IAA.AX vs. USD.AX
IAA.AX (iShares Asia 50 ETF (AU)) and USD.AX (BetaShares U.S. Dollar ETF) are both Global Equities funds - IAA.AX tracks the iShares Asia 50 Index while USD.AX tracks the BetaShares U.S. Dollar Index. Both are passively managed. Over the past 10 years, IAA.AX returned 13.80%/yr vs 2.65%/yr for USD.AX. At a correlation of -0.07, they often move in opposite directions.
Performance
IAA.AX vs. USD.AX - Performance Comparison
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Returns By Period
In the year-to-date period, IAA.AX achieves a 26.96% return, which is significantly higher than USD.AX's -2.28% return. Over the past 10 years, IAA.AX has outperformed USD.AX with an annualized return of 13.80%, while USD.AX has yielded a comparatively lower 2.65% annualized return.
IAA.AX
- 1D
- -6.06%
- 1M
- -10.93%
- 6M
- 16.30%
- YTD
- 26.96%
- 1Y
- 48.36%
- 3Y*
- 28.73%
- 5Y*
- 10.89%
- 10Y*
- 13.80%
USD.AX
- 1D
- 0.21%
- 1M
- 1.46%
- 6M
- -2.21%
- YTD
- -2.28%
- 1Y
- -3.95%
- 3Y*
- 3.53%
- 5Y*
- 4.51%
- 10Y*
- 2.65%
IAA.AX vs. USD.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAA.AX iShares Asia 50 ETF (AU) | 26.96% | 36.38% | 29.68% | 1.92% | -17.59% | -5.27% | 22.79% | 22.16% | -4.60% | 34.31% |
USD.AX BetaShares U.S. Dollar ETF | -2.28% | -3.37% | 15.22% | 3.37% | 8.32% | 5.76% | -8.86% | 2.76% | 11.63% | -7.20% |
Correlation
The correlation between IAA.AX and USD.AX is -0.35, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2011 | -0.07 |
Over the past year, the inverse relationship between IAA.AX and USD.AX has strengthened: their correlation has moved from -0.07 to -0.35, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IAA.AX vs. USD.AX — Risk / Return Rank
IAA.AX
USD.AX
IAA.AX vs. USD.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Asia 50 ETF (AU) (IAA.AX) and BetaShares U.S. Dollar ETF (USD.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.
| IAA.AX | USD.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.94 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | -0.39 | +3.60 |
| Martin ratioReturn relative to average drawdown | 11.22 | -0.71 | +11.93 |
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Drawdowns
IAA.AX vs. USD.AX - Drawdown Comparison
The maximum IAA.AX drawdown since its inception was -44.90%, which is greater than USD.AX's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for IAA.AX and USD.AX.
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Drawdown Indicators
| IAA.AX | USD.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.90% | -30.05% | -14.85% |
Max Drawdown (1Y)Largest decline over 1 year | -14.31% | -9.84% | -4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -14.54% | -3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -39.91% | -14.54% | -25.37% |
Max Drawdown (10Y)Largest decline over 10 years | -44.90% | -30.05% | -14.85% |
Current DrawdownCurrent decline from peak | -14.31% | -10.55% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -9.62% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 5.50% | -1.32% |
Volatility
IAA.AX vs. USD.AX - Volatility Comparison
iShares Asia 50 ETF (AU) (IAA.AX) has a higher volatility of 14.55% compared to BetaShares U.S. Dollar ETF (USD.AX) at 1.68%. This indicates that IAA.AX's price experiences larger fluctuations and is considered to be riskier than USD.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAA.AX | USD.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.55% | 1.68% | +12.87% |
Volatility (6M)Calculated over the trailing 6-month period | 24.36% | 7.32% | +17.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.53% | 9.45% | +17.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.20% | 11.02% | +11.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.43% | 10.56% | +8.87% |
Dividends
IAA.AX vs. USD.AX - Dividend Comparison
IAA.AX's dividend yield for the trailing twelve months is around 1.06%, while USD.AX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IAA.AX iShares Asia 50 ETF (AU) | 1.06% | 2.16% | 0.44% | 1.36% | 3.40% | 1.68% | 1.18% | 4.31% | 0.48% | 1.28% | 1.78% |
USD.AX BetaShares U.S. Dollar ETF | 0.00% | 2.53% | 3.89% | 3.39% | 0.00% | 0.00% | 1.19% | 2.37% | 0.76% | 0.17% | 0.08% |
Frequently Asked Questions
IAA.AX and USD.AX have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAA.AX tracks iShares Asia 50 Index, while USD.AX tracks BetaShares U.S. Dollar Index. They also come from different issuers: iShares and BetaShares.
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