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

HEUR.AX vs. NDQ.AX

Last updated Jul 16, 2026
Documentation

HEUR.AX (Betashares Europe Currency Hedged ETF) and NDQ.AX (BetaShares NASDAQ 100 ETF) are both exchange-traded funds - HEUR.AX is a Europe Equities fund tracking the Betashares Europe Currency Hedged Index, while NDQ.AX is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, HEUR.AX returned 11.28%/yr vs 21.65%/yr for NDQ.AX. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

HEUR.AX vs. NDQ.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 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, HEUR.AX achieves a 9.92% return, which is significantly lower than NDQ.AX's 10.94% return. Over the past 10 years, HEUR.AX has underperformed NDQ.AX with an annualized return of 11.28%, while NDQ.AX has yielded a comparatively higher 21.65% 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%

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)

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

2026 (YTD)202520242023202220212020201920182017
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%
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 HEUR.AX and NDQ.AX is 0.52, 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

0.52

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

0.47

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

0.54

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

0.52

Correlation (All Time)
Calculated using the full available price history since May 10, 2016

0.51

The correlation between HEUR.AX and NDQ.AX has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Betashares Europe Currency Hedged ETF

BetaShares NASDAQ 100 ETF

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Return for Risk

HEUR.AX vs. NDQ.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
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.

HEUR.AX vs. NDQ.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 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.

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

-0.16

Sortino ratioReturn per unit of downside risk
1.68
1.82

-0.14

Omega ratioGain probability vs. loss probability

1.22

1.23

-0.01

Calmar ratioReturn relative to maximum drawdown

1.70

1.30

+0.40

Martin ratioReturn relative to average drawdown

6.26

3.30

+2.97

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

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

HEUR.AX vs. NDQ.AX - Drawdown Comparison

The maximum HEUR.AX drawdown since its inception was -44.04%, 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 HEUR.AX and NDQ.AX.

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Drawdown Indicators

HEUR.AXNDQ.AXDifference

Max Drawdown

Largest peak-to-trough decline

-44.04%

-30.79%

-13.25%

Max Drawdown (1Y)

Largest decline over 1 year

-11.41%

-15.17%

+3.76%

Max Drawdown (3Y)

Largest decline over 3 years

-15.99%

-21.27%

+5.28%

Max Drawdown (5Y)

Largest decline over 5 years

-24.20%

-30.79%

+6.59%

Max Drawdown (10Y)

Largest decline over 10 years

-44.04%

-30.79%

-13.25%

Current Drawdown

Current decline from peak

-2.35%

-3.79%

+1.44%

Average Drawdown

Average peak-to-trough decline

-5.07%

-5.85%

+0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.12%

6.08%

-2.96%

Volatility

HEUR.AX vs. NDQ.AX - Volatility Comparison

The current volatility for Betashares Europe Currency Hedged ETF (HEUR.AX) is 3.25%, while BetaShares NASDAQ 100 ETF (NDQ.AX) has a volatility of 5.30%. This indicates that HEUR.AX experiences smaller price fluctuations and is considered to be less risky 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

HEUR.AXNDQ.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.25%

5.30%

-2.05%

Volatility (6M)

Calculated over the trailing 6-month period

14.98%

11.69%

+3.29%

Volatility (1Y)

Calculated over the trailing 1-year period

16.99%

15.12%

+1.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

19.15%

-1.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.66%

19.15%

-0.49%

Dividends

HEUR.AX vs. NDQ.AX - Dividend Comparison

HEUR.AX's dividend yield for the trailing twelve months is around 4.29%, more than NDQ.AX's 1.47% yield.

PositionTTM2025202420232022202120202019201820172016
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%
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

HEUR.AX and NDQ.AX have a correlation of 0.52, 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 NDQ.AX is Nasdaq-100. HEUR.AX tracks Betashares Europe Currency Hedged Index, while NDQ.AX tracks NASDAQ-100 Index.

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