Key Highlights

• All three funds use the same five underlying ETF holdings but in different proportions to achieve distinct risk profiles.

• DZZF (aggressive, 90% growth) charges 0.39% p.a. and has $111.76M under management.

• DGGF (growth, 70% growth) and DBBF (balanced, 50% growth) also charge 0.39% p.a. with $49.72M and $31.62M respectively.

BetaShares operates a suite of three ethically screened, multi-asset diversified ETFs on the ASX, each targeting a different risk profile within a sustainable investing framework. The BetaShares Ethical Diversified High Growth ETF (ASX:DZZF), Ethical Diversified Growth ETF (ASX:DGGF), and Ethical Diversified Balanced ETF (ASX:DBBF) were all listed in December 2019. Each fund is constructed from the same five underlying ETFs — ETHI, FAIR, HETH, AEBD, and BetaShares Global Green Bond — but allocates to these building blocks in different proportions to achieve the desired defensive-to-growth asset mix.

Portfolio Construction Across the Suite

The three funds share identical underlying holdings but in differing weights. DZZF (High Growth) allocates 39.46% to ETHI (global sustainability leaders), 34.40% to FAIR (Australian sustainability leaders), 16.98% to HETH (hedged global sustainability leaders), 5.47% to AEBD (ethical Australian composite bond), and 3.66% to the BetaShares Global Green Bond fund — achieving its 90% growth and 10% defensive target. DGGF reweights toward bonds, with AEBD at 16.75% and the Global Green Bond at 11.20%. DBBF goes further, with AEBD at 28.48% and the green bond fund at 19.05%, achieving the 50% defensive allocation.

ESG Framework and Screening

The underlying Equity ETFs — ETHI, FAIR, and HETH — each apply ethical screening methodologies to exclude companies involved in activities such as fossil fuels, weapons, gambling, and other ESG-disqualifying industries. This means DZZF, DGGF, and DBBF all inherently exclude certain sectors, which can result in meaningful deviations from broader market benchmarks. Technology (25.43% for all three equity allocations), Financial Services (24.31%), and Healthcare (13.86%) are the dominant equity sector exposures across the suite, with Utilities at a negligible 0.10%.

Distributions and Fee Structure

All three funds charge a management fee of 0.39% per annum and distribute quarterly. DZZF paid $0.497 per unit in July 2026 (annual Yield 2.67%), DGGF paid $0.397 (annual yield 2.88%), and DBBF paid $0.327 (annual yield 3.15%). The higher yield of DBBF relative to DZZF reflects the larger bond allocation, which generates more regular income. Fund sizes vary meaningfully: DZZF at $111.76 million, DGGF at $49.72 million, and DBBF at $31.62 million.

Conclusion

The BetaShares Ethical Diversified ETF suite provides Australian investors with a range of ethically screened, multi-asset Options spanning aggressive, growth, and balanced risk profiles. The use of a consistent set of underlying ETFs across the three funds creates coherence and simplicity, while the different growth-to-defensive ratios allow investors to match their risk tolerance. Investors drawn to sustainable investing with a diversified, multi-asset structure at a 0.39% management fee will find this suite worth examining — though the ESG screens may introduce sector biases that affect returns in different market environments.

Frequently Asked Questions (FAQs)