GEAR.AX vs. ARMR.AX
GEAR.AX (Betashares Geared Australian Equities Complex ETF) and ARMR.AX (Betashares Global Defence ETF) are both exchange-traded funds - GEAR.AX is a Global Equities fund actively managed by BetaShares, while ARMR.AX is a Aerospace & Defense fund tracking the VettaFi Global Defence Leaders Index. GEAR.AX is actively managed, while ARMR.AX is passively managed. Over the past year, GEAR.AX returned 3.78% vs -3.36% for ARMR.AX. At a 0.25 correlation, their price movements are largely independent.
Performance
GEAR.AX vs. ARMR.AX - Performance Comparison
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Returns By Period
In the year-to-date period, GEAR.AX achieves a 1.29% return, which is significantly higher than ARMR.AX's -6.62% return.
GEAR.AX
- 1D
- 0.08%
- 1M
- -2.32%
- 6M
- 0.16%
- YTD
- 1.29%
- 1Y
- 3.78%
- 3Y*
- 13.69%
- 5Y*
- 8.25%
- 10Y*
- 10.21%
ARMR.AX
- 1D
- 0.45%
- 1M
- -3.73%
- 6M
- -19.26%
- YTD
- -6.62%
- 1Y
- -3.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GEAR.AX vs. ARMR.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GEAR.AX Betashares Geared Australian Equities Complex ETF | 1.29% | 15.80% | -2.14% |
ARMR.AX Betashares Global Defence ETF | -6.62% | 47.73% | 12.11% |
Correlation
The correlation between GEAR.AX and ARMR.AX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024 | 0.25 |
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Return for Risk
GEAR.AX vs. ARMR.AX — Risk / Return Rank
GEAR.AX
ARMR.AX
GEAR.AX vs. ARMR.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Betashares Geared Australian Equities Complex ETF (GEAR.AX) and Betashares Global Defence ETF (ARMR.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.
| GEAR.AX | ARMR.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.01 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | -0.09 | +0.39 |
| Martin ratioReturn relative to average drawdown | 0.66 | -0.18 | +0.85 |
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Drawdowns
GEAR.AX vs. ARMR.AX - Drawdown Comparison
The maximum GEAR.AX drawdown since its inception was -66.50%, which is greater than ARMR.AX's maximum drawdown of -22.93%. Use the drawdown chart below to compare losses from any high point for GEAR.AX and ARMR.AX.
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Drawdown Indicators
| GEAR.AX | ARMR.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.50% | -22.93% | -43.57% |
Max Drawdown (1Y)Largest decline over 1 year | -17.82% | -22.93% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -30.91% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -66.50% | — | — |
Current DrawdownCurrent decline from peak | -8.41% | -20.43% | +12.02% |
Average DrawdownAverage peak-to-trough decline | -12.21% | -5.62% | -6.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.40% | 10.96% | -2.56% |
Volatility
GEAR.AX vs. ARMR.AX - Volatility Comparison
The current volatility for Betashares Geared Australian Equities Complex ETF (GEAR.AX) is 5.08%, while Betashares Global Defence ETF (ARMR.AX) has a volatility of 8.91%. This indicates that GEAR.AX experiences smaller price fluctuations and is considered to be less risky than ARMR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEAR.AX | ARMR.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 8.91% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 21.27% | 19.25% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.91% | 23.85% | +2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.72% | 23.54% | +6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.91% | 23.54% | +9.37% |
Dividends
GEAR.AX vs. ARMR.AX - Dividend Comparison
GEAR.AX's dividend yield for the trailing twelve months is around 0.57%, less than ARMR.AX's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARMR.AX Betashares Global Defence ETF | 2.08% | 2.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GEAR.AX Betashares Geared Australian Equities Complex ETF | 0.57% | 1.39% | 0.26% | 0.92% | 8.66% | 3.72% | 5.62% | 6.55% | 2.90% | 1.64% | 1.57% | 1.74% |
Frequently Asked Questions
GEAR.AX and ARMR.AX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GEAR.AX is categorized as Global Equities, while ARMR.AX is Aerospace & Defense.
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