A200.AX vs. VAS.AX

Last updated Jun 5, 2026

A200.AX (Betashares Australia 200 ETF) and VAS.AX (Vanguard Australian Shares Index ETF) are both exchange-traded funds - A200.AX is a fund fund tracking the Solactive Australia 200 Index, while VAS.AX is a Asia Pacific Equities fund tracking the S&P/ASX 300 Index. Both are passively managed. Over the past 5 years, A200.AX returned 7.68%/yr vs 7.13%/yr for VAS.AX. With a 0.98 correlation, they move nearly in lockstep. A200.AX charges 0.04%/yr vs 0.07%/yr for VAS.AX.

Performance

A200.AX vs. VAS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Australia 200 ETF (A200.AX) and Vanguard Australian Shares Index ETF (VAS.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, A200.AX achieves a 1.27% return, which is significantly higher than VAS.AX's -0.24% return.

A200.AX

• 1D: -1.26%
• 1M: 0.34%
• YTD: 1.27%
• 6M: 2.63%
• 1Y: 5.15%
• 3Y*: 10.27%
• 5Y*: 7.68%
• 10Y*: —

VAS.AX

• 1D: -2.23%
• 1M: -0.59%
• YTD: -0.24%
• 6M: 1.22%
• 1Y: 4.03%
• 3Y*: 9.70%
• 5Y*: 7.13%
• 10Y*: 8.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

A200.AX vs. VAS.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
A200.AX Betashares Australia 200 ETF	1.27%	10.31%	11.57%	12.00%	-0.56%	17.90%	1.16%	22.87%	-3.83%
VAS.AX Vanguard Australian Shares Index ETF	-0.24%	10.66%	11.40%	12.00%	-1.68%	17.04%	1.90%	23.77%	-4.67%

Correlation

The correlation between A200.AX and VAS.AX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 8, 2018	0.98

The correlation between A200.AX and VAS.AX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

A200.AX vs. VAS.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

A200.AX

A200.AX Risk / Return Rank: 16
A200.AX Sharpe Ratio Rank: 16
A200.AX Sortino Ratio Rank: 15
A200.AX Omega Ratio Rank: 16
A200.AX Calmar Ratio Rank: 17
A200.AX Martin Ratio Rank: 17

VAS.AX

VAS.AX Risk / Return Rank: 14
VAS.AX Sharpe Ratio Rank: 14
VAS.AX Sortino Ratio Rank: 13
VAS.AX Omega Ratio Rank: 14
VAS.AX Calmar Ratio Rank: 15
VAS.AX Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

A200.AX vs. VAS.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Australia 200 ETF (A200.AX) and Vanguard Australian Shares Index ETF (VAS.AX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	A200.AX	VAS.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.33	+0.10
Sortino ratio: Return per unit of downside risk	0.69	0.55	+0.15
Omega ratio: Gain probability vs. loss probability	1.09	1.07	+0.02
Calmar ratio: Return relative to maximum drawdown	0.61	0.47	+0.14
Martin ratio: Return relative to average drawdown	1.56	1.20	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

A200.AX vs. VAS.AX - Sharpe Ratio Comparison

The current A200.AX Sharpe Ratio is 0.43, which is comparable to the VAS.AX Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of A200.AX and VAS.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	A200.AX	VAS.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.33	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.56	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.58	-0.02

Drawdowns

A200.AX vs. VAS.AX - Drawdown Comparison

The maximum A200.AX drawdown since its inception was -35.55%, roughly equal to the maximum VAS.AX drawdown of -35.75%. Use the drawdown chart below to compare losses from any high point for A200.AX and VAS.AX.

Drawdown Indicators

	A200.AX	VAS.AX	Difference
Max Drawdown Largest peak-to-trough decline	-35.55%	-35.75%	+0.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-8.56%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-13.22%	-13.23%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-14.79%	-15.18%	+0.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.75%	—
Current Drawdown Current decline from peak	-4.58%	-5.60%	+1.02%
Average Drawdown Average peak-to-trough decline	-4.21%	-4.70%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.33%	-0.04%

Volatility

A200.AX vs. VAS.AX - Volatility Comparison

The current volatility for Betashares Australia 200 ETF (A200.AX) is 4.17%, while Vanguard Australian Shares Index ETF (VAS.AX) has a volatility of 4.71%. This indicates that A200.AX experiences smaller price fluctuations and is considered to be less risky than VAS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	A200.AX	VAS.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	4.71%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	9.88%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	12.02%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	12.81%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	14.47%	+0.82%

A200.AX vs. VAS.AX - Expense Ratio Comparison

A200.AX has a 0.04% expense ratio, which is lower than VAS.AX's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

A200.AX vs. VAS.AX - Dividend Comparison

A200.AX's dividend yield for the trailing twelve months is around 3.40%, more than VAS.AX's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
A200.AX Betashares Australia 200 ETF	3.40%	3.33%	3.13%	3.75%	6.35%	2.98%	2.54%	3.61%	1.40%	0.00%	0.00%	0.00%
VAS.AX Vanguard Australian Shares Index ETF	3.19%	3.17%	3.22%	3.71%	7.19%	3.01%	2.56%	4.12%	4.84%	3.76%	4.14%	4.30%

Frequently Asked Questions

Can I hold both A200.AX and VAS.AX in my portfolio?

With a correlation of 0.99, A200.AX and VAS.AX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, A200.AX or VAS.AX?

On fees, A200.AX is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, A200.AX or VAS.AX?

A200.AX is cheaper with a 0.04% expense ratio, compared with 0.07% for VAS.AX.

What is the main difference between A200.AX and VAS.AX?

A200.AX tracks Solactive Australia 200 Index, while VAS.AX tracks S&P/ASX 300 Index. They also come from different issuers: BetaShares and Vanguard. Their fees differ too: 0.04% for A200.AX and 0.07% for VAS.AX.