Bond & Defensive ETFs: Compare Fees, Holdings & Returns
Funds holding government and corporate bonds, cash and other fixed income for the defensive part of a portfolio. Compare every bond and defensive ETF we track by fee, yield, fund size and holdings. General information only, not financial advice.
Bond & Defensive ETFs on the ASX
| ETF | Ticker | Fee (MER) | Dividend yield | Fund size | Holdings | Index tracked |
|---|---|---|---|---|---|---|
| Betashares Australian High Interest Cash ETF | AAA | 0.18% | approx. 3.9% | $5.2B | 9 | Aims to exceed 30-day BBSW |
| Vanguard Global Aggregate Bond Index (Hedged) ETF | VBND | 0.20% | approx. 3.2% | $4.3B | 14,411 | Bloomberg Global Aggregate Float Adjusted and Scaled Index (Hedged AUD) |
| VanEck Australian Subordinated Debt ETF | SUBD | 0.29% | approx. 4.5% | $3.7B | 36 | Solactive Australian Investment Grade Corporate Bond Select TR Index |
| iShares Core Composite Bond ETF | IAF | 0.10% | approx. 3.4% | $3.6B | 732 | Bloomberg AusBond Composite 0+ Yr Index |
| Vanguard Australian Fixed Interest Index ETF | VAF | 0.10% | approx. 3.2% | $3.5B | 843 | Bloomberg AusBond Composite 0+ Yr Index |
| Betashares Australian Bank Senior Floating Rate Bond ETF | QPON | 0.22% | approx. 4.4% | $2.0B | 14 | Solactive Australian Bank Senior Floating Rate Bond Index |
| Betashares Australian Investment Grade Corporate Bond ETF | CRED | 0.25% | approx. 5.2% | $1.8B | 62 | Solactive Australian Investment Grade Corporate Bond Select TR Index |
| Vanguard Australian Government Bond Index ETF | VGB | 0.16% | approx. 3.4% | $1.3B | 166 | Bloomberg AusBond Government 0+ Yr Index |
| iShares Government Inflation ETF | ILB | 0.18% | approx. 1.46% | $1.2B | 7 | n/a |
| Betashares Australian Composite Bond ETF | OZBD | 0.19% | approx. 4.41% | $1.2B | 718 | Bloomberg Australian Enhanced Yield Composite Bond Index |
| iShares Core Cash ETF | BILL | 0.18% | approx. 3.8% | $1.2B | 78 | Bloomberg AusBond Bank Bill Index |
| VanEck Australian Floating Rate ETF | FLOT | 0.22% | approx. 5% | $1.2B | 228 | Bloomberg AusBond Credit FRN 0+ Yr Index |
| Betashares Australian Government Bond ETF | AGVT | 0.10% | approx. 3.9% | $1.1B | 79 | Bloomberg AusBond Government 0+ Yr Index |
| Vanguard International Fixed Interest Index (Hedged) ETF | VIF | 0.20% | approx. 3.2% | $941M | 1,861 | Bloomberg Global Aggregate Float Adjusted and Scaled Index (hedged) |
| BetaShares Western Asset Aus Bond Active ETF | BNDS | 0.42% | approx. 4.26% | $844M | 516 | n/a |
| Franklin Australian Absolute Return Bond Fund - Active ETF | FRAR | 0.50% | approx. 1.8% | $715M | n/a | n/a |
| Vanguard Australian Corporate Fixed Interest Index ETF | VACF | 0.20% | approx. 4% | $695M | 547 | Bloomberg AusBond Credit 0+ Yr Index |
| Australian Major Bank Subordinated Debt ETF | BSUB | 0.29% | approx. 4.72% | $677M | n/a | n/a |
| Betashares Australian Major Bank Hybrids Index ETF | BHYB | 0.35% | approx. 4.87% | $660M | 19 | n/a |
| iShares Enhanced Cash ETF | ISEC | 0.12% | approx. 4.2% | $650M | 83 | Bloomberg AusBond Credit 0-3 Yr Index (aims to beat) |
| Betashares Australian Cash Plus Active ETF | MMKT | 0.18% | approx. 4.04% | $623M | n/a | n/a |
| Macquarie Subordinated Debt Active ETF | MQSD | 0.29% | approx. 5.39% | $595M | n/a | n/a |
| Global X US Treasury Bond ETF (Currency Hedged) | USTB | 0.19% | approx. 3.36% | $594M | 299 | n/a |
| Betashares Global Aggregate Bond Currency Hedged ETF | WBND | 0.19% | approx. 2.38% | $580M | n/a | n/a |
| iShares Core Corporate Bond ETF | ICOR | 0.15% | approx. 4.53% | $576M | 212 | n/a |
| Betashares Global Green Bond Currency Hedged ETF | GBND | 0.39% | approx. 2.49% | $206M | 464 | Solactive Global IG Fixed Rate Green Bond Index - AUD Hedged |
Figures are approximate and as at Q2 2026. Fees are the management expense ratio (MER) per year; yields are approximate trailing distributions and are not guaranteed. Past performance is not a reliable indicator of future returns. General information only, not financial advice. ETFLens does not hold an Australian Financial Services Licence (AFSL).
About bond & defensive ETFs
Funds holding government and corporate bonds, cash and other fixed income for the defensive part of a portfolio. ETFLens tracks 63 bond and defensive ETFs on the ASX, with management fees ranging from approximately 0.10% to 0.50% per year. The largest by funds under management is Betashares Australian High Interest Cash ETF (AAA), at approximately $5.2B.
Fees vary across the category. The lowest management fee among the funds shown is IAF at approximately 0.10% per year, and the highest is FRAR at approximately 0.50%. On a $10,000 holding, that difference works out to approximately $40 per year. Holdings counts range from approximately 7 to 14411 positions. MQSD carries the highest approximate trailing yield at 5.39%; past distributions are not a reliable indicator of future distributions.
Many bond and defensive ETFs hold similar underlying assets, so holding more than one can mean paying two sets of fees for overlapping exposure. You can check how much any two funds duplicate each other with the free ETF Overlap Checker. For the full category list including funds without a research page, browse all bond and defensive ETFs. General information only, not financial advice.
Compare bond & defensive ETFs side by side
Bond & Defensive ETFs: frequently asked questions
What is the lowest-fee bond and defensive ETF on the ASX?
As at Q2 2026, the lowest management fee among the bond and defensive ETFs ETFLens tracks is IAF (iShares Core Composite Bond ETF) at approximately 0.10% per year. A lower fee is one factor among many. General information only, not financial advice.
How many bond and defensive ETFs are listed on the ASX?
ETFLens tracks 63 bond and defensive ETFs on the ASX, of which 26 have full holdings and research pages and are shown here. General information only, not financial advice.
Are bond ETFs lower risk than share ETFs?
Bond and cash ETFs hold fixed income securities and have historically been less volatile than share ETFs, but they still carry risk: bond funds have interest-rate and credit risk, and their returns can still be negative. General information only, not financial advice.
Do bond and defensive ETFs overlap with each other?
Many bond and defensive ETFs hold similar underlying assets, so two funds in this category can duplicate a large share of each other's holdings. Holding both can mean paying two sets of fees for similar exposure. You can measure the overlap between any two funds with the free ETF Overlap Checker. General information only, not financial advice.
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General information only, not financial advice. ETFLens does not hold an Australian Financial Services Licence (AFSL). Figures are approximate and as at Q2 2026. Past performance is not a reliable indicator of future returns.