Key highlights

  • R3AL holds 35 companies, with real estate at 59.28%, utilities at 17.22% and industrials at 16.73% of the fund.
  • The fund aims to provide a pre-tax income yield above the S&P/ASX 200 Index yield and to grow income above the rate of inflation.
  • The management fee is 0.85% and its annual yield is shown as 5.27%.

Income-focused ETFs that invest in property, infrastructure and utilities appeal to those who want regular distributions from assets with contracted or regulated revenue. The ClearBridge Real Income Fund Active ETF (ASX:R3AL) is an Australian-listed example. It was admitted to the ASX on 28 January 2025, is classified by Morningstar as Equity Australia Other and uses the S&P/ASX 200 TR AUD index as its benchmark.

This article describes the exposure R3AL provides, using its ASX fund page, including its sector and geographic mix, its largest holdings, its fee and its distribution history. It contains no return data or advice.

What the fund is designed to do

The fund aims to provide a pre-tax income yield above the S&P/ASX 200 Index yield and to grow this income above the rate of inflation. It does so by investing in listed companies with real assets, which in practice means property trusts, infrastructure owners, utilities and similar businesses, held in a portfolio of 35 companies.

Morningstar’s Equity Australia Other category covers funds that invest almost exclusively in Australian companies, with less than 20% of the portfolio in other assets, and may be defined by a single sector or country exposure. R3AL differs from the category in having a large share of its portfolio overseas, and its beta is 0.47 with a standard deviation of 9.12, both of which are low. The fund’s turnover ratio is 16.00%.

Sector allocation

The sector breakdown shows Real Estate (59.28%), Utilities (17.22%), and Industrials (16.73%) as the three largest allocations. Relative to its Morningstar category average, the fund holds a higher share in Real Estate (59.28 vs 7.22%), Utilities (17.22 vs 2.50%), and Industrials (16.73 vs 6.98%). It holds a lower share than the category average in Consumer Cyclical (0.00 vs 4.68%), Consumer Defensive (0.00 vs 2.64%), Energy (0.00 vs 5.43%), Financial Services (0.00 vs 25.92%), Healthcare (0.00 vs 4.22%), and Basic Materials (0.00 vs 29.91%). The remaining listed sectors are Communication Services (6.77%), Consumer Cyclical (0.00%), Consumer Defensive (0.00%), Energy (0.00%), Financial Services (0.00%), Healthcare (0.00%), and Basic Materials (0.00%).

The fund holds no banks, miners or healthcare companies, which dominate broad Australian share indices, and its exposure is instead concentrated in real assets.

Asset mix, company size and geography

Stocks are 97.21% of the fund and cash is 2.79%. By company size, 81.20% is in companies above $1 billion, 17.69% in companies between $500 million and $1 billion and 1.10% below $500 million, compared with category averages of 90.14%, 7.97% and 1.89%.

Geographically, 68.19% of the fund is in Australia, 12.70% in the United States, 12.54% in New Zealand, 3.73% in Canada, 1.04% in Singapore, 0.91% in the United Kingdom and 0.89% in Hong Kong. The category average is 92.88% in Australia, so the fund has substantially more exposure to New Zealand and the United States.

Top holdings

The ten largest holdings make up 54.15% of the fund, with 45.85% across the other 25. They are Scentre Group (ASX:SCG) at 7.54%, Aurizon Holdings (ASX:AZJ) at 7.21%, Chorus at 6.58%, APA Group (ASX:APA) at 6.26%, Digital Realty Trust at 5.39%, AGL Energy (ASX:AGL) at 4.85%, Stockland (ASX:SGP) at 4.61%, Transurban Group (ASX:TCL) at 4.42%, Canadian National Railway at 3.62% and Vicinity Centres (ASX:VCX) at 3.62%.

The list spans shopping centre owners, a rail freight operator, a telecommunications network, pipelines, a data centre real estate trust, an electricity retailer and a toll road operator.

Distributions

R3AL pays distributions quarterly. The most recent was an interim distribution of $0.009 per unit, with an ex-date of 1 October 2026, a record date of 2 October 2026 and a payment date of 12 October 2026. Earlier distributions listed on the page were $0.045, $0.018, $0.004 and $0.005 across the preceding quarters, and the annual yield is shown as 5.27%. An announcement lodged on 2 October 2026 corrected the distribution details.

Fund snapshot and recent filings

On the ASX page, R3AL showed a last price of $1.47 with no change, a bid-offer range of $1.42 to $1.47, a day range of $1.47 to $1.47 and a trading volume of 67,424 units against an average of 28,945. The management fee is 0.85% and the ISIN is AU60SSB00264. Its head office is at Level 47, 120 Collins Street, Melbourne.

Recent announcements include the applications, redemptions and units on issue report as at 30 September on 7 October 2026, the quarterly correlation report for September on 5 October, the distribution reinvestment plan price on 2 October, a correction to distribution details on 2 October and the annual report to 30 June 2026 on 29 September 2026.

What R3AL’s exposure comes to

R3AL gives income-oriented exposure to 35 real asset companies, with real estate at 59.28%, utilities at 17.22% and no banks or miners. It carries a 0.85% management fee and distributes quarterly.