A200 — the BetaShares Australia 200 ETF — is Australia’s cheapest broad-market ETF at just 0.04% MER. It tracks the 200 largest ASX-listed companies by market capitalisation, providing diversified exposure to Australia’s share market at a very low ongoing cost. This review explains what A200 holds, how it works, and how it compares to VAS and IOZ.
A200 at a Glance (2026)
| Feature | Detail |
|---|---|
| ASX code | A200 |
| Full name | BetaShares Australia 200 ETF |
| Index tracked | Solactive Australia 200 Index |
| Number of holdings | ~200 |
| MER | 0.04% per year |
| Distribution frequency | Quarterly |
| Inception date | May 2018 |
| Fund size | $7+ billion (AUM) |
| Provider | BetaShares |
Verify current details at betashares.com.au.
What Does A200 Hold?
A200 tracks the Solactive Australia 200 Index — approximately the 200 largest ASX-listed companies by free-float adjusted market capitalisation. The top holdings are very similar to VAS and IOZ:
| Company | Approximate weight |
|---|---|
| Commonwealth Bank (CBA) | 9–10% |
| BHP Group (BHP) | 5–7% |
| CSL Limited (CSL) | 5–6% |
| National Australia Bank (NAB) | 4–5% |
| Westpac (WBC) | 3–4% |
| ANZ Group (ANZ) | 3–4% |
| Wesfarmers (WES) | 3–4% |
| Macquarie Group (MQG) | 2–3% |
| Goodman Group (GMG) | 2–3% |
| Woolworths (WOW) | 2–3% |
Weights change with market movements. Check current holdings at betashares.com.au.
A200 vs VAS — Key Differences
The most common comparison for Australian investors:
| Feature | A200 | VAS |
|---|---|---|
| Provider | BetaShares | Vanguard |
| Index | Solactive Australia 200 | S&P/ASX 300 |
| Holdings | ~200 | ~300 |
| MER | 0.04% | 0.07% |
| Annual cost on $100,000 | $40 | $70 |
| Inception | 2018 | 2009 |
| Fund size (AUM) | ~$7B | ~$18B+ |
The 0.03% MER difference: On $100,000 invested, this is a $30 difference per year. Over 30 years, this compounds to approximately $3,000–$5,000 — meaningful, but not enormous. The choice between A200 and VAS is unlikely to significantly change your long-term financial outcome.
The Index Difference — 200 vs 300 Holdings
VAS holds ~300 companies (ASX 300); A200 holds ~200 (ASX 200/Solactive 200). The additional ~100 small-cap companies in VAS give slightly more exposure to smaller ASX companies. However, in practice:
- The top 200 companies make up approximately 95%+ of the total ASX 300 by weight
- The return difference between the ASX 200 and ASX 300 is historically very small
- For most investors, this difference is negligible
A200 Distributions
A200 distributes quarterly. Distribution yields have historically been similar to VAS — approximately 3.5–4.5% cash yield, with franking credits increasing the grossed-up yield.
A200 MER — 0.04% Per Year
At 0.04% per year, A200 is one of the cheapest ETFs available anywhere in the world — not just Australia. On $50,000 invested, the annual fee is $20. This is A200’s primary competitive advantage over VAS.
Solactive Index vs S&P Index
A200 tracks a Solactive index rather than the S&P/ASX 200. Solactive is a reputable German index provider used by many ETF issuers globally. The Solactive Australia 200 closely mirrors the composition and performance of the S&P/ASX 200 — the practical difference for investors is negligible.
One consideration: Solactive charges lower index licensing fees than S&P — which is partly why BetaShares can offer a lower MER.
Related Articles
- VAS ETF Review
- VAS vs A200 — Which Is Better?
- IOZ ETF Review
- BetaShares ETFs Australia
- Best Australian Share ETFs
- ETFs hub
Frequently Asked Questions
Is A200 better than VAS? A200 has a lower MER (0.04% vs 0.07%) — the primary advantage. VAS holds slightly more companies (300 vs 200) and has a longer track record (2009 vs 2018). In practice, both ETFs deliver very similar returns — the annual fee difference on $50,000 is only $15 per year. Either is an excellent core Australian shares ETF. See the full VAS vs A200 comparison.
Is A200 safe? A200 is an ASIC-regulated ETF issued by BetaShares, a reputable Australian ETF provider. Its assets (shares in 200 ASX companies) are held separately from BetaShares’ own assets — your investment is protected in a trust structure. “Safe” in terms of investment risk: A200 is exposed to ASX share market risk — it will fall when the market falls.
Does A200 pay franking credits? Yes. A200 holds 200 large ASX companies, many of which pay fully franked dividends. These franking credits are passed through to unit holders in proportion to their holdings. Your annual tax statement from BetaShares/Computershare details the exact franking credit amount per unit.
This article provides general financial information only. ETF mentions are for educational context. Past performance is not a reliable indicator of future performance. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.