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FSUBAU VanEck Australian Fixed Rate Subordinated Debt ETF Please read important information Close important disclosure false

    • FSUB
    VanEck Australian Fixed Rate Subordinated Debt ETF

    FSUB
    VanEck Australian Fixed Rate Subordinated Debt ETF

    • NAV
      $24.78

      as at 31-Aug-26
    • Total Net Assets
      $95.25M
    • Dividend Frequency
      Monthly
    • Management fee (p.a.)
      0.29%
    • Number of securities
      49
    • Inception Date
      10-Dec-25
    FSUB

    Overview

    Fund description

    FSUB invests in a portfolio of fixed rate subordinated bonds with the aim of providing investment returns before fees and other costs that track the performance of the Index.

    Why consider FSUB?

    Investment grade subordinated bonds

    This Australian first provides investors access to a portfolio of investment grade credit quality fixed rate subordinated bonds issued by leading banks and financial institutions. These securities sit within the regulated capital structure and qualify as Tier 2 Capital.

    Diversification and defensive characteristics

    Fixed rate subordinated bonds can provide valuable diversification benefits and defensive qualities.

    Attractive yield premium

    Subordinated bonds generally provide a yield premium relative to senior debt, commensurate with risk.

    Who is TICKER suitable for?

      is likely to be appropriate for a consumer who is seeking capital preservation and a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a medium risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 7 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a satellite allocation within a portfolio, has an investment timeframe of at least 7 years, and has an extremely high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high to very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a major, core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital preservation and a regular income distribution, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a medium risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 7 years, and has an extremely high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a minor or satellite allocation within a portfolio, has no investment timeframe, and has a high or very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking regular income distribution, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a medium risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth, is intending to use the product as a satellite allocation within a portfolio, has no minimum investment timeframe, and has an extremely high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking a regular income distribution, is intending to use the product as a minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a medium risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital preservation and a regular income distribution, is intending to use the product as a standalone solution, major, core, minor or satellite allocation within a portfolio, has no investment timeframe and has a low risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a standalone solution or major, core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 3 years, and has a medium risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a standalone solution or major, core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a standalone solution or major, core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high to very high risk/return profile.
      is likely to be appropriate for a consumer who is seeking capital growth and a regular income distribution, is intending to use the product as a core, minor or satellite allocation within a portfolio, has an investment timeframe of at least 5 years, and has a high risk/return profile.

    Performance

    Holdings & allocations

    All holdings (%) as at 31-Aug-26 Download all holdings

    No. of holdings: 49
    Security name
    		 Coupon
    Maturity
    Composite
    rating^
    Country†
    Currency
    		 % of Fund
    net assets
    Commonwealth Bank Of Australia 6.704 15-Mar-38 A- Australia AUD 4.67
    Australia & New Zealand Banking Group L 6.124 25-Jul-39 A- Australia AUD 4.61
    Commonwealth Bank Of Australia 6.152 27-Nov-39 A- Australia AUD 3.89
    Westpac Banking Corp 7.199 15-Nov-38 A- Australia AUD 3.84
    Westpac Banking Corp 6.085 12-Feb-41 A- Australia AUD 3.68
    National Australia Bank Ltd 5.774 30-Jul-40 A- Australia AUD 3.61
    Westpac Banking Corp 5.815 04-Jun-40 A- Australia AUD 3.58
    National Australia Bank Ltd 6.342 06-Jun-39 A- Australia AUD 3.50
    Australia & New Zealand Banking Group L 6.736 10-Feb-38 A- Australia AUD 3.43
    Australia & New Zealand Banking Group L 5.906 12-Aug-32 A- Australia AUD 3.31
    Westpac Banking Corp 6.934 23-Jun-38 A- Australia AUD 3.20
    Commonwealth Bank Of Australia 6.860 09-Nov-32 A- Australia AUD 2.58
    National Australia Bank Ltd 6.322 03-Aug-32 A- Australia AUD 2.58
    Hsbc Holdings Plc 6.211 21-Mar-34 BBB+ United Kingdom AUD 2.54
    National Australia Bank Ltd 6.558 12-May-41 A- Australia AUD 2.47
    Credit Agricole Sa 6.447 13-Feb-41 BBB+ France AUD 2.47
    Australia & New Zealand Banking Group L 5.691 14-Aug-40 A- Australia AUD 2.37
    National Australia Bank Ltd 6.163 09-Mar-33 A- Australia AUD 2.10
    Australia & New Zealand Banking Group L 5.888 16-Jan-34 A- Australia AUD 2.08
    Lloyds Banking Group Plc 7.086 31-Aug-33 BBB+ United Kingdom AUD 1.91
    Australia & New Zealand Banking Group L 6.405 20-Sep-34 A- Australia AUD 1.86
    National Australia Bank Ltd 5.740 09-Feb-34 A- Australia AUD 1.76
    National Australia Bank Ltd 5.082 14-Nov-35 A- Australia AUD 1.63
    Commonwealth Bank Of Australia 6.446 25-Oct-33 A- Australia AUD 1.49
    Macquarie Bank Ltd 5.953 01-Mar-34 BBB+ Australia AUD 1.49
    Macquarie Bank Ltd 5.603 20-Feb-35 BBB+ Australia AUD 1.42
    Commonwealth Bank Of Australia 4.946 14-Apr-32 A- Australia AUD 1.41
    Westpac Banking Corp 5.972 10-Jul-34 A- Australia AUD 1.38
    Hsbc Holdings Plc 5.722 11-Mar-35 BBB+ United Kingdom AUD 1.33
    Macquarie Bank Ltd 5.757 20-Aug-36 BBB+ Australia AUD 1.31
    Westpac Banking Corp 5.754 03-Apr-34 A- Australia AUD 1.29
    Macquarie Bank Ltd 6.082 07-Jun-32 BBB+ Australia AUD 1.28
    Barclays Plc 6.158 28-May-35 BBB United Kingdom AUD 1.28
    Australia & New Zealand Banking Group L 5.545 15-Jan-35 A- Australia AUD 1.21
    Bpce Sa 6.562 12-Jun-40 BBB France AUD 1.19
    Macquarie Bank Ltd 6.146 29-May-40 BBB+ Australia AUD 1.17
    Bpce Sa 7.156 27-May-41 BBB France AUD 1.16
    Bnp Paribas Sa 5.830 23-Aug-34 BBB France AUD 1.15
    Challenger Life Co Ltd 7.186 16-Sep-37 BBB+ Australia AUD 1.13
    Westpac Banking Corp 6.491 23-Jun-33 A- Australia AUD 1.08
    Westpac Banking Corp 5.351 12-Feb-35 A- Australia AUD 1.04
    Bnp Paribas Sa 6.198 03-Dec-36 BBB France AUD 0.91
    Shinhan Bank Co Ltd 5.000 30-Aug-28 BBB+ South Korea AUD 0.89
    Commonwealth Bank Of Australia 5.252 12-Sep-35 A- Australia AUD 0.88
    Qbe Insurance Group Ltd 6.303 11-Sep-39 BBB+ Australia AUD 0.87
    Qbe Insurance Group Ltd 5.802 21-May-36 BBB+ Australia AUD 0.75
    Commonwealth Bank Of Australia 5.632 05-Mar-36 A- Australia AUD 0.71
    Cooperatieve Rabobank Ua 7.074 26-Oct-32 BBB+ Netherlands AUD 0.71
    Banco Santander Sa 6.444 17-Jul-34 BBB Spain AUD 0.63
    Other/Cash -- -- -- -- AUD 3.20
    Total 100.00

    Source: Bloomberg. These are not recommendations to buy or to sell any security.

    ^Composite rating is an evenly weighted blend of a bond’s Moody’s, S&P and Fitch credit ratings when there are two or more. ‘NR’ means the bond has one ‘Investment Grade’ rating. The above ratings are not a credit opinion by VanEck on any bond or the Fund or a recommendation to buy any individual security.

    † – country of risk

    Dividends

    Election of Dividend Reinvestment Plan (DRP)

    You can elect DRP by logging into MUFG’s Investor Centre. Once you are logged in, please proceed to the “Payments and Tax” tab and select “Reinvestment Plans”.

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