Highlights

  • AUST provides large-cap Australian equity exposure alongside a volatility-management strategy.
  • It generally holds about 200 large ASX-listed securities and uses SPI 200 futures contracts.
  • Financial Services represents 32.59% of reported sector weight, followed by Basic Materials at 27.27%.
  • BHP and Commonwealth Bank are its largest holdings at 12.24% and 9.73%.

Betashares Managed Risk Australian Shares ETF (ASX:AUST) is a complex ETF designed to hold a diversified Australian share portfolio while using a mechanism intended to help manage equity-market volatility and cushion downside risk. It generally holds approximately 200 large ASX-listed companies and uses ASX SPI 200 futures contracts to alter market exposure.

Australian Large-Cap Exposure With Managed Risk

The underlying portfolio generally holds approximately 200 of Australia’s largest listed businesses, weighted by market capitalisation and rebalanced quarterly. The fund sells ASX SPI 200 futures contracts to manage volatility and adjust equity exposure. This mechanism may soften the impact of some market declines, but does not prevent losses or guarantee downside protection. It may also constrain participation during rising markets when exposure has been reduced. Reported asset allocation shows 100.00% shares; the futures overlay is a separate strategy component.

Banking and Resources Dominate Sector Exposure

Financial Services represents 32.59% and Basic Materials 27.27%, together accounting for 59.86% of reported sector weights. Consumer Cyclical accounts for 6.90%, Healthcare 6.51%, Industrials 5.72%, Real Estate 5.33%, Energy 4.74%, Consumer Defensive 3.74%, Communication Services 3.28% and Technology 2.48%. The sector composition highlights substantial sensitivity to banks and resource-related companies.

BHP and Major Banks Lead Portfolio Holdings

AUST reports 200 company holdings, with the ten largest representing 48.83%. BHP (ASX:BHP) holds a 12.24% weight, while Commonwealth Bank (ASX:CBA) contributes 9.73%. National Australia Bank (ASX:NAB) accounts for 4.32%, Westpac (ASX:WBC) for 4.31% and ANZ (ASX:ANZ) for 4.09%. The latter four banks total 22.45%. Wesfarmers represents 3.29%, Macquarie Group 3.22%, CSL 3.02%, Rio Tinto 2.35% and Woodside Energy 2.23%. Australia represents 95.82% of geographic exposure.

Fund Fees and Portfolio Characteristics

The management fee is stated at 0.49%. Reported beta is 0.80, standard deviation 8.39 and portfolio turnover 7.60%. Companies valued above AUD 1 billion represent 97.08% of market-capitalisation exposure. The benchmark is the S&P/ASX 200 Total Return AUD Index. A final distribution of AUD 0.245 per unit was paid on 16 July 2026.

Key Insights

AUST combines Australian large-cap exposure with a futures overlay designed to manage volatility. Major banks, BHP and other blue-chip companies drive the equity sleeve, while futures positions can change how the fund behaves relative to an unhedged share portfolio. The downside-management mechanism is conditional and cannot guarantee protection against losses.