Key Highlights

  • IAA tracks the S&P Asia 50 Net TR index and is the largest fund among comparable Asia ex Japan ETFs examined here, with net Assets of $1.71 billion.
  • The fund has traded on ASX since 10 September 2008, carries a management fee of 0.29 percent, and had 8,811,566 units on issue.
  • Technology represents 65.12 percent of the portfolio, substantially above the category average of 45.05 percent, with Taiwan Semiconductor Manufacturing as the single largest holding at 28.26 percent.

The iShares Asia 50 ETF (ASX:IAA) seeks to track the performance of the S&P Asia 50 Net TR Index in Australian dollars, providing exposure to fifty of the region's largest listed companies. Admitted to ASX trading on 10 September 2008, IAA is among the longest-established funds within the Equity Asia Pacific without Japan category and carries a management fee of 0.29 percent per annum, comparatively low relative to actively managed alternatives.

The fund reported net assets of $1.71 billion and 8,811,566 units on issue, making it substantially larger by scale than several other funds in the same category. Risk metrics show a Beta of 1.38 and a Standard Deviation of 30.04, both elevated figures that reflect the portfolio's concentration in a relatively small number of large-capitalisation names and its pronounced sector tilt.

Sector Weighting and Geographic Exposure

Technology is by far the largest sector allocation at 65.12 percent, compared with a category average of 45.05 percent, reflecting the index's weighting toward large-cap semiconductor and electronics manufacturers. Financial Services follows at 15.91 percent, above the 14.22 percent category average, while Consumer Cyclical at 8.14 percent and Communication Services at 7.28 percent both sit below their respective category averages of 14.00 percent and 7.41 percent. Industrials exposure of 1.60 percent is notably underweight relative to the category's 7.31 percent.

By country, Taiwan represents the largest exposure at 38.64 percent, followed by South Korea at 31.20 percent, both above their respective category averages of 23.87 percent and 23.40 percent. China exposure of 20.99 percent sits below the category average of 32.05 percent. Hong Kong and Singapore make up smaller allocations of 4.27 percent and 4.50 percent respectively. The fund held 99.72 percent in equities and 0.29 percent in cash.

Holdings, Returns and Distributions

The portfolio's top ten holdings account for 72.95 percent of total assets across 76 companies. Taiwan Semiconductor Manufacturing is the dominant position at 28.26 percent, followed by Samsung Electronics at 14.42 percent and SK hynix at 10.10 percent. Tencent Holdings, Alibaba Group, MediaTek, DBS Group Holdings, China Construction Bank, Delta Electronics and a Samsung Electronics participating preferred listing complete the remaining top ten names.

The fund declared a final distribution of $1.959 per unit, producing an annual distribution Yield of 1.53 percent, with an ex-date of 1 July 2026 and payment date of 13 July 2026.

Key Takeaways

IAA offers investors passive, large-cap access to the Asia ex Japan region through an index-tracking structure concentrated in Taiwan and South Korea, with a pronounced overweight to Technology relative to its category. Its substantial one-year and three-year return figures sit alongside more recent short-term declines, illustrating how the fund's concentrated positioning in large-capitalisation technology names has shaped both its longer-run performance and its near-term volatility.