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 13 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 * $27.08
* As at 10 July 2020

Profile

Net Assets* ($A) $359,836,909
Units Outstanding* (#) 13,287,670
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 10 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.
3.39 % 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.
2.43 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.51 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%.
6.45 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 13 July 2020

Portfolio Holdings

Name Weight (%)
LLOYDS BANKING GROUP PLC MTN 4.2500 22 NOV 2027 4.8
QNB FINANCE LTD MTN 4.9000 01 FEB 2028 4.7
BPCE SA MTN 4.5000 26 APR 2028 4.6
MET LIFE GLOB FUNDING I MTN 4.000 13 JUL 27 4.5
BARCLAYS PLC MTN 4.000 26 JUN 29 4.3
AUSNET SERVICES HOLDINGS MTN 4.200 21 AUG 28 4.3
EMIRATES NBD PJSC MTN 4.7500 09 FEB 2028 4.1
WOOLWORTHS GROUP LTD MTN 2.800 20 MAY 30 3.9
MACQUARIE GROUP LTD MTN 4.1500 15 DEC 2027 3.8
INCITEC PIVOT LTD MTN 4.300 18 MAR 26 3.8
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC MTN 4.2500 22 NOV 2027 4.8 Bonds AUD 15,570,000 $17,120,616 $17,120,616 2027-11-22 4.25 2.7400 6.3200
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD MTN 4.9000 01 FEB 2028 4.7 Bonds AUD 15,380,000 $17,008,588 $17,008,588 2028-02-01 4.9 3.3000 6.2400
BPCEGP 4.5 04/26/28 Corp BPCE SA MTN 4.5000 26 APR 2028 4.6 Bonds AUD 14,840,000 $16,451,921 $16,451,921 2028-04-26 4.5 2.9300 6.5700
MET 4 07/13/27 Corp MET LIFE GLOB FUNDING I MTN 4.000 13 JUL 27 4.5 Bonds AUD 14,531,000 $16,146,411 $16,146,411 2027-07-13 4.0 2.2700 6.1500
BACR 4 06/26/29 Corp BARCLAYS PLC MTN 4.000 26 JUN 29 4.3 Bonds AUD 14,500,000 $15,462,220 $15,462,220 2029-06-26 4.0 3.1400 7.5300
ANVAU 4.2 08/21/28 Corp AUSNET SERVICES HOLDINGS MTN 4.200 21 AUG 28 4.3 Bonds AUD 13,010,000 $15,304,183 $15,304,183 2028-08-21 4.2 1.8500 6.9000
EBIUH 4.75 02/09/28 Corp EMIRATES NBD PJSC MTN 4.7500 09 FEB 2028 4.1 Bonds AUD 13,500,000 $14,762,520 $14,762,520 2028-02-09 4.75 3.3400 6.2800
WOWAU 2.8 05/20/30 Corp WOOLWORTHS GROUP LTD MTN 2.800 20 MAY 30 3.9 Bonds AUD 13,700,000 $14,188,679 $14,188,679 1930-05-20 2.8 2.3900 8.5600
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD MTN 4.1500 15 DEC 2027 3.8 Bonds AUD 12,400,000 $13,775,532 $13,775,532 2027-12-15 4.15 2.5000 6.4200
IPLAU 4.3 03/18/26 Corp INCITEC PIVOT LTD MTN 4.300 18 MAR 26 3.8 Bonds AUD 13,010,000 $13,747,667 $13,747,667 2026-03-18 4.3 3.2000 4.7800
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC MTN 4.2000 13 DEC 2027 3.8 Bonds AUD 12,190,000 $13,712,775 $13,712,775 2027-12-13 4.2 2.3500 6.4200
VZ 4.5 08/17/27 Corp VERIZON COMMUNICATIONS MTN 4.500 17 AUG 27 3.7 Bonds AUD 11,420,000 $13,415,645 $13,415,645 2027-08-17 4.5 1.8600 6.0800
FCGNZ 4 11/02/27 Corp FONTERRA COOPERATIVE GRP MTN 4.0000 02 NOV 2027 3.6 Bonds AUD 11,200,000 $12,867,232 $12,867,232 2027-11-02 4.0 1.8100 6.3700
CGJAU 2.2 11/06/26 Corp COLES GROUP TREASURY MTN 2.200 06 NOV 26 3.3 Bonds AUD 11,500,000 $11,858,455 $11,858,455 2026-11-06 2.2 1.6800 5.6500
CGJAU 2.65 11/06/29 Corp COLES GROUP TREASURY MTN 2.650 06 NOV 29 3.2 Bonds AUD 10,930,000 $11,397,913 $11,397,913 2029-11-06 2.65 2.1400 8.0200
MCD 3.8 03/08/29 Corp MCDONALD'S CORP MTN 3.800 08 MAR 29 3.0 Bonds AUD 9,490,000 $10,799,335 $10,799,335 2029-03-08 3.8 2.0500 7.2000
ORGAU 2.65 11/11/27 Corp ORIGIN ENERGY FINANCE MTN 2.650 11 NOV 27 2.9 Bonds AUD 10,480,000 $10,598,424 $10,598,424 2027-11-11 2.65 2.4800 6.3900
ABIBB 4.1 09/06/27 Corp FBG FINANCE PTY LTD MTN 4.1000 06 SEP 2027 2.8 Bonds AUD 8,950,000 $10,011,112 $10,011,112 2027-09-06 4.1 2.2900 6.1700
QANAU 2.95 11/27/29 Corp QANTAS AIRWAYS LTD MTN 2.950 27 NOV 29 2.8 Bonds AUD 11,050,000 $9,938,481 $9,938,481 2029-11-27 2.95 4.2600 7.9700
LOFINA 2.45 11/20/26 Corp LONSDALE FINANCE PTY LTD MTN 2.450 20 NOV 26 2.6 Bonds AUD 9,120,000 $9,210,835 $9,210,835 2026-11-20 2.45 2.2800 5.6200
EBIUH 3.05 02/26/30 Corp EMIRATES NBD BANK PJSC EURO 3.050 26 FEB 30 2.5 Euro Bond AUD 9,250,000 $9,163,143 $9,163,143 1930-02-26 3.05 3.1600 8.1700
VZ 2.65 05/06/30 Corp VERIZON COMMUNICATIONS MTN 2.650 06 MAY 30 2.5 Bonds AUD 9,040,000 $9,156,978 $9,156,978 1930-05-06 2.65 2.5000 8.5600
ANVAU 2.6 07/31/29 Corp AUSNET SERVICES HOLDINGS MTN 2.600 31 JUL 29 2.4 Bonds AUD 8,200,000 $8,508,320 $8,508,320 2029-07-31 2.6 2.1400 7.9600
AUD AUD - AUSTRALIA DOLLAR 2.2 Cash AUD 7,740,128 $7,740,128 $7,740,128
TLSAU 4 04/19/27 Corp TELSTRA CORP LTD MTN 4.0000 19 APR 2027 2.1 Bonds AUD 6,660,000 $7,668,790 $7,668,790 2027-04-19 4.0 1.6300 5.9600
AU3CB0266906 Corp PACIFIC NATIONAL FINANCE MTN 3.700 24 SEP 29 1.9 Bonds AUD 7,080,000 $6,847,918 $6,847,918 2029-09-24 3.7 4.1300 7.6000
T 4.6 09/19/28 Corp AT&T INC MTN 4.600 19 SEP 28 1.8 Bonds AUD 5,630,000 $6,442,803 $6,442,803 2028-09-19 4.6 2.6300 6.8300
NETFIN 2.25 11/11/26 Corp NETWORK FINANCE CO PTY L MTN 2.250 11 NOV 26 1.2 Bonds AUD 4,300,000 $4,397,352 $4,397,352 2026-11-11 2.25 1.8700 5.6300
RABOBK 4.25 05/12/26 Corp RABOBANK NEDERLAND AU MTN 4.2500 12 MAY 2026 1.2 Bonds AUD 3,640,000 $4,190,295 $4,190,295 2026-05-12 4.25 1.5300 5.2000
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD MTN 4.5000 31 MAR 2027 1.1 Bonds AUD 3,500,000 $4,015,760 $4,015,760 2027-03-31 4.5 2.1300 5.6200
AAA AT BETASHARES AUSTRALIAN HIGH INT 1.1 Equities AUD 80,000 $4,005,600 $4,005,600
CEUAU 3.4 03/25/26 Corp CONNECTEAST FINANCE PTY MTN 3.400 25 MAR 26 1.0 Bonds AUD 3,300,000 $3,520,176 $3,520,176 2026-03-25 3.4 2.1500 4.9300
AIANZ 4.5 09/23/27 Corp AUCKLAND INTL AIRPORT MTN 4.5000 23 SEP 2027 1.0 Bonds AUD 3,050,000 $3,440,827 $3,440,827 2027-09-23 4.5 2.5400 6.1400
ANZ 4 07/22/26 Corp AUST & NZ BANKING GROUP MTN 4.0000 22 JUL 2026 1.0 Bonds AUD 2,955,000 $3,432,173 $3,432,173 2026-07-22 4.0 1.2100 5.3400
CBAAU 4.2 06/11/26 Corp COMMONWEALTH BANK AUST MTN 4.2000 11 JUN 2026 0.7 Bonds AUD 2,150,000 $2,521,886 $2,521,886 2026-06-11 4.2 1.1600 5.3000
SUNAU 3.25 08/24/26 Corp SUNCORP-METWAY LTD MTN 3.2500 24 AUG 2026 0.6 Bonds AUD 2,100,000 $2,329,236 $2,329,236 2026-08-24 3.25 1.3800 5.5200
LLOYDS 4.25 08/28/25 Corp LLOYDS BANK PLC MTN 4.2500 28 AUG 2025 0.6 Bonds AUD 1,960,000 $2,194,298 $2,194,298 2025-08-28 4.25 1.8000 4.5800
AAPL 3.6 06/10/26 Corp APPLE INC MTN 3.600 10 JUN 26 0.4 Bonds AUD 1,300,000 $1,476,189 $1,476,189 2026-06-10 3.6 1.2100 5.3600
RY 4.2 06/22/26 Corp ROYAL BANK OF CANADA/SYD MTN 4.2000 22 JUN 2026 0.3 Bonds AUD 1,000,000 $1,154,350 $1,154,350 2026-06-22 4.2 1.4800 5.3200
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* As at 10 July 2020

Sector Allocation

Financial
39.4%
Communications
14.4%
Consumer, Non-cyclical
22.1%
Utilities
11.3%
Industrial
3.1%
Consumer, Cyclical
5.7%
Energy
0.0%
Basic Materials
4.0%
* As of 30 June 2020

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 1.69% 1.80%
3 months 2.16% 2.18%
6 months 1.63% 2.61%
1 year 3.76% 4.84%
3 year p.a - 7.47%
5 year p.a - 6.57%
Since inception (p.a) 7.88% 8.54%
Inception date 31-May-18 -
* As at 30 June 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* (%) 4.2%
12 Mth Gross Distribution Yield* (%) -
Franking Level -
*As at 30 June 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-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 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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