BOND.AX vs. XARO.AX
BOND.AX (State Street SPDR S&P/ASX iBoxx Australian Bond ETF) and XARO.AX (Ardea Real Outcome Bond Complex ETF) are both Total Bond Market funds. BOND.AX is passively managed, while XARO.AX is actively managed. Over the past 5 years, BOND.AX returned -0.36%/yr vs 2.03%/yr for XARO.AX. At a correlation of -0.01, they often move in opposite directions.
Performance
BOND.AX vs. XARO.AX - Performance Comparison
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Returns By Period
In the year-to-date period, BOND.AX achieves a 1.98% return, which is significantly higher than XARO.AX's 1.43% return.
BOND.AX
- 1D
- 0.00%
- 1M
- -0.03%
- 6M
- 1.38%
- YTD
- 1.98%
- 1Y
- 2.21%
- 3Y*
- 3.73%
- 5Y*
- -0.36%
- 10Y*
- 1.40%
XARO.AX
- 1D
- 0.12%
- 1M
- 0.96%
- 6M
- 1.47%
- YTD
- 1.43%
- 1Y
- 4.40%
- 3Y*
- 2.59%
- 5Y*
- 2.03%
- 10Y*
- —
BOND.AX vs. XARO.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BOND.AX State Street SPDR S&P/ASX iBoxx Australian Bond ETF | 1.98% | 3.65% | 2.45% | 5.10% | -11.40% | -3.40% | 3.81% | 7.79% | 1.36% |
XARO.AX Ardea Real Outcome Bond Complex ETF | 1.43% | 6.78% | 0.49% | 2.17% | 0.46% | -0.60% | 5.21% | 8.56% | 0.20% |
Correlation
The correlation between BOND.AX and XARO.AX is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | -0.01 |
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Return for Risk
BOND.AX vs. XARO.AX — Risk / Return Rank
BOND.AX
XARO.AX
BOND.AX vs. XARO.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P/ASX iBoxx Australian Bond ETF (BOND.AX) and Ardea Real Outcome Bond Complex ETF (XARO.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.
| BOND.AX | XARO.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.23 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.94 | -1.24 |
| Martin ratioReturn relative to average drawdown | 1.49 | 6.74 | -5.24 |
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Drawdowns
BOND.AX vs. XARO.AX - Drawdown Comparison
The maximum BOND.AX drawdown since its inception was -17.15%, which is greater than XARO.AX's maximum drawdown of -7.44%. Use the drawdown chart below to compare losses from any high point for BOND.AX and XARO.AX.
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Drawdown Indicators
| BOND.AX | XARO.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.15% | -7.44% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.35% | -2.26% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.16% | -3.42% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -16.69% | -6.98% | -9.71% |
Max Drawdown (10Y)Largest decline over 10 years | -17.15% | — | — |
Current DrawdownCurrent decline from peak | -3.54% | -0.00% | -3.54% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -1.58% | -2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 0.66% | +0.95% |
Volatility
BOND.AX vs. XARO.AX - Volatility Comparison
The current volatility for State Street SPDR S&P/ASX iBoxx Australian Bond ETF (BOND.AX) is 0.83%, while Ardea Real Outcome Bond Complex ETF (XARO.AX) has a volatility of 0.99%. This indicates that BOND.AX experiences smaller price fluctuations and is considered to be less risky than XARO.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOND.AX | XARO.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.99% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 2.69% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 3.43% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 6.04% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 6.45% | -1.44% |
Dividends
BOND.AX vs. XARO.AX - Dividend Comparison
BOND.AX's dividend yield for the trailing twelve months is around 4.09%, more than XARO.AX's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND.AX State Street SPDR S&P/ASX iBoxx Australian Bond ETF | 4.09% | 2.90% | 1.06% | 0.17% | 0.73% | 1.87% | 1.60% | 1.76% | 2.62% | 2.67% | 3.64% | 3.41% |
XARO.AX Ardea Real Outcome Bond Complex ETF | 1.09% | 1.57% | 2.46% | 0.77% | 7.38% | 4.26% | 4.20% | 2.46% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BOND.AX and XARO.AX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: SPDR and ETF Issuer.
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