GEAR.AX vs. SEMI.AX
GEAR.AX (Betashares Geared Australian Equities Complex ETF) and SEMI.AX (Global X Semiconductor ETF) are both Global Equities funds. GEAR.AX is actively managed, while SEMI.AX is passively managed. Over the past 3 years, GEAR.AX returned 13.69%/yr vs 56.20%/yr for SEMI.AX. At a 0.48 correlation, their price movements are largely independent.
Performance
GEAR.AX vs. SEMI.AX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GEAR.AX achieves a 1.29% return, which is significantly lower than SEMI.AX's 73.20% 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%
SEMI.AX
- 1D
- -5.18%
- 1M
- -8.58%
- 6M
- 56.90%
- YTD
- 73.20%
- 1Y
- 121.94%
- 3Y*
- 56.20%
- 5Y*
- —
- 10Y*
- —
GEAR.AX vs. SEMI.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GEAR.AX Betashares Geared Australian Equities Complex ETF | 1.29% | 15.80% | 13.80% | 15.84% | -9.50% | 0.69% |
SEMI.AX Global X Semiconductor ETF | 73.20% | 43.80% | 35.17% | 69.12% | -30.92% | 15.60% |
Correlation
The correlation between GEAR.AX and SEMI.AX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GEAR.AX vs. SEMI.AX — Risk / Return Rank
GEAR.AX
SEMI.AX
GEAR.AX vs. SEMI.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 Global X Semiconductor ETF (SEMI.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 | SEMI.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.50 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 8.01 | -7.70 |
| Martin ratioReturn relative to average drawdown | 0.66 | 25.91 | -25.25 |
Loading charts...
Drawdowns
GEAR.AX vs. SEMI.AX - Drawdown Comparison
The maximum GEAR.AX drawdown since its inception was -66.50%, which is greater than SEMI.AX's maximum drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for GEAR.AX and SEMI.AX.
Loading charts...
Drawdown Indicators
| GEAR.AX | SEMI.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.50% | -38.85% | -27.65% |
Max Drawdown (1Y)Largest decline over 1 year | -17.82% | -14.32% | -3.50% |
Max Drawdown (3Y)Largest decline over 3 years | -30.91% | -32.53% | +1.62% |
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% | -14.32% | +5.91% |
Average DrawdownAverage peak-to-trough decline | -12.21% | -10.86% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.40% | 4.48% | +3.92% |
Volatility
GEAR.AX vs. SEMI.AX - Volatility Comparison
The current volatility for Betashares Geared Australian Equities Complex ETF (GEAR.AX) is 5.08%, while Global X Semiconductor ETF (SEMI.AX) has a volatility of 15.14%. This indicates that GEAR.AX experiences smaller price fluctuations and is considered to be less risky than SEMI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GEAR.AX | SEMI.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 15.14% | -10.06% |
Volatility (6M)Calculated over the trailing 6-month period | 21.27% | 29.63% | -8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.91% | 34.76% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.72% | 31.62% | -1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.91% | 31.62% | +1.29% |
Dividends
GEAR.AX vs. SEMI.AX - Dividend Comparison
GEAR.AX's dividend yield for the trailing twelve months is around 0.57%, less than SEMI.AX's 7.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SEMI.AX Global X Semiconductor ETF | 7.62% | 5.60% | 3.44% | 0.54% | 0.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GEAR.AX and SEMI.AX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BetaShares and Global X.
Find the right allocation for GEAR.AX and SEMI.AX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer