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HEUR.AX vs. DHHF.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HEUR.AX vs. DHHF.AX

Last updated Jul 16, 2026
Documentation

HEUR.AX (Betashares Europe Currency Hedged ETF) and DHHF.AX (Betashares Diversified All Growth ETF) are both exchange-traded funds - HEUR.AX is a Europe Equities fund tracking the Betashares Europe Currency Hedged Index, while DHHF.AX is a Large Cap Growth Equities fund actively managed by BetaShares. HEUR.AX is passively managed, while DHHF.AX is actively managed. Over the past 5 years, HEUR.AX returned 10.37%/yr vs 10.21%/yr for DHHF.AX. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

HEUR.AX vs. DHHF.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Europe Currency Hedged ETF (HEUR.AX) and Betashares Diversified All Growth ETF (DHHF.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, HEUR.AX achieves a 9.92% return, which is significantly higher than DHHF.AX's 5.55% return.

HEUR.AX

1D
0.11%
1M
-1.09%
6M
5.42%
YTD
9.92%
1Y
18.91%
3Y*
14.26%
5Y*
10.37%
10Y*
11.28%

DHHF.AX

1D
0.05%
1M
0.37%
6M
3.82%
YTD
5.55%
1Y
11.87%
3Y*
14.86%
5Y*
10.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HEUR.AX vs. DHHF.AX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
HEUR.AX
Betashares Europe Currency Hedged ETF		9.92%22.18%8.27%17.82%-9.24%26.28%7.76%1.03%
DHHF.AX
Betashares Diversified All Growth ETF		5.55%11.88%21.74%17.00%-8.93%23.07%3.80%0.84%

Correlation

The correlation between HEUR.AX and DHHF.AX is 0.66, 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

0.66

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

0.62

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

0.67

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2019

0.65

The correlation between HEUR.AX and DHHF.AX has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Betashares Europe Currency Hedged ETF

Betashares Diversified All Growth ETF

Often compared with DHHF.AX:
DHHF.AX vs. VDHG.AXDHHF.AX vs. A200.AXDHHF.AX vs. NDQ.AXDHHF.AX vs. BGBDHHF.AX vs. XMEDHHF.AX vs. XARDHHF.AX vs. SCHD

Return for Risk

HEUR.AX vs. DHHF.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HEUR.AX
HEUR.AX Risk / Return Rank: 4040
Overall Rank
HEUR.AX Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
HEUR.AX Sortino Ratio Rank: 3838
Sortino Ratio Rank
HEUR.AX Omega Ratio Rank: 3939
Omega Ratio Rank
HEUR.AX Calmar Ratio Rank: 4040
Calmar Ratio Rank
HEUR.AX Martin Ratio Rank: 4646
Martin Ratio Rank
DHHF.AX
DHHF.AX Risk / Return Rank: 4343
Overall Rank
DHHF.AX Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
DHHF.AX Sortino Ratio Rank: 4343
Sortino Ratio Rank
DHHF.AX Omega Ratio Rank: 4747
Omega Ratio Rank
DHHF.AX Calmar Ratio Rank: 3737
Calmar Ratio Rank
DHHF.AX Martin Ratio Rank: 4141
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.

HEUR.AX vs. DHHF.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Europe Currency Hedged ETF (HEUR.AX) and Betashares Diversified All Growth ETF (DHHF.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.

HEUR.AXDHHF.AXDifference
Sharpe ratioReturn per unit of total volatility
1.14
1.31

-0.16

Sortino ratioReturn per unit of downside risk
1.68
1.84

-0.16

Omega ratioGain probability vs. loss probability

1.22

1.25

-0.03

Calmar ratioReturn relative to maximum drawdown

1.70

1.56

+0.14

Martin ratioReturn relative to average drawdown

6.26

5.40

+0.86

HEUR.AX vs. DHHF.AX - Sharpe Ratio Comparison

The current HEUR.AX Sharpe Ratio is 1.14, which is comparable to the DHHF.AX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of HEUR.AX and DHHF.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

HEUR.AX vs. DHHF.AX - Drawdown Comparison

The maximum HEUR.AX drawdown since its inception was -44.04%, which is greater than DHHF.AX's maximum drawdown of -28.54%. Use the drawdown chart below to compare losses from any high point for HEUR.AX and DHHF.AX.

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Drawdown Indicators

HEUR.AXDHHF.AXDifference

Max Drawdown

Largest peak-to-trough decline

-44.04%

-28.54%

-15.50%

Max Drawdown (1Y)

Largest decline over 1 year

-11.41%

-8.03%

-3.38%

Max Drawdown (3Y)

Largest decline over 3 years

-15.99%

-13.49%

-2.50%

Max Drawdown (5Y)

Largest decline over 5 years

-24.20%

-17.30%

-6.90%

Max Drawdown (10Y)

Largest decline over 10 years

-44.04%

—

—

Current Drawdown

Current decline from peak

-2.35%

-0.33%

-2.02%

Average Drawdown

Average peak-to-trough decline

-5.07%

-4.11%

-0.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.12%

2.32%

+0.80%

Volatility

HEUR.AX vs. DHHF.AX - Volatility Comparison

Betashares Europe Currency Hedged ETF (HEUR.AX) has a higher volatility of 3.25% compared to Betashares Diversified All Growth ETF (DHHF.AX) at 1.67%. This indicates that HEUR.AX's price experiences larger fluctuations and is considered to be riskier than DHHF.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HEUR.AXDHHF.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.25%

1.67%

+1.58%

Volatility (6M)

Calculated over the trailing 6-month period

14.98%

7.59%

+7.39%

Volatility (1Y)

Calculated over the trailing 1-year period

16.99%

9.60%

+7.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

11.12%

+6.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.66%

13.10%

+5.56%

Dividends

HEUR.AX vs. DHHF.AX - Dividend Comparison

HEUR.AX's dividend yield for the trailing twelve months is around 4.29%, more than DHHF.AX's 1.99% yield.

PositionTTM2025202420232022202120202019201820172016
DHHF.AX
Betashares Diversified All Growth ETF		1.99%2.13%1.99%2.38%4.24%1.28%1.25%0.00%0.00%0.00%0.00%
HEUR.AX
Betashares Europe Currency Hedged ETF		4.29%0.15%2.81%0.00%9.62%7.08%19.54%0.00%0.00%1.85%1.00%

Frequently Asked Questions

HEUR.AX and DHHF.AX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HEUR.AX is categorized as Europe Equities, while DHHF.AX is Large Cap Growth Equities.

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