Key Highlights

  • QPON invests mostly in senior floating-rate bonds issued by Australian banks.
  • The fund holds about 18 issuers, with National Australia Bank, Westpac, Commonwealth Bank and ANZ among the largest.
  • Management fees are 0.22% a year, with an interim distribution of A$0.118 and an annual Yield of 4.50%.
  • The fund traded at A$26.19 in the 5 November 2026 session, down 0.07%.

The Betashares Australian Bank Senior Floating Rate Bond ETF (ASX:QPON) gives investors exposure to floating-rate senior Debt issued by Australia's major banks. Because the coupons reset with interest rates, the fund's income is linked to the cash rate environment. Units traded at A$26.19 during the 5 November 2026 session, down 0.07%, while the S&P/ASX 200 gained 1.87%.

Fund detail

Information

Share price (5 Nov 2026 session)

A$26.19, down 0.07%

Fund size

A$2.37 billion

Management fees and costs

0.22% a year

Annual yield

4.50%

Last distribution

A$0.118 interim, ex-date 2 November 2026

Number of issuers

18 companies

Benchmark

Solactive Aus Bank Sr Fltng Rt Bd TR AUD

Admitted to ASX

6 June 2017

What the fund is

QPON is an exchange-traded fund that aims to track an index of senior floating-rate bank debt. The fund passively holds the securities in its index in proportion to their index weights, and investors buy and sell units on the ASX like shares.

The product is designed for investors who want exposure to bank debt with a coupon that adjusts over time, rather than a fixed coupon set when the bond is issued.

How the portfolio is built

About 99% of the fund is in bonds, mostly senior floating-rate notes from the major Australian banks. Among the largest holdings are notes from National Australia Bank, Westpac, Commonwealth Bank and ANZ, with a small number of other issuers. Almost all of the exposure is to Australian issuers.

The portfolio is concentrated by issuer, because the index includes a limited number of bank issuers. This means that news affecting the banking sector can affect a large part of the fund at once.

How floating rates affect income

Floating-rate notes pay a coupon that moves with a short-term benchmark rate. When that rate rises, the coupon rises, and when it falls, the coupon falls. This means the fund's income can change as rates move, which is different from a fixed-rate bond fund.

Because coupons reset regularly, the unit price of a floating-rate fund is usually less sensitive to Interest Rate changes than a fixed-rate bond fund. Price moves are driven more by changes in Credit spreads, meaning the extra return investors receive over the benchmark rate for holding bank credit.

Income and costs

The most recent distribution was an interim payment of A$0.118, with an ex-date of 2 November 2026 and payment on 17 November 2026. The annual yield is 4.50%. Yield is based on recent distributions relative to the unit price and will change as coupons reset and as the unit price moves.

Management fees and costs are 0.22% a year. Fees reduce the Net Income paid to unitholders, so the comparison between funds should be made on a net basis.

What to understand before investing

Investing in bank debt carries credit risk. If a bank were to experience financial stress, the value of its notes could fall, and income could be affected. Liquidity can also decline in stressed markets, which can widen the gap between the price on screen and the underlying value.

Investors should consider their overall exposure to the banking sector, including any shares or other bank-linked holdings they already own. The fund's returns are concentrated in a single sector, which should be weighed alongside broader diversification.

Final Word

QPON gives a concentrated, floating-rate exposure to Australian bank debt. Its income moves with interest rates, and its credit risk is tied to the major banks, so both are central to any assessment of the fund.