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 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 * $24.63
* As at 9 July 2020

Profile

Net Assets* ($A) $1,971,518
Units Outstanding* (#) 80,037
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 9 July 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.
1.78 % 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.
0.88 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
27.23 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%.
21.02 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
AA
As at 10 July 2020

Portfolio Holdings

Name Weight (%)
AUD - AUSTRALIA DOLLAR 24.7
UK TSY 3 1/4% 2044 3.250 22 JAN 44 5.1
JAPAN (30 YEAR ISSUE) 1.900 20 SEP 42 4.1
UK TSY 4% 2060 4.000 22 JAN 60 4.0
FRANCE (GOVT OF) EURO 4.500 25 APR 41 3.9
US TREASURY N/B 3.750 15 NOV 43 3.7
FRANCE (GOVT OF) EURO 4.000 25 APR 60 3.6
UK TSY 3 3/4% 2052 3.750 22 JUL 52 3.5
US TREASURY N/B 2.000 15 FEB 50 3.5
BUNDESREPUB. DEUTSCHLAND EURO 2.500 15 AUG 46 3.3
Ticker Name Weight (%) Asset Class Sector Country Currency Shares/Unit (#) Market Value (AUD) Notional Value (AUD) Maturity Date Coupon (%) YTM (%) Modified Duration
AUD AUD - AUSTRALIA DOLLAR 24.7 Cash AUD 493,203 $493,203 $493,203
UKT 3.25 01/22/44 Govt UK TSY 3 1/4% 2044 3.250 22 JAN 44 5.1 Government Bond GBP 36,000 $102,384 $102,384 1944-01-22 3.25 0.6400 17.9600
JGB 1.9 09/20/42 Govt JAPAN (30 YEAR ISSUE) 1.900 20 SEP 42 4.1 Government Bond JPY 4,700,000 $82,501 $82,501 1942-09-20 1.9 0.3800 20.3500
UKT 4 01/22/60 Govt UK TSY 4% 2060 4.000 22 JAN 60 4.0 Government Bond GBP 20,000 $80,507 $80,507 1960-01-22 4.0 0.5500 26.3200
FRTR 4.5 04/25/41 Govt FRANCE (GOVT OF) EURO 4.500 25 APR 41 3.9 Government Bond EUR 26,000 $78,082 $78,082 1941-04-25 4.5 0.2800 15.7600
T 3.75 11/15/43 Govt US TREASURY N/B 3.750 15 NOV 43 3.7 Government Bond USD 34,000 $73,957 $73,957 1943-11-15 3.75 1.2200 17.1600
FRTR 4 04/25/60 Govt FRANCE (GOVT OF) EURO 4.000 25 APR 60 3.6 Government Bond EUR 20,000 $71,397 $71,397 1960-04-25 4.0 0.6000 26.5700
UKT 3.75 07/22/52 Govt UK TSY 3 3/4% 2052 3.750 22 JUL 52 3.5 Government Bond GBP 20,000 $69,377 $69,377 1952-07-22 3.75 0.6000 22.4800
T 2 02/15/50 Govt US TREASURY N/B 2.000 15 FEB 50 3.5 Government Bond USD 41,000 $68,995 $68,995 1950-02-15 2.0 1.3000 22.8000
DBR 2.5 08/15/46 Govt BUNDESREPUB. DEUTSCHLAND EURO 2.500 15 AUG 46 3.3 Government Bond EUR 24,000 $65,614 $65,614 1946-08-15 2.5 -0.0900 20.9300
UKT 4.25 12/07/49 Govt UK TSY 4 1/4% 2049 4.250 07 DEC 49 3.2 Government Bond GBP 18,000 $64,243 $64,243 1949-12-07 4.25 0.6300 20.6800
T 3 02/15/49 Govt US TREASURY N/B 3.000 15 FEB 49 3.0 Government Bond USD 30,000 $60,731 $60,731 1949-02-15 3.0 1.2900 20.7000
T 3 02/15/48 Govt US TREASURY N/B 3.000 15 FEB 48 3.0 Government Bond USD 30,000 $60,226 $60,226 1948-02-15 3.0 1.2900 20.1400
T 3 02/15/47 Govt US TREASURY N/B 3.000 15 FEB 47 3.0 Government Bond USD 30,000 $59,849 $59,849 1947-02-15 3.0 1.2700 19.5900
T 3 11/15/44 Govt US TREASURY N/B 3.000 15 NOV 44 2.9 Government Bond USD 30,000 $58,779 $58,779 1944-11-15 3.0 1.2600 18.3900
T 2.5 02/15/46 Govt US TREASURY N/B 2.500 15 FEB 46 2.7 Government Bond USD 30,000 $54,463 $54,463 1946-02-15 2.5 1.2900 19.6100
JGB 1.7 03/20/54 Govt JAPAN (40 YEAR ISSUE) 1.700 20 MAR 54 2.7 Government Bond JPY 3,000,000 $54,231 $54,231 1954-03-20 1.7 0.4900 28.7900
JGB 0.6 12/20/46 Govt JAPAN (30 YEAR ISSUE) 0.600 20 DEC 46 2.6 Government Bond JPY 3,800,000 $51,963 $51,963 1946-12-20 0.6 0.5100 23.2800
JGB 0.4 12/20/49 Govt JAPAN (30 YEAR ISSUE) 0.400 20 DEC 49 2.6 Government Bond JPY 4,000,000 $51,432 $51,432 1949-12-20 0.4 0.5600 25.2700
BTPS 4.75 09/01/44 Govt BUONI POLIENNALI DEL TES EURO 4.750 01 SEP 44 2.4 Government Bond EUR 20,000 $48,896 $48,896 1944-09-01 4.75 2.0800 15.9800
JGB 1.7 06/20/44 Govt JAPAN (30 YEAR ISSUE) 1.700 20 JUN 44 2.4 Government Bond JPY 2,800,000 $47,975 $47,975 1944-06-20 1.7 0.4200 21.7400
DBR 2.5 07/04/44 Govt BUNDESREPUB. DEUTSCHLAND EURO 2.500 04 JUL 44 2.3 Government Bond EUR 17,000 $45,284 $45,284 1944-07-04 2.5 -0.1400 19.7500
BTPS 2.7 03/01/47 Govt BUONI POLIENNALI DEL TES EURO 2.700 01 MAR 47 2.1 Government Bond EUR 23,000 $41,817 $41,817 1947-03-01 2.7 2.1100 19.0700
T 3 05/15/42 Govt US TREASURY N/B 3.000 15 MAY 42 1.9 Government Bond USD 20,000 $38,926 $38,926 1942-05-15 3.0 1.1600 16.9400
JGB 2.2 03/20/49 Govt JAPAN (40 YEAR ISSUE) 2.200 20 MAR 49 1.9 Government Bond Japan JPY 2,000,000 $38,597 $38,597 1949-03-20 2.2 0.4600 25.2100
BTPS 2.45 09/01/50 Govt BUONI POLIENNALI DEL TES EURO 2.450 01 SEP 50 1.9 Government Bond EUR 22,000 $37,869 $37,869 1950-09-01 2.45 2.1800 21.1300
JGB 0.7 06/20/48 Govt JAPAN (30 YEAR ISSUE) 0.700 20 JUN 48 1.9 Government Bond JPY 2,700,000 $37,703 $37,703 1948-06-20 0.7 0.5300 24.3400
UKT 1.625 10/22/54 Govt UK TSY 1 5/8% 2054 1.625 22 OCT 54 1.8 Government Bond GBP 15,500 $36,903 $36,903 1954-10-22 1.625 0.6100 27.4400
FRTR 2 05/25/48 Govt FRANCE (GOVT OF) EURO 2.000 25 MAY 48 1.8 Government Bond EUR 16,000 $36,332 $36,332 1948-05-25 2.0 0.4700 22.6000
UKT 1.625 10/22/71 Govt UK TSY 1 5/8% 2071 1.625 22 OCT 71 1.8 Government Bond GBP 13,000 $35,895 $35,895 1971-10-22 1.625 0.4700 38.2800
FRTR 0.75 05/25/52 Govt FRANCE (GOVT OF) EURO 0.750 25 MAY 52 1.7 Government Bond EUR 20,000 $34,176 $34,176 1952-05-25 0.75 0.5700 28.3800
JGB 0.5 03/20/59 Govt JAPAN (40 YEAR ISSUE) 0.500 20 MAR 59 1.6 Government Bond JPY 2,500,000 $32,622 $32,622 1959-03-20 0.5 0.5800 31.5200
T 1.25 05/15/50 Govt US TREASURY N/B 1.250 15 MAY 50 1.6 Government Bond United States USD 23,000 $32,520 $32,520 1950-05-15 1.25 1.3100 24.7400
DBR 3.25 07/04/42 Govt BUNDESREPUB. DEUTSCHLAND EURO 3.250 04 JUL 42 1.4 Government Bond EUR 10,000 $28,689 $28,689 1942-07-04 3.25 -0.1800 17.7000
USD USD - UNITED STATES DOLLAR 1.2 Cash USD 16,062 $23,070 $23,070
CAN 2 12/01/51 Govt CANADIAN GOVERNMENT 2.000 01 DEC 51 1.1 Government Bond CAD 17,000 $22,412 $22,412 1951-12-01 2.0 1.0700 24.2500
T 4.75 02/15/41 Govt US TREASURY N/B 4.750 15 FEB 41 1.1 Government Bond USD 9,000 $21,752 $21,752 1941-02-15 4.75 1.0600 14.9100
UKT 2.5 07/22/65 Govt UK TSY 2 1/2% 2065 2.500 22 JUL 65 1.0 Government Bond Britain GBP 6,000 $19,330 $19,330 1965-07-22 2.5 0.5500 31.7400
CAN 3.5 12/01/45 Govt CANADIAN GOVERNMENT 3.500 01 DEC 45 0.9 Government Bond CAD 11,000 $17,957 $17,957 1945-12-01 3.5 1.0500 18.6800
JGB 1.4 09/20/45 Govt JAPAN (30 YEAR ISSUE) 1.400 20 SEP 45 0.8 Government Bond JPY 1,000,000 $16,287 $16,287 1945-09-20 1.4 0.4500 22.5600
JGB 0.5 03/20/60 Govt JAPAN (40 YEAR ISSUE) 0.500 20 MAR 60 0.7 Government Bond Japan JPY 1,000,000 $13,046 $13,046 1960-03-20 0.5 0.5800 32.1900
T 2.375 11/15/49 Govt US TREASURY N/B 2.375 15 NOV 49 0.5 Government Bond United States USD 5,000 $9,067 $9,067 1949-11-15 2.375 1.3000 22.1000
JGB 1.8 09/20/43 Govt JAPAN (30 YEAR ISSUE) 1.800 20 SEP 43 0.4 Government Bond JPY 500,000 $8,681 $8,681 1943-09-20 1.8 0.4000 21.1100
FRTR 1.5 05/25/50 Govt FRANCE (GOVT OF) EURO 1.500 25 MAY 50 0.4 Euro Bond EUR 4,000 $8,247 $8,247 1950-05-25 1.5 0.5200 24.8700
EUR EUR - EURO 0.4 Cash EUR 4,806 $7,794 $7,794
GBP GBP - BRITISH POUND 0.0 Cash GBP 370 $670 $670
CAD CAD - CANADA DOLLAR 0.0 Cash CAD 350 $370 $370
AUD AUD - AUSTRALIA DOLLAR FX Forwards AUD 1,504,548
CAD CAD - CANADA DOLLAR FX Forwards CAD -38,116
EUR EUR - EURO FX Forwards EUR -310,023
GBP GBP - BRITISH POUND FX Forwards GBP -232,683
USD USD - UNITED STATES DOLLAR FX Forwards USD -374,336
JPY JPY - JAPANESE YEN -22.3 Cash JPY -33,211,875 -$445,032 -$445,032
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* As at 9 July 2020

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month -0.07% 0.04%
3 months - 1.55%
6 months - 11.59%
1 year - 14.79%
3 year p.a - 10.81%
5 year p.a - 10.37%
Since inception (p.a) -0.30% -0.22%
Inception date 7-May-20 -
* 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 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)
1-Jul-20 2-Jul-20 16-Jul-20 $0.52878 -
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