Betashares Releases Updated PDS for Four Geared Wealth Builder ETFs Including GHHF

Four Geared Wealth Builder ETFs Included in the 1 July 2026 PDS Update

The updated PDS encompasses four geared ETFs managed by Betashares Capital Ltd, each offering exposure to different market segments. These are: the Betashares Wealth Builder Australia 200 Geared (30-40% LVR) Complex ETF (ASX:G200), the Betashares Wealth Builder Diversified All Growth Geared (30-40% LVR) Complex ETF (ASX:GHHF), the Betashares Wealth Builder Nasdaq 100 Geared (30-40% LVR) Complex ETF (ASX:GNDQ), and the Betashares Wealth Builder Global Shares Geared (30-40% LVR) Complex ETF (ASX:GGBL).

All four funds maintain an internal loan-to-value ratio (LVR) between 30% and 40%, employing leverage to amplify exposure to their respective underlying indices or asset classes. The consolidated PDS acts as a single offer document for all four registered managed investment schemes, each with its own Australian Registered Scheme Number (ARSN): ARSN 664 917 177 for G200, ARSN 664 917 319 for GHHF, ARSN 643 155 962 for GNDQ, and ARSN 685 155 515 for GGBL.

Reasons for Replacing the Previous PDS from 18 September 2025

The 1 July 2026 PDS replaces the earlier version dated 18 September 2025. Betashares states that the new document consolidates the supplementary PDS issued on 23 March 2026 and updates the fees and costs applicable to each fund. This consolidation provides investors and Authorised Participants with an up-to-date, comprehensive reference for all material fund information.

The March 2026 supplementary PDS introduced non-material changes requiring formal documentation. Rather than issuing further supplementary updates, Betashares opted to produce a full replacement PDS due to the scope of fee and cost revisions. The company did not disclose specific fee adjustments in the announcement; investors should consult the full PDS at www.betashares.com.au for detailed fee information.

Launch Dates and Trading History of the Four Geared Wealth Builder ETFs

The PDS clarifies the commencement dates for each fund. Both the Betashares Wealth Builder Australia 200 Geared (30-40% LVR) Complex ETF (G200) and the Betashares Wealth Builder Diversified All Growth Geared (30-40% LVR) Complex ETF (GHHF) began operations on 19 April 2024, making them the longest-standing funds in this suite. The Betashares Wealth Builder Nasdaq 100 Geared (30-40% LVR) Complex ETF (GNDQ) started on 11 October 2024, while the most recent addition, the Betashares Wealth Builder Global Shares Geared (30-40% LVR) Complex ETF (GGBL), commenced on 30 September 2025.

All four ETFs are approved for trading on the ASX AQUA market under the AQUA Rules, a market segment tailored for managed funds, ETFs, and structured products, operating under a regulatory framework distinct from standard ASX Listing Rules.

Implications of the 30-40% LVR Structure for Investors in GHHF and Related Funds

Each fund uses an internal gearing mechanism targeting a loan-to-value ratio between 30% and 40%, differentiating them from unleveraged ETFs. While standard ETFs provide direct one-to-one exposure to an underlying index, these geared ETFs borrow to increase market exposure relative to the equity invested by unitholders, thereby magnifying both gains and losses.

Specifically for GHHF, the gearing applies to a diversified all-growth multi-asset portfolio rather than a single sector or country index. All four funds are classified as "Complex ETFs," reflecting their leveraged nature and associated risks. Investors in these products are expected to have a higher level of financial sophistication and understand leverage mechanics, including the potential for accelerated losses during market downturns and the effects of rebalancing on long-term returns.

Trading on the ASX AQUA Market and Regulatory Considerations

These four geared ETFs trade on the ASX AQUA market instead of under standard ASX Listing Rules. The AQUA Rules govern managed fund products and mean that units trade at market prices on the ASX, which may differ from the funds’ net asset values (NAVs) at any given time. Betashares highlights that "units in Betashares funds trade on the ASX at market prices, not at NAV."

This distinction is important for leveraged products, as NAVs can fluctuate more rapidly due to amplified market exposure. Retail investors purchasing units via stockbrokers or financial advisers cannot subscribe directly through the PDS, a process reserved for Authorised Participants—financial institutions that transact directly with Betashares for unit creation and redemption. However, retail investors can use the PDS to better understand the funds they trade on-market.

Updated Fees and Costs Across the Wealth Builder ETF Range

Updating fees and costs is one of the main reasons for the new PDS. Although the announcement confirms revisions to fees and costs, it does not specify the exact amounts or nature of these changes. Investors interested in current management fees, indirect cost ratios, or other charges for G200, GHHF, GNDQ, and GGBL should review the full PDS document.

Fee transparency is especially critical for geared ETFs because ongoing costs combined with leverage can significantly affect net returns over time. Both borrowing costs related to maintaining the LVR target and management fees contribute to the total holding cost. Investors should carefully examine the fees and costs section of the updated PDS before investing or continuing to hold these funds.

Risk Considerations and Complex ETF Classification for GHHF

The PDS underscores that investing in any of the four Betashares Wealth Builder geared ETFs carries risks, including potential delays in repayment and loss of income and principal. While such risk disclosures are standard for managed investment schemes, the leveraged structure introduces additional risks beyond those in unleveraged funds. The PDS directs investors to a dedicated risk section and product supplement for detailed risk information specific to each fund.

Betashares explicitly states that neither Betashares Capital Ltd nor Betashares Holdings Pty Ltd guarantees fund performance, capital repayment, or any particular return rate. This no-guarantee statement is a regulatory requirement for registered managed investment schemes in Australia. Given their classification as Complex ETFs, these products include enhanced risk warnings and require distributors to carefully assess suitability before recommending them to retail clients. Target Market Determinations (TMDs) outlining appropriate consumer classes are available at www.betashares.com.au/target-market-determinations.

ASIC Lodgement and Regulatory Status of the 1 July 2026 PDS

The updated PDS was lodged with ASIC on 1 July 2026, the same day it was published. This lodgement is a formal regulatory requirement that makes the document publicly accessible. The PDS includes standard disclaimers noting that neither ASIC nor ASX Limited accepts responsibility for its contents.

Betashares maintains current disclosure documents for its exchange traded products as part of its regulatory compliance. Betashares Capital Ltd holds Australian Financial Services Licence number 341181 and ABN 78 139 566 868, under which all four Wealth Builder geared ETFs are issued and managed. Investors seeking further information can contact Betashares at 1300 487 577 or visit their website, where a paper copy of the PDS can be requested free of charge.

Investor Guidance for GHHF and the Wealth Builder ETF Suite

Existing investors in GHHF, G200, GNDQ, and GGBL should prioritize reviewing the updated fees and costs section of the new PDS to assess any impact on their investment strategy. Given the leveraged nature and active LVR management of these funds, changes in fees or borrowing costs can compound and materially influence long-term returns. Independent financial, legal, and tax advice is recommended before making investment decisions based on this information.

Looking ahead, investors may monitor for additional supplementary PDS updates or new fund launches within the Betashares Wealth Builder range, as the PDS framework allows for future additions. Betashares notes that new funds may be introduced via supplementary or new PDS documents. Any significant changes to fund operations, fees, or LVR policies will trigger further regulatory disclosures. The immediate market impact of this PDS update was not evident, as such renewals are routine regulatory requirements rather than operational announcements.