BILL.AX vs. GLIN.AX
BILL.AX (iShares Core Cash ETF) and GLIN.AX (iShares Core FTSE Global Infrastructure (AUD Hedged) ETF) are both exchange-traded funds - BILL.AX is a Money Market fund tracking the S&P/ASX Bank Bill Index, while GLIN.AX is a Global Equities fund tracking the iShares Core FTSE Global Infrastructure (AUD Hedged) Index. Both are passively managed. Over the past 3 years, BILL.AX returned 4.36%/yr vs 12.07%/yr for GLIN.AX. At a 0.01 correlation, their price movements are largely independent.
Performance
BILL.AX vs. GLIN.AX - Performance Comparison
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Returns By Period
In the year-to-date period, BILL.AX achieves a 2.24% return, which is significantly lower than GLIN.AX's 12.44% return.
BILL.AX
- 1D
- 0.04%
- 1M
- 0.40%
- 6M
- 2.09%
- YTD
- 2.24%
- 1Y
- 4.03%
- 3Y*
- 4.36%
- 5Y*
- 3.25%
- 10Y*
- —
GLIN.AX
- 1D
- -0.77%
- 1M
- 0.78%
- 6M
- 12.69%
- YTD
- 12.44%
- 1Y
- 17.78%
- 3Y*
- 12.07%
- 5Y*
- —
- 10Y*
- —
BILL.AX vs. GLIN.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BILL.AX iShares Core Cash ETF | 2.24% | 4.25% | 4.57% | 2.62% |
GLIN.AX iShares Core FTSE Global Infrastructure (AUD Hedged) ETF | 12.44% | 12.04% | 12.01% | 0.06% |
Correlation
The correlation between BILL.AX and GLIN.AX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 19, 2023 | 0.01 |
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Return for Risk
BILL.AX vs. GLIN.AX — Risk / Return Rank
BILL.AX
GLIN.AX
BILL.AX vs. GLIN.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Cash ETF (BILL.AX) and iShares Core FTSE Global Infrastructure (AUD Hedged) ETF (GLIN.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.
| BILL.AX | GLIN.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.62 | ||
| Sortino ratioReturn per unit of downside risk | +4.14 | ||
| Omega ratioGain probability vs. loss probability | 3.26 | 1.30 | +1.96 |
| Calmar ratioReturn relative to maximum drawdown | 11.39 | 3.19 | +8.21 |
| Martin ratioReturn relative to average drawdown | 37.49 | 9.92 | +27.57 |
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Drawdowns
BILL.AX vs. GLIN.AX - Drawdown Comparison
The maximum BILL.AX drawdown since its inception was -0.37%, smaller than the maximum GLIN.AX drawdown of -12.66%. Use the drawdown chart below to compare losses from any high point for BILL.AX and GLIN.AX.
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Drawdown Indicators
| BILL.AX | GLIN.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.37% | -12.66% | +12.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.34% | -5.76% | +5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -0.37% | -12.66% | +12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -0.37% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.16% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -2.24% | +2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 1.87% | -1.77% |
Volatility
BILL.AX vs. GLIN.AX - Volatility Comparison
The current volatility for iShares Core Cash ETF (BILL.AX) is 0.07%, while iShares Core FTSE Global Infrastructure (AUD Hedged) ETF (GLIN.AX) has a volatility of 3.15%. This indicates that BILL.AX experiences smaller price fluctuations and is considered to be less risky than GLIN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILL.AX | GLIN.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 3.15% | -3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.64% | 8.80% | -8.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.89% | 10.72% | -9.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.69% | 12.33% | -11.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.55% | 12.33% | -11.78% |
Dividends
BILL.AX vs. GLIN.AX - Dividend Comparison
BILL.AX's dividend yield for the trailing twelve months is around 3.97%, less than GLIN.AX's 5.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BILL.AX iShares Core Cash ETF | 3.97% | 4.13% | 4.46% | 3.69% | 0.98% | 0.02% | 0.46% | 1.50% | 1.83% | 0.61% |
GLIN.AX iShares Core FTSE Global Infrastructure (AUD Hedged) ETF | 5.93% | 2.94% | 2.60% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BILL.AX and GLIN.AX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BILL.AX is categorized as Money Market, while GLIN.AX is Global Equities. BILL.AX tracks S&P/ASX Bank Bill Index, while GLIN.AX tracks iShares Core FTSE Global Infrastructure (AUD Hedged) Index.
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