HEUR.AX vs. GGUS.AX
HEUR.AX (Betashares Europe Currency Hedged ETF) and GGUS.AX (Betashares Geared US Equities Currency Hedged Complex ETF) are both exchange-traded funds - HEUR.AX is a Europe Equities fund tracking the Betashares Europe Currency Hedged Index, while GGUS.AX is a Global Equities fund actively managed by BetaShares. HEUR.AX is passively managed, while GGUS.AX is actively managed. Over the past 10 years, HEUR.AX returned 11.28%/yr vs 21.27%/yr for GGUS.AX. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
HEUR.AX vs. GGUS.AX - Performance Comparison
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Returns By Period
In the year-to-date period, HEUR.AX achieves a 9.92% return, which is significantly lower than GGUS.AX's 18.74% return. Over the past 10 years, HEUR.AX has underperformed GGUS.AX with an annualized return of 11.28%, while GGUS.AX has yielded a comparatively higher 21.27% annualized 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%
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%
HEUR.AX vs. GGUS.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEUR.AX Betashares Europe Currency Hedged ETF | 9.92% | 22.18% | 8.27% | 17.82% | -9.24% | 26.28% | 7.76% | 26.01% | -14.73% | 15.30% |
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% |
Correlation
The correlation between HEUR.AX and GGUS.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 | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 10, 2016 | 0.70 |
The correlation between HEUR.AX and GGUS.AX has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
HEUR.AX vs. GGUS.AX — Risk / Return Rank
HEUR.AX
GGUS.AX
HEUR.AX vs. GGUS.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 Geared US Equities Currency Hedged Complex ETF (GGUS.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.AX | GGUS.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.00 | -0.30 |
| Martin ratioReturn relative to average drawdown | 6.26 | 8.05 | -1.79 |
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Drawdowns
HEUR.AX vs. GGUS.AX - Drawdown Comparison
The maximum HEUR.AX drawdown since its inception was -44.04%, smaller than the maximum GGUS.AX drawdown of -64.26%. Use the drawdown chart below to compare losses from any high point for HEUR.AX and GGUS.AX.
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Drawdown Indicators
| HEUR.AX | GGUS.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.04% | -64.26% | +20.22% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -20.90% | +9.49% |
Max Drawdown (3Y)Largest decline over 3 years | -15.99% | -46.78% | +30.79% |
Max Drawdown (5Y)Largest decline over 5 years | -24.20% | -55.53% | +31.33% |
Max Drawdown (10Y)Largest decline over 10 years | -44.04% | -64.26% | +20.22% |
Current DrawdownCurrent decline from peak | -2.35% | -1.47% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -5.07% | -13.41% | +8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 5.24% | -2.12% |
Volatility
HEUR.AX vs. GGUS.AX - Volatility Comparison
The current volatility for Betashares Europe Currency Hedged ETF (HEUR.AX) is 3.25%, while Betashares Geared US Equities Currency Hedged Complex ETF (GGUS.AX) has a volatility of 5.85%. This indicates that HEUR.AX experiences smaller price fluctuations and is considered to be less risky than GGUS.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.AX | GGUS.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 5.85% | -2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.98% | 25.54% | -10.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.99% | 30.44% | -13.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 41.72% | -24.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.66% | 40.73% | -22.07% |
Dividends
HEUR.AX vs. GGUS.AX - Dividend Comparison
HEUR.AX's dividend yield for the trailing twelve months is around 4.29%, while GGUS.AX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 GGUS.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.
HEUR.AX is categorized as Europe Equities, while GGUS.AX is Global Equities.
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