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FUEL.AX vs. ESTX.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FUEL.AX vs. ESTX.AX

Last updated Jul 16, 2026
Documentation

FUEL.AX (Betashares Global Energy Companies Currency Hedged ETF) and ESTX.AX (Global X EURO STOXX 50 ETF) are both Global Equities funds - FUEL.AX tracks the Betashares Global Energy Companies Currency Hedged Index while ESTX.AX tracks the EURO STOXX 50 Index. Both are passively managed. Over the past 5 years, FUEL.AX returned 15.31%/yr vs 12.14%/yr for ESTX.AX. At a 0.29 correlation, their price movements are largely independent.

Performance

FUEL.AX vs. ESTX.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Global Energy Companies Currency Hedged ETF (FUEL.AX) and Global X EURO STOXX 50 ETF (ESTX.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, FUEL.AX achieves a 24.46% return, which is significantly higher than ESTX.AX's 3.22% return.

FUEL.AX

1D
-0.73%
1M
-0.67%
6M
17.84%
YTD
24.46%
1Y
30.85%
3Y*
13.25%
5Y*
15.31%
10Y*
5.96%

ESTX.AX

1D
0.34%
1M
0.52%
6M
-0.32%
YTD
3.22%
1Y
8.95%
3Y*
14.83%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FUEL.AX vs. ESTX.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FUEL.AX
Betashares Global Energy Companies Currency Hedged ETF		24.46%10.28%-1.04%-2.17%37.74%29.02%-32.28%10.04%-11.41%2.28%
ESTX.AX
Global X EURO STOXX 50 ETF		3.22%27.21%13.48%23.32%-7.46%18.99%-2.51%27.06%-8.09%15.99%

Correlation

The correlation between FUEL.AX and ESTX.AX is -0.08, 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

-0.08

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

0.07

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

0.15

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2016

0.29

The correlation between FUEL.AX and ESTX.AX shifts across timeframes, from -0.08 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

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Betashares Global Energy Companies Currency Hedged ETF

Global X EURO STOXX 50 ETF

Return for Risk

FUEL.AX vs. ESTX.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FUEL.AX
FUEL.AX Risk / Return Rank: 5252
Overall Rank
FUEL.AX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
FUEL.AX Sortino Ratio Rank: 4949
Sortino Ratio Rank
FUEL.AX Omega Ratio Rank: 5151
Omega Ratio Rank
FUEL.AX Calmar Ratio Rank: 5959
Calmar Ratio Rank
FUEL.AX Martin Ratio Rank: 5252
Martin Ratio Rank
ESTX.AX
ESTX.AX Risk / Return Rank: 2121
Overall Rank
ESTX.AX Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
ESTX.AX Sortino Ratio Rank: 2121
Sortino Ratio Rank
ESTX.AX Omega Ratio Rank: 2222
Omega Ratio Rank
ESTX.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
ESTX.AX Martin Ratio Rank: 2121
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.

FUEL.AX vs. ESTX.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Global Energy Companies Currency Hedged ETF (FUEL.AX) and Global X EURO STOXX 50 ETF (ESTX.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.

FUEL.AXESTX.AXDifference
Sharpe ratioReturn per unit of total volatility
1.39
0.65

+0.74

Sortino ratioReturn per unit of downside risk
2.03
1.00

+1.02

Omega ratioGain probability vs. loss probability

1.27

1.13

+0.14

Calmar ratioReturn relative to maximum drawdown

2.42

0.71

+1.71

Martin ratioReturn relative to average drawdown

7.20

2.05

+5.15

FUEL.AX vs. ESTX.AX - Sharpe Ratio Comparison

The current FUEL.AX Sharpe Ratio is 1.39, which is higher than the ESTX.AX Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of FUEL.AX and ESTX.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

FUEL.AX vs. ESTX.AX - Drawdown Comparison

The maximum FUEL.AX drawdown since its inception was -65.66%, which is greater than ESTX.AX's maximum drawdown of -29.33%. Use the drawdown chart below to compare losses from any high point for FUEL.AX and ESTX.AX.

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Drawdown Indicators

FUEL.AXESTX.AXDifference

Max Drawdown

Largest peak-to-trough decline

-65.66%

-29.33%

-36.33%

Max Drawdown (1Y)

Largest decline over 1 year

-12.87%

-14.48%

+1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-22.90%

-14.48%

-8.42%

Max Drawdown (5Y)

Largest decline over 5 years

-23.54%

-26.60%

+3.06%

Max Drawdown (10Y)

Largest decline over 10 years

-65.66%

—

—

Current Drawdown

Current decline from peak

-7.65%

-2.65%

-5.00%

Average Drawdown

Average peak-to-trough decline

-13.62%

-5.29%

-8.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.37%

5.06%

-0.69%

Volatility

FUEL.AX vs. ESTX.AX - Volatility Comparison

Betashares Global Energy Companies Currency Hedged ETF (FUEL.AX) has a higher volatility of 5.70% compared to Global X EURO STOXX 50 ETF (ESTX.AX) at 3.11%. This indicates that FUEL.AX's price experiences larger fluctuations and is considered to be riskier than ESTX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FUEL.AXESTX.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.70%

3.11%

+2.59%

Volatility (6M)

Calculated over the trailing 6-month period

19.38%

13.59%

+5.79%

Volatility (1Y)

Calculated over the trailing 1-year period

22.36%

15.76%

+6.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.26%

16.35%

+7.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.38%

16.23%

+10.15%

Dividends

FUEL.AX vs. ESTX.AX - Dividend Comparison

FUEL.AX's dividend yield for the trailing twelve months is around 3.37%, less than ESTX.AX's 7.25% yield.

PositionTTM2025202420232022202120202019201820172016
ESTX.AX
Global X EURO STOXX 50 ETF		7.25%1.79%4.19%3.67%3.90%1.60%2.15%2.79%4.16%1.15%0.15%
FUEL.AX
Betashares Global Energy Companies Currency Hedged ETF		3.37%0.00%2.16%0.00%0.00%4.04%1.64%1.25%1.92%3.02%0.00%

Frequently Asked Questions

FUEL.AX and ESTX.AX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FUEL.AX tracks Betashares Global Energy Companies Currency Hedged Index, while ESTX.AX tracks EURO STOXX 50 Index. They also come from different issuers: BetaShares and Global X.

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