How Does Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) Combine S&P 500 Exposure With an Income Objective?

Sonal Goyal

28 October 2026 12:33 AM AEDT

How Does Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) Combine S&P 500 Exposure With an Income Objective?

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Key Highlights

Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) aims to provide exposure to the S&P 500 while providing regular income that exceeds the dividend yield of the stocks alone.
The portfolio holds a single underlying fund, iShares Core S&P 500 ETF (IVV), at 100% of the portfolio.
Fund size is $327.14 million and the management fee is 0.79%.

Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) is an exchange traded fund that aims to provide exposure to the stocks comprising the S&P 500 Index while providing regular income that exceeds the dividend yield of the stocks alone. Admitted to the ASX on 19 September 2014, the fund has a fund size of $327.14 million and a management fee of 0.79%. This article outlines its objective, portfolio and distributions.

Exposure and Investment Approach

The S&P 500 Index tracks 500 large capitalisation U.S. equities. The fund also aims to provide the potential for some capital growth and lower overall volatility than the index. It is classified as a complex ETF and is benchmarked to the S&P 500 TR AUD index.

Portfolio Composition

The portfolio is held through a single investment, iShares Core S&P 500 ETF (IVV), which represents 100.00% of the fund.

By sector, the portfolio is allocated as follows: Technology 38.69%, Financial Services 12.07%, Communication Services 9.50%, Consumer Cyclical 9.31%, Healthcare 9.28%, Industrials 7.75%, Consumer Defensive 4.46%, Energy 3.48%.

By size, 98.91% of the portfolio is in companies above $1 billion in market capitalisation. Geographic exposure is United States (99.53%).

Key Features to Understand

The portfolio holds a single investment, the iShares Core S&P 500 ETF (IVV), and the sector mix mirrors the S&P 500: technology at 38.69%, financial services at 12.07% and communication services at 9.50%. Turnover is 19.63%, and 98.91% of the portfolio is in companies above $1 billion in market capitalisation. A distribution timetable was published on 26 October 2026.

Distribution Details

The fund's most recent recorded distribution was a interim distribution of $0.104 per unit, with an ex-date of 1 October 2026, a record date of 2 October 2026 and payment on 16 October 2026.

Fund Details at a Glance

Fund name: Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX)
Issuer: Betashares
Category: Equity North America
Benchmark: S&P 500 TR AUD
Admitted to the ASX: 19 September 2014
Fund size: $327.14 million
Management fee: 0.79%
ISIN: AU00000UMAX3

Recent Announcements

A distribution timetable was published on 26 October 2026, alongside a DRP issue price, a final distribution announcement on 1 October 2026 and a units on issue disclosure for September 2026.

Closing Perspective

Betashares S&P 500 Yield Maximiser Complex ETF pairs S&P 500 exposure with an objective of regular income above the dividend yield of the underlying stocks. Its most recent distribution was an interim distribution of $0.104 per unit, paid on 16 October 2026.

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