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 18 January 2021

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 * $28.01
* As at 15 January 2021

Profile

Net Assets* ($A) $470,890,459
Units Outstanding* (#) 16,813,385
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 15 January 2021
* 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.
3.01 % 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.
2.03 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.30 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%.
6.63 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
BBB+
As at 18 January 2021

Portfolio Holdings

Name Weight (%)
BETASHARES AUSTRALIAN HIGH INT 4.7
WOOLWORTHS GROUP LTD 2.8% MAY-30 4.5
AGI FINANCE PTY LTD 1.8152% NOV-28 4.5
AT&T INC 4.6% SEP-28 4.4
VODAFONE GROUP PLC 4.2% DEC-27 3.9
LLOYDS BANKING GROUP PLC 4.25% NOV-27 3.9
EMIRATES NBD BANK PJSC 4.75% FEB-28 3.7
BARCLAYS PLC 4.0% JUN-29 3.6
AURIZON NETWORK PTY LTD 2.9% SEP-30 3.5
COLES GROUP TREASURY PTY LTD 2.1% AUG-30 3.5
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
AAA AT BETASHARES AUSTRALIAN HIGH INT 4.7 Equities Financials Australia AUD 440,000 $22,033,000 $22,033,000
WOWAU 2.8 05/20/30 Corp WOOLWORTHS GROUP LTD 2.8% MAY-30 4.5 Bonds AUD 19,770,000 $21,339,936 $21,339,936 2030-05-20 2.8 1.9210 8.2107
AGIF 1.8152 11/23/28 Corp AGI FINANCE PTY LTD 1.8152% NOV-28 4.5 Bonds Australia AUD 21,200,000 $21,222,684 $21,222,684 2028-11-23 1.8152 1.8397 7.2575
T 4.6 09/19/28 Corp AT&T INC 4.6% SEP-28 4.4 Bonds AUD 17,150,000 $20,902,935 $20,902,935 2028-09-19 4.6 1.7526 6.5213
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC 4.2% DEC-27 3.9 Bonds AUD 15,880,000 $18,463,438 $18,463,438 2027-12-13 4.2 1.7518 6.0569
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC 4.25% NOV-27 3.9 Bonds AUD 16,120,000 $18,391,630 $18,391,630 2027-11-22 4.25 2.1320 5.9693
EBIUH 4.75 02/09/28 Corp EMIRATES NBD BANK PJSC 4.75% FEB-28 3.7 Bonds AUD 15,000,000 $17,333,325 $17,333,325 2028-02-09 4.75 2.6475 5.9594
BACR 4 06/26/29 Corp BARCLAYS PLC 4.0% JUN-29 3.6 Bonds AUD 15,500,000 $17,170,125 $17,170,125 2029-06-26 4.0 2.6036 7.2009
AZJAU 2.9 09/02/30 Corp AURIZON NETWORK PTY LTD 2.9% SEP-30 3.5 Bonds AUD 15,990,000 $16,775,349 $16,775,349 2030-09-02 2.9 2.4540 8.1066
CGJAU 2.1 08/27/30 Corp COLES GROUP TREASURY PTY LTD 2.1% AUG-30 3.5 Bonds AUD 16,240,000 $16,685,138 $16,685,138 2030-08-27 2.1 1.8812 8.4059
VZ 2.65 05/06/30 Corp VERIZON COMMUNICATIONS INC 2.65% MAY-30 3.5 Bonds AUD 15,500,000 $16,407,758 $16,407,758 2030-05-06 2.65 2.0198 8.2068
AUSGF 1.814 02/05/27 Corp AUSGRID FINANCE PTY LTD 1.814% FEB-27 3.4 Bonds Australia AUD 16,040,000 $16,281,723 $16,281,723 2027-02-05 1.814 1.6945 5.4429
UTSYDN 3.75 07/20/27 Corp UNIVERSITY OF TECHNOLOGY SYDNEY 3.75% JUL-27 3.4 Bonds AUD 14,150,000 $16,211,372 $16,211,372 2027-07-20 3.75 1.3970 5.8439
MCD 3.8 03/08/29 Corp MCDONALD'S CORP 3.8% MAR-29 3.3 Bonds AUD 13,290,000 $15,593,622 $15,593,622 2029-03-08 3.8 1.6938 6.8332
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD 4.9% FEB-28 3.3 Bonds AUD 13,380,000 $15,591,313 $15,591,313 2028-02-01 4.9 2.6651 5.9142
MET 4 07/13/27 Corp METROPOLITAN LIFE GLOBAL FUNDING I 4.0% JUL-27 3.2 Bonds AUD 13,317,000 $15,311,687 $15,311,687 2027-07-13 4.0 1.5717 5.7836
BPCEGP 4.5 04/26/28 Corp BPCE SA 4.5% APR-28 3.2 Bonds AUD 13,280,000 $15,285,878 $15,285,878 2028-04-26 4.5 2.3818 6.2228
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD 4.15% DEC-27 3.1 Bonds AUD 13,070,000 $14,748,645 $14,748,645 2027-12-15 4.15 2.1972 6.0431
IPLAU 4.3 03/18/26 Corp INCITEC PIVOT LTD 4.3% MAR-26 3.1 Bonds AUD 13,010,000 $14,700,845 $14,700,845 2026-03-18 4.3 1.9395 4.4087
LOFINA 2.1 10/15/27 Corp LONSDALE FINANCE PTY LTD 2.1% OCT-27 3.1 Bonds AUD 14,070,000 $14,525,727 $14,525,727 2027-10-15 2.1 1.6766 6.0203
EBIUH 3.05 02/26/30 Corp EMIRATES NBD BANK PJSC 3.05% FEB-30 2.6 Euro Bond AUD 12,150,000 $12,452,900 $12,452,900 2030-02-26 3.05 2.8885 7.8187
ABIBB 4.1 09/06/27 Corp ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.1% SEP-27 2.5 Bonds AUD 10,120,000 $11,959,563 $11,959,563 2027-09-06 4.1 1.4554 5.8192
ORGAU 2.65 11/11/27 Corp ORIGIN ENERGY FINANCE LTD 2.65% NOV-27 2.3 Bonds AUD 10,480,000 $11,012,960 $11,012,960 2027-11-11 2.65 1.9287 5.9915
LLCAU 3.4 10/27/27 Corp LENDLEASE FINANCE LTD 3.4% OCT-27 2.3 Bonds AUD 10,070,000 $10,713,372 $10,713,372 2027-10-27 3.4 2.4946 5.8107
AU3CB0266906 Corp PACIFIC NATIONAL FINANCE PTY LTD 3.7% SEP-29 2.2 Bonds AUD 10,080,000 $10,514,398 $10,514,398 2029-09-24 3.7 3.2842 7.1362
NETFIN 2.25 11/11/26 Corp NETWORK FINANCE CO PTY LTD 2.25% NOV-26 2.0 Bonds AUD 9,220,000 $9,700,823 $9,700,823 2026-11-11 2.25 1.4315 5.1996
QANAU 5.25 09/09/30 Corp QANTAS AIRWAYS LTD 5.25% SEP-30 1.9 Bonds AUD 7,700,000 $8,780,426 $8,780,426 2030-09-09 5.25 3.7401 7.3854
SGTOPT 2.5 07/01/30 Corp OPTUS FINANCE PTY LTD 2.5% JUL-30 1.8 Bonds AUD 7,990,000 $8,483,542 $8,483,542 2030-07-01 2.5 1.8006 8.4247
NSWENF 2.543 09/23/30 Corp NSW ELECTRICITY NETWORKS FINANCE PTY LTD 2.543% SEP-30 1.5 Corporate Bond AUD 7,010,000 $7,272,630 $7,272,630 2030-09-23 2.543 2.2062 8.3021
CPIFFI 2.485 10/28/30 Corp CPIF FINANCE PTY LTD 2.485% OCT-30 1.2 Bonds Australia AUD 5,800,000 $5,887,986 $5,887,986 2030-10-28 2.485 2.3752 8.3954
QANAU 2.95 11/27/29 Corp QANTAS AIRWAYS LTD 2.95% NOV-29 1.2 Bonds AUD 6,050,000 $5,774,997 $5,774,997 2029-11-27 2.95 3.6115 7.6516
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD 4.5% MAR-27 1.0 Bonds AUD 4,000,000 $4,745,560 $4,745,560 2027-03-31 4.5 1.5666 5.2435
CEUAU 3.4 03/25/26 Corp CONNECTEAST FINANCE PTY LTD 3.4% MAR-26 0.8 Bonds AUD 3,300,000 $3,655,031 $3,655,031 2026-03-25 3.4 1.4550 4.5244
AIANZ 4.5 09/23/27 Corp AUCKLAND INTERNATIONAL AIRPORT LTD 4.5% SEP-27 0.8 Bonds AUD 3,050,000 $3,574,082 $3,574,082 2027-09-23 4.5 1.9746 5.7795
CGJAU 2.65 11/06/29 Corp COLES GROUP TREASURY PTY LTD 2.65% NOV-29 0.5 Bonds AUD 2,070,000 $2,241,675 $2,241,675 2029-11-06 2.65 1.6974 7.6430
BACAU 4.5 12/30/30 Corp BRISBANE AIRPORT CORP PTY LTD 4.5% DEC-30 0.5 Bonds AUD 2,000,000 $2,183,630 $2,183,630 2030-12-30 4.5 3.4318 7.8987
ANVAU 2.6 07/31/29 Corp AUSNET SERVICES HOLDINGS PTY LTD 2.6% JUL-29 0.4 Bonds AUD 1,950,000 $2,112,435 $2,112,435 2029-07-31 2.6 1.7006 7.5905
NEE 2.2 12/02/26 Corp NEXTERA ENERGY CAPITAL HOLDINGS INC 2.2% DEC-26 0.4 Bonds AUD 1,760,000 $1,825,208 $1,825,208 2026-12-02 2.2 1.5881 5.4856
CHETAU 2.317 09/25/30 Corp CHARTER HALL EXCHANGE FINANCE PTY LTD 2.317% SEP-30 0.3 Bonds AUD 1,200,000 $1,226,952 $1,226,952 2030-09-25 2.317 2.1440 8.3815
QPHFIN 2.85 01/29/31 Corp QPH FINANCE CO PTY LTD 2.85% JAN-31 0.2 Bonds AUD 1,000,000 $1,079,815 $1,079,815 2031-01-29 2.85 2.1123 8.4504
VTAH1 Comdty AUST 5YR BOND FUT MAR21 Bond Future AUD 41 2021-03-15
XMH1 Comdty AUST 10Y BOND FUT MAR21 Commodity Future AUD 105 2021-03-15
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* As at 15 January 2021. Excludes cash

Sector Allocation

Financial
32.9%
Communications
13.0%
Consumer, Non-cyclical
21.1%
Utilities
15.5%
Industrial
7.3%
Consumer, Cyclical
6.9%
Basic Materials
3.4%
* As of 31 December 2020

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 0.12% 0.34%
3 months 2.68% 2.83%
6 months 5.96% 5.99%
1 year 7.69% 8.76%
3 year p.a - 8.40%
5 year p.a - 7.29%
Since inception (p.a) 8.70% 9.25%
Inception date 31-May-18 -
* As at 31 December 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* (%) 4.3%
12 Mth Gross Distribution Yield* (%) -
Franking Level -
*As at 31 December 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)
4-Jan-21 5-Jan-21 19-Jan-21 $0.08408 4.57%
1-Dec-20 2-Dec-20 16-Dec-20 $0.05236 5.51%
2-Nov-20 3-Nov-20 17-Nov-20 $0.05303 5.56%
1-Oct-20 2-Oct-20 16-Oct-20 $0.05344 5.50%
1-Sep-20 2-Sep-20 16-Sep-20 $0.05285 5.53%
3-Aug-20 4-Aug-20 18-Aug-20 $0.05659 5.72%
1-Jul-20 2-Jul-20 16-Jul-20 $0.25638 5.78%
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 2020
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NRWT and Fund Payment Notice information - December 2020 distributions
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NRWT and Fund Payment Notice information - November 2020 distributions
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NRWT and Fund Payment Notice information - October 2020 distributions
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NRWT and Fund Payment Notice information - September 2020 distributions
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NRWT and Fund Payment Notice information - August 2020 distributions
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NRWT and Fund Payment Notice information - July 2020 distributions
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NRWT and Fund Payment Notice information - June 2020 distributions
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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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2020 BetaShares Distribution Calendar
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