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Fund size
$397.1M
OCT 2026
Total cost ratio
0.48%
per year
Distributions
Semi-Annually
Since inception
6.7 yrs
MAR 2020
In seeking to achieve the investment objective, the Respinsible Entity will employ a passive management approach with the aim of tracking the performace of the index, before fees and expenses. The fund will generally seek to invest in the securities that comprise the index in proportion to the weightings of the securities in the index. This is known as a 'full replication' strategy.
US equity 6.70%Non-US equity 92.35%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 99.06 | 99.06 | — |
| Bond | 0.00 | 0.00 | — |
| Cash | 0.00 | 0.00 | — |
| Other | 0.94 | 0.94 | — |
Cyclical 10.96%Sensitive 77.86%Defensive 11.18%
Developed markets 100.00%Emerging markets 0.00%
Size score
163
Value-growth score
295
Economic moat
Narrow 62%None 19%Wide 19%
Large 26%Mid 60%Small 9%Micro 6%
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Computershare Ltd CPU | 10.52 | MAR 2020 | 57.7M | AUD | 1.4M | Financial Services | Australia | |
| Xero Ltd XRO | 8.05 | MAR 2020 | 44.2M | AUD | 776,197 | Technology | Australia | |
| Pro Medicus Ltd PME | 7.96 | MAR 2020 | 43.7M | AUD | 266,598 | Healthcare | Australia | |
| CAR Group Ltd CAR | 7.44 | MAR 2020 | 40.8M | AUD | 1.8M | Communication Services | Australia | |
| Codan Ltd CDA | 7.35 | MAR 2020 | 40.4M | AUD | 613,000 | Technology | Australia | |
| Technology One Ltd TNE | 7.30 | MAR 2020 | 40.1M | AUD | 1.4M | Technology | Australia | |
| Nextdc Ltd NXT | 7.23 | MAR 2020 | 39.7M | AUD | 3.7M | Technology | Australia | |
| REA Group Ltd REA | 6.87 | MAR 2020 | 37.7M | AUD | 239,432 | Communication Services | Australia | |
| WiseTech Global Ltd WTC | 6.23 | MAR 2020 | 34.2M | AUD | 1.1M | Technology | Australia | |
| Megaport Ltd MP1 | 4.28 | MAR 2020 | 23.5M | AUD | 1.1M | Technology | Australia |
Fund (NAV) Market price
1M
-11.4
3M
-6.9
6M
12.0
YTD
-13.3
1Y
-30.0
3Y
7.5
5Y
-2.1
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -11.45 | -12.96 | -11.41 | — |
| 3 months | -6.91 | -6.84 | -6.80 | — |
| 6 months | 11.97 | 12.41 | 12.24 | — |
| Year to date | -13.27 | -12.98 | -12.96 | — |
| 1 year | -29.95 | -29.84 | -29.62 | — |
| 3 years p.a. | 7.52 | 7.60 | 8.03 | — |
| 5 years p.a. | -2.13 | -2.02 | -1.66 | — |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Total Capital
2021
4.1
2022
-33.5
2023
39.4
2024
41.2
2025
-9.6
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | -9.61 | -12.69 | — |
| 2024 | 41.18 | 41.25 | — |
| 2023 | 39.43 | 34.56 | — |
| 2022 | -33.49 | -32.73 | — |
| 2021 | 4.06 | 1.04 | — |
FY21
39.6
FY22
-35.7
FY23
28.3
FY24
30.7
FY25
29.5
FY26
-24.6
| Financial year | Total % |
|---|---|
| Financial year to date | -7.30 |
| Year to 30 JUN 2026 | -24.58 |
| Year to 30 JUN 2025 | 29.47 |
| Year to 30 JUN 2024 | 30.65 |
| Year to 30 JUN 2023 | 28.28 |
| Year to 30 JUN 2022 | -35.70 |
| Year to 30 JUN 2021 | 39.59 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -40.65 | -7.19 | -8.75 | — |
| Beta | 0.88 | 1.42 | 1.41 | — |
| R-squared | 13.77 | 39.81 | 49.55 | — |
| Standard deviation | 28.29 | 27.50 | 29.78 | — |
| Sharpe ratio | -1.69 | 0.16 | -0.04 | — |
| Sortino ratio | -1.58 | 0.04 | -0.27 | — |
| Tracking error | 22.48 | 19.02 | 18.20 | — |
| Information ratio | -1.68 | -0.35 | -0.49 | — |
| Upside capture % | -80.49 | 116.00 | 108.50 | — |
| Downside capture % | 217.60 | 185.82 | 173.38 | — |
| Maximum drawdown % | -40.28 | -40.28 | -40.28 | — |
Measured against S&P/ASX 200 TR AUD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Risk score
118.6
Morningstar Portfolio Risk Score at 30 SEP 2026.
2024
0.7
2023
0.1
2022
0.1
2021
0.1
2020
0.7
2019
0.3
| Year | Per unit ($) |
|---|---|
| 2024 | 0.6711 |
| 2023 | 0.1347 |
| 2022 | 0.1221 |
| 2021 | 0.0790 |
| 2020 | 0.6699 |
| 2019 | 0.2705 |
| Ex Date | Per unit ($) |
|---|---|
| 1 JUL 2026 | 0.3521 |
| 2 JAN 2026 | 0.0605 |
| 1 JUL 2025 | 0.6213 |
| 2 JAN 2025 | 0.0498 |
| 1 JUL 2024 | 0.0607 |
| 2 JAN 2024 | 0.0740 |
| 3 JUL 2023 | 0.0555 |
| 3 JAN 2023 | 0.0666 |
| 1 JUL 2022 | 0.0517 |
| 4 JAN 2022 | 0.0272 |
| 1 JUL 2021 | 0.6699 |
| 1 JUL 2020 | 0.2705 |
High
ESG risk score
18.40
Category average 22.16
0.00% of assets are in companies with high or severe controversies.
Carbon risk score
3.64
Category average 11.57
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
The closest comparison to the IGV ETF traded on the ASX is the ATEC ETF, but we don’t feel it's a good vehicle to invest in for a turn in the local software sector, as can be seen by the comparison in the chart below. We discussed how we like the ASX marketplace stocks in yesterday's report here, and this morning we’ve picked out two local software stocks that are showing signs of improving into Christmas.
ATEC offers diversified exposure to Australia's beaten-up technology sector - at the moment, the 5 largest holdings are Computershare (11%), Xero (10%), NEXTDC (8%), CAR Group (8%), and Pro Medicus (8%). Computershare (CPU) wouldn’t be our top pick for a recovery in the space, but the balance of the ETF is on point.
ATEC offers diversified exposure to Australia's beaten-up technology sector. If our SaaSurrection thesis plays out, the ETF provides a simple way to participate in the recovery without having to pick the individual winners. With the current market mood improving towards software stocks, we’re bullish at current levels, but individual companies will need to demonstrate ongoing strong moats to AI Disruption.
ATEC offers broad exposure to Australia's listed technology sector, with its largest 5 holdings currently Computershare, NEXTDC, Xero, CAR Group and TechnologyOne. If our SaaSurrection thesis proves correct, the ETF provides a straightforward way to gain exposure to a sector recovery without having to identify the individual winners.
It would have been easy this week to stand on the sidelines but instead we’ve laid a trap per se, in line with our view that the “AI Disruption” trade is going too far but downside momentum remains - note we may pay up if not filled early this week.
The Budget was taken very negatively in terms of AI and tech development, the biggest transformation and opportunity of our generation. Google alone is estimated to be spending 500x times more on AI than the Australian government, and while the government isn’t a corporation in search of profit, it should be doing everything in its power to attract such investment and R&D to our shores, not effectively discourage it.
The BetaShares Australian Technology ETF (ATEC) offers exposure to Australia’s leading tech and platform businesses, currently with 45 holdings, and a cost of 0.48% pa. The ETF holds most names subscribers would expect although Computershare (ASX:CPU) is the largest holding followed by Xero Ltd (ASX:XRO), NEXTDC (ASX:NXT) etc.
As we looked at earlier, the NASDAQ is experiencing a constructive pullback with none of the volatility being experienced across many indices courtesy of the conflict. However, the ASX tech space has endured a far harder time, with most of the major players being caught up in the “AI Disruption Trade” and, in true “If the Dow sneezes, we catch a cold” fashion, the local stocks have been battered since late 2025.
The local software stocks sold off sharply on Thursday ending the session down 3.5% after previously bouncing from panic “AI Disruption” lows in late February. The battered sector, both here and in the US, has been following our roadmap in recent weeks; hence, at this stage, we are remaining patient about increasing our exposure to the battered names, but as we’ve touched on a few times in recent weeks, we do expect to press the Buy Button (s) in the not too distant future.
This ASX-traded ETF is made up of the large-cap ASX tech names, such as CAR Group, Wisetech, Xero, Pro Medicus, et al. hence if MM is correct and the local software names will bottom/bounce first in the coming weeks/months, the ATEC ETF is worth monitoring.
MM is cautiously bullish towards the ATEC ETF
MM is neutral towards the ATEC ETF around $21
MM is cautiously bullish towards the ASX industrials as a sector
MM is cautiously bullish towards the ASX Tech sector
MM is bullish towards the ATEC ETF around $22
MM is bullish towards the ATEC ETF around $23
MM is bullish towards the ASX & S&P 500 Software Indices through 2026
Trade Idea: Buy the BetaShares Australian Tech ETF (ATEC) at $18.40, with initial stops at $16.90 , around 8% risk
MM is now neutral towards the ATEC ETF around $20.50
MM is cautiously bullish towards the ATEC ETF around $21.70
BetaShares ASX200 IT ETF (ATEC) is an ETF incorporated in Australia that aims to track the performance of the ASX200 Technology Index (before fees and expenses). The Index provides exposure to leading ASX-listed companies in a range of tech-related market segments such as information technology, consumer electronics, online retail and medical technology.
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