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 24 February 2019

Current Price
Last Trade* $25.81
% Change (prev day) 0.04%
Bid (delayed) $25.78
Offer (delayed) $25.82
*Data is delayed by at least 20 minutes.
Download NAV history
NAV
NAV/Unit * $25.80
* As at 21 February 2019

Profile

Net Assets* ($A) $123,880,308
Units Outstanding* (#) 4,800,774
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 21 February 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.
3.85 % 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.
3.42 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.04 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%.
5.90 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 22/02/2019

Portfolio Holdings

Name Weight (%)
CALTEX AUSTRALIA LTD MTN 4.0000 17 Apr 2025 5.4
AUSGRID FINANCE PTY LTD MTN 3.7500 30 Oct 2024 5.3
BPCE SA MTN 4.5000 26 Apr 2028 5.2
TELSTRA CORP LTD MTN 4.0000 19 Apr 2027 5.1
VODAFONE GROUP PLC MTN 4.2000 13 Dec 2027 4.9
AURIZON NETWORK PTY LTD MTN 4.0000 21 Jun 2024 4.5
FONTERRA COOPERATIVE GRP MTN 4.0000 02 Nov 2027 4.4
BRISBANE AIRPORT CORP LT MTN 3.9000 24 Apr 2025 4.1
AROUNDTOWN SA MTN 4.5000 14 May 2025 4.1
LONSDALE FINANCE PTY LTD MTN 3.900 15 Oct 25 4.0
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
CTXAU 4 04/17/25 Corp CALTEX AUSTRALIA LTD MTN 4.0000 17 Apr 2025 5.4 Bonds Energy Australia AUD 6,400,000 $6,625,792 $6,625,792 2025-04-17 4.0 3.3583138398149184 5.158620802788696
AUSGF 3.75 10/30/24 Corp AUSGRID FINANCE PTY LTD MTN 3.7500 30 Oct 2024 5.3 Bonds Australia AUD 6,300,000 $6,441,624 $6,441,624 2024-10-30 3.75 3.3114087297956587 4.824597097035273
BPCEGP 4.5 04/26/28 Corp BPCE SA MTN 4.5000 26 Apr 2028 5.2 Bonds France AUD 6,110,000 $6,307,842 $6,307,842 2028-04-26 4.5 4.072312859489049 7.378230259811744
TLSAU 4 04/19/27 Corp TELSTRA CORP LTD MTN 4.0000 19 Apr 2027 5.1 Bonds Communication Services Australia AUD 5,950,000 $6,187,167 $6,187,167 2027-04-19 4.0 3.4340758604221193 6.8437030202049405
VOD 4.2 12/13/27 Corp VODAFONE GROUP PLC MTN 4.2000 13 Dec 2027 4.9 Bonds Communication Services Britain AUD 5,790,000 $5,958,894 $5,958,894 2027-12-13 4.2 3.8059820654773997 7.267106550659359
AZJAU 4 06/21/24 Corp AURIZON NETWORK PTY LTD MTN 4.0000 21 Jun 2024 4.5 Bonds Australia AUD 5,390,000 $5,513,916 $5,513,916 2024-06-21 4.0 3.5210094602905313 4.528360932293144
FCGNZ 4 11/02/27 Corp FONTERRA COOPERATIVE GRP MTN 4.0000 02 Nov 2027 4.4 Bonds Consumer Staples New Zealand AUD 5,200,000 $5,401,136 $5,401,136 2027-11-02 4.0 3.4792826567681945 7.231482985207076
BACAU 3.9 04/24/25 Corp BRISBANE AIRPORT CORP LT MTN 3.9000 24 Apr 2025 4.1 Bonds Australia AUD 4,850,000 $4,998,556 $4,998,556 2025-04-24 3.9 3.3447003796073567 5.38386197190976
ARNDTN 4.5 05/14/25 Corp AROUNDTOWN SA MTN 4.5000 14 May 2025 4.1 Bonds Real Estate Germany AUD 4,920,000 $4,987,158 $4,987,158 2025-05-14 4.5 4.2466196739749575 5.314048628781412
LOFINA 3.9 10/15/25 Corp LONSDALE FINANCE PTY LTD MTN 3.900 15 Oct 25 4.0 Bonds Australia AUD 4,700,000 $4,836,441 $4,836,441 2025-10-15 3.9 3.406579727585557 5.553064344750453
VZ 4.05 02/17/25 Corp VERIZON COMMUNICATIONS MTN 4.0500 17 Feb 2025 3.8 Bonds Communication Services United States AUD 4,500,000 $4,673,700 $4,673,700 2025-02-17 4.05 3.3320877501931787 5.287587832610333
LLOYDS 4.25 11/22/27 Corp LLOYDS BANKING GROUP PLC MTN 4.2500 22 Nov 2027 3.6 Bonds Financials Britain AUD 4,300,000 $4,378,131 $4,378,131 2027-11-22 4.25 4.000761862140476 7.178926466689479
ANVAU 4.2 08/21/28 Corp AUSNET SERVICES HOLDINGS MTN 4.200 21 Aug 28 3.5 Bonds Australia AUD 4,100,000 $4,312,216 $4,312,216 2028-08-21 4.2 3.5523053581162665 7.824854472420565
ANVAU 4.4 08/16/27 Corp AUSNET SERVICES HOLDINGS MTN 4.4000 16 Aug 2027 3.4 Bonds Australia AUD 3,870,000 $4,150,846 $4,150,846 2027-08-16 4.4 3.406425428856786 7.088861400486233
AIOAU 5.4 05/12/27 Corp ASCIANO FINANCE LTD MTN 5.4000 12 May 2027 3.4 Bonds Australia AUD 3,890,000 $4,144,289 $4,144,289 2027-05-12 5.4 4.439855087911367 6.548632917022675
NETFIN 3.5 12/06/24 Corp NETWORK FINANCE CO PTY L MTN 3.500 06 Dec 24 3.3 Bonds Australia AUD 4,000,000 $4,039,840 $4,039,840 2024-12-06 3.5 3.3091532573065683 4.926035964004442
ABIBB 4.1 09/06/27 Corp FBG FINANCE PTY LTD MTN 4.1000 06 Sep 2027 2.9 Bonds Belgium AUD 3,500,000 $3,589,600 $3,589,600 2027-09-06 4.1 3.746130624701473 7.028631471493411
MQGAU 4.15 12/15/27 Corp MACQUARIE GROUP LTD MTN 4.1500 15 Dec 2027 2.9 Bonds Financials Australia AUD 3,460,000 $3,507,125 $3,507,125 2027-12-15 4.15 3.96451337499752 7.268381711768831
ABIBB 3.75 09/06/24 Corp FBG FINANCE PTY LTD MTN 3.7500 06 Sep 2024 2.8 Bonds Belgium AUD 3,300,000 $3,386,427 $3,386,427 2024-09-06 3.75 3.2282852718266444 4.8813814225225
LLOYDS 4 03/07/25 Corp LLOYDS BANKING GROUP PLC MTN 4.0000 07 Mar 2025 2.7 Bonds Financials Britain AUD 3,240,000 $3,266,633 $3,266,633 2025-03-07 4.0 3.845688563528769 5.216036313984459
WSOFIN 4.5 03/31/27 Corp WSO FINANCE PTY LTD MTN 4.5000 31 Mar 2027 2.6 Bonds Australia AUD 2,950,000 $3,141,101 $3,141,101 2027-03-31 4.5 3.571617578466067 6.505363077337527
SGSPAA 3.75 09/27/24 Corp SGSP AUSTRALIA ASSETS MTN 3.7500 27 Sep 2024 2.4 Bonds Australia AUD 2,850,000 $2,948,496 $2,948,496 2024-09-27 3.75 3.0708870016586465 4.945141496314505
SUNAU 3.25 08/24/26 Corp SUNCORP-METWAY LTD MTN 3.2500 24 Aug 2026 2.2 Bonds Australia AUD 2,700,000 $2,715,525 $2,715,525 2026-08-24 3.25 3.1631184611820085 6.6087162403606134
UELAU 3.85 10/23/24 Corp UNITED ENERGY DISTRIBUTI MTN 3.850 23 Oct 24 2.1 Bonds Australia AUD 2,500,000 $2,586,950 $2,586,950 2024-10-23 3.85 3.172388623894846 4.870579453486825
RABOBK 4.25 05/12/26 Corp RABOBANK NEDERLAND AU MTN 4.2500 12 May 2026 2.0 Bonds Netherlands AUD 2,350,000 $2,500,095 $2,500,095 2026-05-12 4.25 3.248224973625805 6.14575112824456
EBIUH 4.75 02/09/28 Corp EMIRATES NBD PJSC MTN 4.7500 09 Feb 2028 2.0 Bonds Financials United Arab Emirates AUD 2,270,000 $2,405,973 $2,405,973 2028-02-09 4.75 3.9489567962547634 7.290140439285954
ANZ 4 07/22/26 Corp AUST & NZ BANKING GROUP MTN 4.0000 22 Jul 2026 1.8 Bonds Financials Australia AUD 2,123,000 $2,235,222 $2,235,222 2026-07-22 4.0 3.1921573348442194 6.384143967572307
CBAAU 4.2 06/11/26 Corp COMMONWEALTH BANK AUST MTN 4.2000 11 Jun 2026 1.7 Bonds Financials Australia AUD 1,900,000 $2,021,904 $2,021,904 2026-06-11 4.2 3.2053146301855877 6.236845133876263
ETSA 3.5 08/29/24 Corp ETSA UTILITIES FINANCE MTN 3.5000 29 Aug 2024 1.0 Bonds Australia AUD 1,200,000 $1,225,920 $1,225,920 2024-08-29 3.5 3.0706321269110974 4.776001521914911
RY 4.2 06/22/26 Corp ROYAL BANK OF CANADA/SYD MTN 4.2000 22 Jun 2026 0.9 Bonds Canada AUD 1,000,000 $1,063,490 $1,063,490 2026-06-22 4.2 3.2187831810931584 6.265670371449159
RABOBK 5.5 04/11/24 Corp RABOBANK NEDERLAND AU MTN 5.5000 11 Apr 2024 0.8 Bonds Netherlands AUD 870,000 $977,071 $977,071 2024-04-11 5.5 2.8960318636283233 4.425410906858156
ENPGAS 3.642 12/11/24 Corp ENERGY PARTNERSHIP GAS MTN 3.6420 11 Dec 2024 0.6 Bonds Australia AUD 700,000 $711,074 $711,074 2024-12-11 3.642 3.3385489678942335 4.950939077492875
AUD AUD - Australia Dollar 0.3 Cash AUD 414,032 $414,032 $414,032
WSTP 4.125 06/04/26 Corp WESTPAC BANKING CORP MTN 4.1250 04 Jun 2026 0.3 Bonds Financials Australia AUD 300,000 $318,663 $318,663 2026-06-04 4.125 3.1598078356395876 6.233377297889965
AIANZ 4.5 09/23/27 Corp AUCKLAND INTL AIRPORT MTN 4.5000 23 Sep 2027 0.2 Bonds Industrials New Zealand AUD 250,000 $271,550 $271,550 2027-09-23 4.5 3.3348432683386706 7.02648391372194
QNBK 4.9 02/01/28 Corp QNB FINANCE LTD MTN 4.9000 01 Feb 2028 0.1 Bonds QA AUD 120,000 $127,576 $127,576 2028-02-01 4.9 4.050135526437396 7.227295771159965
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* As at 22 February 2019

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 0.79% 0.77%
3 months 2.26% 2.26%
6 months 3.47% 3.63%
1 year - -
3 year p.a - -
5 year p.a - -
Since inception (p.a) 4.01% 4.20%
Inception date 31-May-18 -
* As at 31 January 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 -

Recent Distributions

Ex Date Record Date Payment Date Distribution Unit ($) Annual Distribution Return (%) (1)
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

NRWT and Fund Payment Notice information - January 2019 Distribution
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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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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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