VanEck Bentham Global Capital Securities Active ETF
Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among Global ex-Australia fixed income funds would cost $151 (0.30% a year), so GCAP is $174 dearer.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at — · 45 securities · top 10 = 38.5%
Country
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.6 | 0.3 | −1.7 | 1.8 | 0.5 | 0.6 | 0.9 | 1.2 | −0.5 | −0.7 | 3.0YTD | ||
| 2025 | −0.1 | 0.5 | −0.5 | 0.3 | 0.4 | 1.8 | 0.5 | 0.9 | 0.5 | 1.2 | −0.2 | 0.6 | 6.0 |
| 2024 | 0.3 | 0.4 | 0.6 | −0.4 | 1.6 | 0.4 | 1.4 | 0.5 | 1.7 | −0.2 | 0.3 | 1.7 | 8.7 |
| 2023 | 3.3 | 0.5 | −11.7 | 3.1 | 1.1 | −0.6 | 3.2 | −1.3 | 0.8 | −0.9 | 3.5 | 3.6 | 3.6 |
| 2022 | −0.8 | −1.9 | 0.1 | −1.9 | −1.7 | −5.0 | 3.6 | 0.3 | −4.1 | 1.7 | 2.9 | 0.6 | −6.4 |
| 2021 | 0.0 | −0.0 | −2.9 | 2.8 | −0.1 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
GCAP questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is VanEck Bentham Global Capital Securities Active ETF?
VanEck Bentham Global Capital Securities Active ETF holds 45 securities.
Its largest country exposure is Australia at 87.6%.
Which ETFs does GCAP double up with most?
GCAP shares the most holdings with VanEck Australian Floating Rate ETF (FLOT) (15% overlap), iShares Yield Plus ETF (IYLD) (14% overlap) and Vaneck Australian Fixed Rate Subordinated Debt ETF (FSUB) (12% overlap). Overlap is the share of the portfolio the two funds hold in common, looking through to the underlying securities.
None of these overlaps is above half, so pairing GCAP with one of them adds some genuinely different holdings.
How is VanEck Bentham Global Capital Securities Active ETF managed – active or passive?
VanEck Bentham Global Capital Securities Active ETF is actively managed. Rather than tracking an index, a fund manager at VanEck decides what to buy and sell, aiming to do better than the market after fees.
What will I pay in fees for GCAP?
GCAP charges a management fee of 0.59% a year, about $59 for every $10,000 invested. Only 31% of the 471 ASX ETFs we track charge more, and the median fee is 0.44%. Among Global ex-Australia fixed income funds, the median is 0.28%.
Lower-cost funds with a similar focus include Vanguard Global Aggregate Bond Index (Hedged) ETF (VBND) at 0.20%, Vanguard International Fixed Interest Index (Hedged) ETF (VIF) at 0.20% and Betashares Global Aggregate Bond Currency Hedged ETF (WBND) at 0.19%.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.30% for GCAP.
Does VanEck Bentham Global Capital Securities Active ETF follow a theme?
No. VanEck Bentham Global Capital Securities Active ETF is a broad fixed income fund: it aims to cover a wide slice of its market (Global ex-Australia) rather than one theme or sector.
What is under the hood of GCAP?
The largest issuers among GCAP's holdings are Barclays Plc (4.9% across 3 bonds), Commerzbank Ag (4.7% across 4 bonds), Nationwide Building Society (4.1% across 3 bonds), Toronto-Dominion Bank/The (4.0% across 4 bonds), Cooperatieve Rabobank Ua (3.9% across 3 bonds), Kbc Group Nv (3.9% across 2 bonds), Sumitomo Mitsui Financial Group Inc (3.4% across 3 bonds), Caixabank Sa (3.2% across 5 bonds), Citigroup Inc (3.1% across 3 bonds) and Bpce Sa (2.9% across 3 bonds).
As an active fund it has no index rule: the manager decides which investments to hold and how much of each, within the limits set out in the PDS.
How well has VanEck Bentham Global Capital Securities Active ETF performed?
Based on its category, VanEck Bentham Global Capital Securities Active ETF aims mainly to pay a regular income, with capital growth secondary.
To 23 Oct 2026, with distributions reinvested, it returned 3.8% over 1 year (median −0.7%; ranked 1 of 12), 8.4% a year over 3 years (median 5.2% a year; ranked 1 of 10) and 2.8% a year over 5 years (median −0.6% a year; ranked 1 of 7). The medians and rankings compare it with Global ex-Australia fixed income funds. Since listing in 2021 it has returned 2.8% a year.
As an active fund, GCAP has no index to track. The fairer test is whether it beats similar funds and its market after fees, over several years.
Past performance is not a reliable indicator of future performance.