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).
Country of domicile: Australia
as at 22-Jan-21
-
Exchange
ASX -
ASX code
FLOT -
Bloomberg index code
BAFRN0 -
Index provider
Bloomberg -
NAV
$25.13 -
Units outstanding
11,222,909 -
Net assets
$282.0M -
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 22-Jan-21
-
Dividend frequency
Monthly -
Management costs p.a.
0.22% - Investment management team »
- Market Announcements
- FLOT Fact Sheet
- FLOT Fund Flyer
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 22-Jan-21
-
Effective duration
0.12
Top ten index constituents (%) as at 31-Dec-20
| Constituent Name |
Coupon
|
Maturity | Weighting (%) | |
|---|---|---|---|---|
| NATIONAL AUSTRALIA BANK |
2.905
|
12-May-21 | 1.63 | |
| NATIONAL AUSTRALIA BANK |
0.000
|
26-Sep-23 | 1.55 | |
| NATIONAL AUSTRALIA BANK |
2.919
|
26-Feb-24 | 1.49 | |
| AUST & NZ BANKING GROUP |
2.890
|
07-Apr-21 | 1.49 | |
| AUST & NZ BANKING GROUP |
2.865
|
16-Aug-21 | 1.41 | |
| WESTPAC BANKING CORP |
0.000
|
16-Nov-23 | 1.40 | |
| WESTPAC BANKING CORP |
2.499
|
27-Oct-22 | 1.35 | |
| WESTPAC BANKING CORP |
0.000
|
06-Mar-23 | 1.33 | |
| WESTPAC BANKING CORP |
2.845
|
07-Feb-22 | 1.33 | |
| COMMONWEALTH BANK AUST |
2.915
|
18-Jan-21 | 1.29 | |
| Top ten total (%) | 14.27 | |||
Index country weightings (%) as of 31-Dec-20
-
Country
Weightings (%) -
Australia
61.4 -
Canada
9.6 -
Japan
5.8 -
China
4.4 -
Singapore
4.2 -
Switzerland
4.0 -
South Korea
2.6 -
Netherlands
1.6 -
Sweden
1.2 -
United Kingdom
1.1 -
France
1.1 -
United States
1.1 -
Hong Kong
0.9 -
New Zealand
0.3 -
Uae
0.3 -
Belgium
0.2 -
Qatar
0.1 -
Finland
0.1 -
Germany
0.1 -
Total
100.1
Index sector weightings (%) as at 31-Dec-20
-
Sector
Weightings (%) -
Financial
94.9 -
Utilities
1.3 -
Government
1.2 -
Industrial
1.0 -
Communications
0.6 -
Consumer, Non-cyclical
0.6 -
Consumer, Cyclical
0.5 -
Total
100.1
Index credit quality (%) as at 31-Dec-20
| Composite | % of Net Assets |
|
|---|---|---|
| Investment Grade | AAA | 9.00 |
| AA | 59.85 | |
| A | 23.99 | |
| BBB | 7.15 | |
| Total Investment Grade | -- | 100.00 |
| Not Rated | -- | -- |
Maturity (%) as at 31-Dec-20
Average Maturity: 1.94 Years