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

    • SUBD
    VanEck Australian Subordinated Debt ETF

    SUBD
    VanEck Australian Subordinated Debt ETF

    • NAV
      $25.19

      as at 20-Aug-26
    • Total Net Assets
      $3.82B
    • Dividend Frequency
      Monthly
    • Management fee (p.a.)
      0.29%
    • Number of securities
      36
    • Inception Date
      28-Oct-19
    SUBD

    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.

    Why consider SUBD?

    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.

    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 21-Aug-26 Download all holdings

    No. of holdings: 36
    Security name
    Coupon
    Maturity
    Composite
    rating^
    Country†
    Currency
    % of Fund
    net assets
    Westpac Banking Corp 6.769 23-Jun-33 A- Australia AUD 5.95
    Australia & New Zealand Banking Group L 5.181 16-Jan-34 A- Australia AUD 5.41
    Australia & New Zealand Banking Group L 5.397 15-Jan-35 A- Australia AUD 4.61
    National Australia Bank Ltd 6.455 09-Feb-34 A- Australia AUD 4.26
    Commonwealth Bank Of Australia 6.174 12-Sep-35 A- Australia AUD 4.23
    Commonwealth Bank Of Australia 7.205 09-Nov-32 A- Australia AUD 4.19
    National Australia Bank Ltd 5.809 14-Nov-35 A- Australia AUD 4.17
    Westpac Banking Corp 6.129 10-Jul-34 A- Australia AUD 3.88
    Commonwealth Bank Of Australia 5.500 05-Mar-36 A- Australia AUD 3.67
    Hsbc Holdings Plc 5.500 11-Mar-35 BBB+ United Kingdom AUD 3.63
    Australia & New Zealand Banking Group L 6.857 16-May-33 A- Australia AUD 3.41
    Westpac Banking Corp 5.786 20-Aug-36 A- Australia AUD 3.40
    Macquarie Bank Ltd 5.777 20-Aug-36 BBB+ Australia AUD 3.37
    Macquarie Bank Ltd 5.500 20-Feb-35 BBB+ Australia AUD 3.35
    Westpac Banking Corp 6.025 12-Feb-35 A- Australia AUD 3.32
    Australia & New Zealand Banking Group L 6.101 21-Aug-41 NR Australia AUD 2.88
    Australia & New Zealand Banking Group L 5.500 23-Feb-37 A- Australia AUD 2.88
    Commonwealth Bank Of Australia 6.593 25-Oct-33 A- Australia AUD 2.71
    Commonwealth Bank Of Australia 5.350 14-Apr-32 A- Australia AUD 2.63
    Hsbc Holdings Plc 6.767 21-Mar-34 BBB+ United Kingdom AUD 2.55
    Westpac Banking Corp 6.338 03-Apr-34 A- Australia AUD 2.50
    Macquarie Bank Ltd 6.413 01-Mar-34 BBB+ Australia AUD 2.49
    Bnp Paribas Sa 6.591 23-Aug-34 BBB France AUD 2.46
    National Australia Bank Ltd 6.529 18-Nov-31 A- Australia AUD 2.40
    Bnp Paribas Sa 6.469 03-Dec-36 BBB France AUD 2.29
    Suncorp Group Ltd 6.815 27-Jun-34 BBB+ Australia AUD 2.26
    Lloyds Banking Group Plc 6.631 29-Aug-34 BBB+ United Kingdom AUD 2.08
    VanEck Cash Plus Active ETF -- 01-Jan-99 -- Australia AUD 1.97
    Barclays Plc 5.500 28-May-35 BBB United Kingdom AUD 1.91
    Macquarie Bank Ltd 5.500 29-Nov-35 BBB+ Australia AUD 1.91
    Insurance Australia Group Ltd 6.147 15-Jun-37 A- Australia AUD 1.80
    Bank Of Queensland Ltd 6.050 09-Jul-36 BBB Australia AUD 1.34
    National Australia Bank Ltd 7.295 03-Aug-32 A- Australia AUD 0.03
    Macquarie Bank Ltd 7.184 07-Jun-32 BBB+ Australia AUD 0.02
    Australia & New Zealand Banking Group L 7.205 12-Aug-32 A- Australia AUD 0.01
    National Australia Bank Ltd 5.500 09-Mar-33 A- Australia AUD 0.00
    Other/Cash -- -- -- -- AUD 0.01
    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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