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SUBDAU VanEck Australian Subordinated Debt ETF Please read important disclosure Close important disclosure false

    • SUBD
    VanEck Australian Subordinated Debt ETF

    SUBD
    VanEck Australian Subordinated Debt ETF

    • NAV
      $25.29

      as at 17-Feb-26
    • Total Net Assets
      $3.45B
    • Dividend Frequency
      Monthly
    • Management fee (p.a.)
      0.29%
    • Number of securities
      37
    • Inception Date
      28-Oct-19
    SUBD - VanEck Subordinated Debt ETF Tile.webp

    Overview

    Fund Description

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

    Key benefits

    The first and biggest subordinated bond ETF

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

    Potential resilience in a rising rate environment

    Floating rate subordinated bonds pay coupons (interest) that vary with short-term interest rates. As rates reset periodically, these securities typically exhibit lower duration and reduced sensitivity to rising interest rates.

    Attractive yield premium

    Subordinated bonds generally provide a yield premium relative to senior debt, commensurate with risk.
      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 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 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 or major, core, minor or satellite allocation within a portfolio, has no minimum investment timeframe, and has a low risk/return profile.

    Performance

    Holdings & allocations

    All holdings (%) as at 17-Feb-26 Download all holdings

    No. of holdings: 37
    Security name
    		 Coupon
    Maturity
    Composite
    rating^
    Country†
    Currency
    		 % of Fund
    net assets
    Australia & New Zealand Banking Group L 5.677 16-Jan-34 A- Australia AUD 5.88
    National Australia Bank Ltd 4.950 14-Nov-35 A- Australia AUD 5.03
    Commonwealth Bank Of Australia 4.961 20-Aug-31 A- Australia AUD 4.96
    Australia & New Zealand Banking Group L 5.245 15-Jan-35 A- Australia AUD 4.94
    Commonwealth Bank Of Australia 5.415 12-Sep-35 A- Australia AUD 4.80
    Westpac Banking Corp 5.407 10-Jul-34 A- Australia AUD 4.53
    Westpac Banking Corp 6.029 23-Jun-33 A- Australia AUD 4.48
    Hsbc Holdings Plc 5.583 11-Mar-35 BBB+ United Kingdom AUD 3.85
    National Australia Bank Ltd 5.890 09-Feb-34 A- Australia AUD 3.72
    Australia & New Zealand Banking Group L 6.003 16-May-33 A- Australia AUD 3.55
    Commonwealth Bank Of Australia 5.642 14-Apr-32 A- Australia AUD 3.54
    Commonwealth Bank Of Australia 6.640 09-Nov-32 A- Australia AUD 3.53
    Westpac Banking Corp 5.167 12-Feb-35 A- Australia AUD 3.51
    Macquarie Bank Ltd 5.491 20-Feb-35 BBB+ Australia AUD 3.42
    Macquarie Bank Ltd 5.619 01-Mar-34 BBB+ Australia AUD 3.14
    Macquarie Bank Ltd -- 20-Aug-36 NR Australia AUD 2.97
    Westpac Banking Corp 5.621 03-Apr-34 A- Australia AUD 2.91
    National Australia Bank Ltd 5.673 18-Nov-31 A- Australia AUD 2.87
    Bnp Paribas Sa 5.803 23-Aug-34 BBB France AUD 2.62
    Hsbc Holdings Plc 6.028 21-Mar-34 BBB+ United Kingdom AUD 2.56
    Commonwealth Bank Of Australia 5.822 25-Oct-33 A- Australia AUD 2.55
    Suncorp Group Ltd 6.080 27-Jun-34 BBB+ Australia AUD 2.17
    Australia & New Zealand Banking Group L -- 23-Feb-37 NR Australia AUD 2.10
    Bnp Paribas Sa 5.673 03-Dec-36 BBB France AUD 2.03
    Barclays Plc 5.663 28-May-35 BBB United Kingdom AUD 1.98
    VanEck Cash Plus Active ETF -- -- -- United States AUD 1.89
    Insurance Australia Group Ltd 5.395 15-Jun-37 A- Australia AUD 1.79
    Macquarie Bank Ltd 5.278 17-Jun-31 BBB+ Australia AUD 1.76
    Macquarie Bank Ltd 5.513 29-Nov-35 BBB+ Australia AUD 1.74
    Lloyds Banking Group Plc 5.843 29-Aug-34 BBB+ United Kingdom AUD 1.54
    Qbe Insurance Group Ltd 6.400 25-Aug-36 BBB Australia AUD 1.49
    National Australia Bank Ltd 5.871 09-Mar-33 A- Australia AUD 0.96
    Qbe Insurance Group Ltd 6.322 26-Oct-38 BBB Australia AUD 0.44
    Macquarie Bank Ltd 6.391 07-Jun-32 BBB+ Australia AUD 0.40
    National Australia Bank Ltd 6.650 03-Aug-32 A- Australia AUD 0.20
    Qbe Insurance Group Ltd 5.663 11-Jun-35 BBB+ Australia AUD 0.15
    Australia & New Zealand Banking Group L 6.347 12-Aug-32 A- Australia AUD 0.01
    Other/Cash -- -- -- -- AUD 0.00
    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 Update”.

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