MQSD vs SUBD vs BSUB vs FSUB - Compare ETFs side by side

At a glance

Comparing MQSD, SUBD, BSUB, and FSUB. MQSD has the lowest management fee at 0.29% a year, MQSD has the highest 1 year return at 6.2% a year, and SUBD offers the highest at 5.35%.

Lowest fee

MQSD 0.29% p.a.

Highest 1 year return

MQSD 6.2% p.a.

Highest yield

SUBD 5.35%

Largest fund

SUBD $3.7bn

Side-by-side comparison

Metric	MQSD Macquarie Subordinated Debt Active ETF	SUBD VanEck Australian Subordinated Debt ETF	BSUB BetaShares Australian Major Bank Subordinated Debt ETF	FSUB VanEck Australian Fixed Rate Subordinated Debt ETF
Snapshot
Provider	—	VanEck	BetaShares	VanEck
Tracks index	—	—	Solactive Australian Major Bank Subordinated Debt Select Index	—
Categories	Bonds, AU, Active	Bonds, AU	AU	Bonds, AU
Listed since	—	—	2022 (4 yrs)	—
Fund size (AUM)	$958m	$3.7bn	$772m	$76m
Cost & income
Management fee	0.29%	0.29%	0.29%	0.29%
Dividend yield	5.33%	5.35%	4.69%	—
Franking	0%	0%	0%	0%
Turnover	30%	20%	15%	0%
Tax drag	2.43%	2.19%	1.86%	0%
Returns	Tax bracket - adjusts tax drag & net returns
1-year return	6.2% net	5.7% net	5.6% net	—
3-year return	—	6.2% net	—	—
5-year return	—	4.6% net	—	—
10-year return	—	—	—	—
Risk
Volatility (3y)	—	0.8%	—	—
Volatility (5y)	—	1.3%	—	—
Volatility (10y)	—	—	—	—
Sharpe ratio (3y)	—	2.44	—	—
Sharpe ratio (5y)	—	1.25	—	—
Sharpe ratio (10y)	—	—	—	—
Bid/ask spread	—	—	—	—

marks the strongest fund in each row. “net” shows the after-tax return at your selected bracket. “—” means we don’t have that data point yet.

Each fund at a glance

MQSD Macquarie Subordinated Debt Active ETF

Low-cost: a 0.29% management fee keeps more of the return in your pocket.
Pays a useful 5.33% income yield.

Full MQSD analysis →

SUBD VanEck Australian Subordinated Debt ETF

Low-cost: a 0.29% management fee keeps more of the return in your pocket.
Pays a useful 5.35% income yield.

Full SUBD analysis →

BSUB BetaShares Australian Major Bank Subordinated Debt ETF

Low-cost: a 0.29% management fee keeps more of the return in your pocket.
Pays a useful 4.69% income yield.

Cheaper alternatives exist: OZBD and VACF.

Full BSUB analysis →

FSUB VanEck Australian Fixed Rate Subordinated Debt ETF

Low-cost: a 0.29% management fee keeps more of the return in your pocket.

Full FSUB analysis →

Frequently Asked Questions

What's the difference between MQSD vs SUBD vs BSUB vs FSUB?

MQSD, SUBD, BSUB, and FSUB are 4 Australian-listed ETFs we compare side by side. MQSD carries the lowest management fee (0.29%). Over 1 year, MQSD has delivered the highest total return (6.2% a year). The table above breaks down fees, returns, income and risk for each.

Which has the lowest fees - MQSD vs SUBD vs BSUB vs FSUB?

MQSD has the lowest management fee at 0.29% a year, versus SUBD 0.29%, BSUB 0.29%, and FSUB 0.29%.

Which has performed highest - MQSD vs SUBD vs BSUB vs FSUB?

Over the past 1 year, MQSD has delivered the highest total return at 6.2% a year. Past performance is not a reliable indicator of future returns.

Which pays the highest dividend yield?

SUBD pays the highest at 5.35%. Remember distributions are taxed each year at your marginal rate.

Which is the largest and most liquid?

SUBD is the largest fund by assets ($3.7bn). Larger funds are typically more liquid and trade on tighter spreads.

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General information only, generated from each fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.