BetaShares Australian Investment Grade Corporate Bond ETF | CRED
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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 9 April 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 * $26.13
* As at 8 April 2020

Profile

Net Assets* ($A) $325,040,062
Units Outstanding* (#) 12,439,608
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 8 April 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.
3.65 % 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.
3.19 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.71 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%.
6.56 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 09 April 2020

Portfolio Holdings

Name Weight (%)
FONTERRA CO-OPERATIVE GROUP LTD 4.0% NOV-27 5.9
BARCLAYS PLC 4.0% JUN-29 5.2
BPCE SA 4.5% APR-28 5.2
LLOYDS BANKING GROUP PLC 4.25% NOV-27 5.1
QNB FINANCE LTD 4.9% FEB-28 5.0
INCITEC PIVOT LTD 4.3% MAR-26 4.8
METROPOLITAN LIFE GLOBAL FUNDING I 4.0% JUL-27 4.6
AUSNET SERVICES HOLDINGS PTY LTD 4.2% AUG-28 4.6
VODAFONE GROUP PLC 4.2% DEC-27 4.4
EMIRATES NBD BANK PJSC 4.75% FEB-28 4.0
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
FCGNZ 4 11/02/27 Corp FONTERRA CO-OPERATIVE GROUP LTD 4.0% NOV-27 5.9 Bonds Consumer Staples New Zealand AUD 17,200,000 $19,024,748 $19,024,748 2027-11-02 4.0 2.4515 6.4593
BACR 4 06/26/29 Corp BARCLAYS PLC 4.0% JUN-29 5.2 Bonds Financials Britain AUD 16,000,000 $16,684,640 $16,684,640 2029-06-26 4.0 3.4525 7.6003
BPCEGP 4.5 04/26/28 Corp BPCE SA 4.5% APR-28 5.2 Bonds France AUD 14,840,000 $16,632,969 $16,632,969 2028-04-26 4.5 2.8087 6.6858
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC 4.25% NOV-27 5.1 Bonds Financials Britain AUD 15,570,000 $16,565,546 $16,565,546 2027-11-22 4.25 3.2919 6.4049
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD 4.9% FEB-28 5.0 Bonds Qatar AUD 14,680,000 $16,281,294 $16,281,294 2028-02-01 4.9 3.3011 6.4824
IPLAU 4.3 03/18/26 Corp INCITEC PIVOT LTD 4.3% MAR-26 4.8 Bonds Materials Australia AUD 15,010,000 $15,429,830 $15,429,830 2026-03-18 4.3 3.7676 4.9955
MET 4 07/13/27 Corp METROPOLITAN LIFE GLOBAL FUNDING I 4.0% JUL-27 4.6 Bonds United States AUD 14,031,000 $14,966,447 $14,966,447 2027-07-13 4.0 2.9699 6.2425
ANVAU 4.2 08/21/28 Corp AUSNET SERVICES HOLDINGS PTY LTD 4.2% AUG-28 4.6 Bonds Australia AUD 13,010,000 $14,749,957 $14,749,957 2028-08-21 4.2 2.4208 7.0950
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC 4.2% DEC-27 4.4 Bonds Communication Services Britain AUD 13,690,000 $14,261,558 $14,261,558 2027-12-13 4.2 3.5717 6.4514
EBIUH 4.75 02/09/28 Corp EMIRATES NBD BANK PJSC 4.75% FEB-28 4.0 Bonds Financials United Arab Emirates AUD 12,000,000 $12,874,920 $12,874,920 2028-02-09 4.75 3.6683 6.5004
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD 4.15% DEC-27 3.8 Bonds Financials Australia AUD 11,310,000 $12,238,664 $12,238,664 2027-12-15 4.15 2.9451 6.5134
ABIBB 4.1 09/06/27 Corp ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.1% SEP-27 3.6 Bonds Belgium AUD 10,950,000 $11,646,749 $11,646,749 2027-09-06 4.1 3.1286 6.3598
CGJAU 2.2 11/06/26 Corp COLES GROUP TREASURY PTY LTD 2.2% NOV-26 3.5 Bonds Australia AUD 11,500,000 $11,336,930 $11,336,930 2026-11-06 2.2 2.4348 6.0059
VZ 4.5 08/17/27 Corp VERIZON COMMUNICATIONS INC 4.5% AUG-27 3.3 Bonds Communication Services United States AUD 9,580,000 $10,604,964 $10,604,964 2027-08-17 4.5 2.8725 6.2625
QANAU 2.95 11/27/29 Corp QANTAS AIRWAYS LTD 2.95% NOV-29 3.0 Bonds Industrials Australia AUD 11,050,000 $9,589,080 $9,589,080 2029-11-27 2.95 4.6711 8.0398
ORGAU 2.65 11/11/27 Corp ORIGIN ENERGY FINANCE LTD 2.65% NOV-27 2.9 Bonds Australia AUD 9,420,000 $9,206,449 $9,206,449 2027-11-11 2.65 2.9863 6.7212
LOFINA 2.45 11/20/26 Corp LONSDALE FINANCE PTY LTD 2.45% NOV-26 2.8 Bonds Australia AUD 9,120,000 $8,894,918 $8,894,918 2026-11-20 2.45 2.8627 5.9771
VZ 2.65 05/06/30 Corp VERIZON COMMUNICATIONS INC 2.65% MAY-30 2.6 Bonds Communication Services United States AUD 9,040,000 $8,506,640 $8,506,640 2030-05-06 2.65 3.3456 8.5976
CGJAU 2.65 11/06/29 Corp COLES GROUP TREASURY PTY LTD 2.65% NOV-29 2.4 Bonds Australia AUD 7,930,000 $7,652,291 $7,652,291 2029-11-06 2.65 3.0746 8.2541
TLSAU 4 04/19/27 Corp TELSTRA CORP LTD 4.0% APR-27 2.3 Bonds Communication Services Australia AUD 6,660,000 $7,297,029 $7,297,029 2027-04-19 4.0 2.5028 6.1528
CBAAU 4.2 06/11/26 Corp COMMONWEALTH BANK OF AUSTRALIA 4.2% JUN-26 2.2 Bonds Financials Australia AUD 6,350,000 $7,148,322 $7,148,322 2026-06-11 4.2 2.0171 5.4107
AU3CB0266906 Corp PACIFIC NATIONAL FINANCE PTY LTD 3.7% SEP-29 2.2 Bonds Australia AUD 7,080,000 $7,019,962 $7,019,962 2029-09-24 3.7 3.8076 7.8787
ANVAU 2.6 07/31/29 Corp AUSNET SERVICES HOLDINGS PTY LTD 2.6% JUL-29 2.1 Bonds Australia AUD 6,700,000 $6,684,255 $6,684,255 2029-07-31 2.6 2.6280 8.1638
MCD 3.8 03/08/29 Corp MCDONALD'S CORP 3.8% MAR-29 2.0 Bonds Consumer Discretionary United States AUD 6,180,000 $6,449,695 $6,449,695 2029-03-08 3.8 3.2314 7.3360
T 4.6 09/19/28 Corp AT&T INC 4.6% SEP-28 1.7 Bonds Communication Services United States AUD 5,050,000 $5,469,201 $5,469,201 2028-09-19 4.6 3.4557 7.0005
CTXAU 4 04/17/25 Corp CALTEX AUSTRALIA LTD 4.0% APR-25 1.7 Bonds Energy Australia AUD 5,000,000 $5,334,450 $5,334,450 2025-04-17 4.0 2.5655 4.3401
EBIUH 3.05 02/26/30 Corp EMIRATES NBD BANK PJSC 3.05% FEB-30 1.6 Euro Bond Financials United Arab Emirates AUD 5,750,000 $5,087,313 $5,087,313 2030-02-26 3.05 4.5098 8.2689
ANZ 4 07/22/26 Corp AUSTRALIA & NEW ZEALAND BANKING GROUP LTD 4.0% JUL-26 1.4 Bonds Financials Australia AUD 4,055,000 $4,529,273 $4,529,273 2026-07-22 4.0 2.0043 5.5492
RABOBK 4.25 05/12/26 Corp COOPERATIEVE RABOBANK UA/AUSTRALIA 4.25% MAY-26 1.3 Bonds Netherlands AUD 3,640,000 $4,089,795 $4,089,795 2026-05-12 4.25 2.0739 5.3208
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD 4.5% MAR-27 1.2 Bonds Australia AUD 3,500,000 $3,911,705 $3,911,705 2027-03-31 4.5 2.6391 5.8339
CEUAU 3.4 03/25/26 Corp CONNECTEAST FINANCE PTY LTD 3.4% MAR-26 0.9 Bonds Australia AUD 2,900,000 $3,020,930 $3,020,930 2026-03-25 3.4 2.6368 5.1591
AIANZ 4.5 09/23/27 Corp AUCKLAND INTERNATIONAL AIRPORT LTD 4.5% SEP-27 0.7 Bonds Industrials New Zealand AUD 2,050,000 $2,324,639 $2,324,639 2027-09-23 4.5 2.5136 6.3828
NETFIN 2.25 11/11/26 Corp NETWORK FINANCE CO PTY LTD 2.25% NOV-26 0.6 Bonds Australia AUD 1,800,000 $1,833,750 $1,833,750 2026-11-11 2.25 1.9448 5.8765
SUNAU 3.25 08/24/26 Corp SUNCORP-METWAY LTD 3.25% AUG-26 0.5 Bonds Australia AUD 1,600,000 $1,722,176 $1,722,176 2026-08-24 3.25 1.9652 5.7416
AUD AUD - AUSTRALIA DOLLAR 0.5 Cash AUD 1,664,839 $1,664,839 $1,664,839
RY 4.2 06/22/26 Corp ROYAL BANK OF CANADA/SYDNEY 4.2% JUN-26 0.3 Bonds Canada AUD 1,000,000 $1,094,490 $1,094,490 2026-06-22 4.2 2.5392 5.4139
LLOYDS 4.25 08/28/25 Corp LLOYDS BANK PLC 4.25% AUG-25 0.3 Bonds Britain AUD 860,000 $948,391 $948,391 2025-08-28 4.25 2.2095 4.8115
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* As at 8 April 2020

Sector Allocation

Financial
41.3%
Consumer, Non-cyclical
20.2%
Communications
14.9%
Utilities
9.7%
Consumer, Cyclical
4.8%
Basic Materials
4.7%
Industrial
2.8%
Energy
1.6%
* As of 31 March 2020

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month -4.77% -3.81%
3 months -0.51% 0.42%
6 months -1.67% -0.74%
1 year 6.01% 7.09%
3 year p.a - 7.27%
5 year p.a - 5.67%
Since inception (p.a) 7.74% 8.47%
Inception date 31-May-18 -
* As at 31 March 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* (%) 3.9%
12 Mth Gross Distribution Yield* (%) -
Franking Level -
*As at 31 March 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-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 - 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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NRWT and Fund Payment Notice information – May 2019 distributions
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NRWT and Fund Payment Notice information – April 2019 distributions
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NRWT and Fund Payment Notice information – March 2019 distributions
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NRWT and Fund Payment Notice information - February 2019 Distribution
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NRWT and Fund Payment Notice information - January 2019 Distribution
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2020 BetaShares Distribution Calendar
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