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

GGUS.AX vs. BHYB.AX

Last updated Jul 18, 2026
Documentation

GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) and BHYB.AX (BetaShares Australian Major Bank Hybrids Index ETF) are both exchange-traded funds - GGUS.AX is a Global Equities fund actively managed by BetaShares, while BHYB.AX is a Preferred Stock/Convertible Bonds fund tracking the Solactive Australian Banking Preferred Shares Index. GGUS.AX is actively managed, while BHYB.AX is passively managed. Over the past 5 years, GGUS.AX returned 13.72%/yr vs 3.41%/yr for BHYB.AX. At a 0.06 correlation, their price movements are largely independent.

Performance

GGUS.AX vs. BHYB.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 Major Bank Hybrids Index ETF (BHYB.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 BHYB.AX's 1.65% 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%

BHYB.AX

1D
0.10%
1M
1.06%
6M
1.42%
YTD
1.65%
1Y
3.40%
3Y*
4.34%
5Y*
3.41%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		15.21%18.83%45.64%49.70%-47.20%32.51%
BHYB.AX
BetaShares Australian Major Bank Hybrids Index ETF		1.65%3.04%5.62%2.68%1.66%3.18%

Correlation

The correlation between GGUS.AX and BHYB.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

0.01

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

0.06

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2021

0.06

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Betashares Geared US Equities Currency Hedged Complex ETF

BetaShares Australian Major Bank Hybrids Index ETF

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Often compared with BHYB.AX:
BHYB.AX vs. EX20.AXBHYB.AX vs. FUEL.AXBHYB.AX vs. NDQ.AXBHYB.AX vs. QOZ.AXBHYB.AX vs. A200.AXBHYB.AX vs. ARMR.AXBHYB.AX vs. DHHF.AX

Return for Risk

GGUS.AX vs. BHYB.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
BHYB.AX
BHYB.AX Risk / Return Rank: 5555
Overall Rank
BHYB.AX Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
BHYB.AX Sortino Ratio Rank: 5050
Sortino Ratio Rank
BHYB.AX Omega Ratio Rank: 5252
Omega Ratio Rank
BHYB.AX Calmar Ratio Rank: 6969
Calmar Ratio Rank
BHYB.AX Martin Ratio Rank: 5252
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. BHYB.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 Major Bank Hybrids Index ETF (BHYB.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.AXBHYB.AXDifference
Sharpe ratioReturn per unit of total volatility
1.17
1.32

-0.15

Sortino ratioReturn per unit of downside risk
1.67
1.89

-0.22

Omega ratioGain probability vs. loss probability

1.23

1.25

-0.02

Calmar ratioReturn relative to maximum drawdown

1.71

2.58

-0.86

Martin ratioReturn relative to average drawdown

6.88

6.66

+0.22

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

The current GGUS.AX Sharpe Ratio is 1.17, which is comparable to the BHYB.AX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of GGUS.AX and BHYB.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. BHYB.AX - Drawdown Comparison

The maximum GGUS.AX drawdown since its inception was -64.26%, which is greater than BHYB.AX's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for GGUS.AX and BHYB.AX.

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Drawdown Indicators

GGUS.AXBHYB.AXDifference

Max Drawdown

Largest peak-to-trough decline

-64.26%

-5.16%

-59.10%

Max Drawdown (1Y)

Largest decline over 1 year

-20.90%

-1.29%

-19.61%

Max Drawdown (3Y)

Largest decline over 3 years

-46.78%

-2.62%

-44.16%

Max Drawdown (5Y)

Largest decline over 5 years

-55.53%

-5.16%

-50.37%

Max Drawdown (10Y)

Largest decline over 10 years

-64.26%

—

—

Current Drawdown

Current decline from peak

-4.40%

0.00%

-4.40%

Average Drawdown

Average peak-to-trough decline

-13.41%

-0.67%

-12.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.25%

0.50%

+4.75%

Volatility

GGUS.AX vs. BHYB.AX - Volatility Comparison

Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) has a higher volatility of 6.38% compared to BetaShares Australian Major Bank Hybrids Index ETF (BHYB.AX) at 0.72%. This indicates that GGUS.AX's price experiences larger fluctuations and is considered to be riskier than BHYB.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.AXBHYB.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.38%

0.72%

+5.66%

Volatility (6M)

Calculated over the trailing 6-month period

25.73%

1.99%

+23.74%

Volatility (1Y)

Calculated over the trailing 1-year period

30.52%

2.51%

+28.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.72%

3.32%

+38.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.74%

3.31%

+37.43%

Dividends

GGUS.AX vs. BHYB.AX - Dividend Comparison

GGUS.AX has not paid dividends to shareholders, while BHYB.AX's dividend yield for the trailing twelve months is around 3.33%.

PositionTTM2025202420232022202120202019201820172016
BHYB.AX
BetaShares Australian Major Bank Hybrids Index ETF		3.33%3.69%4.34%4.44%2.79%1.43%0.00%0.00%0.00%0.00%0.00%
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%

Frequently Asked Questions

GGUS.AX and BHYB.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 BHYB.AX is Preferred Stock/Convertible Bonds.

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