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

GGUS.AX vs. NDQ.AX

Last updated Jul 16, 2026
Documentation

GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) and NDQ.AX (BetaShares NASDAQ 100 ETF) are both exchange-traded funds - GGUS.AX is a Global Equities fund actively managed by BetaShares, while NDQ.AX is a Nasdaq-100 fund tracking the NASDAQ-100 Index. GGUS.AX is actively managed, while NDQ.AX is passively managed. Over the past 10 years, GGUS.AX returned 21.27%/yr vs 21.65%/yr for NDQ.AX. A 0.70 correlation means they provide meaningful diversification when combined.

Performance

GGUS.AX vs. NDQ.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 NASDAQ 100 ETF (NDQ.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 18.74% return, which is significantly higher than NDQ.AX's 10.94% return. Both investments have delivered pretty close results over the past 10 years, with GGUS.AX having a 21.27% annualized return and NDQ.AX not far ahead at 21.65%.

GGUS.AX

1D
0.25%
1M
0.33%
6M
16.82%
YTD
18.74%
1Y
39.79%
3Y*
31.10%
5Y*
14.41%
10Y*
21.27%

NDQ.AX

1D
-1.45%
1M
-1.46%
6M
9.73%
YTD
10.94%
1Y
20.18%
3Y*
22.74%
5Y*
16.34%
10Y*
21.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
GGUS.AX
Betashares Geared US Equities Currency Hedged Complex ETF		18.74%18.83%45.64%49.70%-47.20%68.07%17.37%70.51%-21.12%45.08%
NDQ.AX
BetaShares NASDAQ 100 ETF		10.94%11.35%38.19%53.22%-28.42%35.46%34.50%39.66%8.97%21.59%

Correlation

The correlation between GGUS.AX and NDQ.AX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

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

0.74

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

0.76

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

0.72

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

0.70

The correlation between GGUS.AX and NDQ.AX has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

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Betashares Geared US Equities Currency Hedged Complex ETF

BetaShares NASDAQ 100 ETF

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Return for Risk

GGUS.AX vs. NDQ.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: 4949
Overall Rank
GGUS.AX Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
GGUS.AX Sortino Ratio Rank: 4444
Sortino Ratio Rank
GGUS.AX Omega Ratio Rank: 5050
Omega Ratio Rank
GGUS.AX Calmar Ratio Rank: 4848
Calmar Ratio Rank
GGUS.AX Martin Ratio Rank: 5757
Martin Ratio Rank
NDQ.AX
NDQ.AX Risk / Return Rank: 3939
Overall Rank
NDQ.AX Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
NDQ.AX Sortino Ratio Rank: 4343
Sortino Ratio Rank
NDQ.AX Omega Ratio Rank: 4444
Omega Ratio Rank
NDQ.AX Calmar Ratio Rank: 3232
Calmar Ratio Rank
NDQ.AX Martin Ratio Rank: 2929
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. NDQ.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 NASDAQ 100 ETF (NDQ.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.AXNDQ.AXDifference
Sharpe ratioReturn per unit of total volatility
1.38
1.31

+0.07

Sortino ratioReturn per unit of downside risk
1.89
1.82

+0.08

Omega ratioGain probability vs. loss probability

1.26

1.23

+0.03

Calmar ratioReturn relative to maximum drawdown

2.00

1.30

+0.70

Martin ratioReturn relative to average drawdown

8.05

3.30

+4.75

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

The current GGUS.AX Sharpe Ratio is 1.38, which is comparable to the NDQ.AX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of GGUS.AX and NDQ.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. NDQ.AX - Drawdown Comparison

The maximum GGUS.AX drawdown since its inception was -64.26%, which is greater than NDQ.AX's maximum drawdown of -30.79%. Use the drawdown chart below to compare losses from any high point for GGUS.AX and NDQ.AX.

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Drawdown Indicators

GGUS.AXNDQ.AXDifference

Max Drawdown

Largest peak-to-trough decline

-64.26%

-30.79%

-33.47%

Max Drawdown (1Y)

Largest decline over 1 year

-20.90%

-15.17%

-5.73%

Max Drawdown (3Y)

Largest decline over 3 years

-46.78%

-21.27%

-25.51%

Max Drawdown (5Y)

Largest decline over 5 years

-55.53%

-30.79%

-24.74%

Max Drawdown (10Y)

Largest decline over 10 years

-64.26%

-30.79%

-33.47%

Current Drawdown

Current decline from peak

-1.47%

-3.79%

+2.32%

Average Drawdown

Average peak-to-trough decline

-13.41%

-5.85%

-7.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.24%

6.08%

-0.84%

Volatility

GGUS.AX vs. NDQ.AX - Volatility Comparison

Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) has a higher volatility of 5.85% compared to BetaShares NASDAQ 100 ETF (NDQ.AX) at 5.30%. This indicates that GGUS.AX's price experiences larger fluctuations and is considered to be riskier than NDQ.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.AXNDQ.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.85%

5.30%

+0.55%

Volatility (6M)

Calculated over the trailing 6-month period

25.54%

11.69%

+13.85%

Volatility (1Y)

Calculated over the trailing 1-year period

30.44%

15.12%

+15.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.72%

19.15%

+22.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.73%

19.15%

+21.58%

Dividends

GGUS.AX vs. NDQ.AX - Dividend Comparison

GGUS.AX has not paid dividends to shareholders, while NDQ.AX's dividend yield for the trailing twelve months is around 1.47%.

PositionTTM2025202420232022202120202019201820172016
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%
NDQ.AX
BetaShares NASDAQ 100 ETF		1.47%0.93%1.81%2.09%3.36%3.33%2.47%2.22%0.37%0.25%0.40%

Frequently Asked Questions

GGUS.AX and NDQ.AX have a correlation of 0.74, 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 NDQ.AX is Nasdaq-100.

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