Key Highlights

  • MMKT aims to deliver a Yield above the Bloomberg AusBond Bank Bill index while seeking to preserve invested capital.
  • The portfolio is mostly cash, with about 21% in bonds, and it holds around 170 companies and issuers.
  • Management fees are 0.18% a year, and the latest interim distribution is A$0.209.
  • The fund traded at A$50.05 in the 5 November 2026 session, up 0.02%.

The Betashares Australian Cash Plus Active ETF (ASX:MMKT) is an actively managed fund that invests in cash and Money Market instruments. Its stated aim is a yield above the Bloomberg AusBond Bank Bill Index while preserving Capital and keeping units liquid. The fund traded at A$50.05 during the 5 November 2026 session, up 0.02%, while the S&P/ASX 200 gained 1.87%.

Fund detail

Information

Share price (5 Nov 2026 session)

A$50.05, up 0.02%

Fund size

A$664.28 million

Management fees and costs

0.18% a year

Last distribution

A$0.209 interim, ex-date 2 November 2026

Asset mix

About 79% cash, 21% bonds

Number of holdings

About 170 companies and issuers

Benchmark

Bloomberg AusBond Bank 0+Y TR AUD

Admitted to ASX

24 November 2023

What the fund is

MMKT is an actively managed exchange-traded fund that invests predominantly in cash and money market instruments. Units trade on the ASX, so investors can buy and sell during trading hours, while the manager selects the underlying securities.

The fund is positioned between a pure cash holding and a short-term bond fund. Its objective is to provide a yield above a bank bill benchmark, while seeking to preserve capital and provide ready liquidity.

How the portfolio is built

The portfolio is weighted toward highly liquid securities, such as bank deposits and bank bills, with a smaller allocation to bonds. The overall Maturity is expected to be less than two years, which keeps the fund's sensitivity to Interest Rate changes relatively low.

Holdings include short-term securities from several banks, including UBS, United Overseas Bank, Royal Bank of Canada, Kiwibank and Bank of Queensland. The fund also holds a small number of longer-dated issuers, including NBN Co and ASX. Its large number of issuers spreads exposure across many counterparties.

Income and costs

The most recent distribution was an interim payment of A$0.209, with an ex-date of 2 November 2026 and payment on 10 November 2026. The latest page does not show an annual yield for the fund. Income will depend on the yields earned on the cash and bonds held and on the manager's decisions about maturities.

Management fees and costs are 0.18% a year. Because the fund is actively managed, investors also pay for the manager's selection process, so the net return after fees is the figure that matters to unitholders.

What to understand before investing

A cash-plus fund is not the same as a term deposit. The unit price can move, even if slightly, and the income is not guaranteed. The fund's bond holdings add some sensitivity to Credit spreads and interest rates, which investors should understand before comparing it with a bank deposit.

Units can trade at a small premium or discount to their underlying value, particularly in periods of market stress. Investors should consider how the fund fits within their wider cash and fixed income holdings and whether its Liquidity and risk profile suit their needs.

Comparing with cash and term deposits

Investors comparing MMKT with a term deposit should note that the fund has no fixed maturity and can be sold on the ASX, while a deposit returns capital at a set date. The fund's income also varies with the securities it holds, whereas a deposit pays a fixed rate for its term.

A useful comparison is the net yield after fees against the rate on a term deposit of similar duration, together with the credit quality of the holdings and how much of the portfolio is in bonds rather than cash.

Final Word

MMKT offers a cash-style, actively managed income approach with a small bond allocation. Its results depend on the manager's choices across short-dated securities, which makes it distinct from a pure deposit product.