Income on Top of the Index: How Betashares UMAX (ASX:UMAX) Is Designed

Sonal Goyal

28 October 2026 12:31 PM AEDT

Income on Top of the Index: How Betashares UMAX (ASX:UMAX) Is Designed

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Key Highlights

Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) aims to provide S&P 500 exposure with regular income above the dividend yield of the stocks alone.
The portfolio is held through iShares Core S&P 500 ETF, which represents 100.00% of assets.
The fund has a management fee of 0.79% and a fund size of $327.14 million.

As of 27 October, Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX) has $327.14 million in assets and aims to pair S&P 500 exposure with regular income. The fund was admitted on 19 September 2014 and charges 0.79%.

Key Fact	Detail
Fund	Betashares S&P 500 Yield Maximiser Complex ETF
ASX code	UMAX
Issuer	Betashares
Category	Equity North America
Benchmark	S&P 500 TR AUD
ISIN	AU00000UMAX3
Admitted to the ASX	19 September 2014
Fund size	$327.14 million
Management fee	0.79%
Holdings	A single holding
Latest distribution	Interim, $0.104 per unit (ex-date 1 Oct 2026; payment 16 Oct 2026)

The Income Objective

The fund aims to provide exposure to the stocks comprising the S&P 500 Index while delivering regular income that exceeds the dividend yield of those stocks alone. It also seeks the potential for some capital growth and lower overall volatility than the index. Its portfolio is a single holding, iShares Core S&P 500 ETF (IVV), at 100%.

Look-Through Profile

Technology is 38.69% of the look-through mix, with financial services at 12.07% and communication services at 9.50%. Turnover is 19.63%, and 98.91% of the portfolio is above $1 billion in market capitalisation. A distribution timetable was lodged on 26 October 2026.

Portfolio Snapshot

Geographic exposure covers United States (99.53%).

Distribution Schedule

The most recent distribution on record is an 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.

Recent Filings

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.

Category Context

Betashares S&P 500 Yield Maximiser Complex ETF is classified as Equity North America. Funds in this category invest in the securities of companies listed in the USA and/or Canada, and securities from these countries typically account for at least 75% of the portfolio.

Benchmark and Listing History

The fund is benchmarked to the S&P 500 TR AUD index. The fund has been listed since 19 September 2014, a period of about 12 years. It is issued by Betashares under ISIN AU00000UMAX3. The management fee is 0.79%.

Reading the Distribution Dates

The ex-date is the first day on which units trade without the right to the next distribution. The record date is when entitlements are determined from the register, and the payment date is when the distribution is paid to eligible holders.

Closing Notes

UMAX layers an income objective over S&P 500 exposure within a complex ETF. The latest distribution was an interim payment of $0.104 per unit on 16 October 2026.

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