Key Highlights

  • Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) is listed in the Equity Australia Long Short category and a management fee of 0.90%.
  • The largest sector weighting is Basic Materials at 29.34%, with stock making up 135.56% of reported asset allocation.
  • The latest final distribution is $0.368 per unit, with a payment date of 13 Jul 2026.

Introduction: Fund Overview

Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) is an exchange traded fund listed on the ASX within the Equity Australia Long Short category. It was admitted to the exchange on 04 March 2026, and its benchmark is the S&P/ASX 200 TR AUD. The fund primarily invests in Australian equities through both long and short positions, with proceeds from short positions reinvested in long positions so that it retains equity market exposure. It can be up to 150% long and up to 50% short, resulting in net market exposure typically between 80% and 100%.

The management fee listed for the fund is 0.90%. The fund’s head office is listed in Brisbane. The sections below walk through the latest trading snapshot, portfolio composition, distribution information, risk measures and recent announcements for the fund.

Latest Trading Snapshot

The last price was $11.26, unchanged on the session (0.00%), against a previous close of $11.26. No trading volume had been recorded at the time of the snapshot, with a bid and offer range of $11.19 to $11.23. Average volume is shown as 7,414 units. The page shows no fund size or units outstanding figure for the fund at this stage. Prices are delayed by at least 20 minutes.

Portfolio Composition and Allocation

Asset allocation data lists stock at 135.56%, cash at -35.83% and other at 0.28%. Figures below zero or above 100% point to borrowing or derivative positions within the structure, which is reflected in how Morningstar reports the allocation. Morningstar sector data shows the largest weightings in Basic Materials (29.34%), Financial Services (14.22%) and Technology (10.31%). Compared with the category average, the largest overweight among the sectors listed is Basic Materials, at 29.34% against 23.82%. The largest underweight is Financial Services, at 14.22% against 23.89% for the category.

By geography, Australia accounts for 81.34%, United States accounts for 9.65%, Switzerland accounts for 3.63%, China accounts for 2.40% and Canada accounts for 1.42%. The fund has 119 total holdings. The holdings listed include BHP Group (8.92%), Santos (4.12%), Commonwealth Bank of Australia (4.05%), Newmont Corp (3.86%) and ResMed (3.69%). The top ten holdings together represent 40.59% of the portfolio.

Distribution Information

The most recent distribution listed is a final distribution of $0.368 per unit, with an ex-date of 01 Jul 2026, a record date of 02 Jul 2026 and a payment date of 13 Jul 2026.

Risk Measures and Recent Announcements

The fund has a beta of 1.23, a beta above 1, indicating higher sensitivity to market moves than the broader market on that measure, alongside a standard deviation of 14.31. Recent announcements include September 2026 Investment Update (13/10/2026), Derivatives Disclosure - September 2026 (07/10/2026), Units on Issue & Movements - September 2026 (07/10/2026) and Annual Report (22/09/2026).

Category and Market Context

Long-short Australian equity funds hold sizeable long and short positions in Australian-domiciled equities, exchange-traded funds and related derivatives. Morningstar notes these funds are more likely than other equity categories to have an absolute target objective rather than a market benchmark objective, and their exposure to the Australian market can vary over time.

Key Risks and Considerations

Long-short funds carry the risks of both their long and short positions. Short positions can lose value when the shares sold short rise, and the net market exposure can change over time. The asset allocation figures above 100% for stock and below zero for cash show how short-selling and leverage appear in the reported data. The fund’s results depend heavily on stock selection.

What to Watch Ahead

Items that readers following Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) may track include the next monthly units-on-issue disclosure, distribution announcements and any portfolio or investment updates from the manager. Changes in the sector and asset mix, trading volumes and the fund’s size over time will also show how the portfolio is evolving. This article is informational and does not constitute investment advice.

The Bottom Line

Firetrail Alpha Plus Fund - Complex ETF (ASX:FIRE) is a Equity Australia Long Short fund admitted to the ASX on 04 March 2026, with the latest ASX data showing a last price of $11.26 and no change on the session, a portfolio led by basic materials at 29.34%, and a latest final distribution of $0.368 per unit. Reading these figures alongside the fund’s category, fee, structure and risk measures gives a fuller picture of how the ETF is built and how it has been trading.