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IFRA.AX vs. SUBD.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IFRA.AX vs. SUBD.AX

Last updated Jul 16, 2026
Documentation

IFRA.AX (VanEck FTSE Global Infrastructure (AUD Hedged) ETF) and SUBD.AX (Vaneck Australian Subordinated Debt ETF) are both exchange-traded funds - IFRA.AX is a Global Equities fund tracking the VanEck FTSE Global Infrastructure (AUD Hedged) Index, while SUBD.AX is a High Yield Bonds fund tracking the iBoxx AUD Investment Grade Subordinated Debt Mid Price Index. Both are passively managed. Over the past 5 years, IFRA.AX returned 6.59%/yr vs 4.63%/yr for SUBD.AX. At a correlation of -0.02, they often move in opposite directions.

Performance

IFRA.AX vs. SUBD.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck FTSE Global Infrastructure (AUD Hedged) ETF (IFRA.AX) and Vaneck Australian Subordinated Debt ETF (SUBD.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, IFRA.AX achieves a 10.62% return, which is significantly higher than SUBD.AX's 3.04% return.

IFRA.AX

1D
-0.66%
1M
-0.16%
6M
11.95%
YTD
10.62%
1Y
16.33%
3Y*
11.07%
5Y*
6.59%
10Y*
6.41%

SUBD.AX

1D
0.04%
1M
0.80%
6M
2.67%
YTD
3.04%
1Y
6.00%
3Y*
6.36%
5Y*
4.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IFRA.AX vs. SUBD.AX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IFRA.AX
VanEck FTSE Global Infrastructure (AUD Hedged) ETF		10.62%11.93%10.70%-1.66%-4.04%16.80%-8.44%1.00%
SUBD.AX
Vaneck Australian Subordinated Debt ETF		3.04%5.55%7.13%7.11%0.27%2.12%2.39%0.59%

Correlation

The correlation between IFRA.AX and SUBD.AX is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.10

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

-0.04

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

-0.04

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2019

-0.02

Compare stocks, funds, or ETFs

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VanEck FTSE Global Infrastructure (AUD Hedged) ETF

Vaneck Australian Subordinated Debt ETF

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SUBD.AX vs. ERNS.LSUBD.AX vs. ZFH.TOSUBD.AX vs. CSH2.L

Return for Risk

IFRA.AX vs. SUBD.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IFRA.AX
IFRA.AX Risk / Return Rank: 5858
Overall Rank
IFRA.AX Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IFRA.AX Sortino Ratio Rank: 5555
Sortino Ratio Rank
IFRA.AX Omega Ratio Rank: 5252
Omega Ratio Rank
IFRA.AX Calmar Ratio Rank: 7373
Calmar Ratio Rank
IFRA.AX Martin Ratio Rank: 5555
Martin Ratio Rank
SUBD.AX
SUBD.AX Risk / Return Rank: 9999
Overall Rank
SUBD.AX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
SUBD.AX Sortino Ratio Rank: 9999
Sortino Ratio Rank
SUBD.AX Omega Ratio Rank: 9999
Omega Ratio Rank
SUBD.AX Calmar Ratio Rank: 9999
Calmar Ratio Rank
SUBD.AX Martin Ratio Rank: 9999
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.

IFRA.AX vs. SUBD.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck FTSE Global Infrastructure (AUD Hedged) ETF (IFRA.AX) and Vaneck Australian Subordinated Debt ETF (SUBD.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.

IFRA.AXSUBD.AXDifference
Sharpe ratioReturn per unit of total volatility
1.52
6.73

-5.22

Sortino ratioReturn per unit of downside risk
2.19
12.70

-10.51

Omega ratioGain probability vs. loss probability

1.27

3.06

-1.79

Calmar ratioReturn relative to maximum drawdown

2.99

24.82

-21.83

Martin ratioReturn relative to average drawdown

7.68

101.01

-93.33

IFRA.AX vs. SUBD.AX - Sharpe Ratio Comparison

The current IFRA.AX Sharpe Ratio is 1.52, which is lower than the SUBD.AX Sharpe Ratio of 6.73. The chart below compares the historical Sharpe Ratios of IFRA.AX and SUBD.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

IFRA.AX vs. SUBD.AX - Drawdown Comparison

The maximum IFRA.AX drawdown since its inception was -36.36%, which is greater than SUBD.AX's maximum drawdown of -10.85%. Use the drawdown chart below to compare losses from any high point for IFRA.AX and SUBD.AX.

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Drawdown Indicators

IFRA.AXSUBD.AXDifference

Max Drawdown

Largest peak-to-trough decline

-36.36%

-10.85%

-25.51%

Max Drawdown (1Y)

Largest decline over 1 year

-5.54%

-0.24%

-5.30%

Max Drawdown (3Y)

Largest decline over 3 years

-12.79%

-1.19%

-11.60%

Max Drawdown (5Y)

Largest decline over 5 years

-21.19%

-2.99%

-18.20%

Max Drawdown (10Y)

Largest decline over 10 years

-36.36%

—

—

Current Drawdown

Current decline from peak

-1.65%

0.00%

-1.65%

Average Drawdown

Average peak-to-trough decline

-6.01%

-0.44%

-5.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.20%

0.06%

+2.14%

Volatility

IFRA.AX vs. SUBD.AX - Volatility Comparison

VanEck FTSE Global Infrastructure (AUD Hedged) ETF (IFRA.AX) has a higher volatility of 3.82% compared to Vaneck Australian Subordinated Debt ETF (SUBD.AX) at 0.27%. This indicates that IFRA.AX's price experiences larger fluctuations and is considered to be riskier than SUBD.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IFRA.AXSUBD.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

0.27%

+3.55%

Volatility (6M)

Calculated over the trailing 6-month period

9.13%

0.64%

+8.49%

Volatility (1Y)

Calculated over the trailing 1-year period

10.95%

0.88%

+10.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.30%

1.35%

+12.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.06%

4.76%

+10.30%

Dividends

IFRA.AX vs. SUBD.AX - Dividend Comparison

IFRA.AX's dividend yield for the trailing twelve months is around 2.23%, less than SUBD.AX's 5.35% yield.

PositionTTM2025202420232022202120202019201820172016
IFRA.AX
VanEck FTSE Global Infrastructure (AUD Hedged) ETF		2.23%3.15%1.61%2.51%2.31%2.93%3.58%3.29%2.91%2.11%1.60%
SUBD.AX
Vaneck Australian Subordinated Debt ETF		5.35%5.54%5.85%5.13%2.60%1.90%2.01%0.18%0.00%0.00%0.00%

Frequently Asked Questions

IFRA.AX and SUBD.AX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IFRA.AX is categorized as Global Equities, while SUBD.AX is High Yield Bonds. IFRA.AX tracks VanEck FTSE Global Infrastructure (AUD Hedged) Index, while SUBD.AX tracks iBoxx AUD Investment Grade Subordinated Debt Mid Price Index.

Portfolio Optimizer

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