FLOT - VanEck Floating Rate Notes ETF | Australian Fixed Income | Index

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VanEck Vectors Australian Floating Rate ETF FLOT

Fund description: FLOT invests in a diversified portfolio of Australian dollar denominated Floating Rate Bonds with the aim of providing investment returns (before fees and costs) that closely track the returns of the Index.

Index description:  The Bloomberg AusBond Credit FRN 0+ Yr Index (BAFRN0) is a market value weighted index comprising floating rate bonds that are of investment grade quality. The index typically includes bonds issued by corporate entities such as the four largest banks in Australia, foreign banks, other lending institutions and Australian listed property trusts (A-REITs).

 as at 26-Oct-20

  • Exchange

    ASX
  • ASX code

    FLOT
  • Bloomberg index code

    BAFRN0
  • Index provider

    Bloomberg
  • NAV

    $25.13
  • Units outstanding

    11,262,745
  • Net assets

    $283.1M
  • Number of holdings

    188
  • Inception date1

    05-Jul-17
  • ASX commencement

    07-Jul-17

1The date the ETF was seeded prior to quotation on ASX.

as at 26-Oct-20

Key points

Underlying index:
The Bloomberg AusBond Credit FRN 0+ Yr Index (BAFRN0)

The Index comprises:
The Index is a market value weighted index comprising Floating Rate Bonds that are of Investment Grade quality. It typically includes Bonds issued by corporate entities such as the four largest banks in Australia, foreign banks, other lending institutions and Australian listed property trusts (A-REITs).
To be included in the Index a Floating Rate Bond issue must have a published Investment Grade Credit Rating from at least one of S&P, Moody’s or Fitch, a minimum outstanding face value of $100 million and a minimum of 1 month to maturity. The Bonds must also be issued in the Australian debt market under Australian law.

Index provider:
Bloomberg Finance L.P. BLOOMBERG and the Bloomberg Ausbond Credit FRN 0+ Yr Index (“the Index”) are trademarks or service marks of Bloomberg licensed to VanEck.

Index profile  

  • Bloomberg index code

    BAFRN0
  • Launch date

    31-Dec-98
  • Base date

    31-Dec-98
  • Rebalance frequency

    Monthly

Index fundamentals
as at 23-Oct-20

  • Effective duration

    0.13

Top ten index constituents (%) as at 30-Sep-20

Total constituents: 241
Constituent Name
Coupon
Maturity Weighting (%)
WESTPAC BANKING CORP
2.825
28-Oct-20 1.67
NATIONAL AUSTRALIA BANK
2.905
12-May-21 1.59
NATIONAL AUSTRALIA BANK
0.000
26-Sep-23 1.51
AUST & NZ BANKING GROUP
2.890
07-Apr-21 1.46
NATIONAL AUSTRALIA BANK
2.919
26-Feb-24 1.45
AUST & NZ BANKING GROUP
2.865
16-Aug-21 1.38
WESTPAC BANKING CORP
0.000
16-Nov-23 1.36
WESTPAC BANKING CORP
2.499
27-Oct-22 1.31
WESTPAC BANKING CORP
2.845
07-Feb-22 1.30
WESTPAC BANKING CORP
0.000
06-Mar-23 1.30
Top ten total (%) 14.33
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index country weightings (%) as of 30-Sep-20

  • Country

    Weightings (%)
  • Australia

    63.4
  • Canada

    10.0
  • Japan

    5.2
  • Switzerland

    3.9
  • China

    3.8
  • Singapore

    3.7
  • South Korea

    2.1
  • Netherlands

    1.6
  • Hong Kong

    1.1
  • Sweden

    1.1
  • United Kingdom

    1.1
  • France

    1.1
  • United States

    1.1
  • Uae

    0.3
  • Belgium

    0.2
  • Qatar

    0.1
  • Finland

    0.1
  • Germany

    0.1
  • Total

    100.0

Index sector weightings (%) as at 30-Sep-20

  • Sector

    Weightings (%)
  • Financial

    95.3
  • Government

    1.2
  • Utilities

    1.1
  • Industrial

    1.0
  • Communications

    0.5
  • Consumer, Non-cyclical

    0.5
  • Consumer, Cyclical

    0.4
  • Total

    100.0

Index credit quality (%) as at 30-Sep-20

Composite % of Net
Assets
Investment Grade AAA 8.86
AA 61.13
A 22.59
BBB 7.42
Total Investment Grade -- 100.00
Not Rated -- --
Composite Rating: An evenly weighted blend of a security's Moody's, S&P and Fitch. This composite is not intended to be a credit opinion.

Maturity (%) as at 30-Sep-20

Average Maturity: 2.06 Years