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QFN

$17.90-0.56%Banks & Financials32/100
Fund Page ↗

BetaShares S&P/ASX 200 Financials Sector ETF · BetaShares

Data as at 29 March 2026

TL;DR

Tracks ASX 200 financial companies excluding property trusts — the major banks, Macquarie, and insurance companies like QBE and IAG. More diversified than MVB's pure five-bank focus.

MER (Annual Fee)
0.34%
#3 lowest in Banks & Financials
1Y Return
+16.7%
3Y Return (p.a.)
+20.3%
Dividend Yield
2.59%
Trailing 12 months
AUM
$109.3M
Assets under management
Avg Daily Turnover
$16K
Avg shares × unit price
Unit Price
$17.90
As at 29 March 2026
Provider
BetaShares
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Strategy

Follows the Solactive Australia Financials ex-REITs Index, covering banks, diversified financials, and insurance companies while explicitly excluding Australian Real Estate Investment Trusts.

Top Holdings

CBA
22.5%
NAB
13.2%
Westpac
12.8%
ANZ
11.4%
Macquarie
9.5%
AMP
3.5%
IAG
3.2%
QBE
3.0%
Suncorp
2.8%
ASX Ltd
2.4%
Key Fact

The ASX financial sector has been the best-performing sector in Australia over 30 years, driven by the consistently high profitability of Australia's banking system. QFN provides targeted exposure to this sector at 0.39% per year.

Suited for

Investors who want financial sector exposure that includes insurance and financial services companies beyond just the major banks, without property companies mixed in.

Risks

Still heavily dominated by the big four banks at over 60% of the fund. Insurance company exposure adds some sector diversification but does not dramatically change the portfolio's overall profile.

ETFCheck Score32/100
Fees (40%)49
Fund Size (25%)13
Liquidity (20%)0
Yield (15%)61
How scores are calculated →
Other Banks & Financials ETFs
XFJ
0.24% MER
59
MVB
0.28% MER
47
OZF
0.34% MER
34View all Banks & Financials ETFs →

Frequently Asked Questions - QFN

How concentrated is QFN in Commonwealth Bank, and what risk does that create?+
QFN tracks the S&P/ASX 200 Financials sector using market-cap weighting, which means CBA alone represents roughly 30% of the fund. This gives investors enormous single-stock concentration risk - a CBA-specific event like a regulatory action or earnings miss could significantly drag down the entire ETF. Australian investors wanting financials exposure with less concentration might consider equal-weight alternatives or pairing QFN with smaller-cap financial holdings.
Does QFN distribute franking credits, and how does that benefit SMSF investors?+
Yes, QFN passes through franking credits attached to dividends from its underlying ASX-listed banks and financial companies. With a yield of approximately 4.35% and the Big Four banks typically paying fully franked dividends, SMSF investors in pension phase can claim full franking credit refunds from the ATO. This makes QFN particularly tax-effective for retirement accounts compared to unfranked international equity ETFs or bond funds like VAF.
What is the difference between QFN and XFJ for Australian financials exposure?+
QFN (MER 0.34%) and XFJ (MER 0.24%) both track ASX 200 financials, but XFJ includes A-REITs like Goodman Group and Scentre, while QFN is a pure financials play without property trusts. XFJ's A-REIT inclusion adds interest-rate sensitivity but broadens diversification. If you want concentrated banks and insurers exposure, QFN is cleaner; if you want cheaper fees and broader financials including property, XFJ offers better value at 10 basis points less.
How did QFN perform during the 2022-2023 rate hiking cycle in Australia?+
QFN returned approximately 21.2% over the past year as rising interest rates boosted bank net interest margins, directly benefiting the Big Four banks that dominate the fund. Higher rates typically support bank profitability in the short to medium term, making QFN a natural beneficiary during RBA tightening cycles. However, investors should note that prolonged high rates can eventually increase bad debts and mortgage stress, which would reverse this tailwind for QFN holdings.