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Active (8)BetaShares Australian Investment Grade Corporate Bond ETF
Opportunity to earn attractive regular income, paid monthly, from a portfolio of investment grade Australian corporate bonds.
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.
**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.
RESOURCES
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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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