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CRED.AX vs. GGUS.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CRED.AX vs. GGUS.AX

Last updated Jul 16, 2026
Documentation

CRED.AX (Betashares Australian Investment Grade Corporate Bond ETF) and GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) are both exchange-traded funds - CRED.AX is a Corporate Bonds fund tracking the Solactive Australian Investment Grade Corporate Bond Select TR Index, while GGUS.AX is a Global Equities fund actively managed by BetaShares. CRED.AX is passively managed, while GGUS.AX is actively managed. Over the past 5 years, CRED.AX returned 0.47%/yr vs 14.41%/yr for GGUS.AX. At a 0.04 correlation, their price movements are largely independent.

Performance

CRED.AX vs. GGUS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) and Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.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, CRED.AX achieves a 0.80% return, which is significantly lower than GGUS.AX's 18.74% return.

CRED.AX

1D
0.09%
1M
0.08%
6M
0.11%
YTD
0.80%
1Y
1.25%
3Y*
5.74%
5Y*
0.47%
10Y*
—

GGUS.AX

1D
0.25%
1M
0.33%
6M
16.82%
YTD
18.74%
1Y
39.79%
3Y*
31.10%
5Y*
14.41%
10Y*
21.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CRED.AX vs. GGUS.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
CRED.AX
Betashares Australian Investment Grade Corporate Bond ETF		0.80%4.54%6.26%10.78%-14.47%-3.35%7.78%11.29%3.70%
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		18.74%18.83%45.64%49.70%-47.20%68.07%17.37%70.51%-19.25%

Correlation

The correlation between CRED.AX and GGUS.AX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.22

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

0.15

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

0.14

Correlation (All Time)
Calculated using the full available price history since May 31, 2018

0.04

The correlation between CRED.AX and GGUS.AX shifts across timeframes, from 0.04 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

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Betashares Australian Investment Grade Corporate Bond ETF

Betashares Geared US Equities Currency Hedged Complex ETF

Return for Risk

CRED.AX vs. GGUS.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CRED.AX
CRED.AX Risk / Return Rank: 1212
Overall Rank
CRED.AX Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
CRED.AX Sortino Ratio Rank: 1212
Sortino Ratio Rank
CRED.AX Omega Ratio Rank: 1212
Omega Ratio Rank
CRED.AX Calmar Ratio Rank: 1212
Calmar Ratio Rank
CRED.AX Martin Ratio Rank: 1212
Martin Ratio Rank
GGUS.AX
GGUS.AX Risk / Return Rank: 4949
Overall Rank
GGUS.AX Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
GGUS.AX Sortino Ratio Rank: 4444
Sortino Ratio Rank
GGUS.AX Omega Ratio Rank: 5050
Omega Ratio Rank
GGUS.AX Calmar Ratio Rank: 4848
Calmar Ratio Rank
GGUS.AX Martin Ratio Rank: 5757
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.

CRED.AX vs. GGUS.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) and Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.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.

CRED.AXGGUS.AXDifference
Sharpe ratioReturn per unit of total volatility
0.29
1.38

-1.09

Sortino ratioReturn per unit of downside risk
0.44
1.89

-1.45

Omega ratioGain probability vs. loss probability

1.05

1.26

-0.21

Calmar ratioReturn relative to maximum drawdown

0.23

2.00

-1.77

Martin ratioReturn relative to average drawdown

0.46

8.05

-7.59

CRED.AX vs. GGUS.AX - Sharpe Ratio Comparison

The current CRED.AX Sharpe Ratio is 0.29, which is lower than the GGUS.AX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CRED.AX and GGUS.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

CRED.AX vs. GGUS.AX - Drawdown Comparison

The maximum CRED.AX drawdown since its inception was -21.76%, smaller than the maximum GGUS.AX drawdown of -64.26%. Use the drawdown chart below to compare losses from any high point for CRED.AX and GGUS.AX.

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Drawdown Indicators

CRED.AXGGUS.AXDifference

Max Drawdown

Largest peak-to-trough decline

-21.76%

-64.26%

+42.50%

Max Drawdown (1Y)

Largest decline over 1 year

-5.54%

-20.90%

+15.36%

Max Drawdown (3Y)

Largest decline over 3 years

-5.54%

-46.78%

+41.24%

Max Drawdown (5Y)

Largest decline over 5 years

-21.76%

-55.53%

+33.77%

Max Drawdown (10Y)

Largest decline over 10 years

—

-64.26%

—

Current Drawdown

Current decline from peak

-2.41%

-1.47%

-0.94%

Average Drawdown

Average peak-to-trough decline

-5.72%

-13.41%

+7.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

5.24%

-2.37%

Volatility

CRED.AX vs. GGUS.AX - Volatility Comparison

The current volatility for Betashares Australian Investment Grade Corporate Bond ETF (CRED.AX) is 0.90%, while Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) has a volatility of 5.85%. This indicates that CRED.AX experiences smaller price fluctuations and is considered to be less risky than GGUS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CRED.AXGGUS.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

5.85%

-4.95%

Volatility (6M)

Calculated over the trailing 6-month period

3.70%

25.54%

-21.84%

Volatility (1Y)

Calculated over the trailing 1-year period

4.46%

30.44%

-25.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.36%

41.72%

-35.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.21%

40.73%

-34.52%

Dividends

CRED.AX vs. GGUS.AX - Dividend Comparison

CRED.AX's dividend yield for the trailing twelve months is around 3.93%, while GGUS.AX has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
CRED.AX
Betashares Australian Investment Grade Corporate Bond ETF		3.93%4.49%4.01%4.53%3.53%5.14%4.29%3.35%1.82%0.00%0.00%
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		0.00%1.69%0.00%0.00%6.12%2.52%0.00%0.12%0.96%0.62%0.89%

Frequently Asked Questions

CRED.AX and GGUS.AX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CRED.AX is categorized as Corporate Bonds, while GGUS.AX is Global Equities.

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