Key highlights

  • G200 gives geared exposure to the Australian share market by holding Betashares Australia 200 ETF (ASX:A200) at 152.40% of the fund.
  • Its stock allocation is 152.40% against a cash allocation of negative 52.40%, reflecting a 30-40% loan-to-value ratio.
  • The management fee is 0.59%, fund size is $36.67 million and its annual yield is shown as 1.72%.

Geared ETFs use borrowing to increase the exposure investors receive to an asset class. The Betashares Wealthbuilder Australia 200 Geared (30-40% LVR) Complex ETF (ASX:G200) applies that approach to the Australian share market. It was admitted to the ASX on 23 April 2024 and is categorised by Morningstar as Equity Australia Large Geared. It is a complex ETF.

This article explains the exposure that G200 provides, based on its ASX fund page, including how its gearing is expressed in its asset allocation, what it holds, how its distributions are paid and what filings have been lodged recently. It contains no return data or advice.

What the fund is designed to do

The investment objective of the fund is to provide geared exposure to the returns of the Australian share market. The fund’s name refers to a loan-to-value ratio (LVR) of 30-40%, which means borrowings are intended to represent roughly that proportion of the fund’s total assets. Betashares states there is no assurance or guarantee that the fund’s returns will meet its investment objective.

G200 achieves its exposure by holding a single underlying ETF, the Betashares Australia 200 ETF (ASX:A200). The page lists two total holdings, with A200 shown at 152.40% of the fund. In Morningstar’s Equity Australia Large Geared category, managers may raise further funds through borrowing from financial institutions to purchase extra stocks, which increases the potential size of both gains and losses. The fund’s beta of 1.53 and standard deviation of 15.95 are higher than those of an ungeared market fund, in line with this structure.

Sector allocation

The sector breakdown shows Financial Services (35.59%), Basic Materials (24.47%), and Consumer Cyclical (7.37%) as the three largest allocations. Relative to its Morningstar category average, the fund holds a higher share in Energy (4.66 vs 1.55%), and Consumer Defensive (3.74 vs 1.14%). It holds a lower share than the category average in Basic Materials (24.47 vs 27.36%), and Technology (2.35 vs 4.46%). The remaining listed sectors are Industrials (6.08%), Real Estate (5.76%), Healthcare (5.44%), Energy (4.66%), Consumer Defensive (3.74%), Communication Services (3.19%), and Technology (2.35%).

These weights reflect the look-through exposure to the Australia 200 portfolio rather than direct share holdings, and they are close to the category’s geared average in the largest sectors.

Asset mix, company size and geography

The asset allocation shows stocks at 152.40% and cash at negative 52.40%, with no bonds or other assets. The negative cash figure shows the borrowing used to build the geared position. The category average is stocks at 104.88%, cash at negative 4.16%, bonds at negative 1.75% and other at 1.02%, so G200 is more heavily geared than the average fund in its category.

By company size, 97.21% of the look-through portfolio is in companies above $1 billion, 2.53% in companies between $500 million and $1 billion and 0.27% below $500 million. By geography, Australia accounts for 96.21%, the United States for 2.46%, New Zealand for 0.55%, the United Kingdom for 0.51%, Canada for 0.15% and China for 0.12%.

Top holdings

G200’s only listed holding is the Betashares Australia 200 ETF (ASX:A200), at 152.40% of the fund. A200 itself is a diversified portfolio of the 200 largest ASX-listed companies, so the look-through holdings are the major banks, miners and other large companies of the Australian share market.

Holding a single underlying ETF simplifies the structure of the fund, and the gearing is applied at the fund level rather than within the underlying ETF.

Distributions

G200 pays distributions twice a year. The most recent was a final distribution of $0.122 per unit, with an ex-date of 1 July 2026, a record date of 2 July 2026 and a payment date of 16 July 2026. Earlier distributions were $0.414 in January 2026, $0.186 in July 2025, $0.432 in January 2025 and $0.157 in July 2024. The page lists an annual yield of 1.72%.

Fund snapshot and recent filings

On the ASX page, G200 showed a last price of $31.24, up $0.10 or 0.32%, a bid-offer range of $30.70 to $31.85, a day range of $31.08 to $31.32 and a trading volume of 821 units against an average of 2,865. The fund size is $36.67 million, with 1,177,729 units outstanding and a management fee of 0.59%. The ISIN is AU0000327108, and the head office telephone line is 1300 487 577.

Recent announcements include the Units on Issue Disclosure for September 2026 on 6 October, the Annual Report on 25 September, the units disclosure for August on 4 September, the July units disclosure on 6 August and Estimated Annual Distribution Component Information on 8 July 2026.

What G200’s exposure means in practice

G200 provides geared exposure to the Australian share market through a single underlying ETF, with stock exposure of 152.40% of fund assets and a 0.59% management fee. Its sector mix closely follows the large-cap Australian market.