.14% | 1.12% |
| 6 months | 2.65% | 2.62% |
| 1 year | 5.19% | 5.17% |
| 3 year p.a. | 1.82% | 1.91% |
| 5 year p.a. | 2.34% | 2.48% |
| 10 year p.a. | - | 2.94% |
| Since inception | 2.43% | 2.57% |
| Inception date | 1-Jun-17 | - |
* As at 30 November 2023.
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* | 3.8% |
*As at 31 October 2023. 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.