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

US Treasury Bond ETF (Currency Hedged)

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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 10 May 2024

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 10 May 2024

NAV/Unit (A$) 9.08740000
Currency (NAV) AUD
Shares Outstanding 84,610,687
AUM (A$) 768,887,887.10
NAV History File View

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 30 Apr 2024

12-Month Yield 2.27%
12-Month Franking Level 0.00%
Distribution Frequency Quarterly
Distribution History View

Portfolio Characteristics As of 13 May 2024

Current Yield (%) 3.03
Yield to Maturity (%) 4.61
Average Maturity (Yrs) 7.93
Modified Duration (%) 6.01
Moody’s Credit Rating Aaa

Performance Table As of 13 May 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month 0.44% 0.45% -- 0.05%
3 Months -0.18% -0.17% -0.01% 0.06%
1 Year -3.29% -3.34% 0.06% 0.81%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. -3.04% -3.13% 0.09% 1.49%

Top Holdings As of 13 May 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
0.90 T 4 1/2 11/15/33 BRBS4K9 99.91 44,884 6,791,217
0.90 T 4 02/15/34 BS2G1B9 96.02 46,530 6,766,022
0.80 T 3 7/8 08/15/33 BRT3QG6 95.20 41,999 6,055,457
0.76 T 4 1/8 11/15/32 BQXS7B2 97.30 38,785 5,715,139
0.76 T 1 5/8 05/15/31 BMHV4S5 82.94 45,477 5,712,179
0.73 T 1 1/8 02/15/31 BM9WFM7 80.73 45,181 5,524,217
0.72 T 0 7/8 11/15/30 BN7JWT3 79.81 45,025 5,442,357
0.72 T 3 1/2 02/15/33 BQXLPX9 92.72 38,473 5,402,366
0.71 T 3 3/8 05/15/33 BQYLTK3 91.66 38,821 5,388,753
0.71 T 2 7/8 05/15/32 BPSLLY0 89.08 39,893 5,381,796
0.69 T 1 3/8 11/15/31 BMCNFW7 80.25 43,103 5,238,528
0.68 T 2 3/4 08/15/32 BQHM4D1 87.95 38,408 5,116,012
0.68 T 1 7/8 02/15/32 BM96PV8 82.91 40,632 5,101,705
0.64 T 0 5/8 08/15/30 BMDNWC5 78.99 40,609 4,858,044
0.57 T 3 1/8 11/15/28 BGRW840 94.20 29,947 4,272,089
0.56 T 0 5/8 05/15/30 BMHCRF6 79.72 34,762 4,196,818
0.54 T 4 5/8 04/30/29 BLDCKH6 100.48 26,978 4,105,444
0.53 T 2 7/8 08/15/28 BFZLQP9 93.50 28,495 4,034,889
0.53 T 4 7/8 04/30/26 BLDCKD2 100.01 26,581 4,026,130
0.53 T 4 3/4 11/15/53 BRBS4M1 101.69 26,053 4,012,138
0.53 T 2 5/8 02/15/29 BJ7G9F1 91.85 28,782 4,003,713
0.51 T 4 1/8 03/31/29 BQV12R4 98.25 25,908 3,855,010
0.51 T 2 3/8 05/15/29 BK1WFV0 90.41 28,122 3,850,762
0.51 T 4 1/2 03/31/26 BQV12S5 99.27 25,515 3,836,093
0.51 T 2 1/4 11/15/25 BYQ26R6 96.00 26,279 3,820,760
0.51 T 4 1/4 02/15/54 BS2G1C0 93.64 26,927 3,818,673
0.50 T 4 5/8 02/28/26 BMG7NL0 99.48 24,940 3,757,465
0.49 T 4 1/4 02/28/29 BMG7NM1 98.82 24,834 3,716,619
0.49 T 2 08/15/25 BYS2RD7 96.28 25,487 3,716,288
0.49 T 1 3/4 11/15/29 BKVKB83 86.91 28,193 3,710,693
0.49 T 1 1/4 08/15/31 BMWVP09 80.09 30,382 3,685,260
0.49 T 2 7/8 05/15/28 BD59D36 93.78 25,878 3,675,421
0.48 T 1 5/8 08/15/29 BK9DLB7 86.69 27,819 3,652,264
0.48 T 1 1/2 02/15/30 BK8ZZ12 84.85 28,181 3,621,440
0.48 T 2 1/8 05/15/25 BXC4FY9 97.05 24,617 3,618,364
0.47 T 1 5/8 02/15/26 BD2C0G0 94.44 24,934 3,566,255
0.47 T 4 1/4 01/31/26 BPJM960 98.85 23,786 3,560,739
0.47 T 2 3/8 05/15/27 BF0T9Y8 93.60 25,087 3,556,245
0.47 T 2 1/4 02/15/27 BYPG9T2 93.69 24,994 3,546,369
0.47 T 1 5/8 05/15/26 BYZ2XV0 93.85 24,917 3,541,617
0.46 T 2 1/4 08/15/27 BF53YJ5 92.80 24,923 3,502,870
0.46 T 2 1/4 11/15/27 BF92XX5 92.35 25,014 3,498,598
0.46 T 2 3/4 02/15/28 BG0D0D3 93.62 24,498 3,473,318
0.45 T 4 1/4 12/31/25 BRT4MH2 98.85 22,742 3,404,456
0.45 T 3 3/4 12/31/28 BRT4MG1 96.70 23,216 3,400,010
0.45 T 0 3/4 03/31/26 BMDNPN7 92.62 24,069 3,375,997
0.45 T 4 1/2 04/15/27 BQBC9Y3 99.51 22,377 3,372,264
0.45 T 4 01/31/29 BPJM982 97.74 22,722 3,363,487
0.44 T 4 1/8 08/15/53 BRT3QH7 91.56 24,145 3,348,110
0.44 T 0 3/4 04/30/26 BMDV7M4 92.33 23,938 3,347,289
0.44 T 2 11/15/26 BZ1BP78 93.54 23,419 3,317,576
0.44 T 1 1/8 10/31/26 BN7DP63 91.60 23,898 3,315,242
0.44 T 0 5/8 07/31/26 BMD9ZB3 91.27 23,977 3,314,041
0.43 T 0 3/4 05/31/26 BM9BQT8 92.05 23,535 3,281,092
0.43 T 1 1/2 08/15/26 BDH26G7 92.97 23,231 3,270,916
0.43 T 0 3/8 12/31/25 BNNXCK0 92.84 23,153 3,255,166
0.43 T 1 1/4 06/30/28 BMBYXD8 87.57 24,482 3,246,853
0.43 T 1 3/8 10/31/28 BN7DP74 87.26 24,341 3,216,652
0.42 T 4 1/8 02/15/27 BS2G197 98.51 21,496 3,206,924
0.42 T 1 1/4 09/30/28 BMCV844 86.95 24,349 3,206,149
0.42 T 0 1/2 02/28/26 BLKH0X0 92.43 22,837 3,196,676
0.42 T 4 1/4 03/15/27 BQ2MK50 98.84 21,285 3,186,232
0.42 T 0 7/8 09/30/26 BMCV833 91.31 22,978 3,177,640
0.42 T 0 3/8 01/31/26 BMZ2XK5 92.50 22,391 3,136,712
0.41 T 0 7/8 06/30/26 BMBYXC7 92.07 22,457 3,131,289
0.41 T 1 1/4 05/31/28 BM9BQW1 87.79 23,435 3,115,771
0.41 T 2 1/4 05/15/41 BMCXZ94 71.19 28,728 3,097,219
0.41 T 4 3/8 11/30/28 BNTC728 99.31 20,584 3,095,893
0.41 T 0 3/4 08/31/26 BN4FTY8 91.27 22,398 3,095,752
0.41 T 4 01/15/27 BQPG6W8 98.20 20,802 3,093,511
0.41 T 1 7/8 11/15/51 BMCNFZ0 56.84 35,728 3,075,722
0.41 T 1 07/31/28 BMD9ZD5 86.43 23,435 3,067,546
0.41 T 0 5/8 12/31/27 BNNXCL1 86.77 23,341 3,067,081
0.40 T 0 1/4 10/31/25 BMYVTV6 93.30 21,658 3,060,106
0.40 T 4 7/8 11/30/25 BNTC739 99.79 20,226 3,056,750
0.40 T 1 1/4 03/31/28 BMDNPR1 88.20 22,747 3,038,312
0.40 T 1 1/8 02/29/28 BLKH0Y1 87.98 22,766 3,033,512
0.40 T 4 7/8 10/31/28 BMWPXZ2 101.27 19,767 3,031,736
0.40 T 1 1/4 04/30/28 BLPKDT1 87.98 22,724 3,027,892
0.40 T 1 1/4 11/30/26 BP39M24 91.68 21,740 3,018,436
0.40 T 4 11/15/52 BQXS7C3 89.63 22,235 3,017,982
0.40 T 0 3/4 01/31/28 BMZ2XM7 86.93 22,745 2,994,408
0.40 T 1 1/8 08/31/28 BN4FTZ9 86.69 22,757 2,987,643
0.40 T 1 7/8 02/15/41 BMT9GQ9 67.20 29,331 2,985,192
0.39 T 0 3/8 11/30/25 BLH34N9 93.15 20,876 2,945,156
0.39 T 0 5/8 11/30/27 BLH34Q2 87.03 22,215 2,928,106
0.38 T 1 7/8 02/28/27 BP94LV5 92.63 20,692 2,902,565
0.38 T 1 3/8 12/31/28 BPP1JW7 86.87 22,045 2,900,226
0.38 T 1 1/4 12/31/26 BPP1JT4 91.47 20,929 2,899,247
0.38 T 2 3/8 05/15/51 BMHV4V8 64.63 29,482 2,885,444
0.38 T 1 1/2 11/30/28 BP39M35 87.58 21,730 2,882,088
0.38 T 2 1/2 03/31/27 BPRT3V6 94.17 20,207 2,881,943
0.38 T 0 1/4 08/31/25 BMV9TX5 93.98 20,116 2,863,271
0.37 T 5 10/31/25 BMWPY04 99.94 18,675 2,826,584
0.37 T 1 3/4 08/15/41 BLDBLR0 64.97 28,676 2,821,490
0.37 T 1 1/2 01/31/27 BKMH699 91.86 20,167 2,805,564
0.37 T 3 5/8 05/15/53 BQYLTM5 83.63 22,092 2,797,869
0.37 T 4 5/8 11/15/26 BRBS4G5 99.70 18,506 2,794,060
0.37 T 4 3/8 12/15/26 BM92T47 99.13 18,576 2,788,719
0.37 T 2 3/4 04/30/27 BQ2GVM6 94.70 19,348 2,774,716
0.37 T 4 5/8 09/30/28 BMX7M72 100.23 18,265 2,772,581
0.37 T 3 5/8 02/15/53 BQXLPR3 83.61 21,894 2,772,319
0.37 T 4 3/8 08/31/28 BMGC3Q0 99.26 18,409 2,767,325
0.37 T 4 5/8 10/15/26 BRWHW78 99.66 18,325 2,765,656
0.36 T 0 1/4 09/30/25 BMT6SJ7 93.64 19,317 2,739,595
0.36 T 0 1/2 10/31/27 BMYVTX8 86.89 20,763 2,732,247
0.36 T 4 5/8 02/15/40 B3M3870 100.13 17,880 2,711,241
0.36 T 3 1/4 06/30/27 BQC7W15 95.94 18,635 2,707,561
0.36 T 1 3/8 11/15/40 BNG0BM3 61.91 28,728 2,693,364
0.35 T 1 3/4 01/31/29 BN95VM5 88.23 19,935 2,663,698
0.35 T 5 09/30/25 BMX7M61 99.91 17,564 2,657,772
0.35 T 0 1/4 07/31/25 BMXXZ93 94.34 18,565 2,652,568
0.35 T 1 7/8 02/28/29 BP94LT3 88.60 19,708 2,644,436
0.35 T 2 7/8 05/15/52 BPSLLZ1 72.00 24,189 2,637,547
0.35 T 2 5/8 05/31/27 BK93979 94.22 18,349 2,618,196
0.34 T 2 3/4 05/15/25 BPSLLX9 97.65 17,595 2,602,068
0.34 T 2 7/8 06/15/25 BQB7JY8 97.62 17,588 2,600,324
0.34 T 1 7/8 02/15/51 BM9WFN8 57.22 29,904 2,591,386
0.34 T 2 08/15/51 BMWVP21 58.83 29,057 2,588,799
0.34 T 4 5/8 04/30/31 BLDCKG5 100.70 16,975 2,588,851
0.34 T 4 06/30/28 BQXV186 97.84 17,423 2,581,736
0.34 T 2 3/8 03/31/29 BPRT3T4 90.58 18,720 2,568,022
0.34 T 4 3/4 02/15/41 B3RFGR7 101.08 16,769 2,567,043
0.34 T 0 3/8 09/30/27 BMT6SK8 86.80 19,486 2,561,414
0.34 T 4 3/4 07/31/25 BNTDWY8 99.59 16,963 2,558,372
0.34 T 3 5/8 05/31/28 BP489T6 96.49 17,442 2,548,906
0.34 T 3 7/8 11/30/27 BP4XZ15 97.56 17,195 2,540,661
0.34 T 4 1/8 07/31/28 BNTDWZ9 98.30 17,035 2,535,967
0.33 T 3 07/15/25 BMQ53Q9 97.61 17,124 2,531,375
0.33 T 0 1/4 06/30/25 BL5BXQ1 94.70 17,649 2,531,319
0.33 T 3 7/8 12/31/27 BMCVF10 97.53 17,090 2,524,298
0.33 T 4 02/29/28 BMTY6H5 97.91 17,018 2,523,405
0.33 T 4 1/4 11/15/40 B5M0864 95.34 17,445 2,518,901
0.33 T 2 3/4 07/31/27 BQ7Y9P4 94.35 17,631 2,519,394
0.33 T 3 1/8 08/31/27 BQ0LV01 95.38 17,414 2,515,539
0.33 T 4 3/8 08/15/26 BRT3QF5 99.05 16,764 2,514,841
0.33 T 5 08/31/25 BMGC3P9 99.88 16,474 2,492,011
0.33 T 4 1/2 08/15/39 B43HGR4 98.98 16,622 2,491,836
0.33 T 4 3/8 05/15/41 BYQLV12 96.52 17,041 2,490,917
0.33 T 3 08/15/52 BQHM4F3 73.89 22,223 2,486,871
0.33 T 3 1/2 04/30/28 BMDLR24 96.09 17,084 2,486,021
0.33 T 1 1/8 08/15/40 BKVKF47 59.59 27,515 2,483,331
0.33 T 3 5/8 03/31/28 BRPT260 96.58 16,978 2,483,306
0.33 T 4 5/8 09/15/26 BP5X257 99.63 16,445 2,481,192
0.33 T 4 3/4 11/15/43 BP0VPN5 100.11 16,275 2,467,525
0.33 T 4 3/8 11/15/39 B59RHH2 97.42 16,718 2,466,647
0.33 T 3 1/8 08/15/25 BQHM4C0 97.64 16,661 2,463,687
0.33 T 4 1/8 03/31/31 BQV12W9 97.75 16,632 2,462,177
0.33 T 2 11/15/41 BPBMDF5 67.58 24,002 2,456,512
0.32 T 2 7/8 04/30/29 BQ2GVL5 92.68 17,469 2,452,011
0.32 T 3 3/8 11/15/48 BGRW851 80.05 20,086 2,435,039
0.32 T 4 1/2 11/15/25 BQVW426 99.24 16,201 2,434,893
0.32 T 4 3/8 08/15/43 BQC4SL8 95.36 16,810 2,427,609
0.32 T 0 3/8 04/30/25 BMWWQN2 95.51 16,766 2,425,133
0.32 T 4 1/8 10/31/27 BNTVWV9 98.37 16,257 2,421,923
0.32 T 4 1/2 07/15/26 BRBP392 99.31 16,073 2,417,458
0.32 T 4 1/2 02/15/44 BPG5RX5 96.91 16,382 2,404,285
0.32 T 4 12/15/25 BL6JPN5 98.47 16,123 2,404,329
0.32 T 4 1/8 06/15/26 98.56 16,090 2,401,809
0.32 T 3 7/8 01/15/26 BNNMQW7 98.26 16,130 2,400,331
0.32 T 3 7/8 08/15/40 B50PG34 91.23 17,369 2,399,923
0.32 T 4 3/8 05/15/40 B3TCBS2 97.16 16,301 2,398,530
0.32 T 0 1/2 08/31/27 BMV9TY6 87.45 18,092 2,395,925
0.32 T 3 1/2 09/15/25 BNHSXS6 97.97 16,102 2,389,116
0.32 T 4 1/4 02/28/31 BMG7NX2 98.52 15,992 2,385,928
0.32 T 1 5/8 11/15/50 BN7JWV5 53.58 29,391 2,384,858
0.32 T 4 1/8 09/30/27 BN6ML41 98.42 15,990 2,383,462
0.31 T 3 1/2 01/31/28 BL6BW07 96.23 16,308 2,376,577
0.31 T 4 1/4 05/31/25 BP489V8 99.07 15,836 2,376,108
0.31 T 4 1/4 10/15/25 BPTH5G7 98.90 15,766 2,361,496
0.31 T 4 02/15/26 BQXLPS4 98.41 15,799 2,354,689
0.31 T 2 3/4 05/31/29 BK939H9 92.02 16,802 2,341,395
0.31 T 0 1/4 05/31/25 BLB6SL0 95.02 16,273 2,341,839
0.31 T 3 5/8 05/15/26 BQYLTJ2 97.65 15,726 2,325,635
0.31 T 4 5/8 06/30/25 BQXV164 99.46 15,422 2,323,168
0.31 T 3 3/4 04/15/26 BN6QD47 97.92 15,600 2,313,422
0.31 T 0 3/8 07/31/27 BMXXZ82 87.34 17,455 2,308,707
0.30 T 4 3/8 11/30/30 BNTC717 99.20 15,313 2,300,614
0.30 T 3 3/4 08/15/41 B459474 88.86 17,076 2,298,037
0.30 T 4 01/31/31 BPJM959 97.08 15,526 2,282,585
0.30 T 3 1/4 06/30/29 BQC7W26 94.15 15,989 2,279,791
0.30 T 3 1/4 05/15/42 BMDPZG6 81.98 18,286 2,270,444
0.30 T 3 7/8 04/30/25 BMDLR13 98.77 15,183 2,271,078
0.30 T 2 7/8 05/15/49 BK1WFY3 72.72 20,545 2,262,610
0.30 T 4 7/8 10/31/30 BMWPXY1 101.97 14,622 2,258,032
0.30 T 3 3/4 12/31/30 BRT4MF0 95.67 15,567 2,255,465
0.30 T 2 1/4 02/15/52 BM96PW9 62.45 23,784 2,249,607
0.29 T 3 5/8 08/15/43 BCZQWC2 85.72 16,938 2,198,842
0.29 T 4 11/15/42 BL56GP6 90.94 15,859 2,184,149
0.29 T 4 5/8 03/15/26 BQXJJZ3 99.49 14,494 2,183,974
0.29 T 3 02/15/49 BJ7G9G2 74.59 19,299 2,180,150
0.29 T 0 1/2 06/30/27 BL5BXR2 88.01 16,267 2,168,111
0.29 T 4 5/8 09/30/30 BMX7M83 100.59 14,189 2,161,557
0.29 T 4 1/4 05/15/39 B41K8R9 96.39 14,755 2,153,967
0.28 T 1 3/8 08/15/50 BMDNWD6 50.05 28,189 2,136,578
0.28 T 4 1/8 08/31/30 BMGC3L5 97.85 14,373 2,129,937
0.28 T 3 7/8 09/30/29 BN6ML52 96.89 14,345 2,104,876
0.28 T 3 7/8 02/15/43 BMXHQM5 89.22 15,568 2,103,587
0.28 T 3 1/8 11/15/41 B6ZKRY9 81.06 17,016 2,089,032
0.28 T 2 3/8 02/15/42 BNYF3R9 71.66 19,161 2,079,340
0.28 T 3 3/4 11/15/43 BGK9QZ5 87.16 15,747 2,078,476
0.27 T 4 07/31/30 BNTDWX7 97.22 14,032 2,066,000
0.27 T 3 3/8 05/15/44 BM7S970 82.14 16,601 2,065,108
0.27 T 3 1/8 08/31/29 BQ0LV12 93.44 14,582 2,063,469
0.27 T 3 7/8 11/30/29 BP4XZ04 96.81 14,046 2,059,379
0.27 T 4 10/31/29 BNTVWS6 97.44 13,923 2,054,531
0.27 T 3 3/4 05/31/30 BP489S5 95.96 14,136 2,054,325
0.27 T 4 02/28/30 BMTY6J7 97.34 13,923 2,052,363
0.27 T 3 08/15/48 BFZLQN7 74.75 18,117 2,050,928
0.27 T 3 5/8 02/15/44 BJT0ZC0 85.44 15,806 2,045,181
0.27 T 2 5/8 07/31/29 BQ7Y9N2 91.23 14,723 2,034,246
0.27 T 3 7/8 12/31/29 BMCVF21 96.77 13,858 2,030,916
0.27 T 0 1/2 05/31/27 BLB6SP4 88.25 15,160 2,026,198
0.27 T 3 3/4 06/30/30 BMY8B88 95.91 13,951 2,026,427
0.27 T 3 5/8 03/31/30 BRPT271 95.41 13,932 2,013,051
0.27 T 3 05/15/42 BYQLTY1 78.97 16,823 2,011,918
0.27 T 3 1/8 02/15/43 B89T3Q0 79.81 16,574 2,003,384
0.26 T 3 3/8 08/15/42 BJLVKG0 83.31 15,676 1,977,865
0.26 T 1 1/8 05/15/40 BMFKWB3 60.19 21,668 1,975,045
0.26 T 3 1/8 05/15/48 BG5NQ30 76.64 17,003 1,973,518
0.26 T 3 1/2 04/30/30 BMDLR35 94.71 13,748 1,971,957
0.26 T 2 1/4 08/15/49 BK9DLC8 63.56 20,462 1,969,731
0.26 T 3 7/8 05/15/43 BLB3TM9 89.08 14,582 1,967,178
0.26 T 3 1/8 08/15/44 BPYD753 78.78 16,485 1,966,869
0.26 T 3 1/2 01/31/30 BL6BVY4 94.86 13,651 1,961,162
0.26 T 2 3/8 11/15/49 BKVKB94 65.30 19,695 1,947,626
0.26 T 2 7/8 05/15/43 B8W8CX4 76.50 16,731 1,938,369
0.25 T 3 02/15/48 BG0D0F5 74.98 16,871 1,915,928
0.25 T 3 11/15/44 BSJWZQ3 76.98 16,422 1,914,625
0.25 T 3 1/8 02/15/42 B7FRYY6 80.77 15,630 1,911,863
0.25 T 3 05/15/45 BXC4FZ0 76.63 16,283 1,889,529
0.25 T 0 1/2 04/30/27 BMWWQX2 88.54 14,018 1,879,602
0.25 T 2 5/8 12/31/25 BHN7686 96.32 12,886 1,879,783
0.25 T 3 11/15/45 BYQP1M5 76.31 16,127 1,863,866
0.25 T 2 1/2 02/28/26 BJKRNY8 95.82 12,827 1,861,422
0.24 T 2 1/4 03/31/26 BJ5S5T5 95.29 12,787 1,845,275
0.24 T 2 7/8 11/30/25 BGSLD30 96.83 12,526 1,836,977
0.24 T 2 3/8 04/30/26 BK1LRJ9 95.36 12,700 1,834,058
0.24 T 2 3/4 11/15/42 B8JB195 75.38 16,059 1,833,183
0.24 T 2 1/8 05/31/26 BK0Y6D6 94.72 12,669 1,817,372
0.24 T 1 5/8 09/30/26 BJYQBG9 92.98 12,902 1,816,764
0.24 T 3 09/30/25 BFM0VV0 97.26 12,333 1,816,665
0.24 T 2 3/4 08/31/25 BG0MNF3 97.07 12,356 1,816,416
0.24 T 1 7/8 06/30/26 BJXXZT2 94.07 12,662 1,803,850
0.24 T 1 5/8 11/30/26 BJR45M4 92.55 12,828 1,797,929
0.24 T 3 10/31/25 BGN70G5 97.16 12,201 1,795,244
0.24 T 2 02/15/50 BK8ZZ34 59.61 19,880 1,794,701
0.24 T 2 3/4 08/15/42 B75JF50 75.63 15,645 1,791,881
0.24 T 3 05/15/47 BF0T9Z9 75.41 15,636 1,785,629
0.24 T 2 1/2 02/15/45 BVVT273 70.23 16,774 1,784,230
0.24 T 1 5/8 10/31/26 BKZ7NK6 92.78 12,677 1,781,256
0.23 T 2 7/8 11/15/46 BZ1BP67 73.97 15,674 1,755,827
0.23 T 1 1/8 02/28/27 BL1LY73 90.73 12,721 1,747,922
0.23 T 2 7/8 07/31/25 BFNQWY7 97.40 11,838 1,746,189
0.23 T 2 7/8 05/31/25 BF50TQ8 97.68 11,754 1,738,819
0.23 T 2 7/8 08/15/45 BYSJ1Z8 74.78 15,654 1,772,863
0.23 T 2 3/4 06/30/25 BD9MJH7 97.42 12,016 1,772,759
0.23 T 1 3/4 12/31/26 BKRM4B7 92.71 12,562 1,763,766
0.23 T 1 3/8 08/31/26 BKS3C71 92.59 12,545 1,759,124
0.22 T 2 3/4 08/15/47 BF53YK6 71.77 15,635 1,699,308
0.22 T 0 5/8 03/31/27 BKPSY95 89.20 12,522 1,691,518
0.22 T 2 5/8 01/31/26 BGC26F2 96.18 11,358 1,654,527
0.22 T 2 1/2 02/15/46 BD2C0D7 69.39 15,726 1,652,635
0.22 T 3 02/15/47 BDRJ2Q0 75.52 14,440 1,651,418
0.22 T 1 7/8 07/31/26 BJVN8R3 93.88 11,609 1,650,656
0.21 T 2 1/2 05/15/46 BYZ2TS9 69.20 15,327 1,606,314
0.21 T 2 3/4 11/15/47 BF92XY6 71.63 14,759 1,601,012
0.21 T 4 1/2 02/15/36 B0YBFV4 101.02 10,369 1,586,242
0.21 T 4 1/2 05/15/38 B3CJB24 99.70 10,279 1,552,083
0.21 T 2 1/4 08/15/46 BD1FML9 65.58 15,639 1,553,154
0.20 T 2 7/8 04/30/25 BG44Z71 97.84 10,176 1,507,884
0.19 T 5 05/15/37 B23Y8Q4 105.28 8,788 1,401,153
0.18 T 3 1/2 02/15/39 B527Q49 88.72 10,305 1,384,645
0.18 T 6 1/8 11/15/27 2124555 104.68 8,735 1,384,813
0.16 T 1 1/4 05/15/50 BMHCRG7 48.50 16,496 1,211,633
0.15 T 4 3/8 02/15/38 B2PKS37 98.61 7,749 1,157,278
0.15 T 6 1/4 05/15/30 2545907 108.79 6,883 1,134,099
0.14 T 4 3/4 02/15/37 B1RDG66 103.06 6,617 1,032,838
0.14 T 5 3/8 02/15/31 2724610 105.36 6,473 1,032,805
0.10 T 6 02/15/26 2888163 101.80 5,077 782,807
0.10 T 6 1/8 08/15/29 2480150 107.31 4,610 749,218
0.09 T 5 1/4 02/15/29 2388704 102.88 4,604 717,344
0.09 T 5 1/2 08/15/28 2285269 103.68 4,550 714,511
0.09 T 6 7/8 08/15/25 2935553 102.32 4,561 706,679
0.09 T 5 1/4 11/15/28 2307271 102.66 4,484 697,082
0.09 T 6 1/2 11/15/26 2941572 104.52 4,277 677,090
0.08 T 6 5/8 02/15/27 2894999 105.12 4,033 641,989
0.08 T 6 3/8 08/15/27 2094937 105.04 3,640 579,078
0.08 T 6 3/4 08/15/26 2942434 104.02 3,644 574,134
Holdings are subject to change.

Research

US Treasuries: Blood on the Streets

Read More

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.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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