Key Highlights

  • Ten Cap Alpha Plus Complex ETF (ASX:TCAP) is listed in the Equity Australia Long Short category and a management fee of 0.97%.
  • The largest sector weighting is Financial Services at 33.54%, with stock making up 99.10% of reported asset allocation.
  • The latest final distribution is $0.116 per unit, with a payment date of 15 Jul 2026.

Introduction: Fund Overview

Ten Cap Alpha Plus Complex ETF (ASX:TCAP) is an exchange traded fund listed on the ASX within the Equity Australia Long Short category. It was admitted to the exchange on 24 November 2025, and its benchmark is the S&P/ASX 200 Accumulation TR AUD. The fund aims to deliver positive returns in excess of its benchmark, before fees and expenses, over the long term by taking both long and short positions in selected Australian shares.

The management fee listed for the fund is 0.97%. The fund’s head office is listed in Sydney. The sections below walk through the latest trading snapshot, portfolio composition, distribution information, risk measures and recent announcements for the fund.

Latest Trading Snapshot

The last price was $9.61, unchanged on the session (0.00%), against a previous close of $9.61. No trading volume had been recorded at the time of the snapshot, with a bid and offer range of $9.58 to $9.60. Average volume is shown as 1,930 units. The page shows no fund size or units outstanding figure for the fund at this stage. Prices are delayed by at least 20 minutes.

Portfolio Composition and Allocation

Asset allocation data lists stock at 99.10% and cash at 0.90%. Morningstar sector data shows the largest weightings in Financial Services (33.54%), Basic Materials (24.44%) and Consumer Cyclical (10.79%). Compared with the category average, the largest overweight among the sectors listed is Financial Services, at 33.54% against 23.89%. The largest underweight is Communication Services, at 1.10% against 5.88% for the category.

By geography, Australia accounts for 94.19%, United States accounts for 4.02%, United Kingdom accounts for 1.07% and China accounts for 0.46%. The fund has 107 total holdings. The holdings listed include BHP Group (12.46%), Commonwealth Bank of Australia (9.43%), Macquarie Group (4.19%), Wesfarmers (4.05%) and Westpac Banking Corporation (4.02%). The top ten holdings together represent 51.79% of the portfolio.

Distribution Information

The most recent distribution listed is a final distribution of $0.116 per unit, with an ex-date of 01 Jul 2026, a record date of 02 Jul 2026 and a payment date of 15 Jul 2026. The annual yield is shown as 2.70%. The distribution chart lists July 2026 ($0.116) and January 2026 ($0.143). The latest payment is lower than the one before it, a reminder that amounts vary between periods.

Risk Measures and Recent Announcements

Recent announcements include TCAP - MPI Quarterly Correlation - Sep 26 (05/10/2026), Units on Issue, Applications, Redemptions & ETD - SEP 2026 (02/10/2026) and Annual Financial Report for the period ending 30 June 2026 (29/09/2026).

Category and Market Context

Long-short Australian equity funds hold sizeable long and short positions in Australian-domiciled equities, exchange-traded funds and related derivatives. Morningstar notes these funds are more likely than other equity categories to have an absolute target objective rather than a market benchmark objective, and their exposure to the Australian market can vary over time.

Key Risks and Considerations

Long-short funds carry the risks of both their long and short positions. Short positions can lose value when the shares sold short rise, and the net market exposure can change over time. The fund’s results depend heavily on stock selection.

What to Watch Ahead

Items that readers following Ten Cap Alpha Plus Complex ETF (ASX:TCAP) may track include the next monthly units-on-issue disclosure, distribution announcements and any portfolio or investment updates from the manager. Changes in the sector and asset mix, trading volumes and the fund’s size over time will also show how the portfolio is evolving. This article is informational and does not constitute investment advice.

The Bottom Line

Ten Cap Alpha Plus Complex ETF (ASX:TCAP) is a Equity Australia Long Short fund admitted to the ASX on 24 November 2025, with the latest ASX data showing a last price of $9.61 and no change on the session, a portfolio led by financial services at 33.54%, and a latest final distribution of $0.116 per unit. Reading these figures alongside the fund’s category, fee, structure and risk measures gives a fuller picture of how the ETF is built and how it has been trading.