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GGUS.AX vs. AAA.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GGUS.AX vs. AAA.AX

Last updated Jul 18, 2026
Documentation

GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) and AAA.AX (BetaShares Australian High Interest Cash ETF) are both exchange-traded funds - GGUS.AX is a Global Equities fund actively managed by BetaShares, while AAA.AX is a Money Market fund actively managed by BetaShares. Both are actively managed. Over the past 10 years, GGUS.AX returned 20.86%/yr vs 2.13%/yr for AAA.AX. At a 0.01 correlation, their price movements are largely independent.

Performance

GGUS.AX vs. AAA.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) and BetaShares Australian High Interest Cash ETF (AAA.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, GGUS.AX achieves a 15.21% return, which is significantly higher than AAA.AX's 1.62% return. Over the past 10 years, GGUS.AX has outperformed AAA.AX with an annualized return of 20.86%, while AAA.AX has yielded a comparatively lower 2.13% annualized return.

GGUS.AX

1D
-2.97%
1M
-2.35%
6M
12.93%
YTD
15.21%
1Y
36.63%
3Y*
29.41%
5Y*
13.72%
10Y*
20.86%

AAA.AX

1D
0.02%
1M
0.39%
6M
1.45%
YTD
1.62%
1Y
3.07%
3Y*
3.74%
5Y*
2.90%
10Y*
2.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GGUS.AX vs. AAA.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		15.21%18.83%45.64%49.70%-47.20%68.07%17.37%70.51%-21.12%45.08%
AAA.AX
BetaShares Australian High Interest Cash ETF		1.62%3.76%3.87%3.75%1.38%0.35%0.74%1.69%1.87%1.39%

Correlation

The correlation between GGUS.AX and AAA.AX is 0.05, 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

0.05

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

0.03

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

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Aug 17, 2015

0.01

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Betashares Geared US Equities Currency Hedged Complex ETF

BetaShares Australian High Interest Cash ETF

Often compared with GGUS.AX:
GGUS.AX vs. DHHF.AXGGUS.AX vs. EX20.AXGGUS.AX vs. F100.AXGGUS.AX vs. FOOD.AXGGUS.AX vs. FUEL.AXGGUS.AX vs. GEAR.AXGGUS.AX vs. GNDQ.AX
Often compared with AAA.AX:
AAA.AX vs. ARMR.AXAAA.AX vs. A200.AXAAA.AX vs. DHHF.AXAAA.AX vs. EX20.AXAAA.AX vs. FOOD.AXAAA.AX vs. GEAR.AXAAA.AX vs. NDQ.AX

Return for Risk

GGUS.AX vs. AAA.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GGUS.AX
GGUS.AX Risk / Return Rank: 4646
Overall Rank
GGUS.AX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
GGUS.AX Sortino Ratio Rank: 4242
Sortino Ratio Rank
GGUS.AX Omega Ratio Rank: 4747
Omega Ratio Rank
GGUS.AX Calmar Ratio Rank: 4343
Calmar Ratio Rank
GGUS.AX Martin Ratio Rank: 5454
Martin Ratio Rank
AAA.AX
AAA.AX Risk / Return Rank: 9898
Overall Rank
AAA.AX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
AAA.AX Sortino Ratio Rank: 9797
Sortino Ratio Rank
AAA.AX Omega Ratio Rank: 9999
Omega Ratio Rank
AAA.AX Calmar Ratio Rank: 9898
Calmar Ratio Rank
AAA.AX Martin Ratio Rank: 9797
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.

GGUS.AX vs. AAA.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) and BetaShares Australian High Interest Cash ETF (AAA.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.

GGUS.AXAAA.AXDifference
Sharpe ratioReturn per unit of total volatility
1.17
4.08

-2.91

Sortino ratioReturn per unit of downside risk
1.67
5.34

-3.67

Omega ratioGain probability vs. loss probability

1.23

2.81

-1.58

Calmar ratioReturn relative to maximum drawdown

1.71

9.37

-7.66

Martin ratioReturn relative to average drawdown

6.88

30.00

-23.11

GGUS.AX vs. AAA.AX - Sharpe Ratio Comparison

The current GGUS.AX Sharpe Ratio is 1.17, which is lower than the AAA.AX Sharpe Ratio of 4.08. The chart below compares the historical Sharpe Ratios of GGUS.AX and AAA.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

GGUS.AX vs. AAA.AX - Drawdown Comparison

The maximum GGUS.AX drawdown since its inception was -64.26%, which is greater than AAA.AX's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for GGUS.AX and AAA.AX.

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Drawdown Indicators

GGUS.AXAAA.AXDifference

Max Drawdown

Largest peak-to-trough decline

-64.26%

-0.36%

-63.90%

Max Drawdown (1Y)

Largest decline over 1 year

-20.90%

-0.32%

-20.58%

Max Drawdown (3Y)

Largest decline over 3 years

-46.78%

-0.32%

-46.46%

Max Drawdown (5Y)

Largest decline over 5 years

-55.53%

-0.32%

-55.21%

Max Drawdown (10Y)

Largest decline over 10 years

-64.26%

-0.32%

-63.94%

Current Drawdown

Current decline from peak

-4.40%

0.00%

-4.40%

Average Drawdown

Average peak-to-trough decline

-13.41%

-0.06%

-13.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.25%

0.10%

+5.15%

Volatility

GGUS.AX vs. AAA.AX - Volatility Comparison

Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) has a higher volatility of 6.38% compared to BetaShares Australian High Interest Cash ETF (AAA.AX) at 0.09%. This indicates that GGUS.AX's price experiences larger fluctuations and is considered to be riskier than AAA.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GGUS.AXAAA.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.38%

0.09%

+6.29%

Volatility (6M)

Calculated over the trailing 6-month period

25.73%

0.65%

+25.08%

Volatility (1Y)

Calculated over the trailing 1-year period

30.52%

0.73%

+29.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.72%

0.50%

+41.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.74%

0.48%

+40.26%

Dividends

GGUS.AX vs. AAA.AX - Dividend Comparison

GGUS.AX has not paid dividends to shareholders, while AAA.AX's dividend yield for the trailing twelve months is around 3.06%.

PositionTTM20252024202320222021202020192018201720162015
AAA.AX
BetaShares Australian High Interest Cash ETF		3.06%3.77%3.73%3.56%1.13%0.35%0.82%1.74%1.87%1.36%1.68%1.54%
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		0.00%1.69%0.00%0.00%6.12%2.52%0.00%0.12%0.96%0.62%0.89%0.00%

Frequently Asked Questions

GGUS.AX and AAA.AX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GGUS.AX is categorized as Global Equities, while AAA.AX is Money Market.

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