Highlights

  • QFN aims to track the Solactive Australia Financials Ex-REITs Sector index before fees and expenses.
  • Financial services represented 99.59% of the reported sector allocation.
  • Commonwealth Bank was weighted at 29.17%, with the ten largest holdings representing 92.87%.
  • Management fees and costs were listed at 0.34%, with fund size of AUD 78.90 million.

Betashares Australian Financials Sector ETF (ASX:QFN) provides exposure to Australian financial companies through the Solactive Australia Financials Ex-REITs Sector Index. Its objective is to track that benchmark before fees and expenses. At the time of writing on 6 November 2026, QFN was trading at AUD 18.81. The portfolio contains banking, insurance and other financial businesses, but its largest bank holdings account for a substantial share of the allocation.

A financial Equity mandate excluding property trusts

The benchmark’s exclusion of real estate Investment trusts defines the fund’s focus on financial sector equities. This gives QFN a different exposure from a broad Australian share portfolio that also includes mining, healthcare, property and consumer businesses. The asset allocation was reported as entirely equities.

Financial services accounted for 99.59% of the sector breakdown, with small technology and industrial classifications also reported. The portfolio figures listed 28 companies. This company count provides some breadth within the mandate, but it does not create Diversification across the wider economy. Common banking and financial conditions can affect several major constituents together.

The largest banks dominate the portfolio

Commonwealth Bank was the largest holding at 29.17%. National Australia Bank represented 14.14%, Westpac 13.89% and ANZ Group 13.38%. Macquarie Group added 10.25%. Together, these five positions accounted for 80.83%, demonstrating how strongly the fund is influenced by a small group of financial businesses.

QBE Insurance was weighted at 4.02%, followed by Suncorp at 2.43%, Insurance Australia Group at 2.14%, Washington H. Soul Pattinson at 1.93% and Medibank Private at 1.47%. The ten largest holdings represented 92.87%. The remaining positions add exposure to other companies but have a comparatively limited combined weight.

Costs income and shared sector risks

The Market Capitalisation breakdown allocated 98.94% to companies above AUD 1 billion. Geographic exposure was 99.70% Australia, with small New Zealand and United States allocations. These classifications describe the portfolio and do not imply that every underlying Business operates solely within Australia.

Management fees and costs were listed at 0.34%. The final distribution was AUD 0.106 per unit, ex-distribution on 1 July 2026, with a Record Date of 2 July and payment on 16 July. Future amounts can vary. Credit demand, funding costs and changes in the financial environment can affect the underlying companies. A sector ETF retains those common exposures alongside individual company risk.

Key Insights

QFN offers a targeted financial sector allocation with pronounced major bank concentration. Insurance and other financial holdings broaden the company mix, but the leading five positions dominate the fund. The exposure is therefore best understood through both its sector mandate and individual holding weights.