Global Government Bond 20+ Year ETF - Currency Hedged | BetaShares
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OVERVIEW

Fund Objective

GGOV aims to track the performance of an index (before fees and expenses) that provides exposure to a portfolio of high-quality, long-dated, income-producing bonds issued by some of the largest developed economies in the world, hedged into AUD.

Fund Strategy

GGOV’s strategy is to invest in a portfolio of long-maturity bonds issued by governments of the G7 nations (USA, Japan, Germany, United Kingdom, Italy, France and Canada). To be eligible, bonds must be issued in the country’s local currency in the respective domestic market, and have a remaining term to maturity of more than 20 years. Securities are weighted in the Fund’s index according to their market value, with a cap of 25% on any one country’s dollar duration contribution to GGOV’s index. Exposure is hedged into AUD.

Benefits of GGOV

High credit quality

Bonds issued by the national governments of G7 developed market economies are of very high credit quality.

Diversification and defence

Government bonds historically have tended to rise in periods of equity market weakness.

Attractive income, paid quarterly

GGOV’s focus on longer duration bonds means income potential is higher than for comparable bond funds that do not have this focus.

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 1 June 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 * $24.83
* As at 28 May 2020

Profile

Net Assets* ($A) $1,986,740
Units Outstanding* (#) 80,000
Mgmt Costs** (% p.a.) 0.22%
Distribution Frequency Quarterly
Distribution Reinvestment Plan (DRP) Full or partial participation available
Investment Manager BetaShares Capital Ltd
Fund Administrator RBC Investor Services
Custodian RBC Investor Services
Registry Link Market Services
Auditor KPMG
* As at 28 May 2020
* As of close of previous day
**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code GGOV
Bloomberg Code GGOV AU
IRESS Code GGOV.AXW
Trading Hours 10:00-16:00 (AEST)
Market Makers Susquehanna
SMSF Eligible Yes

Index Information

Index S&P G7 Sovereign Duration-Capped 20+ Year AUD Hedged Bond Index
Index Provider S&P Dow Jones Indices LLC
Index Ticker N/A
Bloomberg Index Ticker SPG7SDC Index

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.
1.87 % 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.
0.94 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
27.27 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%.
21.00 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
AA
As at 01 June 2020

Portfolio Holdings

Name Weight (%)
UNITED KINGDOM GILT 3.25% JAN-44 5.5
UNITED KINGDOM GILT 4.25% DEC-49 4.8
JAPAN GOVERNMENT THIRTY YEAR BOND 1.9% SEP-42 4.5
UNITED KINGDOM GILT 4.0% JAN-60 4.3
FRENCH REPUBLIC GOVERNMENT BOND OAT 4.5% APR-41 4.0
UNITED STATES TREASURY NOTE/BOND 3.75% NOV-43 3.9
UNITED KINGDOM GILT 3.75% JUL-52 3.7
FRENCH REPUBLIC GOVERNMENT BOND OAT 4.0% APR-60 3.7
UNITED STATES TREASURY NOTE/BOND 2.0% FEB-50 3.6
BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE 2.5% AUG-46 3.5
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
UKT 3.25 01/22/44 Govt UNITED KINGDOM GILT 3.25% JAN-44 5.5 Government Bond Britain GBP 36,000 $105,759 $105,759 2044-01-22 3.25 0.5915 18.1047
UKT 4.25 12/07/49 Govt UNITED KINGDOM GILT 4.25% DEC-49 4.8 Government Bond Britain GBP 25,000 $92,340 $92,340 2049-12-07 4.25 0.5814 20.8427
JGB 1.9 09/20/42 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 1.9% SEP-42 4.5 Government Bond Japan JPY 4,700,000 $86,416 $86,416 2042-09-20 1.9 0.3435 20.6544
UKT 4 01/22/60 Govt UNITED KINGDOM GILT 4.0% JAN-60 4.3 Government Bond Britain GBP 20,000 $84,119 $84,119 2060-01-22 4.0 0.4783 26.5738
FRTR 4.5 04/25/41 Govt FRENCH REPUBLIC GOVERNMENT BOND OAT 4.5% APR-41 4.0 Government Bond France EUR 26,000 $78,351 $78,351 2041-04-25 4.5 0.4352 15.7801
T 3.75 11/15/43 Govt UNITED STATES TREASURY NOTE/BOND 3.75% NOV-43 3.9 Government Bond United States USD 34,000 $75,946 $75,946 2043-11-15 3.75 1.3225 17.1991
UKT 3.75 07/22/52 Govt UNITED KINGDOM GILT 3.75% JUL-52 3.7 Government Bond Britain GBP 20,000 $72,017 $72,017 2052-07-22 3.75 0.5452 22.6676
FRTR 4 04/25/60 Govt FRENCH REPUBLIC GOVERNMENT BOND OAT 4.0% APR-60 3.7 Government Bond France EUR 20,000 $70,837 $70,837 2060-04-25 4.0 0.7312 26.4138
T 2 02/15/50 Govt UNITED STATES TREASURY NOTE/BOND 2.0% FEB-50 3.6 Government Bond United States USD 41,000 $70,549 $70,549 2050-02-15 2.0 1.3947 22.8223
DBR 2.5 08/15/46 Govt BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE 2.5% AUG-46 3.5 Government Bond Germany EUR 24,000 $66,904 $66,904 2046-08-15 2.5 -0.0552 21.0108
T 3 02/15/49 Govt UNITED STATES TREASURY NOTE/BOND 3.0% FEB-49 3.2 Government Bond United States USD 30,000 $62,174 $62,174 2049-02-15 3.0 1.3862 20.7105
T 3 02/15/48 Govt UNITED STATES TREASURY NOTE/BOND 3.0% FEB-48 3.2 Government Bond United States USD 30,000 $61,675 $61,675 2048-02-15 3.0 1.3869 20.1607
T 3 02/15/47 Govt UNITED STATES TREASURY NOTE/BOND 3.0% FEB-47 3.2 Government Bond United States USD 30,000 $61,345 $61,345 2047-02-15 3.0 1.3732 19.6153
T 3 11/15/44 Govt UNITED STATES TREASURY NOTE/BOND 3.0% NOV-44 3.1 Government Bond United States USD 30,000 $60,290 $60,290 2044-11-15 3.0 1.3652 18.4315
JGB 1.7 03/20/54 Govt JAPAN GOVERNMENT FORTY YEAR BOND 1.7% MAR-54 3.0 Government Bond Japan JPY 3,000,000 $57,163 $57,163 2054-03-20 1.7 0.4410 29.3399
T 2.5 02/15/46 Govt UNITED STATES TREASURY NOTE/BOND 2.5% FEB-46 2.9 Government Bond United States USD 30,000 $55,762 $55,762 2046-02-15 2.5 1.3929 19.6402
JGB 0.6 12/20/46 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 0.6% DEC-46 2.8 Government Bond Japan JPY 3,800,000 $54,719 $54,719 2046-12-20 0.6 0.4495 23.6579
JGB 0.4 12/20/49 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 0.4% DEC-49 2.8 Government Bond Japan JPY 4,000,000 $54,160 $54,160 2049-12-20 0.4 0.5020 25.6857
JGB 1.7 06/20/44 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 1.7% JUN-44 2.6 Government Bond Japan JPY 2,800,000 $50,337 $50,337 2044-06-20 1.7 0.3730 21.9392
BTPS 4.75 09/01/44 Govt ITALY BUONI POLIENNALI DEL TESORO 4.75% SEP-44 2.5 Government Bond Italy EUR 20,000 $48,082 $48,082 2044-09-01 4.75 2.3529 15.8590
DBR 2.5 07/04/44 Govt BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE 2.5% JUL-44 2.4 Government Bond Germany EUR 17,000 $46,216 $46,216 2044-07-04 2.5 -0.0965 19.5429
JGB 0.7 06/20/48 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 0.7% JUN-48 2.2 Government Bond Japan JPY 2,900,000 $42,729 $42,729 2048-06-20 0.7 0.4595 24.7730
T 3 05/15/42 Govt UNITED STATES TREASURY NOTE/BOND 3.0% MAY-42 2.1 Government Bond United States USD 20,000 $39,917 $39,917 2042-05-15 3.0 1.2744 16.9862
UKT 1.625 10/22/54 Govt UNITED KINGDOM GILT 1.625% OCT-54 2.0 Government Bond Britain GBP 15,500 $38,403 $38,403 2054-10-22 1.625 0.5475 27.6274
UKT 1.625 10/22/71 Govt UNITED KINGDOM GILT 1.625% OCT-71 2.0 Government Bond Britain GBP 13,000 $37,799 $37,799 1971-10-22 1.625 0.3985 38.6175
T 4.75 02/15/41 Govt UNITED STATES TREASURY NOTE/BOND 4.75% FEB-41 1.9 Government Bond United States USD 15,000 $37,306 $37,306 2041-02-15 4.75 1.1699 14.9608
BTPS 2.45 09/01/50 Govt ITALY BUONI POLIENNALI DEL TESORO 2.45% SEP-50 1.9 Government Bond Italy EUR 22,000 $37,141 $37,141 2050-09-01 2.45 2.3983 20.9738
FRTR 2 05/25/48 Govt FRENCH REPUBLIC GOVERNMENT BOND OAT 2.0% MAY-48 1.9 Government Bond France EUR 16,000 $35,979 $35,979 2048-05-25 2.0 0.6288 22.5652
BTPS 2.7 03/01/47 Govt ITALY BUONI POLIENNALI DEL TESORO 2.7% MAR-47 1.8 Government Bond Italy EUR 20,000 $35,777 $35,777 2047-03-01 2.7 2.3374 18.9599
JGB 0.5 03/20/59 Govt JAPAN GOVERNMENT FORTY YEAR BOND 0.5% MAR-59 1.8 Government Bond Japan JPY 2,500,000 $34,460 $34,460 2059-03-20 0.5 0.5265 32.1840
FRTR 0.75 05/25/52 Govt FRENCH REPUBLIC GOVERNMENT BOND OAT 0.75% MAY-52 1.8 Government Bond France EUR 20,000 $33,873 $33,873 2052-05-25 0.75 0.6892 28.3878
DBR 3.25 07/04/42 Govt BUNDESREPUBLIK DEUTSCHLAND BUNDESANLEIHE 3.25% JUL-42 1.5 Government Bond Germany EUR 10,000 $29,261 $29,261 2042-07-04 3.25 -0.1295 17.4672
CAN 2 12/01/51 Govt CANADIAN GOVERNMENT BOND 2.0% DEC-51 1.2 Government Bond Canada CAD 17,000 $22,849 $22,849 2051-12-01 2.0 1.1155 24.3128
JGB 2.2 03/20/41 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 2.2% MAR-41 1.0 Government Bond Japan JPY 1,000,000 $19,017 $19,017 2041-03-20 2.2 0.3155 19.4533
CAN 3.5 12/01/45 Govt CANADIAN GOVERNMENT BOND 3.5% DEC-45 0.9 Government Bond Canada CAD 11,000 $18,336 $18,336 2045-12-01 3.5 1.1049 18.7563
JGB 1.4 09/20/45 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 1.4% SEP-45 0.9 Government Bond Japan JPY 1,000,000 $17,084 $17,084 2045-09-20 1.4 0.4045 22.8994
EUR EUR - EURO 0.6 Cash EUR 6,477 $10,782 $10,782
JGB 1.8 09/20/43 Govt JAPAN GOVERNMENT THIRTY YEAR BOND 1.8% SEP-43 0.5 Government Bond Japan JPY 500,000 $9,109 $9,109 2043-09-20 1.8 0.3580 21.4476
GBP GBP - BRITISH POUND 0.4 Cash GBP 4,223 $7,824 $7,824
AUD AUD - AUSTRALIA DOLLAR 0.4 Cash AUD 6,808 $6,808 $6,808
USD USD - UNITED STATES DOLLAR 0.1 Cash USD 1,880 $2,820 $2,820
CAD CAD - CANADA DOLLAR 0.1 Cash CAD 1,439 $1,567 $1,567
JPY JPY - JAPANESE YEN 0.1 Cash JPY 77,662 $1,080 $1,080
AUD AUD - AUSTRALIA DOLLAR FX Forwards AUD 1,990,604 $1,990,604
CAD CAD - CANADA DOLLAR FX Forwards CAD -39,568 -$43,084
EUR EUR - EURO FX Forwards EUR -293,342 -$488,334
GBP GBP - BRITISH POUND FX Forwards GBP -239,647 -$443,980
JPY JPY - JAPANESE YEN FX Forwards JPY -31,046,845 -$431,710
USD USD - UNITED STATES DOLLAR FX Forwards USD -354,090 -$531,108
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* As at 29 May 2020

PERFORMANCE

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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 Quarterly
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)
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