• Ticker:- FLOT;false;MVPLUS;
  • Ticker Group:- ETFEQ_INTL;false;;

VanEck Blog & Insights

VanEck Vectors Australian Floating Rate ETF FLOT

  • Fund description: FLOT invests in a diversified portfolio of Australian dollar denominated Floating Rate Bonds with the aim of providing investment returns (before fees and costs) that closely track the returns of the Index.

    Index description:  The Bloomberg AusBond Credit FRN 0+ Yr Index (BAFRN0) is a market value weighted index comprising floating rate bonds that are of investment grade quality. The index typically includes bonds issued by corporate entities such as the four largest banks in Australia, foreign banks, other lending institutions and Australian listed property trusts (A-REITs).

  •  as at 21-Sep-18

    • Exchange

      ASX
    • ASX code

      FLOT
    • Bloomberg index code

      BAFRN0
    • Index provider

      Bloomberg
    • NAV

      $25.06
    • Units outstanding

      5,440,568
    • Net assets

      $136.3M
    • Number of holdings

      174
    • Inception date1

      05-Jul-17
    • ASX commencement

      07-Jul-17

    1The date the Fund was seeded prior to quotation on ASX.

  •  as at 21-Sep-18

  • Key points

    • Potential to protect against rising rates
      Floating rate notes (FRNs) pay coupons (interest) that vary with short-term interest rates.
      Interest rates are reset periodically resulting in reduced duration (interest rate) risk.
    • Attractive yield relative to cash and term deposits
    • Short-term high quality credit
      Only FRNs with investment grade credit rating are included in the index
  • Yields as at 20-Sep-18

    • Running yield

      2.94%
    • Yield to maturity

      2.75%
  • Fundamentals  as at 20-Sep-18

    • Average credit rating

      --
    • Average maturity (years)

      2.26
    • Modified duration (years)

      0.13
  • Trading information

    • ASX code

      FLOT
    • IRESS code

      FLOT.AXW
    • Units outstanding

      5,440,568
    • ISIN

      AU00000FLOT5
  • Fees and other costs

    • Management costs p.a.

      0.22%
  • Prices as at  21-Sep-18

    NAV/
    Last trade
    Volume:
    30-day avg/
    Previous day
    Daily change: NAV/
    Last trade
    YTD change:
    NAV/
    Last trade
    Premium/
    Discount
    Premium/
    Discount
    Distribution charts
    NAV &
    Premium /Discount
    History
    NAV
    Chart
    FLOT $25.06
    $25.07
    43,819
    43,677
    $0.00 / +0.01%
    $-0.03 / -0.12%
    +3.91%
    +3.97%
    $0.01
    +0.06%
  • View all indices » View all ETFs » Performance history (%)

    1 Mth3 Mths6 Mths1 Yr3 Yrs p.a.5 Yrs p.a.10 Yrs p.a.Inception p.a.
    Price return0.020.120.12-0.46------0.11
    Income return0.240.580.992.86------2.48
    Total return0.260.701.112.40------2.59
    Index (BAFRN0)0.280.751.202.552.963.224.362.72
    1 Mth3 Mths6 Mths1 Yr3 Yrs p.a.5 Yrs p.a.10 Yrs p.a.Inception p.a.
    Price return0.000.01-0.02--------0.00
    Income return0.160.520.98--------2.45
    Total return0.160.530.96--------2.45
    Index (BAFRN0)0.170.601.042.592.943.254.402.56
  • View all daily holdings »Top ten holdings (%) as at 31-Aug-18

    No. of holdings: 165
    Security name
    Coupon
    Maturity
    Composite
    rating^
    Country
    Currency
    % of Fund
    net assets
    WESTPAC BANKING CORP
    2.705
    31-Aug-22
    AAA
    Australia
    AUD
    3.42
    NATIONAL AUSTRALIA BANK LTD
    3.035
    21-Oct-21
    AA-
    Australia
    AUD
    3.00
    AUSTRALIA & NEW ZEALAND BANKING GROUP L
    3.085
    16-Aug-21
    AA-
    Australia
    AUD
    2.88
    NATIONAL AUSTRALIA BANK LTD
    2.774
    27-Nov-19
    AA-
    Australia
    AUD
    2.16
    WESTPAC BANKING CORP
    3.118
    03-Jun-21
    AA-
    Australia
    AUD
    2.15
    WESTPAC BANKING CORP
    2.885
    22-Jan-20
    AA-
    Australia
    AUD
    2.04
    COMMONWEALTH BANK OF AUSTRALIA
    2.850
    18-Oct-19
    AA-
    Australia
    AUD
    1.88
    NATIONAL AUSTRALIA BANK LTD
    2.805
    20-May-19
    AA-
    Australia
    AUD
    1.83
    TORONTO-DOMINION BANK/THE
    3.515
    22-Dec-20
    AA-
    Canada
    AUD
    1.78
    COMMONWEALTH BANK OF AUSTRALIA
    2.800
    17-Nov-21
    AAA
    Australia
    AUD
    1.72
    Top 10 Total (%)22.86

    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

  • Country weightings (%) as at 31-Aug-18

    • Country

      Weightings (%)
    • AUSTRALIA

      67.0
    • CANADA

      6.6
    • JAPAN

      4.6
    • NETHERLANDS

      3.2
    • UNITED STATES

      3.1
    • SWITZERLAND

      3.0
    • CHINA

      2.9
    • SINGAPORE

      2.5
    • SOUTH KOREA

      2.0
    • SWEDEN

      1.6
    • Other/Cash

      3.5
    • Total

      100.0
  • Sector weightings (%) as at 31-Aug-18

    • Sector

      Weightings (%)
    • Banks

      95.1
    • Electric

      0.9
    • Multi-National

      0.8
    • Sovereign

      0.7
    • Telecommunications

      0.6
    • Computers

      0.5
    • Beverages

      0.4
    • Oil&Gas

      0.3
    • Auto Manufacturers

      0.2
    • Other/Cash

      0.5
    • Total

      100.0
  • Credit quality (%) as at 31-Aug-18

    Composite Contribution to
    duration
    % of Net
    Assets
    Investment GradeAAA0.019.27
    AA0.0864.48
    A0.0320.26
    BBB0.015.66
    Total Investment Grade--0.1399.68
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P and Fitch ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies.
  • Maturity (%) as at 31-Aug-18

    Average Portfolio Maturity: 2.19 Years