Key Highlights

  • The fund tracks an iBoxx Australian fixed rate subordinated Investment grade Debt index.
  • Bonds make up 99.15 percent of the portfolio, with cash at 0.85 percent and no Equity holdings.
  • Australia accounts for 83.11 percent of geographic exposure, compared with 58.51 percent for the category.
  • Management fees and costs are 0.29 percent, and the units were quoted at $24.49 on 4 November 2026.

The VanEck Australian Fixed Rate Subordinated Debt ETF (ASX:FSUB) aims to track an index of Australian fixed rate subordinated debt securities, with investment grade Credit as its focus. On 4 November 2026 the units were quoted at $24.49, unchanged from the previous close, with 2,582 units traded. The fund was admitted on 12 December 2025 and sits in the Diversified Credit category.

Fund detail

Information

Ticker

ASX:FSUB

Benchmark

iBoxx AUD Fxd IG Sbrdntd Dbt Md P TR AUD

Category

Diversified Credit

Admitted

12 December 2025

Management fees and costs

0.29%

Units outstanding

Not reported on the listing

Total fund holdings

52 companies

Last price (4 November 2026)

$24.49

ISIN

AU0000432668

Fund objective and structure

The fund aims to provide investment returns before fees and other costs that track its reference index in Australian dollars. Its category is generally built around active credit selection, although this fund's stated objective is index tracking.

The portfolio holds 99.15 percent in bonds and 0.85 percent in cash. The listing does not report a fund size or annual Yield at the time of writing.

Geographic and issuer mix

Australia accounts for 83.11 percent of geographic exposure, against 58.51 percent for the category. The United Kingdom is 6.98 percent, France 7.27 percent and South Korea 1.04 percent. The Netherlands and Spain are smaller allocations.

The top holdings are subordinated debt securities issued by major Australian banks, including Commonwealth Bank of Australia, ANZ, Westpac and National Australia Bank.

Concentration of holdings

The ten largest holdings make up 38.92 percent of the fund, with the remaining 61.08 percent spread across 52 holdings in total. Several top holdings are issued by the same banks at different maturities.

The listing shows no turnover ratio, and the sector and Market Capitalisation breakdowns are not applicable to a bond fund.

Final Word

The fund concentrates its exposure in subordinated bank debt, with most of its Assets in Australia and a meaningful share in European issuers. Its 0.29 percent fee and index-based design are the main structural features readers can compare with the fund's stated investment objective.