INCM.AX vs. INIF.AX

Last updated Jul 18, 2026

INCM.AX (Betashares S&P Global High Dividend Aristocrats ETF) and INIF.AX (Intelligent Investor Australian Equity Income ETF) are both Dividend funds - INCM.AX tracks the Betashares S&P Global High Dividend Aristocrats Index while INIF.AX tracks the Intelligent Investor Australian Equity Income Index. Both are passively managed. Over the past 5 years, INCM.AX returned 11.22%/yr vs 6.73%/yr for INIF.AX. At a 0.23 correlation, their price movements are largely independent.

Performance

INCM.AX vs. INIF.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares S&P Global High Dividend Aristocrats ETF (INCM.AX) and Intelligent Investor Australian Equity Income ETF (INIF.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INCM.AX achieves a 5.25% return, which is significantly higher than INIF.AX's 0.46% return.

INCM.AX

• 1D: 0.05%
• 1M: 2.03%
• 6M: 4.77%
• YTD: 5.25%
• 1Y: 13.31%
• 3Y*: 15.55%
• 5Y*: 11.22%
• 10Y*: —

INIF.AX

• 1D: 0.00%
• 1M: -2.47%
• 6M: -2.78%
• YTD: 0.46%
• 1Y: 8.55%
• 3Y*: 5.82%
• 5Y*: 6.73%
• 10Y*: —

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

INCM.AX vs. INIF.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
INCM.AX Betashares S&P Global High Dividend Aristocrats ETF	5.25%	12.81%	22.92%	3.86%	5.85%	25.47%	-23.29%	22.95%	-4.68%
INIF.AX Intelligent Investor Australian Equity Income ETF	0.46%	14.36%	-0.18%	1.45%	10.56%	22.72%	4.68%	14.17%	-4.32%

Correlation

The correlation between INCM.AX and INIF.AX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018	0.23

Return for Risk

INCM.AX vs. INIF.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INCM.AX

INCM.AX Risk / Return Rank: 52
INCM.AX Sharpe Ratio Rank: 60
INCM.AX Sortino Ratio Rank: 61
INCM.AX Omega Ratio Rank: 59
INCM.AX Calmar Ratio Rank: 43
INCM.AX Martin Ratio Rank: 39

INIF.AX

INIF.AX Risk / Return Rank: 22
INIF.AX Sharpe Ratio Rank: 22
INIF.AX Sortino Ratio Rank: 21
INIF.AX Omega Ratio Rank: 22
INIF.AX Calmar Ratio Rank: 22
INIF.AX Martin Ratio Rank: 23

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.

INCM.AX vs. INIF.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares S&P Global High Dividend Aristocrats ETF (INCM.AX) and Intelligent Investor Australian Equity Income ETF (INIF.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.

	INCM.AX	INIF.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	0.59	+0.90
Sortino ratio: Return per unit of downside risk	2.18	0.92	+1.27
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	1.68	0.76	+0.92
Martin ratio: Return relative to average drawdown	4.59	2.13	+2.46

INCM.AX vs. INIF.AX - Sharpe Ratio Comparison

The current INCM.AX Sharpe Ratio is 1.49, which is higher than the INIF.AX Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of INCM.AX and INIF.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

INCM.AX vs. INIF.AX - Drawdown Comparison

The maximum INCM.AX drawdown since its inception was -35.00%, smaller than the maximum INIF.AX drawdown of -40.96%. Use the drawdown chart below to compare losses from any high point for INCM.AX and INIF.AX.

Drawdown Indicators

	INCM.AX	INIF.AX	Difference
Max Drawdown Largest peak-to-trough decline	-35.00%	-40.96%	+5.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-10.93%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	-8.19%	-18.09%	+9.90%
Max Drawdown (5Y) Largest decline over 5 years	-9.48%	-18.09%	+8.61%
Current Drawdown Current decline from peak	-0.99%	-3.10%	+2.11%
Average Drawdown Average peak-to-trough decline	-6.89%	-5.25%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.96%	-1.10%

Volatility

INCM.AX vs. INIF.AX - Volatility Comparison

The current volatility for Betashares S&P Global High Dividend Aristocrats ETF (INCM.AX) is 2.56%, while Intelligent Investor Australian Equity Income ETF (INIF.AX) has a volatility of 3.41%. This indicates that INCM.AX experiences smaller price fluctuations and is considered to be less risky than INIF.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCM.AX	INIF.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	3.41%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	6.68%	11.46%	-4.78%
Volatility (1Y) Calculated over the trailing 1-year period	8.74%	14.09%	-5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.87%	13.82%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.65%	16.42%	-1.77%

Dividends

INCM.AX vs. INIF.AX - Dividend Comparison

INCM.AX's dividend yield for the trailing twelve months is around 4.37%, less than INIF.AX's 12.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
INCM.AX Betashares S&P Global High Dividend Aristocrats ETF	4.37%	5.93%	2.87%	3.43%	3.03%	3.06%	3.97%	3.20%	0.00%
INIF.AX Intelligent Investor Australian Equity Income ETF	12.02%	4.02%	0.90%	7.31%	14.68%	1.27%	1.17%	3.88%	1.58%

Frequently Asked Questions

Can I hold both INCM.AX and INIF.AX in my portfolio?

INCM.AX and INIF.AX have a correlation of 0.28, 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 INCM.AX and INIF.AX?

INCM.AX tracks Betashares S&P Global High Dividend Aristocrats Index, while INIF.AX tracks Intelligent Investor Australian Equity Income Index. They also come from different issuers: BetaShares and ETF Issuer.