FAIR.AX vs. EX20.AX

Last updated Jul 16, 2026

FAIR.AX (Betashares Australian Sustainability Leaders ETF) and EX20.AX (Betashares Australian Ex-20 Portfolio Diversifier ETF) are both Australian Equities funds from BetaShares - FAIR.AX tracks the Nasdaq Future Australian Sustainability Leaders Index while EX20.AX tracks the Solactive Australia ex 20 Index. Both are passively managed. Over the past 5 years, FAIR.AX returned 0.87%/yr vs 3.80%/yr for EX20.AX. A 0.76 correlation means they provide meaningful diversification when combined. FAIR.AX charges 0.49%/yr vs 0.25%/yr for EX20.AX.

Performance

FAIR.AX vs. EX20.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Australian Sustainability Leaders ETF (FAIR.AX) and Betashares Australian Ex-20 Portfolio Diversifier ETF (EX20.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAIR.AX achieves a -7.43% return, which is significantly lower than EX20.AX's -6.84% return.

FAIR.AX

• 1D: 0.11%
• 1M: 0.04%
• 6M: -6.83%
• YTD: -7.43%
• 1Y: -13.34%
• 3Y*: 1.71%
• 5Y*: 0.87%
• 10Y*: —

EX20.AX

• 1D: 0.18%
• 1M: -2.97%
• 6M: -8.41%
• YTD: -6.84%
• 1Y: -2.67%
• 3Y*: 5.51%
• 5Y*: 3.80%
• 10Y*: —

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

FAIR.AX vs. EX20.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAIR.AX Betashares Australian Sustainability Leaders ETF	-7.43%	-1.46%	14.89%	11.36%	-16.95%	17.59%	2.30%	25.24%	1.64%	0.66%
EX20.AX Betashares Australian Ex-20 Portfolio Diversifier ETF	-6.84%	14.21%	10.11%	6.68%	-10.28%	16.05%	1.28%	26.55%	-6.17%	2.14%

Correlation

The correlation between FAIR.AX and EX20.AX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 27, 2017	0.76

The correlation between FAIR.AX and EX20.AX shifts across timeframes, from 0.61 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FAIR.AX vs. EX20.AX — Risk / Return Rank

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

FAIR.AX

FAIR.AX Risk / Return Rank: 3
FAIR.AX Sharpe Ratio Rank: 2
FAIR.AX Sortino Ratio Rank: 2
FAIR.AX Omega Ratio Rank: 2
FAIR.AX Calmar Ratio Rank: 5
FAIR.AX Martin Ratio Rank: 5

EX20.AX

EX20.AX Risk / Return Rank: 8
EX20.AX Sharpe Ratio Rank: 8
EX20.AX Sortino Ratio Rank: 8
EX20.AX Omega Ratio Rank: 8
EX20.AX Calmar Ratio Rank: 8
EX20.AX Martin Ratio Rank: 8

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.

FAIR.AX vs. EX20.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Australian Sustainability Leaders ETF (FAIR.AX) and Betashares Australian Ex-20 Portfolio Diversifier ETF (EX20.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.

	FAIR.AX	EX20.AX	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	-0.13	-0.88
Sortino ratio: Return per unit of downside risk	-1.32	-0.06	-1.26
Omega ratio: Gain probability vs. loss probability	0.85	0.99	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.57	-0.12	-0.44
Martin ratio: Return relative to average drawdown	-0.90	-0.28	-0.62

FAIR.AX vs. EX20.AX - Sharpe Ratio Comparison

The current FAIR.AX Sharpe Ratio is -1.01, which is lower than the EX20.AX Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of FAIR.AX and EX20.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.

Drawdowns

FAIR.AX vs. EX20.AX - Drawdown Comparison

The maximum FAIR.AX drawdown since its inception was -30.70%, smaller than the maximum EX20.AX drawdown of -39.55%. Use the drawdown chart below to compare losses from any high point for FAIR.AX and EX20.AX.

Drawdown Indicators

	FAIR.AX	EX20.AX	Difference
Max Drawdown Largest peak-to-trough decline	-30.70%	-39.55%	+8.85%
Max Drawdown (1Y) Largest decline over 1 year	-22.44%	-16.84%	-5.60%
Max Drawdown (3Y) Largest decline over 3 years	-22.44%	-16.84%	-5.60%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-18.65%	-4.88%
Current Drawdown Current decline from peak	-17.73%	-10.81%	-6.92%
Average Drawdown Average peak-to-trough decline	-7.30%	-5.38%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.38%	7.57%	+6.81%

Volatility

FAIR.AX vs. EX20.AX - Volatility Comparison

The current volatility for Betashares Australian Sustainability Leaders ETF (FAIR.AX) is 3.13%, while Betashares Australian Ex-20 Portfolio Diversifier ETF (EX20.AX) has a volatility of 4.15%. This indicates that FAIR.AX experiences smaller price fluctuations and is considered to be less risky than EX20.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAIR.AX	EX20.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	4.15%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	13.78%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	16.49%	-3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	15.01%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	15.89%	-0.83%

FAIR.AX vs. EX20.AX - Expense Ratio Comparison

FAIR.AX has a 0.49% expense ratio, which is higher than EX20.AX's 0.25% expense ratio.

Dividends

FAIR.AX vs. EX20.AX - Dividend Comparison

FAIR.AX's dividend yield for the trailing twelve months is around 1.58%, less than EX20.AX's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EX20.AX Betashares Australian Ex-20 Portfolio Diversifier ETF	1.63%	3.52%	1.46%	1.71%	1.44%	1.80%	2.68%	4.51%	3.89%	1.20%
FAIR.AX Betashares Australian Sustainability Leaders ETF	1.58%	2.27%	1.16%	1.09%	2.53%	2.86%	2.84%	3.30%	1.00%	0.00%

Frequently Asked Questions

Can I hold both FAIR.AX and EX20.AX in my portfolio?

FAIR.AX and EX20.AX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FAIR.AX or EX20.AX?

On fees, EX20.AX is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAIR.AX or EX20.AX?

EX20.AX is cheaper with a 0.25% expense ratio, compared with 0.49% for FAIR.AX.

What is the main difference between FAIR.AX and EX20.AX?

FAIR.AX tracks Nasdaq Future Australian Sustainability Leaders Index, while EX20.AX tracks Solactive Australia ex 20 Index. Their fees differ too: 0.49% for FAIR.AX and 0.25% for EX20.AX.