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ASIA.AX vs. GEAR.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ASIA.AX vs. GEAR.AX

Last updated Jul 16, 2026
Documentation

ASIA.AX (BetaShares Asia Technology Tigers ETF) and GEAR.AX (Betashares Geared Australian Equities Complex ETF) are both exchange-traded funds - ASIA.AX is a Technology Equities fund tracking the Solactive Asia Ex-Japan Technology & Internet Tigers Index, while GEAR.AX is a Global Equities fund actively managed by BetaShares. ASIA.AX is passively managed, while GEAR.AX is actively managed. Over the past 5 years, ASIA.AX returned 13.39%/yr vs 8.25%/yr for GEAR.AX. At a 0.43 correlation, their price movements are largely independent.

Performance

ASIA.AX vs. GEAR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares Asia Technology Tigers ETF (ASIA.AX) and Betashares Geared Australian Equities Complex ETF (GEAR.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ASIA.AX achieves a 41.66% return, which is significantly higher than GEAR.AX's 1.29% return.

ASIA.AX

1D
-4.07%
1M
-8.91%
6M
31.84%
YTD
41.66%
1Y
73.48%
3Y*
40.14%
5Y*
13.39%
10Y*
—

GEAR.AX

1D
0.08%
1M
-2.32%
6M
0.16%
YTD
1.29%
1Y
3.78%
3Y*
13.69%
5Y*
8.25%
10Y*
10.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ASIA.AX vs. GEAR.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
ASIA.AX
BetaShares Asia Technology Tigers ETF		41.66%43.48%34.52%10.84%-26.08%-15.49%62.13%36.05%-14.17%
GEAR.AX
Betashares Geared Australian Equities Complex ETF		1.29%15.80%13.80%15.84%-9.50%36.03%-11.97%52.03%-21.52%

Correlation

The correlation between ASIA.AX and GEAR.AX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2018

0.43

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BetaShares Asia Technology Tigers ETF

Betashares Geared Australian Equities Complex ETF

Return for Risk

ASIA.AX vs. GEAR.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ASIA.AX
ASIA.AX Risk / Return Rank: 7878
Overall Rank
ASIA.AX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
ASIA.AX Sortino Ratio Rank: 6767
Sortino Ratio Rank
ASIA.AX Omega Ratio Rank: 7373
Omega Ratio Rank
ASIA.AX Calmar Ratio Rank: 8989
Calmar Ratio Rank
ASIA.AX Martin Ratio Rank: 8383
Martin Ratio Rank
GEAR.AX
GEAR.AX Risk / Return Rank: 1313
Overall Rank
GEAR.AX Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
GEAR.AX Sortino Ratio Rank: 1313
Sortino Ratio Rank
GEAR.AX Omega Ratio Rank: 1313
Omega Ratio Rank
GEAR.AX Calmar Ratio Rank: 1313
Calmar Ratio Rank
GEAR.AX Martin Ratio Rank: 1313
Martin Ratio Rank
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.

ASIA.AX vs. GEAR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares Asia Technology Tigers ETF (ASIA.AX) and Betashares Geared Australian Equities Complex ETF (GEAR.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ASIA.AXGEAR.AXDifference
Sharpe ratioReturn per unit of total volatility
2.04
0.21

+1.83

Sortino ratioReturn per unit of downside risk
2.49
0.49

+2.00

Omega ratioGain probability vs. loss probability

1.34

1.06

+0.28

Calmar ratioReturn relative to maximum drawdown

4.19

0.31

+3.88

Martin ratioReturn relative to average drawdown

12.96

0.66

+12.29

ASIA.AX vs. GEAR.AX - Sharpe Ratio Comparison

The current ASIA.AX Sharpe Ratio is 2.04, which is higher than the GEAR.AX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of ASIA.AX and GEAR.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.

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Drawdowns

ASIA.AX vs. GEAR.AX - Drawdown Comparison

The maximum ASIA.AX drawdown since its inception was -59.62%, smaller than the maximum GEAR.AX drawdown of -66.50%. Use the drawdown chart below to compare losses from any high point for ASIA.AX and GEAR.AX.

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Drawdown Indicators

ASIA.AXGEAR.AXDifference

Max Drawdown

Largest peak-to-trough decline

-59.62%

-66.50%

+6.88%

Max Drawdown (1Y)

Largest decline over 1 year

-16.12%

-17.82%

+1.70%

Max Drawdown (3Y)

Largest decline over 3 years

-17.53%

-30.91%

+13.38%

Max Drawdown (5Y)

Largest decline over 5 years

-50.50%

-32.27%

-18.23%

Max Drawdown (10Y)

Largest decline over 10 years

—

-66.50%

—

Current Drawdown

Current decline from peak

-13.73%

-8.41%

-5.32%

Average Drawdown

Average peak-to-trough decline

-21.86%

-12.21%

-9.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.28%

8.40%

-3.12%

Volatility

ASIA.AX vs. GEAR.AX - Volatility Comparison

BetaShares Asia Technology Tigers ETF (ASIA.AX) has a higher volatility of 15.77% compared to Betashares Geared Australian Equities Complex ETF (GEAR.AX) at 5.08%. This indicates that ASIA.AX's price experiences larger fluctuations and is considered to be riskier than GEAR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ASIA.AXGEAR.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.77%

5.08%

+10.69%

Volatility (6M)

Calculated over the trailing 6-month period

30.08%

21.27%

+8.81%

Volatility (1Y)

Calculated over the trailing 1-year period

33.13%

25.91%

+7.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.70%

29.72%

-2.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.20%

32.91%

-6.71%

Dividends

ASIA.AX vs. GEAR.AX - Dividend Comparison

ASIA.AX's dividend yield for the trailing twelve months is around 1.55%, more than GEAR.AX's 0.57% yield.

PositionTTM20252024202320222021202020192018201720162015
ASIA.AX
BetaShares Asia Technology Tigers ETF		1.55%0.61%0.29%0.05%1.16%4.15%1.01%0.00%0.00%0.00%0.00%0.00%
GEAR.AX
Betashares Geared Australian Equities Complex ETF		0.57%1.39%0.26%0.92%8.66%3.72%5.62%6.55%2.90%1.64%1.57%1.74%

Frequently Asked Questions

ASIA.AX and GEAR.AX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ASIA.AX is categorized as Technology Equities, while GEAR.AX is Global Equities.

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