- Cash & Fixed income
Australian Enhanced Credit Income Complex ETF
Overview
Fund objective
ECRD aims to provide investors with a high level of income through exposure to a portfolio of investment grade, Australian fixed income securities, with yields enhanced through the use of gearing.
Fund strategy
ECRD invests in a portfolio of high-quality floating rate subordinated bonds issued by the ‘big 4’ Australian banks (via Betashares Australian Major Bank Subordinated Debt ETF - ASX: BSUB) and Australian investment grade corporate bonds (via Betashares Interest Rate Hedged Australian Investment Grade Corporate Bond ETF - ASX: HCRD). ECRD invests using a combination of investors’ money and funds borrowed at institutional rates to enhance income potential, with all gearing managed within the fund and no risk of investor margin calls.
ECRD does not aim to track an index.
The gearing ratio of between 66.7% and 71.4% means that the Fund’s geared exposure is anticipated to vary between ~300% and 350% of the Fund’s Net Asset Value on a given day. The Fund’s portfolio exposure is actively monitored and adjusted to stay within this range.
The Fund’s returns will not necessarily be in this range over periods longer than a day, primarily due to the effects of rebalancing to maintain the Fund’s daily target geared exposure range and the compounding of investment returns over time, and the impact of fees and costs.
The Fund’s returns over periods longer than one day may differ in amount and possibly direction from the daily target geared return range. This effect on returns over time can be expected to be more pronounced the more volatile the Fund’s underlying exposure and the longer an investor’s holding period.
Investors should monitor their investment regularly to ensure it continues to meet their investment objectives.
Gearing magnifies gains and losses and may not be a suitable strategy for all investors. Investors in geared strategies should be willing to accept higher levels of investment volatility and potentially large moves (both up and down) in the value of their investment. Geared investments involve significantly higher risk than non-geared investments.
Benefits
A high-yielding income solution, paying monthly
ECRD aims to deliver monthly income above what is typically available from traditional bond funds, hybrids and shares, with a volatility profile similar to hybrids.
High quality and a hedge against interest rate risk
ECRD provides exposure to a diversified portfolio of investment grade Australian bonds. The portfolio combines floating rate bonds issued by the Big 4 banks and interest rate-hedged corporate bonds, guarding against interest rate risk.
Enhance income-generating potential
ECRD boosts investors’ income potential by increasing exposure to the underlying fixed income securities and earning a net interest margin – achieved through internal gearing at institutional borrowing rates.
There are risks associated with investment in ECRD, including market risk, gearing risk, credit risk, interest rate hedging risk and subordinated bond risk. Investment value can go up and down. An investment in the Fund should only be considered as a part of a broader portfolio, taking into account your particular circumstances, including your tolerance for risk. For more information on risks and other features of the Fund, please see the Product Disclosure Statement and Target Market Determination, both available on this website.
Invest in ECRD with Betashares Direct
Key facts
Profile
| Units outstanding* (#) | 1,360,284 |
|---|---|
| Management fee and cost** (p.a.) | 0.29% |
| Investment manager | Betashares Capital Ltd |
| Distribution frequency | Monthly |
| Distribution reinvestment plan (DRP) | Full or partial participation available |
| Registry | MUFG Corporate Markets |
| Domicile | Australia |
* As at 27 January 2026
**Costs expressed as a percentage of Gross Asset Value of the Fund. Certain additional costs apply. Please refer to PDS.
Pricing information
| Current price | |
|---|---|
| Last trade* | |
| % Change (prev day) | |
| Bid (delayed) | |
| Offer (delayed) | |
| * Data is delayed by at least 20 minutes. | |
| NAV | |
|---|---|
| NAV/Unit* | $25.41 |
| * As at 27 January 2026 | |
Past performance is not indicative of future performance. Please refer to "Fund returns after fees" for additional information regarding performance/return information.
Trading information
| ASX code | ECRD |
|---|---|
| Bloomberg code | ECRD AU |
| IRESS code | ECRD.AXW |
| Market makers | Nine Mile Financial Pty Ltd |
Performance
Fund returns after fees (%)
| Fund | ||
|---|---|---|
| 1 month | 1.06% | - |
| 3 months | - | - |
| 6 months | - | - |
| 1 year | - | - |
| 3 year p.a. | - | - |
| 5 year p.a. | - | - |
| 10 year p.a. | - | - |
| Since inception | 0.93% | - |
| Inception date | 20-Nov-25 | - |
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.
Portfolio characteristics
| Running yield (% p.a.) | 7.48 |
|---|---|
| Estimated yield to worst (% p.a.) | 7.94 |
| Effective modified duration (yrs) | 0.33 |
| Effective spread duration (yrs) | 13.39 |
| Average time to call/maturity (yrs) | 5.13 |
| Average credit rating | A- |
* As at 29 January 2026
Sector allocation
| Banks | 51.9% |
|---|---|
| Utilities | 12.8% |
| Industrials | 13.1% |
| Consumer Discretionary | 1.8% |
| Real Estate | 13.2% |
| Energy | 1.7% |
| Consumer Staples | 1.7% |
| Materials | 1.2% |
| Financial Services | 1.2% |
| Other | 1.4% |
* As of 31 December 2025
Gearing
| Daily LVR range | 66.7-71.4% |
|---|---|
| Current LVR* | 69.1% |
| Current gearing multiple** (x) | 3.23 |
* As at the start of 29 January 2026. Expected to vary throughout the day and on each day. Calculated as the total amount borrowed expressed as a percentage of the total assets of the Fund (inclusive of borrowed amount).
**Represents the Fund’s approximate exposure, for the above date, to movements in the value of underlying investment portfolio held by the Fund. For example, if the Fund’s gearing multiple is 3x and the underlying investment portfolio goes up 1% (in Australian dollars) that day, the Fund would be expected to go up approximately 3% that day (and vice versa), before fees and expenses. The Fund is actively managed, and the gearing multiple will change on a daily basis, affecting returns over time.
Recent distributions
| Ex Date | Record Date | Payment Date | Distribution Unit ($) | Annual Distribution Return (%) (1) |
|---|---|---|---|---|
| 2-Jan-26 | 5-Jan-26 | 19-Jan-26 | $0.1875 | - |
Announcements
ASX Announcements: ECRD
Payment notice information
NRWT & fund payments
| Document | Date |
|---|---|
| 2025-12 |