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.
  • Betashares Nasdaq 100 Yield Maximiser Complex ETF (ASX:QMAX) is benchmarked to the NASDAQ 100 AUD index, with technology at 58.78%.
  • Muzinich BDC Income Fund - Active ETF (ASX:BDCI) holds 24 US-listed business development companies and pays monthly distributions.

Three exchange traded funds are built around regular distributions: Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX), Betashares Nasdaq 100 Yield Maximiser Complex ETF (ASX:QMAX) and Muzinich BDC Income Fund - Active ETF (ASX:BDCI). UMAX and QMAX are complex ETFs linked to the S&P 500 and the Nasdaq 100 respectively, while BDCI invests in US-listed business development companies that lend to middle market companies.

Betashares S&P 500 Yield Maximiser Complex ETF (ASX:UMAX)

The S&P 500 Index tracks 500 large capitalisation U.S. equities. The fund also aims to provide the potential for some capital growth and lower overall volatility than the index. It is classified as a complex ETF and is benchmarked to the S&P 500 TR AUD index.

The portfolio is held through a single investment, iShares Core S&P 500 ETF (IVV), which represents 100.00% of the fund.

By sector, the portfolio is allocated as follows: Technology 38.69%, Financial Services 12.07%, Communication Services 9.50%, Consumer Cyclical 9.31%, Healthcare 9.28%, Industrials 7.75%, Consumer Defensive 4.46%, Energy 3.48%.

The most recent recorded distribution was a 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.

Betashares Nasdaq 100 Yield Maximiser Complex ETF (ASX:QMAX)

The fund's name identifies it as a Yield Maximiser product, and it is classed as a complex ETF. Its announcements include a monthly notional derivatives exposure report, lodged for September 2026 on 2 October 2026, which indicates derivatives form part of the fund's structure.

By sector, the portfolio is allocated as follows: Technology 58.78%, Communication Services 12.93%, Consumer Cyclical 11.13%, Consumer Defensive 6.35%, Healthcare 3.96%, Industrials 3.95%, Utilities 1.15%, Basic Materials 1.00%.

In terms of asset allocation, stocks make up 99.89% of the portfolio and cash 0.10%. By size, 100% of the portfolio is in companies above $1 billion in market capitalisation. Geographic exposure is United States (97.29%), Canada (0.93%), the Netherlands (0.88%), Brazil (0.43%), China (0.25%) and the United Kingdom (0.22%).

The most recent recorded distribution was a monthly distribution of $0.166 per unit for October 2026.

Muzinich BDC Income Fund - Active ETF (ASX:BDCI)

The fund's portfolio typically comprises 20 to 45 BDCs, providing exposure to a wide range of US middle market private debt with diversification across managers, sectors and credit ratings. It currently holds 24 companies, all in the financial services sector and all based in the United States.

The fund holds 24 holdings. Its largest positions are Ares Capital Corp (13.47%), Golub Capital BDC Inc (9.88%), Main Street Capital Corp (8.71%), Blackstone Secured Lending Fund (8.21%), Hercules Capital, Inc. (7.42%), and the top ten holdings together account for 70.37% of the portfolio.

The remaining top ten positions are Sixth Street Specialty Lending, Inc. (6.21%), Morgan Stanley Direct Lending Fund (4.49%), Capital Southwest Corp (4.26%), Bain Capital Specialty Finance Inc (4.01%), Blue Owl Capital Corp (3.65%).

The most recent recorded distribution was a interim distribution of $0.170 per unit, with an ex-date of 1 October 2026, a record date of 2 October 2026 and payment on 20 October 2026.

Fund Details at a Glance

  • UMAX: Equity North America; benchmark S&P 500 TR AUD; admitted 19 September 2014; fund size $327.14 million; management fee 0.79%
  • QMAX: Equity North America; benchmark NASDAQ 100 AUD; admitted 7 October 2022; fund size $44.63 million
  • BDCI: Alternative - Private Debt; benchmark S&P BDC PR USD; admitted 1 April 2026; management fee 0.95%

Wrapping Up

UMAX, QMAX and BDCI each pair a US market or private debt exposure with a regular distribution schedule. UMAX's most recent distribution was $0.104 per unit (paid 16 October 2026), QMAX recorded $0.166 per unit for October 2026 and BDCI paid $0.170 per unit on 20 October 2026.