IFRA.AX vs. USD.AX

Last updated Jul 18, 2026

IFRA.AX (VanEck FTSE Global Infrastructure (AUD Hedged) ETF) and USD.AX (BetaShares U.S. Dollar ETF) are both Global Equities funds - IFRA.AX tracks the VanEck FTSE Global Infrastructure (AUD Hedged) Index while USD.AX tracks the BetaShares U.S. Dollar Index. Both are passively managed. Over the past 10 years, IFRA.AX returned 6.53%/yr vs 2.65%/yr for USD.AX. At a correlation of -0.26, they often move in opposite directions.

Performance

IFRA.AX vs. USD.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 BetaShares U.S. Dollar ETF (USD.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IFRA.AX achieves a 11.92% return, which is significantly higher than USD.AX's -2.28% return. Over the past 10 years, IFRA.AX has outperformed USD.AX with an annualized return of 6.53%, while USD.AX has yielded a comparatively lower 2.65% annualized return.

IFRA.AX

• 1D: 1.17%
• 1M: 1.68%
• 6M: 11.35%
• YTD: 11.92%
• 1Y: 17.64%
• 3Y*: 11.93%
• 5Y*: 6.84%
• 10Y*: 6.53%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IFRA.AX VanEck FTSE Global Infrastructure (AUD Hedged) ETF	11.92%	11.93%	10.70%	-1.66%	-4.04%	16.80%	-8.44%	23.88%	-3.41%	13.75%
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 IFRA.AX and USD.AX is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.16
Correlation (5Y) Calculated over the trailing 5-year period	-0.27
Correlation (10Y) Calculated over the trailing 10-year period	-0.26
Correlation (All Time) Calculated using the full available price history since Apr 29, 2016	-0.26

Over the past year, the inverse relationship between IFRA.AX and USD.AX has weakened: their correlation has moved from -0.26 to -0.03, meaning they move in opposite directions less often than they have historically.

Return for Risk

IFRA.AX vs. USD.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: 65
IFRA.AX Sharpe Ratio Rank: 62
IFRA.AX Sortino Ratio Rank: 63
IFRA.AX Omega Ratio Rank: 60
IFRA.AX Calmar Ratio Rank: 79
IFRA.AX Martin Ratio Rank: 60

USD.AX

USD.AX Risk / Return Rank: 6
USD.AX Sharpe Ratio Rank: 6
USD.AX Sortino Ratio Rank: 6
USD.AX Omega Ratio Rank: 6
USD.AX Calmar Ratio Rank: 6
USD.AX Martin Ratio Rank: 6

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. USD.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 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.

	IFRA.AX	USD.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	-0.41	+1.96
Sortino ratio: Return per unit of downside risk	2.23	-0.50	+2.72
Omega ratio: Gain probability vs. loss probability	1.28	0.94	+0.34
Calmar ratio: Return relative to maximum drawdown	3.05	-0.39	+3.45
Martin ratio: Return relative to average drawdown	7.84	-0.71	+8.55

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

The current IFRA.AX Sharpe Ratio is 1.55, which is higher than the USD.AX Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of IFRA.AX and USD.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.

Drawdowns

IFRA.AX vs. USD.AX - Drawdown Comparison

The maximum IFRA.AX drawdown since its inception was -36.36%, 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 IFRA.AX and USD.AX.

Drawdown Indicators

	IFRA.AX	USD.AX	Difference
Max Drawdown Largest peak-to-trough decline	-36.36%	-30.05%	-6.31%
Max Drawdown (1Y) Largest decline over 1 year	-5.54%	-9.84%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.79%	-14.54%	+1.75%
Max Drawdown (5Y) Largest decline over 5 years	-21.19%	-14.54%	-6.65%
Max Drawdown (10Y) Largest decline over 10 years	-36.36%	-30.05%	-6.31%
Current Drawdown Current decline from peak	-0.50%	-10.55%	+10.05%
Average Drawdown Average peak-to-trough decline	-6.01%	-9.62%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	5.50%	-3.30%

Volatility

IFRA.AX vs. USD.AX - Volatility Comparison

VanEck FTSE Global Infrastructure (AUD Hedged) ETF (IFRA.AX) has a higher volatility of 3.75% compared to BetaShares U.S. Dollar ETF (USD.AX) at 1.68%. This indicates that IFRA.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.

Volatility by Period

	IFRA.AX	USD.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	1.68%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	9.18%	7.32%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.97%	9.45%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	11.02%	+3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.07%	10.56%	+4.51%

Dividends

IFRA.AX vs. USD.AX - Dividend Comparison

IFRA.AX's dividend yield for the trailing twelve months is around 2.20%, while USD.AX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IFRA.AX VanEck FTSE Global Infrastructure (AUD Hedged) ETF	2.20%	3.15%	1.61%	2.51%	2.31%	2.93%	3.58%	3.29%	2.91%	2.11%	1.60%
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

Can I hold both IFRA.AX and USD.AX in my portfolio?

IFRA.AX and USD.AX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between IFRA.AX and USD.AX?

IFRA.AX tracks VanEck FTSE Global Infrastructure (AUD Hedged) Index, while USD.AX tracks BetaShares U.S. Dollar Index. They also come from different issuers: VanEck and BetaShares.