FOOD.AX vs. USD.AX
FOOD.AX (Betashares Global Agriculture Companies Currency Hedged ETF) and USD.AX (BetaShares U.S. Dollar ETF) are both Global Equities funds from BetaShares - FOOD.AX tracks the Betashares Global Agriculture Companies Currency Hedged Index while USD.AX tracks the BetaShares U.S. Dollar Index. Both are passively managed. Over the past 5 years, FOOD.AX returned 4.79%/yr vs 4.51%/yr for USD.AX. At a correlation of -0.34, they often move in opposite directions.
Performance
FOOD.AX vs. USD.AX - Performance Comparison
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Returns By Period
In the year-to-date period, FOOD.AX achieves a 13.34% return, which is significantly higher than USD.AX's -2.28% return.
FOOD.AX
- 1D
- -0.25%
- 1M
- 2.83%
- 6M
- 6.93%
- YTD
- 13.34%
- 1Y
- 21.10%
- 3Y*
- 7.04%
- 5Y*
- 4.79%
- 10Y*
- —
USD.AX
- 1D
- 0.21%
- 1M
- 1.46%
- 6M
- -2.21%
- YTD
- -2.28%
- 1Y
- -3.95%
- 3Y*
- 3.53%
- 5Y*
- 4.51%
- 10Y*
- 2.65%
FOOD.AX vs. USD.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOOD.AX Betashares Global Agriculture Companies Currency Hedged ETF | 13.34% | 16.69% | -5.50% | -5.20% | -1.14% | 24.32% | 3.36% | 17.26% | -14.88% | 15.67% |
USD.AX BetaShares U.S. Dollar ETF | -2.28% | -3.37% | 15.22% | 3.37% | 8.32% | 5.76% | -8.86% | 2.76% | 11.63% | -7.20% |
Correlation
The correlation between FOOD.AX and USD.AX is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2016 | -0.34 |
The correlation between FOOD.AX and USD.AX shifts across timeframes, from -0.38 (5 years) to -0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FOOD.AX vs. USD.AX — Risk / Return Rank
FOOD.AX
USD.AX
FOOD.AX vs. USD.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Betashares Global Agriculture Companies Currency Hedged ETF (FOOD.AX) and BetaShares U.S. Dollar ETF (USD.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.
| FOOD.AX | USD.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.94 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.39 | +2.25 |
| Martin ratioReturn relative to average drawdown | 5.30 | -0.71 | +6.01 |
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Drawdowns
FOOD.AX vs. USD.AX - Drawdown Comparison
The maximum FOOD.AX drawdown since its inception was -39.46%, which is greater than USD.AX's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for FOOD.AX and USD.AX.
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Drawdown Indicators
| FOOD.AX | USD.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.46% | -30.05% | -9.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -9.84% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -22.20% | -14.54% | -7.66% |
Max Drawdown (5Y)Largest decline over 5 years | -34.67% | -14.54% | -20.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.05% | — |
Current DrawdownCurrent decline from peak | -6.10% | -10.55% | +4.45% |
Average DrawdownAverage peak-to-trough decline | -11.38% | -9.62% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 5.50% | -1.60% |
Volatility
FOOD.AX vs. USD.AX - Volatility Comparison
Betashares Global Agriculture Companies Currency Hedged ETF (FOOD.AX) has a higher volatility of 3.70% compared to BetaShares U.S. Dollar ETF (USD.AX) at 1.68%. This indicates that FOOD.AX's price experiences larger fluctuations and is considered to be riskier than USD.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOOD.AX | USD.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 1.68% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 7.32% | +6.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 9.45% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.47% | 11.02% | +6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 10.56% | +6.93% |
Dividends
FOOD.AX vs. USD.AX - Dividend Comparison
FOOD.AX's dividend yield for the trailing twelve months is around 3.97%, while USD.AX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FOOD.AX Betashares Global Agriculture Companies Currency Hedged ETF | 3.97% | 0.00% | 1.48% | 0.00% | 2.57% | 3.39% | 0.00% | 0.46% | 3.60% | 0.00% | 0.00% |
USD.AX BetaShares U.S. Dollar ETF | 0.00% | 2.53% | 3.89% | 3.39% | 0.00% | 0.00% | 1.19% | 2.37% | 0.76% | 0.17% | 0.08% |
Frequently Asked Questions
FOOD.AX and USD.AX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOOD.AX tracks Betashares Global Agriculture Companies Currency Hedged Index, while USD.AX tracks BetaShares U.S. Dollar Index.
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