CRED ASX ETF | Investment Grade Bond ETF | BetaShares
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OVERVIEW

Fund Objective

CRED aims to track the performance of an index (before fees and expenses) that provides intelligent exposure to a portfolio of senior, fixed-rate, investment grade Australian corporate bonds.

Fund Strategy

The Fund’s strategy will preference securities offering superior expected excess returns over Australian government bonds. Up to 35 bonds are selected, with eligible bonds requiring amounts outstanding of >$250m and a term to maturity of between 5.25 to 10.25 years.

Benefits of CRED

Attractive income paid monthly

Income is paid monthly at a rate expected to be higher than term deposits, government and composite bond exposures.

Diversification & defence

Australian corporate bonds historically have tended to rise when Australian shares have fallen, providing potential diversification and defensive benefits for portfolios.

Invest in bonds intelligently

CRED selects bonds based on expected returns rather than debt outstanding, seeking to avoid the shortcomings of traditional debt-weighted indices and provide higher returns.

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 2 July 2020

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 * $26.76
* As at 1 July 2020

Profile

Net Assets* ($A) $344,811,435
Units Outstanding* (#) 12,884,034
Mgmt Costs** (% p.a.) 0.25%
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 1 July 2020
* As of close of previous day
**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code CRED
Bloomberg Code CRED AU
IRESS Code CRED.AXW
Trading Hours 10.00-16.00 (AEST)
Market Makers Deutsche Securities
SMSF Eligible Yes

Index Information

Index Solactive Australian Investment Grade Corporate Bond Select TR Index
Index Provider Solactive AG
Index Ticker N/A
Bloomberg Index Ticker SOLAUSIG 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.
3.45 % 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. Reflects annualised costs and benefits associated with FX-hedging, where relevant.
2.61 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.58 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%.
6.49 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 02 July 2020

Portfolio Holdings

Name Weight (%)
QNB FINANCE LTD 4.9% FEB-28 4.9
LLOYDS BANKING GROUP PLC 4.25% NOV-27 4.9
BPCE SA 4.5% APR-28 4.7
METROPOLITAN LIFE GLOBAL FUNDING I 4.0% JUL-27 4.4
BARCLAYS PLC 4.0% JUN-29 4.4
AUSNET SERVICES HOLDINGS PTY LTD 4.2% AUG-28 4.4
EMIRATES NBD BANK PJSC 4.75% FEB-28 4.1
INCITEC PIVOT LTD 4.3% MAR-26 3.9
MACQUARIE GROUP LTD 4.15% DEC-27 3.9
VODAFONE GROUP PLC 4.2% DEC-27 3.9
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD 4.9% FEB-28 4.9 Bonds AUD 15,380,000 $17,009,050 $17,009,050 2028-02-01 4.9 3.3068 6.2603
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC 4.25% NOV-27 4.9 Bonds AUD 15,570,000 $16,914,470 $16,914,470 2027-11-22 4.25 2.9391 6.3345
BPCEGP 4.5 04/26/28 Corp BPCE SA 4.5% APR-28 4.7 Bonds AUD 14,840,000 $16,226,946 $16,226,946 2028-04-26 4.5 3.1401 6.5729
MET 4 07/13/27 Corp METROPOLITAN LIFE GLOBAL FUNDING I 4.0% JUL-27 4.4 Bonds AUD 14,031,000 $15,389,201 $15,389,201 2027-07-13 4.0 2.4885 6.1619
BACR 4 06/26/29 Corp BARCLAYS PLC 4.0% JUN-29 4.4 Bonds AUD 14,500,000 $15,200,785 $15,200,785 2029-06-26 4.0 3.3712 7.5300
ANVAU 4.2 08/21/28 Corp AUSNET SERVICES HOLDINGS PTY LTD 4.2% AUG-28 4.4 Bonds AUD 13,010,000 $15,197,762 $15,197,762 2028-08-21 4.2 1.9518 6.9119
EBIUH 4.75 02/09/28 Corp EMIRATES NBD BANK PJSC 4.75% FEB-28 4.1 Bonds AUD 13,000,000 $14,142,180 $14,142,180 2028-02-09 4.75 3.4258 6.2981
IPLAU 4.3 03/18/26 Corp INCITEC PIVOT LTD 4.3% MAR-26 3.9 Bonds AUD 13,010,000 $13,657,248 $13,657,248 2026-03-18 4.3 3.3334 4.7954
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD 4.15% DEC-27 3.9 Bonds AUD 12,400,000 $13,645,952 $13,645,952 2027-12-15 4.15 2.6530 6.4342
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC 4.2% DEC-27 3.9 Bonds AUD 12,190,000 $13,567,836 $13,567,836 2027-12-13 4.2 2.5234 6.4295
WOWAU 2.8 05/20/30 Corp WOOLWORTHS GROUP LTD 2.8% MAY-30 3.8 Bonds AUD 13,000,000 $13,280,670 $13,280,670 2030-05-20 2.8 2.5510 8.5699
FCGNZ 4 11/02/27 Corp FONTERRA CO-OPERATIVE GROUP LTD 4.0% NOV-27 3.7 Bonds AUD 11,200,000 $12,764,752 $12,764,752 2027-11-02 4.0 1.9436 6.3883
VZ 4.5 08/17/27 Corp VERIZON COMMUNICATIONS INC 4.5% AUG-27 3.5 Bonds AUD 10,480,000 $12,197,253 $12,197,253 2027-08-17 4.5 2.0161 6.0980
CGJAU 2.2 11/06/26 Corp COLES GROUP TREASURY PTY LTD 2.2% NOV-26 3.4 Bonds AUD 11,500,000 $11,746,675 $11,746,675 2026-11-06 2.2 1.8394 5.6653
CGJAU 2.65 11/06/29 Corp COLES GROUP TREASURY PTY LTD 2.65% NOV-29 3.3 Bonds AUD 10,930,000 $11,249,156 $11,249,156 2029-11-06 2.65 2.3003 8.0276
ORGAU 2.65 11/11/27 Corp ORIGIN ENERGY FINANCE LTD 2.65% NOV-27 3.0 Bonds AUD 10,480,000 $10,487,231 $10,487,231 2027-11-11 2.65 2.6401 6.4065
ABIBB 4.1 09/06/27 Corp ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.1% SEP-27 2.9 Bonds AUD 8,950,000 $9,924,834 $9,924,834 2027-09-06 4.1 2.4345 6.1863
QANAU 2.95 11/27/29 Corp QANTAS AIRWAYS LTD 2.95% NOV-29 2.9 Bonds AUD 11,050,000 $9,890,855 $9,890,855 2029-11-27 2.95 4.3201 7.9904
MCD 3.8 03/08/29 Corp MCDONALD'S CORP 3.8% MAR-29 2.8 Bonds AUD 8,580,000 $9,648,553 $9,648,553 2029-03-08 3.8 2.2137 7.2081
LOFINA 2.45 11/20/26 Corp LONSDALE FINANCE PTY LTD 2.45% NOV-26 2.6 Bonds AUD 9,120,000 $9,150,917 $9,150,917 2026-11-20 2.45 2.3920 5.6381
VZ 2.65 05/06/30 Corp VERIZON COMMUNICATIONS INC 2.65% MAY-30 2.6 Bonds AUD 9,040,000 $9,087,460 $9,087,460 2030-05-06 2.65 2.5891 8.5770
ANVAU 2.6 07/31/29 Corp AUSNET SERVICES HOLDINGS PTY LTD 2.6% JUL-29 2.4 Bonds AUD 8,200,000 $8,440,096 $8,440,096 2029-07-31 2.6 2.2410 7.9768
TLSAU 4 04/19/27 Corp TELSTRA CORP LTD 4.0% APR-27 2.2 Bonds AUD 6,660,000 $7,608,650 $7,608,650 2027-04-19 4.0 1.7635 5.9744
AU3CB0266906 Corp PACIFIC NATIONAL FINANCE PTY LTD 3.7% SEP-29 2.0 Bonds AUD 7,080,000 $6,812,518 $6,812,518 2029-09-24 3.7 4.1978 7.6191
EBIUH 3.05 02/26/30 Corp EMIRATES NBD BANK PJSC 3.05% FEB-30 1.9 Euro Bond AUD 6,750,000 $6,597,990 $6,597,990 2030-02-26 3.05 3.3247 8.1789
T 4.6 09/19/28 Corp AT&T INC 4.6% SEP-28 1.9 Bonds AUD 5,630,000 $6,429,629 $6,429,629 2028-09-19 4.6 2.6608 6.8510
CBAAU 4.2 06/11/26 Corp COMMONWEALTH BANK OF AUSTRALIA 4.2% JUN-26 1.4 Bonds AUD 4,150,000 $4,837,240 $4,837,240 2026-06-11 4.2 1.2907 5.3200
RABOBK 4.25 05/12/26 Corp COOPERATIEVE RABOBANK UA/AUSTRALIA 4.25% MAY-26 1.2 Bonds AUD 3,640,000 $4,166,999 $4,166,999 2026-05-12 4.25 1.6440 5.2181
NETFIN 2.25 11/11/26 Corp NETWORK FINANCE CO PTY LTD 2.25% NOV-26 1.2 Bonds AUD 4,100,000 $4,164,001 $4,164,001 2026-11-11 2.25 1.9868 5.6528
AAA AT BETASHARES AUSTRALIAN HIGH INT 1.2 Equities AUD 80,000 $4,005,600 $4,005,600
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD 4.5% MAR-27 1.1 Bonds AUD 3,500,000 $3,931,585 $3,931,585 2027-03-31 4.5 2.5000 5.6221
AIANZ 4.5 09/23/27 Corp AUCKLAND INTERNATIONAL AIRPORT LTD 4.5% SEP-27 1.0 Bonds AUD 3,050,000 $3,428,170 $3,428,170 2027-09-23 4.5 2.6033 6.1566
ANZ 4 07/22/26 Corp AUSTRALIA & NEW ZEALAND BANKING GROUP LTD 4.0% JUL-26 1.0 Bonds AUD 2,955,000 $3,405,726 $3,405,726 2026-07-22 4.0 1.3624 5.3579
CEUAU 3.4 03/25/26 Corp CONNECTEAST FINANCE PTY LTD 3.4% MAR-26 0.9 Bonds AUD 2,900,000 $3,077,596 $3,077,596 2026-03-25 3.4 2.2522 4.9549
AUD AUD - AUSTRALIA DOLLAR 0.8 Cash AUD 2,930,395 $2,930,395 $2,930,395
SUNAU 3.25 08/24/26 Corp SUNCORP-METWAY LTD 3.25% AUG-26 0.7 Bonds AUD 2,100,000 $2,315,124 $2,315,124 2026-08-24 3.25 1.4957 5.5408
LLOYDS 4.25 08/28/25 Corp LLOYDS BANK PLC 4.25% AUG-25 0.6 Bonds AUD 1,960,000 $2,185,576 $2,185,576 2025-08-28 4.25 1.8918 4.6007
RY 4.2 06/22/26 Corp ROYAL BANK OF CANADA/SYDNEY 4.2% JUN-26 0.3 Bonds AUD 1,000,000 $1,147,920 $1,147,920 2026-06-22 4.2 1.5894 5.3363
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* As at 1 July 2020

Sector Allocation

Financial
38.7%
Communications
14.0%
Consumer, Non-cyclical
21.9%
Utilities
11.2%
Industrial
3.1%
Consumer, Cyclical
5.6%
Energy
1.6%
Basic Materials
4.0%
* As of 29 May 2020

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 1.89% 1.86%
3 months -4.33% -3.46%
6 months -1.76% -0.92%
1 year 3.44% 4.39%
3 year p.a - 6.41%
5 year p.a - 5.94%
Since inception (p.a) 7.34% 7.96%
Inception date 31-May-18 -
* As at 29 May 2020

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* (%) 4.1%
12 Mth Gross Distribution Yield* (%) -
Franking Level -
*As at 29 May 2020. 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-Jun-20 2-Jun-20 17-Jun-20 $0.11004 5.21%
1-May-20 4-May-20 18-May-20 $0.11512 5.11%
1-Apr-20 2-Apr-20 20-Apr-20 $0.10966 5.04%
2-Mar-20 3-Mar-20 17-Mar-20 $0.14465 4.35%
3-Feb-20 4-Feb-20 18-Feb-20 $0.10131 4.06%
2-Jan-20 3-Jan-20 17-Jan-20 $0.10579 3.97%
2-Dec-19 3-Dec-19 17-Dec-19 $0.08001 3.98%
1-Nov-19 4-Nov-19 18-Nov-19 $0.06407 4.02%
1-Oct-19 2-Oct-19 16-Oct-19 $0.06671 4.29%
2-Sep-19 3-Sep-19 17-Sep-19 $0.05445 4.38%
1-Aug-19 2-Aug-19 16-Aug-19 $0.06051 4.39%
1-Jul-19 2-Jul-19 16-Jul-19 $0.12562 4.50%
3-Jun-19 4-Jun-19 19-Jun-19 $0.07664 4.41%
1-May-19 2-May-19 16-May-19 $0.07789 -
1-Apr-19 2-Apr-19 16-Apr-19 $0.07851 -
1-Mar-19 4-Mar-19 18-Mar-19 $0.07364 -
1-Feb-19 4-Feb-19 18-Feb-19 $0.07689 -
2-Jan-19 3-Jan-19 17-Jan-19 $0.08194 -
3-Dec-18 4-Dec-18 18-Dec-18 $0.07744 -
1-Nov-18 2-Nov-18 16-Nov-18 $0.08086 -
1-Oct-18 2-Oct-18 16-Oct-18 $0.07127 -
3-Sep-18 4-Sep-18 18-Sep-18 $0.07897 -
1-Aug-18 2-Aug-18 16-Aug-18 $0.08283 -
2-Jul-18 3-Jul-18 17-Jul-18 $0.07285 -
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(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. It is calculated as the difference between total Fund return and NAV return. NAV return is the change in the Fund's NAV price. Total return is the NAV return plus reinvestment of all distributions back to the Fund. Past performance not indicative of future performance.

ANNOUNCEMENTS

ASX Announcements: CRED

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RESOURCES

Factsheet - CRED
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Fund Flyer - CRED
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Product Brochure - CRED
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Portfolio Holdings
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Product Disclosure Statement - CRED
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Annual Report - June 2019
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NRWT and Fund Payment Notice information - May 2020 distributions
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NRWT and Fund Payment Notice information - April 2020 distributions
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NRWT and Fund Payment Notice information - March 2020 distributions
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NRWT and Fund Payment Notice information - February 2020 distributions
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NRWT and Fund Payment Notice information - January 2020 distributions
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NRWT and Fund Payment Notice information - December 2019 distributions
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NRWT and Fund Payment Notice information - November 2019 distributions
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NRWT and Fund Payment Notice information - October 2019 distributions
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NRWT and Fund Payment Notice information - September 2019 distributions
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NRWT and Fund Payment Notice information - August 2019 distributions
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NRWT and Fund Payment Notice information - July 2019 distributions
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NRWT and Fund Payment Notice information - June 2019 distributions
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2020 BetaShares Distribution Calendar
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