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BetaShares Global Banks Currency Hedged ETF (ASX: BNKS)

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Question asked 10/10/2026

BetaShares Global Banks Currency Hedged ETF (ASX: BNKS)

Hi guys, Appreciate your answers to my previous questions. Like many Aussie investors in search of better opportunities, I've been allocating funds to ASX listed ETFs with overseas exposure. One that has been sitting on my watch list is BNKS, which has had a phenomenal performance over the past three years. It recently dropped to $13.5, the lowest in three months. I believe the drop in price is associated to bond yields going up. What's your opinion of this ETF and could it be a better alternative for financials exposure in the portfolio, instead of our stagnant local banks? Obviously considering a growth oriented portfolio as opposed to one chasing yield. Is BNKS overvalued despite the current price drop? Thanks, Angela

Answer

Hi Angela,

For members not familiar with the BNKS ETF it provides a simple, currency-hedged way to gain exposure to the world’s major banks outside Australia, offering diversification away from the expensive, currently lacklustre and highly concentrated ASX banking sector. The ETF currently holds 78 global banks with 26% in US, 16% Canada, 11% Japan and 10% UK exposure at the pointy end of the exposure.

Largest individual holdings JP Morgan 7.8%, Bank of America 6%, Mitsubish 5%, HSBC 5%, and Royal Bank of Canada 4.9%.

The cost is 0.57% pa which we believe is reasonable for the spread of exposure, and FX hedging, especially considering performance: +17.6% YTD compared to the ASX Banking Sectors disappointing -5.3%, before dividends, over the same timeframe.

Obviously going into US reporting season volatility is to be expected but we are bullish towards the BNKS, believing it will both outperform the ASX banks, until further notice, and is on target to make new highs up towards $15 but note, as you say, with an estimated yield of ~2.8% pa, unfranked, it doesn’t stack up for yield compared to the ASX names.

MM is bullish towards the BNKS banks initially targeting ~$15, or 8-10% higher.

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BetaShares Global Banks hedged ETF (BNKS)

LAST UPDATED 07/10/2026 10:41

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