BetaShares Australian Investment Grade Corporate Bond ETF | CRED
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OVERVIEW

About

The Fund aims to track the performance of an index (before fees and expenses) that provides exposure to a portfolio of investment grade fixed-rate Australian corporate bonds. The Fund’s strategy will preference securities offering superior expected excess returns over Australian government bonds.

  • Aims to provide attractive income distributions, paid monthly, combined with compelling portfolio diversification benefits
  • By selecting bonds based upon expected returns rather than debt outstanding, CRED’s index methodology seeks to avoid shortcomings of traditional debt-weighted indices and provide relatively higher returns
  • The portfolio is comprised of senior, fixed rate, investment grade securities denominated in Australian dollars, issued by companies listed on the ASX or other eligible entities
  • Eligible bonds must have amounts outstanding of at least $250m and a term to maturity of between 5.25 to 10.25 years
  • Up to 35 bonds are selected from eligible universe, with each bond assigned an equal weight as at each rebalance date
  • No single issuer shall have a weight in excess of 7% at each re-balance date

Advantages

  • Regular, attractive income – income paid monthly, and expected to exceed income paid on cash, term deposits, government and composite bond exposures
  • Diversification & defence – investment grade fixed-rate Australian corporate bonds have historically tended to rise in value when Australian shares have fallen, providing diversification benefits and defensive characteristics to portfolios
  • Low cost – management costs of only 0.25% p.a.
  • Ranking – underlying portfolio comprises senior bonds, which rank above shareholders in the event of issuer default
  • Access – simple way to access a portfolio of Australian investment grade corporate bonds, which are inaccessible to most investors directly
  • Transparent – portfolio holdings, value of Fund’s assets, yield information and net asset value per unit available daily on our website
  • Liquidity – available to trade on the ASX like any share

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 20 June 2019

Current Price
Last Trade* $27.27
% Change (prev day) 0.29%
Bid (delayed) $27.23
Offer (delayed) $27.27
*Data is delayed by at least 20 minutes.
Download NAV history
NAV
NAV/Unit * $27.09
* As at 18 June 2019

Profile

Net Assets* ($A) $229,743,267
Units Outstanding* (#) 8,481,683
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 18 June 2019
* 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.
3.74 % 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.
2.77 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.34 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%.
6.19 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 20 June 2019

Portfolio Holdings

Name Weight (%)
AUSNET SERVICES HOLDINGS MTN 4.200 21 Aug 28 7.0
MET LIFE GLOB FUNDING I MTN 4.000 13 Jul 27 6.2
AUSGRID FINANCE PTY LTD MTN 3.7500 30 Oct 2024 5.1
AUSNET SERVICES HOLDINGS MTN 4.4000 16 Aug 2027 4.8
VODAFONE GROUP PLC MTN 4.2000 13 Dec 2027 4.1
MCDONALD'S CORP MTN 3.800 08 Mar 29 4.0
BPCE SA MTN 4.5000 26 Apr 2028 4.0
FONTERRA COOPERATIVE GRP MTN 4.0000 02 Nov 2027 4.0
AT&T INC MTN 4.600 19 Sep 28 3.9
CALTEX AUSTRALIA LTD MTN 4.0000 17 Apr 2025 3.9
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
ANVAU 4.2 08/21/28 Corp AUSNET SERVICES HOLDINGS MTN 4.200 21 Aug 28 7.0 Bonds Australia AUD 16,280,000 $18,393,144 $18,393,144 2028-08-21 4.2 2.5981435876872414 7.606465383529638
MET 4 07/13/27 Corp MET LIFE GLOB FUNDING I MTN 4.000 13 Jul 27 6.2 Bonds United States AUD 15,000,000 $16,345,800 $16,345,800 2027-07-13 4.0 2.75017338986319 6.812055687252029
AUSGF 3.75 10/30/24 Corp AUSGRID FINANCE PTY LTD MTN 3.7500 30 Oct 2024 5.1 Bonds Australia AUD 12,600,000 $13,500,648 $13,500,648 2024-10-30 3.75 2.32081841118464 4.628006389204311
ANVAU 4.4 08/16/27 Corp AUSNET SERVICES HOLDINGS MTN 4.4000 16 Aug 2027 4.8 Bonds Australia AUD 11,120,000 $12,728,174 $12,728,174 2027-08-16 4.4 2.431943987673242 6.852222023505544
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC MTN 4.2000 13 Dec 2027 4.1 Bonds Communication Services Britain AUD 9,960,000 $10,775,824 $10,775,824 2027-12-13 4.2 3.0932812595192845 7.153717264556016
MCD 3.8 03/08/29 Corp MCDONALD'S CORP MTN 3.800 08 Mar 29 4.0 Bonds Consumer Discretionary United States AUD 9,870,000 $10,641,439 $10,641,439 2029-03-08 3.8 2.8712034326448688 7.901241493511685
BPCEGP 4.5 04/26/28 Corp BPCE SA MTN 4.5000 26 Apr 2028 4.0 Bonds France AUD 9,720,000 $10,639,415 $10,639,415 2028-04-26 4.5 3.2592563452580077 7.299243951463066
FCGNZ 4 11/02/27 Corp FONTERRA COOPERATIVE GRP MTN 4.0000 02 Nov 2027 4.0 Bonds Consumer Staples New Zealand AUD 9,500,000 $10,489,805 $10,489,805 2027-11-02 4.0 2.60411879754197 7.123803467982274
T 4.6 09/19/28 Corp AT&T INC MTN 4.600 19 Sep 28 3.9 Bonds Communication Services United States AUD 9,350,000 $10,401,314 $10,401,314 2028-09-19 4.6 3.184610533808688 7.525846186906463
CTXAU 4 04/17/25 Corp CALTEX AUSTRALIA LTD MTN 4.0000 17 Apr 2025 3.9 Bonds Energy Australia AUD 9,620,000 $10,379,114 $10,379,114 2025-04-17 4.0 2.53141111872156 4.973222255847428
VZ 4.5 08/17/27 Corp VERIZON COMMUNICATIONS MTN 4.500 17 Aug 27 3.8 Bonds Communication Services United States AUD 8,990,000 $10,103,232 $10,103,232 2027-08-17 4.5 2.790212585026007 6.804918178921249
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD MTN 4.1500 15 Dec 2027 3.7 Bonds Financials Australia AUD 9,040,000 $9,755,335 $9,755,335 2027-12-15 4.15 3.081827879504423 7.170183029036338
TLSAU 4 04/19/27 Corp TELSTRA CORP LTD MTN 4.0000 19 Apr 2027 3.6 Bonds Communication Services Australia AUD 8,650,000 $9,535,847 $9,535,847 2027-04-19 4.0 2.5469480540374514 6.721791740288013
EBIUH 4.75 02/09/28 Corp EMIRATES NBD PJSC MTN 4.7500 09 Feb 2028 3.3 Bonds Financials United Arab Emirates AUD 7,770,000 $8,691,056 $8,691,056 2028-02-09 4.75 3.1684104623229237 7.047835623521468
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC MTN 4.2500 22 Nov 2027 3.2 Bonds Financials Britain AUD 7,890,000 $8,507,550 $8,507,550 2027-11-22 4.25 3.1816384605087684 7.077311072187491
ABIBB 3.75 09/06/24 Corp FBG FINANCE PTY LTD MTN 3.7500 06 Sep 2024 3.1 Bonds Belgium AUD 7,650,000 $8,212,352 $8,212,352 2024-09-06 3.75 2.2441183493820374 4.69063880720348
AAA AU BETASHARES AUSTRALIAN HIGH INT 3.0 Equities Financials Australia AUD 160,000 $8,017,600 $8,017,600
CBAAU 4.2 06/11/26 Corp COMMONWEALTH BANK AUST MTN 4.2000 11 Jun 2026 2.8 Bonds Financials Australia AUD 6,500,000 $7,292,350 $7,292,350 2026-06-11 4.2 2.2958514031626476 6.090036285219878
LLOYDS 4 03/07/25 Corp LLOYDS BANKING GROUP PLC MTN 4.0000 07 Mar 2025 2.7 Bonds Financials Britain AUD 6,650,000 $7,035,700 $7,035,700 2025-03-07 4.0 2.8891301728932937 5.0457973516364785
ARNDTN 4.5 05/14/25 Corp AROUNDTOWN SA MTN 4.5000 14 May 2025 2.6 Bonds Real Estate Germany AUD 6,520,000 $6,924,436 $6,924,436 2025-05-14 4.5 3.3307647560402445 5.1519762256355515
ABIBB 4.1 09/06/27 Corp FBG FINANCE PTY LTD MTN 4.1000 06 Sep 2027 2.6 Bonds Belgium AUD 6,280,000 $6,855,436 $6,855,436 2027-09-06 4.1 2.8391718452065544 6.930752513212702
AIOAU 5.4 05/12/27 Corp ASCIANO FINANCE LTD MTN 5.4000 12 May 2027 2.4 Bonds Australia AUD 5,630,000 $6,335,158 $6,335,158 2027-05-12 5.4 3.562891111674691 6.464652689183441
BACAU 3.9 04/24/25 Corp BRISBANE AIRPORT CORP LT MTN 3.9000 24 Apr 2025 2.2 Bonds Australia AUD 5,410,000 $5,854,756 $5,854,756 2025-04-24 3.9 2.3816856977776917 5.207308769750812
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD MTN 4.9000 01 Feb 2028 2.2 Bonds Qatar AUD 5,080,000 $5,695,086 $5,695,086 2028-02-01 4.9 3.273470419061875 6.985336213310266
RABOBK 4.25 05/12/26 Corp RABOBANK NEDERLAND AU MTN 4.2500 12 May 2026 2.0 Bonds Netherlands AUD 4,640,000 $5,182,462 $5,182,462 2026-05-12 4.25 2.3969814632981397 5.996448776443686
VZ 4.05 02/17/25 Corp VERIZON COMMUNICATIONS MTN 4.0500 17 Feb 2025 1.9 Bonds Communication Services United States AUD 4,730,000 $5,149,504 $5,149,504 2025-02-17 4.05 2.363255706881146 5.009093719912692
LOFINA 3.9 10/15/25 Corp LONSDALE FINANCE PTY LTD MTN 3.900 15 Oct 25 1.9 Bonds Australia AUD 4,700,000 $5,073,133 $5,073,133 2025-10-15 3.9 2.5299622341999846 5.381069941471138
NETFIN 3.5 12/06/24 Corp NETWORK FINANCE CO PTY L MTN 3.500 06 Dec 24 1.8 Bonds Australia AUD 4,500,000 $4,740,300 $4,740,300 2024-12-06 3.5 2.4476554580917265 4.724375802716724
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD MTN 4.5000 31 Mar 2027 1.3 Bonds Australia AUD 2,950,000 $3,323,146 $3,323,146 2027-03-31 4.5 2.6855028770240095 6.390992009492573
AUD AUD - Australia Dollar 0.8 Cash AUD 2,046,972 $2,046,972 $2,046,972
ETSA 3.5 08/29/24 Corp ETSA UTILITIES FINANCE MTN 3.5000 29 Aug 2024 0.5 Bonds Australia AUD 1,200,000 $1,275,336 $1,275,336 2024-08-29 3.5 2.2105576138313254 4.487002806714131
RY 4.2 06/22/26 Corp ROYAL BANK OF CANADA/SYD MTN 4.2000 22 Jun 2026 0.4 Bonds Canada AUD 1,000,000 $1,116,470 $1,116,470 2026-06-22 4.2 2.382424913219169 6.11457338579878
WSTP 4.125 06/04/26 Corp WESTPAC BANKING CORP MTN 4.1250 04 Jun 2026 0.4 Bonds Financials Australia AUD 1,000,000 $1,116,670 $1,116,670 2026-06-04 4.125 2.297837641088047 6.081843594901428
CEUAU 3.4 03/25/26 Corp CONNECTEAST FINANCE PTY MTN 3.400 25 Mar 26 0.4 Bonds Australia AUD 900,000 $942,507 $942,507 2026-03-25 3.4 2.6316042107310436 5.7848306601577315
ENPGAS 3.642 12/11/24 Corp ENERGY PARTNERSHIP GAS MTN 3.6420 11 Dec 2024 0.3 Bonds Australia AUD 700,000 $739,802 $739,802 2024-12-11 3.642 2.521517165588905 4.746053767758278
AIANZ 4.5 09/23/27 Corp AUCKLAND INTL AIRPORT MTN 4.5000 23 Sep 2027 0.1 Bonds Industrials New Zealand AUD 250,000 $287,638 $287,638 2027-09-23 4.5 2.470615510843713 6.929419790777471
IPLAU 4.3 03/18/26 Corp INCITEC PIVOT LTD MTN 4.300 18 Mar 26 0.0 Bonds Materials Australia AUD 40,000 $42,695 $42,695 2026-03-18 4.3 3.1799851486050996 5.608486715861207
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* As at 19 June 2019

Sector Allocation

Financial
38.8%
Communications
21.4%
Consumer, Non-cyclical
16.5%
Utilities
14.2%
Industrial
6.5%
Energy
2.7%
* As of 31 May 2019

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 2.29% 2.27%
3 months 5.52% 5.57%
6 months 9.40% 9.44%
1 year 11.36% 11.62%
3 year p.a - 6.38%
5 year p.a - 7.22%
Since inception (p.a) 11.36% 11.62%
Inception date 31-May-18 -
* As at 31 May 2019

Chart

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* (%) -
12 Mth Gross Distribution Yield* (%) -
Franking Level -
*As at close of previous trading day. 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)
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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ANNOUNCEMENTS

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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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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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NRWT and Fund Payment Notice information – December 2018 distributions
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NRWT and Fund Payment Notice information – November 2018 distributions
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NRWT and Fund Payment Notice information – October 2018 distributions
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NRWT and Fund Payment Notice information – September 2018 distributions
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NRWT and Fund Payment Notice information – August 2018 distributions
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NRWT and Fund Payment Notice information – July 2018 distributions
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