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Fund size
$1.30B
NOV 2026
Total cost ratio
0.25%
per year
Distributions
Monthly
Since inception
8.4 yrs
MAY 2018
In seeking to achieve the investment objective, the Responsible Entity will employ a passive management approach designed to track the performance 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.
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | — |
| Bond | 99.48 | 99.48 | — |
| Cash | 0.52 | 0.52 | — |
| Other | 0.00 | 0.00 | — |
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Emirates NBD Bank PJSC 5.913% | 2.68 | — | 49.8M | AUD | 51.3M | — | United Arab Emirates | |
| Stockland Trust Management Ltd. 5.346% | 2.18 | — | 40.4M | AUD | 43.8M | — | Australia | |
| E.ON SE 5.461% | 2.10 | — | 39.0M | AUD | 41.5M | — | Germany | |
| Energie Baden-Wurttemberg International Finance BV 6.048% | 2.09 | — | 38.8M | AUD | 39.3M | — | Germany | |
| Aroundtown SA 6.65% | 2.08 | — | 38.7M | AUD | 40.0M | — | Germany | |
| Scentre Group Trust 1 5.9% | 2.08 | — | 38.6M | AUD | 39.5M | — | Australia | |
| CDC Data Centres Australia Pty Ltd. 6.631% | 2.05 | — | 38.1M | AUD | 38.3M | — | Australia | |
| Patrick Terminals Finance Pty Ltd 5.549% | 2.05 | — | 38.1M | AUD | 40.5M | — | Australia | |
| Metropolitan Life Global Funding I 6.3188% | 2.04 | — | 37.9M | AUD | 37.9M | — | United States | |
| Sse PLC 6.3% | 2.03 | — | 37.7M | AUD | 38.1M | — | United Kingdom |
Fund (NAV) Market price
1M
2.4
3M
-0.3
6M
0.1
YTD
6.9
1Y
7.0
3Y
11.1
5Y
0.7
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 2.40 | 2.13 | 2.42 | 85 / 133 |
| 3 months | -0.33 | -0.46 | -0.26 | 87 / 129 |
| 6 months | 0.07 | -0.09 | 0.20 | 82 / 128 |
| Year to date | 6.85 | 6.68 | 7.08 | 83 / 127 |
| 1 year | 6.95 | 6.77 | 7.22 | 96 / 120 |
| 3 years p.a. | 11.09 | 10.86 | 11.36 | 34 / 92 |
| 5 years p.a. | 0.71 | 0.51 | 0.96 | 86 / 78 |
Returns to 31 OCT 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
2019
10.5
2020
8.3
2021
-3.1
2022
-16.1
2023
14.6
2024
6.5
2025
6.2
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | 6.17 | 0.17 | 66 / 117 |
| 2024 | 6.54 | 2.11 | 27 / 99 |
| 2023 | 14.57 | 6.29 | 1 / 103 |
| 2022 | -16.07 | -17.92 | 88 / 108 |
| 2021 | -3.13 | -8.07 | 100 / 106 |
| 2020 | 8.28 | 3.17 | 5 / 97 |
| 2019 | 10.46 | 8.01 | 4 / 90 |
FY19
12.4
FY20
3.8
FY21
4.7
FY22
-16.4
FY23
4.3
FY24
8.8
FY25
9.9
FY26
2.7
| Financial year | Total % |
|---|---|
| Financial year to date | -1.04 |
| Year to 30 JUN 2026 | 2.71 |
| Year to 30 JUN 2025 | 9.94 |
| Year to 30 JUN 2024 | 8.81 |
| Year to 30 JUN 2023 | 4.28 |
| Year to 30 JUN 2022 | -16.38 |
| Year to 30 JUN 2021 | 4.70 |
| Year to 30 JUN 2020 | 3.76 |
| Year to 30 JUN 2019 | 12.45 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -1.07 | 1.66 | 1.61 | — |
| Beta | 0.90 | 0.85 | 0.86 | — |
| R-squared | 66.15 | 77.11 | 70.29 | — |
| Standard deviation | 12.47 | 12.00 | 13.73 | — |
| Sharpe ratio | -0.96 | 0.67 | -0.15 | — |
| Sortino ratio | -1.14 | 1.03 | -0.30 | — |
| Tracking error | 2.71 | 2.41 | 3.71 | — |
| Information ratio | -0.26 | 0.67 | 0.60 | — |
| Upside capture % | 84.96 | 98.96 | 98.96 | — |
| Downside capture % | 96.25 | 62.82 | 73.87 | — |
| Maximum drawdown % | -2.65 | -2.65 | -16.88 | — |
Measured against Bloomberg Gbl Agg Corp TR Hdg AUD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 31 OCT 2026. Maximum drawdown is on gross returns at the latest quarter end.
Risk score
27.7
Morningstar Portfolio Risk Score at 30 SEP 2026.
2024
1.1
2023
1.1
2022
1.0
2021
0.8
2020
1.3
2019
1.2
2018
0.9
2017
0.5
| Year | Per unit ($) |
|---|---|
| 2024 | 1.1398 |
| 2023 | 1.1002 |
| 2022 | 1.0276 |
| 2021 | 0.8235 |
| 2020 | 1.3351 |
| 2019 | 1.2112 |
| 2018 | 0.9169 |
| 2017 | 0.4642 |
| Ex Date | Per unit ($) |
|---|---|
| 2 NOV 2026 | 0.1152 |
| 1 OCT 2026 | 0.1107 |
| 1 SEP 2026 | 0.1125 |
| 3 AUG 2026 | 0.1142 |
| 1 JUL 2026 | 0.1080 |
| 1 JUN 2026 | 0.0968 |
| 1 MAY 2026 | 0.0997 |
| 1 APR 2026 | 0.1057 |
| 2 MAR 2026 | 0.0916 |
| 2 FEB 2026 | 0.1079 |
| 2 JAN 2026 | 0.1072 |
| 1 DEC 2025 | 0.0880 |
Below Average
ESG risk score
18.10
0.01% of assets are in companies with high or severe controversies.
Carbon risk score
9.37
Category average 8.56
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
CRED is a ~$1.8bn ASX-listed ETF investing in investment-grade Australian corporate bonds, designed to deliver higher income (currently ~5.1%) than government bond funds, with 100% of the portfolio in fixed rate debt.
On Friday night we saw that US nonfarm payrolls had fallen by 92,000 last month, one of the largest declines since the pandemic, with job losses spread across a broad range of industries. The unemployment rate ticked up to 4.4%, raising fresh questions about the strength of the labour market.
We are reducing Australian equities and increasing fixed income
The CRED ETF provides exposure to a portfolio of senior, fixed-rate, investment-grade Australian corporate bonds. It offers investors monthly distributions while charging an annual management fee of 0.25%. We view this as a solid security for income-conscious investors, with a running yield of 5.05% and an average credit rating of BBB+ (Investment Grade).
We have written several times recently about the quantum of interest rate cuts already priced into the market, with nearly 200bps of cuts factored into the US over the next year and 100bps locally. We think this could be ‘as good as it gets’ unless we see a sharper economic contraction
MM is long & bullish towards the CRED ETF
MM is neutral towards the 3s around 4.5%
MM remains neutral towards the Australian 3s around 4.20%.
MM is adding to CRED in the Core ETF Portfolio, targeting a 15% portfolio weight around $23.15
MM are buying CRED in the Core ETF Portfolio, allocating 10% around $23.50
MM is positive on the CRED ETF
MM is neutral CRED
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