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IIND.AX vs. FUEL.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IIND.AX vs. FUEL.AX

Last updated Jul 16, 2026
Documentation

IIND.AX (BetaShares India Quality ETF) and FUEL.AX (Betashares Global Energy Companies Currency Hedged ETF) are both Global Equities funds from BetaShares - IIND.AX tracks the BetaShares India Quality Index while FUEL.AX tracks the Betashares Global Energy Companies Currency Hedged Index. Both are passively managed. Over the past 5 years, IIND.AX returned 1.72%/yr vs 15.31%/yr for FUEL.AX. At a 0.08 correlation, their price movements are largely independent.

Performance

IIND.AX vs. FUEL.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares India Quality ETF (IIND.AX) and Betashares Global Energy Companies Currency Hedged ETF (FUEL.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, IIND.AX achieves a -14.66% return, which is significantly lower than FUEL.AX's 24.46% return.

IIND.AX

1D
0.31%
1M
-0.91%
6M
-13.30%
YTD
-14.66%
1Y
-18.27%
3Y*
0.08%
5Y*
1.72%
10Y*
—

FUEL.AX

1D
-0.73%
1M
-0.67%
6M
17.84%
YTD
24.46%
1Y
30.85%
3Y*
13.25%
5Y*
15.31%
10Y*
5.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IIND.AX vs. FUEL.AX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IIND.AX
BetaShares India Quality ETF		-14.66%-4.87%12.53%14.06%-4.15%20.32%7.69%4.97%
FUEL.AX
Betashares Global Energy Companies Currency Hedged ETF		24.46%10.28%-1.04%-2.17%37.74%29.02%-32.28%1.42%

Correlation

The correlation between IIND.AX and FUEL.AX is -0.06, 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

-0.06

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

-0.03

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

0.02

Correlation (All Time)
Calculated using the full available price history since Aug 2, 2019

0.08

The correlation between IIND.AX and FUEL.AX shifts across timeframes, from -0.06 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

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BetaShares India Quality ETF

Betashares Global Energy Companies Currency Hedged ETF

Return for Risk

IIND.AX vs. FUEL.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IIND.AX
IIND.AX Risk / Return Rank: 22
Overall Rank
IIND.AX Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IIND.AX Sortino Ratio Rank: 22
Sortino Ratio Rank
IIND.AX Omega Ratio Rank: 22
Omega Ratio Rank
IIND.AX Calmar Ratio Rank: 44
Calmar Ratio Rank
IIND.AX Martin Ratio Rank: 22
Martin Ratio Rank
FUEL.AX
FUEL.AX Risk / Return Rank: 5252
Overall Rank
FUEL.AX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
FUEL.AX Sortino Ratio Rank: 4949
Sortino Ratio Rank
FUEL.AX Omega Ratio Rank: 5151
Omega Ratio Rank
FUEL.AX Calmar Ratio Rank: 5959
Calmar Ratio Rank
FUEL.AX Martin Ratio Rank: 5252
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.

IIND.AX vs. FUEL.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares India Quality ETF (IIND.AX) and Betashares Global Energy Companies Currency Hedged ETF (FUEL.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.

IIND.AXFUEL.AXDifference
Sharpe ratioReturn per unit of total volatility
-1.01
1.39

-2.40

Sortino ratioReturn per unit of downside risk
-1.46
2.03

-3.49

Omega ratioGain probability vs. loss probability

0.84

1.27

-0.42

Calmar ratioReturn relative to maximum drawdown

-0.71

2.42

-3.13

Martin ratioReturn relative to average drawdown

-1.31

7.20

-8.51

IIND.AX vs. FUEL.AX - Sharpe Ratio Comparison

The current IIND.AX Sharpe Ratio is -1.01, which is lower than the FUEL.AX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of IIND.AX and FUEL.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

IIND.AX vs. FUEL.AX - Drawdown Comparison

The maximum IIND.AX drawdown since its inception was -27.24%, smaller than the maximum FUEL.AX drawdown of -65.66%. Use the drawdown chart below to compare losses from any high point for IIND.AX and FUEL.AX.

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Drawdown Indicators

IIND.AXFUEL.AXDifference

Max Drawdown

Largest peak-to-trough decline

-27.24%

-65.66%

+38.42%

Max Drawdown (1Y)

Largest decline over 1 year

-24.42%

-12.87%

-11.55%

Max Drawdown (3Y)

Largest decline over 3 years

-26.76%

-22.90%

-3.86%

Max Drawdown (5Y)

Largest decline over 5 years

-26.76%

-23.54%

-3.22%

Max Drawdown (10Y)

Largest decline over 10 years

—

-65.66%

—

Current Drawdown

Current decline from peak

-21.58%

-7.65%

-13.93%

Average Drawdown

Average peak-to-trough decline

-6.93%

-13.62%

+6.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.40%

4.37%

+9.03%

Volatility

IIND.AX vs. FUEL.AX - Volatility Comparison

The current volatility for BetaShares India Quality ETF (IIND.AX) is 3.60%, while Betashares Global Energy Companies Currency Hedged ETF (FUEL.AX) has a volatility of 5.70%. This indicates that IIND.AX experiences smaller price fluctuations and is considered to be less risky than FUEL.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IIND.AXFUEL.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

5.70%

-2.10%

Volatility (6M)

Calculated over the trailing 6-month period

15.22%

19.38%

-4.16%

Volatility (1Y)

Calculated over the trailing 1-year period

17.28%

22.36%

-5.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.66%

24.26%

-8.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

26.38%

-9.41%

Dividends

IIND.AX vs. FUEL.AX - Dividend Comparison

IIND.AX has not paid dividends to shareholders, while FUEL.AX's dividend yield for the trailing twelve months is around 3.37%.

PositionTTM202520242023202220212020201920182017
FUEL.AX
Betashares Global Energy Companies Currency Hedged ETF		3.37%0.00%2.16%0.00%0.00%4.04%1.64%1.25%1.92%3.02%
IIND.AX
BetaShares India Quality ETF		0.00%0.61%3.07%3.48%0.00%2.96%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IIND.AX and FUEL.AX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IIND.AX tracks BetaShares India Quality Index, while FUEL.AX tracks Betashares Global Energy Companies Currency Hedged Index.

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