Key Highlights

  • AAA invests its Assets into bank deposit accounts held with major Australian banks.
  • The fund has a fund size of A$5.05 billion and holds a small number of cash and term deposit positions.
  • Management fees are 0.18% a year, with an interim distribution of A$0.198 and an annual Yield of 4.21%.
  • The fund traded at A$50.10 in the 5 November 2026 session, up 0.04%.

The Betashares Australian High Interest Cash ETF (ASX:AAA) gives investors a way to hold cash in bank deposit accounts through an ASX-listed fund. Its units are priced close to A$50, and the fund traded at A$50.10 during the 5 November 2026 session, up 0.04%, while the S&P/ASX 200 gained 1.87%.

Fund detail

Information

Share price (5 Nov 2026 session)

A$50.10, up 0.04%

Fund size

A$5.05 billion

Management fees and costs

0.18% a year

Annual yield

4.21%

Last distribution

A$0.198 interim, ex-date 2 November 2026

Number of holdings

9 positions, including bank term deposits

Benchmark

30 Day Bank Bill Swap Rate

Admitted to ASX

7 March 2012

What the fund is

AAA is an exchange-traded fund that invests all of its assets into bank deposit accounts maintained with Australian banks, including Australia and New Zealand Banking Group, Commonwealth Bank of Australia and National Australia Bank. Its structure is closer to a cash holding than to a share or bond fund.

The fund is designed to give investors an accessible, exchange-traded way to hold cash that earns interest. Units are bought and sold on the ASX during trading hours, and the fund's income is generated from the interest on its deposits.

How the portfolio is built

Cash makes up almost all of the portfolio, and the rest is held in short-dated term deposits. The fund holds no shares and no bonds, which means its exposure is concentrated in the Credit quality of its deposit counterparties and in short-term interest rates.

Because the holdings are short-dated deposits, the unit price tends to move very little from day to day. Most of the change in value comes from the interest accruing to the fund and the regular distributions paid to unitholders.

Income and costs

The most recent distribution was an interim payment of A$0.198, with an ex-date of 2 November 2026 and payment on 10 November 2026. The annual yield is 4.21%. The yield is based on recent distributions relative to the unit price and will move as short-term interest rates and deposit rates change.

Management fees and costs are 0.18% a year. Fees reduce the Net Income that unitholders receive, so investors comparing cash-style funds should look at the net yield after fees rather than the headline rate alone.

What to understand before investing

Cash-style funds are not risk-free. The fund's value depends on the Solvency of the banks holding its deposits, and the income it pays will fall if deposit rates fall. Investors should also consider that cash holdings can lag growth assets over longer periods, which is a trade-off of the lower-risk profile.

Units can trade at a small premium or discount to the underlying value, particularly during periods of market stress. Investors should consider how a cash-style fund fits alongside their other savings and investments and whether its Liquidity and return profile meet their needs.

Comparing cash options

When comparing AAA with other cash-style products, the net yield after fees, the counterparties holding the deposits and the way income is paid are the main points to compare. A bank term deposit locks money away for a set period, while the fund allows units to be sold on the ASX, which gives different levels of access and flexibility.

Investors may also consider the timing of distributions, since the income an ETF pays can vary from one period to the next as deposit rates change.

Final Word

AAA offers an exchange-traded way to hold cash, with income linked to short-term deposit rates. Its simplicity is its appeal, but its returns and income will move with interest rates over time.