• ISEC aims to outperform the S&P/ASX Bank Bill Index using a passive strategy.
  • The portfolio is 85.96% cash and 14.04% bonds across 91 holdings.
  • Australia represents 53.42% of reported exposure.
  • The management fee is 0.12% and distributions are monthly.

The iShares Enhanced Cash ETF (ASX:ISEC) is a passive fund that aims to outperform the S&P/ASX Bank Bill Index. It sits in the Australian Short Term Fixed Interest category and has been listed since 6 June 2017. The fund holds 91 securities and carries a management fee of 0.12%. The table below summarises its main details.

Fund name

iShares Enhanced Cash ETF

ASX code

ISEC

Category

Australian Short Term Fixed Interest

Benchmark

S&P/ASX Bank Bill TR AUD

Management fee

0.12%

Last price (23 October 2026 session)

$100.56

Admitted to ASX

6 June 2017

What exposure does ISEC offer?

ISEC employs a passive investment strategy that aims to outperform the performance of the S&P/ASX Bank Bill Index. The portfolio is 85.96% cash and 14.04% bonds. Australian issuers account for 53.42% of reported exposure, with Canada at 17.31%, New Zealand at 14.81% and the Netherlands at 9.62%. Holdings include short-dated bank paper from Kiwibank, Royal Bank of Canada, Macquarie Bank, Rabobank and Commonwealth Bank.

The Australian Short Term Fixed Interest category covers funds that invest mainly in highly liquid securities such as bank deposits and bank bills. These funds may also hold direct fixed-interest securities, high-quality corporate debt and asset-backed securities, with overall maturity expected to be under two years and an average credit quality of AA or above.

Portfolio composition

The fund's reported asset allocation comprises cash 85.96% and bonds 14.04%. By region, the largest weightings are Australia (53.42%), Canada (17.31%), New Zealand (14.81%), the Netherlands (9.62%) and South Korea (4.84%). The fund reports 91 holdings, and the ten largest account for 14.29% of the portfolio. The leading positions include Kiwibank Limited 5.4814% (2.08%), Royal Bank of Canada, Sydney Branch 4.9163% (2.02%) and Macquarie Bank Ltd. 5.0965% (1.61%).

Fees, price and distributions

The management fee is 0.12%. The last quoted price was $100.56 during the 23 October 2026 session. The latest distribution was $0.471 per unit, with an ex-date of 8 October 2026, a record date of 2 October 2026 and a payment date of 20 October 2026. An annual yield of 4.37% is shown for the fund. Distributions are made monthly.

Who ISEC may suit

The fund may be of interest to investors who want short-dated, liquid exposure with a mandate that goes slightly beyond a plain bank bill index. It holds some securities from non-bank issuers such as Liberty Financial and ASX Ltd. The latest distribution was $0.471 per unit with an annual yield of 4.37% shown, and distributions are monthly.

Wrapping up

ISEC provides cash-weighted, short-dated exposure with a bank bill benchmark and a 0.12% fee. The summary above covers its allocation and distribution schedule, and further details are available through the fund announcements.