US Treasury Bond ETF (Currency Hedged) (USTB) – Global X ETFs Australia
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USTB

US Treasury Bond ETF (Currency Hedged)

Invest in USTB
Overview Performance Holdings & Characteristics Research Documents Announcements FAQs

Reasons to Consider USTB

Diversification

Exposure to US Treasuries ranging from 1-30 year maturities.

Competitive Cost

At a 0.19% management fee, USTB offers access to US Treasuries via the ASX at a competitive cost.

Alternative Income Source

USTB seeks to generate income while mitigating risk.

Product Information As of 7 Dec 2023

Inception Date 1 Jul 2022
Management Costs (% p.a.) 0.19
Currency Hedged Yes
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 7 Dec 2023

NAV/Unit (A$) 9.27570000
Currency (NAV) AUD
Shares Outstanding 74,356,076
AUM (A$) 689,707,783.10

Product Summary

The Global X US Treasury Bond ETF (Currency Hedged) (USTB) invests in US Treasuries across the yield curve while providing currency hedging.

Product Objective

The Global X US Treasury Bond ETF (Currency Hedged) (USTB) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the iBoxx $ Treasuries Index (AUD Hedged).

Trading Details

Ticker USTB
Bloomberg Code USTB AU Equity
ISIN AU0000227712
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited

Benchmark Information

Benchmark iBoxx $ Treasuries Index (AUD Hedged)
Provider IHS Markit
Ticker IBXXTRA2

Distributions As of 31 Oct 2023

12-Month Yield 2.32%
12-Month Franking Level 0.00%
Distribution Frequency Quarterly
Distribution History View

Portfolio Characteristics As of 7 Dec 2023

Current Yield (%) 2.82
Yield to Maturity (%) 4.33
Average Maturity (Yrs) 8.05
Modified Duration (%) 6.19
Moody’s Credit Rating Aaa

Performance Table As of 7 Dec 2023

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month 2.90% 2.86% 0.03% 0.06%
3 Months 1.62% 1.59% 0.03% 0.10%
1 Year -2.20% -2.20% -- 1.90%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. -3.40% -3.49% 0.09% 1.69%

Top Holdings As of 8 Dec 2023

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
0.84 T 3 7/8 08/15/33 BRT3QG6 97.73 39,315 5,829,402
0.78 T 1 5/8 05/15/31 BMHV4S5 84.03 42,442 5,410,701
0.78 T 4 1/8 11/15/32 BQXS7B2 99.63 35,718 5,398,480
0.78 T 1 1/8 02/15/31 BM9WFM7 81.70 43,389 5,378,203
0.76 T 3 1/2 02/15/33 BQXLPX9 94.94 36,474 5,253,375
0.74 T 1 3/8 11/15/31 BMCNFW7 81.34 41,659 5,140,978
0.74 T 3 3/8 05/15/33 BQYLTK3 93.92 36,074 5,140,138
0.73 T 2 7/8 05/15/32 BPSLLY0 90.84 36,793 5,070,834
0.73 T 0 7/8 11/15/30 BN7JWT3 80.50 41,351 5,050,114
0.73 T 2 3/4 08/15/32 BQHM4D1 89.69 37,082 5,045,598
0.72 T 1 7/8 02/15/32 BM96PV8 84.25 39,040 4,989,969
0.67 T 0 5/8 08/15/30 BMDNWC5 79.45 38,335 4,620,871
0.58 T 0 5/8 05/15/30 BMHCRF6 80.12 33,203 4,035,655
0.57 T 3 1/8 11/15/28 BGRW840 95.30 27,449 3,968,711
0.56 T 2 7/8 08/15/28 BFZLQP9 94.41 26,762 3,833,010
0.55 T 2 3/8 05/15/29 BK1WFV0 91.32 27,477 3,806,775
0.54 T 1 5/8 08/15/29 BK9DLB7 87.45 27,912 3,703,226
0.53 T 2 5/8 02/15/29 BJ7G9F1 92.72 26,094 3,670,435
0.51 T 2 1/8 05/15/25 BXC4FY9 96.22 24,180 3,529,605
0.51 T 2 08/15/25 BYS2RD7 95.60 24,312 3,526,218
0.51 T 1 1/2 02/15/30 BK8ZZ12 85.52 27,274 3,538,810
0.51 T 2 1/4 11/15/25 BYQ26R6 95.66 24,268 3,521,968
0.51 T 2 7/8 05/15/28 BD59D36 94.63 24,580 3,528,950
0.51 T 1 3/4 11/15/29 BKVKB83 87.70 26,423 3,515,719
0.50 T 1 1/4 08/15/31 BMWVP09 81.06 27,933 3,435,231
0.49 T 2 3/4 02/15/28 BG0D0D3 94.38 23,411 3,351,932
0.48 T 2 02/15/25 BVVT3Q9 96.55 22,682 3,322,437
0.48 T 1 5/8 05/15/26 BYZ2XV0 93.56 23,390 3,320,121
0.48 T 1 5/8 02/15/26 BD2C0G0 94.02 23,262 3,318,106
0.48 T 4 1/8 08/15/53 BRT3QH7 97.55 22,470 3,325,346
0.48 T 2 3/8 05/15/27 BF0T9Y8 93.96 23,181 3,304,447
0.47 T 0 3/4 03/31/26 BMDNPN7 91.98 23,443 3,271,187
0.47 T 0 3/4 08/31/26 BN4FTY8 90.78 23,477 3,233,359
0.47 T 0 5/8 07/31/26 BMD9ZB3 90.70 23,479 3,230,897
0.47 T 1 1/2 08/15/26 BDH26G7 92.73 22,833 3,212,370
0.46 T 1 1/4 03/31/28 BMDNPR1 88.43 23,915 3,208,366
0.46 T 1 1/4 06/30/28 BMBYXD8 87.87 24,006 3,200,127
0.46 T 1 1/4 05/31/28 BM9BQW1 88.05 23,870 3,188,496
0.46 T 2 1/4 11/15/27 BF92XX5 92.85 22,569 3,179,202
0.46 T 2 1/4 02/15/27 BYPG9T2 93.96 22,174 3,160,931
0.46 T 2 1/4 08/15/27 BF53YJ5 93.22 22,343 3,159,791
0.45 T 2 11/15/26 BZ1BP78 93.63 21,957 3,118,731
0.45 T 0 3/4 04/30/26 BMDV7M4 91.69 22,292 3,100,874
0.45 T 0 3/4 01/31/28 BMZ2XM7 86.92 23,369 3,081,666
0.45 T 1 3/8 10/31/28 BN7DP74 87.66 23,137 3,077,136
0.45 T 4 3/8 11/30/28 BNTC728 101.06 20,064 3,076,217
0.44 T 2 1/4 05/15/41 BMCXZ94 73.22 27,651 3,071,473
0.44 T 1 1/8 08/31/28 BN4FTZ9 86.95 23,105 3,047,972
0.44 T 4 7/8 10/31/28 BMWPXZ2 103.14 19,371 3,031,035
0.44 T 0 3/4 05/31/26 BM9BQT8 91.45 21,788 3,022,989
0.44 T 1 7/8 11/15/51 BMCNFZ0 60.75 32,848 3,027,388
0.44 T 4 7/8 11/30/25 BNTC739 100.52 19,675 3,000,261
0.43 T 1 1/8 02/29/28 BLKH0Y1 88.13 22,394 2,994,253
0.43 T 1 1/4 12/31/26 BPP1JT4 91.38 21,437 2,971,710
0.43 T 1 1/4 04/30/28 BLPKDT1 88.23 22,128 2,962,096
0.43 T 0 7/8 06/30/26 BMBYXC7 91.63 21,223 2,950,156
0.43 T 0 1/2 02/28/26 BLKH0X0 91.60 21,159 2,940,486
0.43 T 0 3/8 01/31/26 BMZ2XK5 91.57 21,155 2,938,874
0.43 T 1 07/31/28 BMD9ZD5 86.63 22,405 2,944,729
0.43 T 1 1/4 09/30/28 BMCV844 87.30 22,208 2,941,180
0.42 T 0 3/8 11/30/25 BLH34N9 92.09 20,950 2,927,024
0.42 T 0 7/8 09/30/26 BMCV833 90.98 21,128 2,916,077
0.42 T 3 5/8 05/15/53 BQYLTM5 89.16 21,585 2,919,510
0.42 T 2 3/8 05/15/51 BMHV4V8 68.69 27,962 2,913,847
0.42 T 1 7/8 02/28/27 BP94LV5 92.75 20,576 2,895,244
0.42 T 1 1/8 10/31/26 BN7DP63 91.34 20,875 2,892,596
0.42 T 0 3/8 12/31/25 BNNXCK0 91.88 20,705 2,885,952
0.42 T 0 5/8 12/31/27 BNNXCL1 86.68 21,986 2,891,248
0.42 T 1 3/8 12/31/28 BPP1JW7 87.29 21,809 2,888,119
0.42 T 1 1/2 01/31/27 BKMH699 91.84 20,655 2,877,709
0.42 T 1 1/4 11/30/26 BP39M24 91.47 20,718 2,874,946
0.42 T 3 5/8 02/15/53 BQXLPR3 89.03 21,383 2,888,225
0.42 T 4 11/15/52 BQXS7C3 95.28 19,939 2,882,184
0.41 T 4 5/8 09/30/28 BMX7M72 101.99 18,478 2,859,105
0.41 T 1 1/2 11/30/28 BP39M35 88.05 21,403 2,858,966
0.41 T 1 7/8 02/15/41 BMT9GQ9 69.02 27,377 2,866,436
0.41 T 2 1/2 03/31/27 BPRT3V6 94.59 19,803 2,841,867
0.40 T 5 10/31/25 BMWPY04 100.65 18,247 2,786,297
0.40 T 1 3/4 01/31/29 BN95VM5 88.85 20,668 2,785,991
0.40 T 0 5/8 11/30/27 BLH34Q2 86.91 20,907 2,756,763
0.40 T 4 5/8 11/15/26 BRBS4G5 100.77 18,002 2,751,972
0.39 T 1 3/4 03/15/25 BP96166 96.10 18,630 2,716,035
0.39 T 1 1/8 01/15/25 BP82NF8 95.83 18,650 2,711,347
0.39 T 3 1/4 06/30/27 BQC7W15 96.70 18,484 2,711,610
0.39 T 4 5/8 02/15/40 B3M3870 103.11 17,314 2,708,317
0.39 T 1 3/8 11/15/40 BNG0BM3 63.53 28,121 2,710,399
0.39 T 0 1/4 10/31/25 BMYVTV6 92.12 19,236 2,688,421
0.39 T 1 12/15/24 BP6NM34 95.97 18,331 2,669,008
0.39 T 2 3/4 04/30/27 BQ2GVM6 95.22 18,531 2,676,864
0.39 T 4 3/8 08/31/28 BMGC3Q0 100.91 17,440 2,669,959
0.38 T 4 5/8 10/15/26 BRWHW78 100.72 17,367 2,653,670
0.38 T 0 1/4 09/30/25 BMT6SJ7 92.39 18,894 2,648,262
0.38 T 1 1/2 02/15/25 BM96PT6 95.98 18,099 2,635,543
0.38 T 1 3/4 08/15/41 BLDBLR0 66.78 26,176 2,652,015
0.38 T 2 5/8 04/15/25 BNGDFD1 97.04 17,887 2,633,448
0.38 T 0 1/4 07/31/25 BMXXZ93 92.94 18,632 2,627,052
0.38 T 5 09/30/25 BMX7M61 100.56 17,228 2,628,281
0.38 T 2 5/8 05/31/27 BK93979 94.71 18,041 2,592,228
0.38 T 3 08/15/52 BQHM4F3 78.80 21,768 2,602,198
0.37 T 0 1/4 06/30/25 BL5BXQ1 93.23 18,242 2,580,032
0.37 T 2 3/4 05/15/25 BPSLLX9 97.09 17,490 2,576,347
0.37 T 4 3/4 02/15/41 B3RFGR7 104.20 16,277 2,573,215
0.37 T 4 5/8 09/15/26 BP5X257 100.68 16,601 2,535,642
0.37 T 1 7/8 02/28/29 BP94LT3 89.27 18,755 2,539,842
0.37 T 4 5/8 06/30/25 BQXV164 99.76 16,649 2,519,740
0.37 T 4 1/8 07/31/28 BNTDWZ9 99.80 16,677 2,525,101
0.37 T 4 1/8 09/30/27 BN6ML41 99.59 16,685 2,520,857
0.37 T 0 1/4 08/31/25 BMV9TX5 92.65 17,881 2,513,354
0.36 T 4 5/8 02/28/25 BMTY6G4 99.59 16,520 2,496,123
0.36 T 2 3/4 07/31/27 BQ7Y9P4 94.93 17,376 2,502,462
0.36 T 4 1/8 10/31/27 BNTVWV9 99.59 16,503 2,493,253
0.36 T 2 08/15/51 BMWVP21 62.77 26,293 2,503,641
0.36 T 1 7/8 02/15/51 BM9WFN8 60.92 27,030 2,498,237
0.36 T 4 1/4 11/15/40 B5M0864 98.19 16,634 2,477,820
0.36 T 4 02/29/28 BMTY6H5 99.20 16,381 2,465,402
0.36 T 4 3/8 05/15/41 BYQLV12 99.55 16,287 2,459,702
0.35 T 4 3/8 11/15/39 B59RHH2 100.36 16,024 2,439,809
0.35 T 0 1/2 10/31/27 BMYVTX8 86.70 18,483 2,431,007
0.35 T 4 3/4 07/31/25 BNTDWY8 100.00 15,992 2,426,138
0.35 T 4 3/8 08/15/26 BRT3QF5 99.97 15,964 2,421,114
0.35 T 3 07/15/25 BMQ53Q9 97.29 16,381 2,417,874
0.35 T 5 08/31/25 BMGC3P9 100.48 15,864 2,418,322
0.35 T 4 3/8 05/15/40 B3TCBS2 99.92 15,991 2,424,151
0.35 T 2 7/8 05/15/52 BPSLLZ1 76.78 20,844 2,427,989
0.35 T 1 1/8 08/15/40 BKVKF47 61.05 26,154 2,422,211
0.35 T 0 1/4 05/31/25 BLB6SL0 93.50 16,934 2,402,204
0.35 T 3 7/8 03/31/25 BRPT259 98.68 15,930 2,384,728
0.35 T 4 1/2 11/15/33 BRBS4K9 102.81 15,346 2,393,558
0.35 T 3 7/8 04/30/25 BMDLR13 98.65 15,885 2,377,289
0.34 T 2 1/4 02/15/52 BM96PW9 66.72 23,625 2,391,320
0.34 T 2 7/8 04/30/29 BQ2GVL5 93.72 16,728 2,378,440
0.34 T 0 3/8 09/30/27 BMT6SK8 86.52 18,070 2,371,765
0.34 T 3 1/8 08/15/25 BQHM4C0 97.42 15,989 2,363,137
0.34 T 4 1/8 01/31/25 BL6BW29 99.02 15,647 2,350,442
0.34 T 4 1/4 12/31/24 BMCVF09 99.16 15,581 2,343,804
0.34 T 0 1/2 08/31/27 BMV9TY6 87.19 17,762 2,349,455
0.34 T 3 3/4 04/15/26 BN6QD47 98.43 15,712 2,346,239
0.34 T 3 7/8 11/30/27 BP4XZ15 98.71 15,674 2,347,282
0.34 T 1 3/8 01/31/25 BKMH6B1 95.98 16,055 2,337,771
0.34 T 4 3/8 08/15/43 BQC4SL8 98.84 15,673 2,350,297
0.34 T 1 5/8 11/15/50 BN7JWV5 57.16 27,105 2,350,317
0.34 T 3 5/8 05/15/26 BQYLTJ2 98.16 15,665 2,332,978
0.34 T 2 11/15/41 BPBMDF5 69.50 22,210 2,341,751
0.34 T 4 1/4 05/31/25 BP489V8 99.15 15,442 2,322,795
0.34 T 4 5/8 03/15/26 BQXJJZ3 100.29 15,269 2,323,173
0.34 T 4 1/8 06/15/26 99.31 15,412 2,322,103
0.33 T 4 12/15/25 BL6JPN5 98.88 15,375 2,306,510
0.33 T 4 1/4 10/15/25 BPTH5G7 99.30 15,293 2,303,777
0.33 T 3 7/8 01/15/26 BNNMQW7 98.66 15,349 2,297,331
0.33 T 4 02/15/26 BQXLPS4 98.94 15,303 2,297,004
0.33 T 2 7/8 06/15/25 BQB7JY8 97.18 15,465 2,280,006
0.33 T 3 1/2 09/15/25 BNHSXS6 97.99 15,335 2,279,745
0.33 T 4 7/8 10/31/30 BMWPXY1 104.11 14,463 2,284,428
0.33 T 3 1/8 08/31/27 BQ0LV01 96.13 15,616 2,277,247
0.33 T 4 3/8 11/30/30 BNTC717 101.17 14,856 2,280,297
0.33 T 4 5/8 09/30/30 BMX7M83 102.59 14,647 2,279,720
0.33 T 4 06/30/28 BQXV186 99.27 15,118 2,276,870
0.33 T 4 1/2 07/15/26 BRBP392 100.25 14,892 2,264,914
0.33 T 3 7/8 12/31/27 BMCVF10 98.73 15,135 2,266,837
0.33 T 3 3/4 08/15/41 B459474 91.86 16,294 2,270,798
0.33 T 3 1/2 01/31/28 BL6BW07 97.30 15,326 2,262,500
0.33 T 3 5/8 03/31/28 BRPT260 97.76 15,237 2,259,811
0.33 T 4 1/2 08/15/39 B43HGR4 101.98 14,630 2,263,533
0.33 T 3 5/8 05/31/28 BP489T6 97.77 15,148 2,246,826
0.32 T 3 1/2 04/30/28 BMDLR24 97.25 15,191 2,241,251
0.32 T 3 3/8 11/15/48 BGRW851 84.05 17,557 2,238,617
0.32 T 1 3/8 08/15/50 BMDNWD6 53.41 27,658 2,240,959
0.32 T 3 1/4 06/30/29 BQC7W26 95.38 15,405 2,229,187
0.32 T 1 1/2 11/30/24 BJR5GR9 96.57 15,115 2,214,470
0.32 T 2 3/8 02/15/42 BNYF3R9 73.86 19,893 2,229,014
0.32 T 3 08/15/48 BFZLQN7 78.45 18,607 2,214,616
0.32 T 3 02/15/49 BJ7G9G2 78.45 18,531 2,205,594
0.32 T 2 3/8 03/31/29 BPRT3T4 91.45 15,777 2,188,973
0.32 T 0 3/8 04/30/25 BMWWQN2 93.96 15,292 2,179,877
0.32 T 3 7/8 08/15/40 B50PG34 93.81 15,390 2,190,308
0.31 T 2 3/4 05/31/29 BK939H9 93.01 15,411 2,174,567
0.31 T 3 1/4 05/15/42 BMDPZG6 84.66 16,870 2,166,607
0.31 T 4 11/15/42 BL56GP6 93.98 15,165 2,162,313
0.31 T 4 1/2 11/30/24 BP4XYZ2 99.41 14,234 2,146,723
0.31 T 2 7/8 05/15/49 BK1WFY3 76.63 18,471 2,147,245
0.31 T 3 7/8 05/15/43 BLB3TM9 92.22 15,149 2,119,495
0.30 T 4 1/2 11/15/25 BQVW426 99.80 13,847 2,096,703
0.30 T 1 1/8 02/28/25 BL1LYC8 95.48 14,432 2,090,459
0.30 T 4 1/8 08/31/30 BMGC3L5 99.61 13,887 2,098,578
0.30 T 3 3/4 11/15/43 BGK9QZ5 90.45 15,298 2,099,280
0.30 T 3 5/8 08/15/43 BCZQWC2 88.91 15,427 2,080,809
0.30 T 3 5/8 02/15/44 BJT0ZC0 88.69 15,459 2,080,048
0.30 T 0 1/2 03/31/25 BKPSY51 94.43 14,402 2,063,169
0.30 T 4 1/4 05/15/39 B41K8R9 99.25 13,679 2,059,657
0.30 T 3 3/4 05/31/30 BP489S5 97.52 13,853 2,049,525
0.29 T 3 5/8 03/31/30 BRPT271 96.88 13,859 2,036,814
0.29 T 0 3/8 07/31/27 BMXXZ82 87.01 15,270 2,015,588
0.29 T 3 7/8 02/15/43 BMXHQM5 92.23 14,365 2,010,046
0.29 T 3 7/8 11/30/29 BP4XZ04 98.30 13,370 1,994,037
0.29 T 1 3/4 12/31/24 BKRM495 96.61 13,534 1,983,598
0.28 T 3 7/8 09/30/29 BN6ML52 98.35 13,166 1,964,522
0.28 T 3 1/8 08/15/44 BPYD753 81.73 15,839 1,964,058
0.28 T 2 3/8 11/15/49 BKVKB94 69.08 18,743 1,964,208
0.28 T 3 11/15/45 BYQP1M5 79.36 16,269 1,958,687
0.28 T 3 7/8 12/31/29 BMCVF21 98.30 13,096 1,952,972
0.28 T 4 07/31/30 BNTDWX7 98.92 12,974 1,947,000
0.28 T 2 02/15/50 BK8ZZ34 63.25 20,089 1,927,662
0.28 T 3 11/15/44 BSJWZQ3 79.91 15,853 1,921,815
0.28 T 0 1/2 06/30/27 BL5BXR2 87.67 14,317 1,904,241
0.28 T 3 3/8 05/15/44 BM7S970 85.23 14,780 1,911,222
0.27 T 4 02/28/30 BMTY6J7 98.95 12,643 1,897,998
0.27 T 4 10/31/29 BNTVWS6 98.98 12,570 1,887,666
0.27 T 3 1/8 02/15/42 B7FRYY6 83.58 14,922 1,892,097
0.27 T 3 1/8 08/31/29 BQ0LV12 94.61 13,147 1,887,057
0.27 T 3 02/15/48 BG0D0F5 78.53 15,827 1,885,674
0.27 T 3 1/8 11/15/41 B6ZKRY9 83.86 14,788 1,881,359
0.27 T 2 7/8 11/30/25 BGSLD30 96.80 12,703 1,865,475
0.27 T 2 5/8 07/31/29 BQ7Y9N2 92.21 13,351 1,867,696
0.27 T 3 1/8 02/15/43 B89T3Q0 82.67 14,925 1,871,879
0.27 T 2 1/4 08/15/49 BK9DLC8 67.20 18,313 1,867,077
0.27 T 2 7/8 08/15/45 BYSJ1Z8 77.75 15,733 1,855,829
0.27 T 3 3/4 06/30/30 BMY8B88 97.50 12,381 1,831,415
0.26 T 1 1/8 05/15/40 BMFKWB3 61.58 19,637 1,834,506
0.26 T 3 05/15/42 BYQLTY1 81.67 14,795 1,833,175
0.26 T 3 02/15/47 BDRJ2Q0 78.78 15,288 1,827,203
0.26 T 3 1/2 01/31/30 BL6BVY4 96.27 12,475 1,821,895
0.26 T 1 5/8 09/30/26 BJYQBG9 92.89 12,781 1,801,204
0.26 T 3 1/2 04/30/30 BMDLR35 96.16 12,369 1,804,576
0.26 T 1 7/8 06/30/26 BJXXZT2 93.99 12,614 1,798,716
0.26 T 3 3/8 08/15/42 BJLVKG0 86.03 13,758 1,795,722
0.26 T 0 1/2 05/31/27 BLB6SP4 87.91 13,363 1,782,340
0.26 T 2 3/4 11/15/42 B8JB195 78.05 15,012 1,777,499
0.26 T 2 3/4 08/15/42 B75JF50 78.36 14,919 1,773,543
0.25 T 3 05/15/45 BXC4FZ0 79.63 14,478 1,748,976
0.25 T 2 3/4 08/15/47 BF53YK6 75.05 15,317 1,743,848
0.25 T 1 5/8 11/30/26 BJR45M4 92.50 12,339 1,731,514
0.25 T 3 1/8 05/15/48 BG5NQ30 80.31 14,126 1,721,134
0.25 T 2 7/8 05/15/43 B8W8CX4 79.31 14,231 1,712,293
0.24 T 3 05/15/47 BF0T9Z9 78.73 14,033 1,676,215
0.24 T 2 5/8 12/31/25 BHN7686 96.23 11,383 1,661,726
0.24 T 2 5/8 01/31/26 BGC26F2 96.14 11,356 1,656,362
0.24 T 2 1/2 02/28/26 BJKRNY8 95.79 11,328 1,646,156
0.24 T 0 1/2 04/30/27 BMWWQX2 88.16 12,314 1,647,100
0.24 T 2 1/2 02/15/45 BVVT273 72.97 14,906 1,650,100
0.24 T 2 3/8 04/30/26 BK1LRJ9 95.34 11,280 1,631,465
0.24 T 2 1/4 03/31/26 BJ5S5T5 95.19 11,297 1,631,414
0.23 T 2 1/8 05/31/26 BK0Y6D6 94.65 11,255 1,616,058
0.23 T 3 09/30/25 BFM0VV0 97.14 10,957 1,614,684
0.23 T 2 3/4 08/31/25 BG0MNF3 96.78 10,974 1,611,315
0.23 T 1 7/8 07/31/26 BJVN8R3 93.76 11,331 1,611,678
0.23 T 3 10/31/25 BGN70G5 97.08 10,928 1,609,550
0.23 T 2 3/4 11/15/47 BF92XY6 74.97 14,230 1,618,508
0.23 T 4 1/2 02/15/36 B0YBFV4 103.75 10,200 1,605,448
0.23 T 2 7/8 11/15/46 BZ1BP67 77.14 13,724 1,606,181
0.23 T 2 1/2 05/15/46 BYZ2TS9 72.06 14,690 1,605,955
0.23 T 1 3/8 08/31/26 BKS3C71 92.34 11,297 1,582,677
0.23 T 2 3/4 06/30/25 BD9MJH7 97.00 10,668 1,569,801
0.23 T 2 7/8 07/31/25 BFNQWY7 97.07 10,648 1,568,053
0.23 T 2 5/8 03/31/25 BYZNTH1 97.08 10,564 1,555,827
0.23 T 2 7/8 05/31/25 BF50TQ8 97.25 10,543 1,555,497
0.22 T 1 1/8 02/28/27 BL1LY73 90.59 11,290 1,551,596
0.22 T 1 3/4 12/31/26 BKRM4B7 92.79 10,957 1,542,381
0.22 T 2 3/4 02/28/25 BYZMK08 97.37 10,256 1,515,044
0.22 T 0 5/8 03/31/27 BKPSY95 88.80 11,268 1,517,920
0.22 T 4 3/4 11/15/53 BRBS4M1 108.28 9,248 1,519,234
0.22 T 2 7/8 04/30/25 BG44Z71 97.30 10,212 1,507,408
0.22 T 2 1/2 02/15/46 BD2C0D7 72.23 13,832 1,515,773
0.21 T 1 5/8 10/31/26 BKZ7NK6 92.64 10,499 1,475,632
0.21 T 2 1/2 01/31/25 BFMTY85 97.21 9,914 1,462,038
0.21 T 2 1/4 12/31/24 BFMVDZ1 97.12 9,919 1,461,447
0.21 T 2 1/8 11/30/24 BF2W116 97.15 9,684 1,427,274
0.21 T 2 1/4 08/15/46 BD1FML9 68.38 13,825 1,434,055
0.20 T 4 1/2 05/15/38 B3CJB24 102.69 8,906 1,387,432
0.20 T 4 3/8 02/15/38 B2PKS37 101.64 8,759 1,350,672
0.19 T 5 05/15/37 B23Y8Q4 108.50 8,003 1,317,421
0.19 T 3 1/2 02/15/39 B527Q49 91.13 9,293 1,284,749
0.18 T 6 1/8 11/15/27 2124555 106.69 7,672 1,241,802
0.16 T 1 1/4 05/15/50 BMHCRG7 51.66 14,389 1,127,650
0.14 T 5 3/8 02/15/31 2724610 107.44 5,882 958,802
0.13 T 6 1/4 05/15/30 2545907 111.41 5,433 918,296
0.13 T 4 3/4 02/15/37 B1RDG66 106.22 5,520 889,541
0.13 T 4 3/4 11/15/43 BP0VPN5 104.17 5,491 867,808
0.11 T 5 1/4 02/15/29 2388704 104.63 4,672 741,540
0.10 T 6 02/15/26 2888163 102.70 4,592 715,499
0.10 T 6 1/8 08/15/29 2480150 109.45 4,007 665,380
0.09 T 6 1/2 11/15/26 2941572 105.63 3,961 634,840
0.09 T 5 1/2 08/15/28 2285269 105.45 3,949 631,841
0.09 T 7 5/8 02/15/25 2937559 103.19 3,775 590,967
0.08 T 6 7/8 08/15/25 2935553 103.25 3,555 556,825
0.08 T 6 3/8 08/15/27 2094937 106.87 3,441 557,921
0.08 T 5 1/4 11/15/28 2307271 104.56 3,471 550,683
0.08 T 6 5/8 02/15/27 2894999 106.59 3,384 547,190
0.07 T 6 3/4 08/15/26 2942434 105.64 3,171 508,133
Holdings are subject to change.

Research

How to Use US Bonds in an Australian Portfolio

Read More

Three Ways to Enhance Portfolio Income with ETFs

Read More

Documents

FAQs

  • What are US Treasuries?

    Like any government, the US government needs money to fund itself. In order to do this, the United States Department of the Treasury issues debt – sometimes called Treasuries – to finance government spending as an alternative to taxation.

    The market for US government debt is the most liquid and deep of any type of financial instrument. As of January 2022, there is more than US$23 trillion in outstanding Treasuries. Every day, hundreds of billions of dollars worth of Treasuries change hands. Treasuries are held and used by countless institutions around the world. They often use them to earn a return on their cash in a low-risk way. However, uses are not limited to this. They are also used for analytical purposes as their yields set the risk-free rate of return.

  • How do you choose which bonds get included in the fund?

    USTB is passively managed. It tracks an index of US Treasuries calculated and published by IHS Markit, a subsidiary of S&P Global, and does not seek to outperform its benchmark. The index reflects the performance of tradable US dollar denominated debt issued by the US government. Bonds need to have a maturity of at least 1 year (exposure across the whole yield curve) and a minimum outstanding amount of USD $1 billion per issue

  • What role does DWS play in managing USTB?

    USTB is issued and managed by Global X Australia but gains its exposure to US Treasuries via an ETF issued and managed by DWS. USTB buys and sells units in the European-listed Xtrackers US Treasuries UCITS ETF (Ticker: XUTD), and manages this exposure to ensure the fund tracks the index as closely as possible. XUTD tracks the same index of US Treasuries but is not hedged to Australian dollars. Global X Australia separately manages the currency hedging.

  • Why do you use currency hedging?

    The main attraction of bonds as an asset class is that they provide capital stability and reliable income. This is especially true of US Treasuries. Yet when Australian investors buy unhedged Treasuries, the changing value of the US dollar elevates the risk of capital loss as currencies can move against investors. Additionally, currency fluctuations can swell or shrink income payments. In order to reduce this volatility, and provide more reliable income, we have chosen to use currency hedging for USTB.

  • What are the potential benefits of using USTB in a portfolio?

    The fund can be used to provide a steady return on investment. US Treasuries have provided steady income in all kinds of investment climates for centuries. The appeal of US Treasuries has become more acute in the past 10 years, as many Asian and European countries have experienced sustained near-zero or sub-zero interest rates.

    Cheaper access is another advantage of using USTB. Investors can buy US Treasuries directly in some instances. However, trading treasuries directly can come with wider spreads than trading treasury ETFs.

    Currency hedging is another benefit. The types of financial instruments used to currency hedge a portfolio – currency forwards – are not easily available to most investors. USTB provides currency hedging, managed by professional traders.

  • What are some of the potential risks?

    US Treasuries are usually characterised as lower-risk assets. However, they are not without risks. Two key risks include:

    Inflation risk. When inflation rises, the value of fixed coupon bonds can fall. This is because inflation erodes the real value of the coupon payments that bonds make. Rising inflation can have the added effect of causing central banks to increase interest rates. Rising interest rates also lower the value of fixed interest bonds.

    Interest rate risk. When interest rates rise, prices of debt securities typically fall. (The vulnerability of debt securities to interest rate rises is commonly measured by a statistic called “duration”). This means that changes in monetary policy or guidance by the US Federal Reserve are likely to affect the performance of the fund.

Investments may go up or down in value and you may lose some or all of the amount invested. Past performance is not necessarily a guide to future performance. Any advice provided by Global X Management (AUS) Limited (“Global X”) is general advice and does not take into account your personal objectives, financial situation or needs. You should consult an independent investment adviser prior to making an investment in order to determine its suitability to your circumstances. This material may contain links to third party websites. Global X does not control and is not responsible for the information contained within third party websites. None of these links imply Global X’s support, endorsement or recommendation of any other company, product or service.

Global X Management (AUS) Limited ACN 150 433 828 AFSL No 466778

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