Key Highlights

  • BNDS is an actively managed Australian bond fund that uses interest rate, sector and security selection.
  • The portfolio holds about 517 positions, with Commonwealth and state Government Bonds among the largest.
  • Management fees are 0.42% a year, with an interim distribution of A$0.104 and an annual Yield of 4.75%.
  • The fund traded at A$23.01 in the 5 November 2026 session, up 0.52%.

The Betashares Western Asset Australian Bond Active ETF (ASX:BNDS) is an actively managed fixed income fund. Its approach draws on Interest Rate management, sector positioning and security selection, supported by Credit research and diversification. Units traded at A$23.01 during the 5 November 2026 session, up 0.52%, while the S&P/ASX 200 gained 1.87%.

Fund detail

Information

Share price (5 Nov 2026 session)

A$23.01, up 0.52%

Management fees and costs

0.42% a year

Annual yield

4.75%

Last distribution

A$0.104 interim, ex-date 2 November 2026

Number of holdings

About 517 positions

Benchmark

Bloomberg AusBond Composite 0+Y TR AUD

Admitted to ASX

16 November 2018

What the fund is

BNDS is an actively managed exchange-traded fund that invests in Australian fixed income. Units trade on the ASX during market hours, and the unit price reflects the value of the bonds held and Demand for units.

The manager does not follow a fixed index. Instead, it draws on several active sources of return and adjusts the portfolio as conditions change, so its results depend on the quality of those decisions.

How the approach works

The manager uses several active sources of return. These include interest rate management, such as duration and Yield Curve positioning, along with sector allocation and security selection. Risk management, credit research and Diversification of holdings are central to the process.

Australia accounts for about 78% of the portfolio, with New Zealand, the United States and the United Kingdom as the next largest exposures. The largest holdings are Commonwealth and state government bonds, each typically around 1% to 2%.

Income and costs

The most recent distribution was an interim payment of A$0.104, with an ex-date of 2 November 2026 and payment on 17 November 2026. The annual yield is 4.75%. Yield reflects recent distributions relative to the unit price and will change as holdings and prices move.

Management fees and costs are 0.42% a year. Because the fund is actively managed, the fee pays for the manager's research and trading, so investors should judge the net result against what active management is expected to add.

What to understand before investing

Bond funds carry interest rate risk, and an active manager's duration and yield curve bets can amplify or reduce that effect. If yields move against the manager's positioning, the unit price can fall, even if income continues.

Credit risk also applies where the fund holds corporate or other non-government debt. Investors should consider how the fund's active decisions and credit exposure fit with their other fixed income holdings and their need for stable income.

Comparing with an index bond fund

Investors comparing BNDS with a passively managed bond index fund may look at the fee, the duration, the credit mix and the consistency of results against the benchmark. Active bond funds can outperform or lag their benchmarks depending on how rates and spreads move.

Final Word

BNDS gives investors a broad, actively managed Australian bond exposure. Its results depend heavily on the manager's rate, sector and security decisions, which sets it apart from a passively tracked bond index.