EXUS vs. STAX

Last updated Jun 4, 2026

EXUS (Macquarie Focused International Core ETF) and STAX (Macquarie Tax-Free USA Short Term ETF) are both exchange-traded funds - EXUS is a Foreign Large Cap Equities fund managed by Macquarie, while STAX is a Municipal Bonds fund actively managed by Macquarie. At a 0.25 correlation, their price movements are largely independent. EXUS charges 0.59%/yr vs 0.29%/yr for STAX.

Performance

EXUS vs. STAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macquarie Focused International Core ETF (EXUS) and Macquarie Tax-Free USA Short Term ETF (STAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXUS achieves a 6.98% return, which is significantly higher than STAX's 0.93% return.

EXUS

• 1D: -0.86%
• 1M: 4.71%
• YTD: 6.98%
• 6M: 8.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

STAX

• 1D: -0.08%
• 1M: 0.13%
• YTD: 0.93%
• 6M: 1.25%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EXUS vs. STAX - Yearly Performance Comparison

	2026 (YTD)	2025
EXUS Macquarie Focused International Core ETF	6.98%	4.28%
STAX Macquarie Tax-Free USA Short Term ETF	0.93%	2.49%

Correlation

The correlation between EXUS and STAX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.25

Return for Risk

EXUS vs. STAX — Risk / Return Rank

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

STAX

STAX Risk / Return Rank: 86
STAX Sharpe Ratio Rank: 95
STAX Sortino Ratio Rank: 97
STAX Omega Ratio Rank: 98
STAX Calmar Ratio Rank: 74
STAX Martin Ratio Rank: 65

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.

EXUS vs. STAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Focused International Core ETF (EXUS) and Macquarie Tax-Free USA Short Term ETF (STAX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EXUS	STAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	2.64	-1.97

Drawdowns

EXUS vs. STAX - Drawdown Comparison

The maximum EXUS drawdown since its inception was -15.28%, which is greater than STAX's maximum drawdown of -1.42%. Use the drawdown chart below to compare losses from any high point for EXUS and STAX.

Drawdown Indicators

	EXUS	STAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.28%	-1.42%	-13.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.05%	—
Current Drawdown Current decline from peak	-0.86%	-0.43%	-0.43%
Average Drawdown Average peak-to-trough decline	-3.06%	-0.23%	-2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.33%	—

Volatility

Volatility by Period

	EXUS	STAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	1.01%	+17.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.16%	1.38%	+16.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	1.38%	+16.78%

EXUS vs. STAX - Expense Ratio Comparison

EXUS has a 0.59% expense ratio, which is higher than STAX's 0.29% expense ratio.

Dividends

EXUS vs. STAX - Dividend Comparison

EXUS's dividend yield for the trailing twelve months is around 0.03%, less than STAX's 3.22% yield.

Position	TTM	2025	2024
EXUS Macquarie Focused International Core ETF	0.03%	0.03%	0.00%
STAX Macquarie Tax-Free USA Short Term ETF	3.22%	3.16%	3.43%

Frequently Asked Questions

Can I hold both EXUS and STAX in my portfolio?

EXUS and STAX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EXUS or STAX?

On fees, STAX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EXUS or STAX?

STAX is cheaper with a 0.29% expense ratio, compared with 0.59% for EXUS.

Which ETF pays a higher dividend yield, EXUS or STAX?

STAX has the higher dividend yield at 3.22%, compared with 0.03% for EXUS.

What is the main difference between EXUS and STAX?

EXUS is categorized as Foreign Large Cap Equities, while STAX is Municipal Bonds. Their fees differ too: 0.59% for EXUS and 0.29% for STAX.