Key Highlights

  • First Sentier Geared Australian Share Complex ETF (ASX:LEVR) is listed in the Equity Australia Large Geared category with a fund size of $123.49 million and a management fee of 2.38%.
  • The largest sector weighting is Financial Services at 37.38%, with stock making up 98.14% of reported asset allocation.
  • The latest interim distribution is $0.004 per unit, with a payment date of 14 Jul 2026.

Introduction: Fund Overview

First Sentier Geared Australian Share Complex ETF (ASX:LEVR) is an exchange traded fund listed on the ASX within the Equity Australia Large Geared category. It was admitted to the exchange on 15 May 2025, and its benchmark is the S&P/ASX 100 TR. The fund’s approach is based on the belief that, over the medium to long term, stock prices are driven by management’s ability to generate excess returns over their cost of capital. It invests in large companies with sound balance sheets and earnings, uses gearing to magnify returns from the underlying investments, invests in Australian equities and does not hedge currency risk.

The management fee listed for the fund is 2.38%. The fund’s head office is listed in Barangaroo, 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 $1.41, lower by $0.01 or 0.70% on the session, against a previous close of $1.42. Trading volume stood at 100,137 units, with a bid and offer range of $1.41 to $1.42. The day range was $1.41 - $1.41. Average volume is shown as 121,466 units. On size, the fund size is $123.49 million and units outstanding total 86,662,417. Prices are delayed by at least 20 minutes.

Portfolio Composition and Allocation

Asset allocation data lists stock at 98.14% and cash at 1.84%. Morningstar sector data shows the largest weightings in Financial Services (37.38%), Basic Materials (25.86%) and Real Estate (7.29%). Compared with the category average, the largest overweight among the sectors listed is Financial Services, at 37.38% against 35.23%. The largest underweight is Basic Materials, at 25.86% against 27.36% for the category.

By geography, Australia accounts for 94.41% and United States accounts for 5.59%. The fund has 37 total holdings. The holdings listed include BHP Group (14.31%), Commonwealth Bank of Australia (11.23%), National Australia Bank (6.36%), Rio Tinto (4.42%) and Goodman Group (4.15%). The top ten holdings together represent 58.07% of the portfolio.

Distribution Information

The most recent distribution listed is an interim distribution of $0.004 per unit, with an ex-date of 01 Jul 2026, a record date of 02 Jul 2026 and a payment date of 14 Jul 2026. The annual yield is shown as 0.61%. The distribution chart lists July 2026 ($0.004), January 2026 ($0.004) and July 2025 ($0.040). The latest payment is level with the one before it, a reminder that amounts vary between periods.

Risk Measures and Recent Announcements

The fund has a beta of 2.56, a beta above 1, indicating higher sensitivity to market moves than the broader market on that measure, alongside a standard deviation of 27.18. Recent announcements include LEV - MPI tracking - 30.09.2026 (07/10/2026), Outstanding Units on Issue and Monthly Redemptions (07/10/2026) and 30th June 2026 - Audited Financial Statements (23/09/2026).

Category and Market Context

Funds in the Equity Australia Large Geared category use borrowing to hold more exposure than the capital invested, which Morningstar notes increases the element of risk. Gearing magnifies both gains and losses on the underlying portfolio, and the cost of borrowing is part of how these products operate.

Key Risks and Considerations

Because the fund is geared, both gains and losses on the underlying portfolio are magnified, and borrowing costs form part of the structure. Distributions, fees and unit price movements may therefore behave differently from an ungeared fund holding similar shares, and the listed management fee of 2.38% is only one part of the cost picture.

What to Watch Ahead

Items that readers following First Sentier Geared Australian Share Complex ETF (ASX:LEVR) 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

First Sentier Geared Australian Share Complex ETF (ASX:LEVR) is a Equity Australia Large Geared fund admitted to the ASX on 15 May 2025, with the latest ASX data showing a last price of $1.41 and a move of -0.70% on the session, a portfolio led by financial services at 37.38%, and a latest interim distribution of $0.004 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.