Key highlights

  • ASX:EX20 gives exposure to approximately 180 of Australia’s largest securities after excluding the 20 largest by free float-adjusted market capitalisation.
  • The fund holds 179 companies, and the top ten make up only 22.07%.
  • The fund has about $665.43 million in assets and a 0.25% management fee.

The Betashares Australian Ex-20 Portfolio Diversifier ETF (ASX:EX20) offers exposure to Australian companies outside the 20 largest on the ASX. The index is designed to provide exposure to approximately 180 of the largest Australian securities after excluding the 20 largest, and the fund adopts a full replication strategy.

About the Fund

EX20 was admitted to the ASX on 7 October 2016 and is classified in the Equity Australia Large Blend category, with the Solactive Australia ex 20 Total Return Index as its benchmark. The fund has about $665.43 million in assets, and the management fee is 0.25%. Betashares is based in Sydney.

Country exposure

The largest country allocation is Australia at 88.76%, followed by the United States at 7.44%. The remaining exposure is spread across New Zealand (1.52%), the United Kingdom (1.48%), Canada (0.47%) and China (0.33%).

Stocks make up all of the portfolio. Of it, 92.35% is in companies valued above $1 billion, 6.98% in companies between $500 million and $1 billion and 0.66% in smaller companies.

Portfolio holdings

The portfolio holds 179 companies, with top ten holdings making up 22.07% of the fund. The largest positions are Northern Star Resources Ltd (3.26%), Evolution Mining Ltd (3.03%), South32 Ltd (2.33%), Computershare Ltd (2.08%) and Suncorp Group Ltd (2.01%).

The top ten also include Origin Energy, ResMed (through CHESS Depositary Interests), Scentre Group, Insurance Australia Group and PLS Group. The largest holding is 3.26% of the fund, so exposure is spread widely.

Understanding the exposure

The five largest positions add up to 12.71% of the fund, which shows how much of the exposure rests on a small number of names. The remaining 169 holdings share the other 77.93% of the portfolio, an average of about 0.46% each. Exposure is spread across 6 countries or regions, and the three largest allocations (Australia, the United States and New Zealand) together account for 97.72% of the portfolio.

Fees, size and distributions

The fund pays distributions half-yearly. The most recent was a final distribution of $0.353 per unit, with an ex-date of 1 July 2026 and payment on 16 July 2026, and the reported annual yield is 2.84%.

Fund structure and reporting

EX20 has an ISIN of AU00000EX202 and a head office at Level 46, 180 George Street, Sydney. Recent ASX announcements from the fund include a units-on-issue disclosure for September 2026, the annual report, an updated Product Disclosure Statement on 18 September 2026 and a supplementary one in August.

Equity Australia Large Blend funds invest primarily in large Australian companies, defined as stocks in the top 70% of the capitalisation of the Australian equities market, and the blend style applies where neither growth nor value characteristics dominate.

Units in EX20 are quoted on the ASX and can be bought and sold through a broker during trading hours, in the same way as shares, so the exposure described above is available without buying each holding separately. The fund follows a rules-based index, so its holdings and weightings are set by the index methodology and adjusted when the index is rebalanced.