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INIF.AX vs. VHY.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INIF.AX vs. VHY.AX

Last updated Jul 16, 2026
Documentation

INIF.AX (Intelligent Investor Australian Equity Income ETF) and VHY.AX (Vanguard Australian Shares High Yield ETF) are both Dividend funds - INIF.AX tracks the Intelligent Investor Australian Equity Income Index while VHY.AX tracks the FTSE Australia High Dividend Yield Index. Both are passively managed. Over the past 5 years, INIF.AX returned 6.73%/yr vs 9.87%/yr for VHY.AX. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

INIF.AX vs. VHY.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Intelligent Investor Australian Equity Income ETF (INIF.AX) and Vanguard Australian Shares High Yield ETF (VHY.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, INIF.AX achieves a 0.46% return, which is significantly lower than VHY.AX's 8.22% return.

INIF.AX

1D
0.37%
1M
-2.47%
6M
-1.51%
YTD
0.46%
1Y
9.33%
3Y*
5.69%
5Y*
6.73%
10Y*
—

VHY.AX

1D
0.20%
1M
-0.91%
6M
9.04%
YTD
8.22%
1Y
15.11%
3Y*
12.91%
5Y*
9.87%
10Y*
9.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
INIF.AX
Intelligent Investor Australian Equity Income ETF		0.46%14.36%-0.18%1.45%10.56%22.72%4.68%14.17%-8.51%
VHY.AX
Vanguard Australian Shares High Yield ETF		8.22%14.77%9.04%9.83%7.71%16.73%1.71%20.44%-4.47%

Correlation

The correlation between INIF.AX and VHY.AX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.42

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

0.53

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

0.57

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2018

0.55

The correlation between INIF.AX and VHY.AX shifts across timeframes, from 0.42 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Intelligent Investor Australian Equity Income ETF

Vanguard Australian Shares High Yield ETF

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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INIF.AX
INIF.AX Risk / Return Rank: 2222
Overall Rank
INIF.AX Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
INIF.AX Sortino Ratio Rank: 2121
Sortino Ratio Rank
INIF.AX Omega Ratio Rank: 2222
Omega Ratio Rank
INIF.AX Calmar Ratio Rank: 2222
Calmar Ratio Rank
INIF.AX Martin Ratio Rank: 2323
Martin Ratio Rank
VHY.AX
VHY.AX Risk / Return Rank: 5858
Overall Rank
VHY.AX Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
VHY.AX Sortino Ratio Rank: 5555
Sortino Ratio Rank
VHY.AX Omega Ratio Rank: 5252
Omega Ratio Rank
VHY.AX Calmar Ratio Rank: 7777
Calmar Ratio Rank
VHY.AX Martin Ratio Rank: 5353
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.

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

This table presents a comparison of risk-adjusted performance metrics for Intelligent Investor Australian Equity Income ETF (INIF.AX) and Vanguard Australian Shares High Yield ETF (VHY.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.

INIF.AXVHY.AXDifference
Sharpe ratioReturn per unit of total volatility
0.67
1.49

-0.82

Sortino ratioReturn per unit of downside risk
1.02
2.15

-1.13

Omega ratioGain probability vs. loss probability

1.13

1.27

-0.13

Calmar ratioReturn relative to maximum drawdown

0.87

3.18

-2.31

Martin ratioReturn relative to average drawdown

2.43

7.34

-4.91

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

The current INIF.AX Sharpe Ratio is 0.67, which is lower than the VHY.AX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of INIF.AX and VHY.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

INIF.AX vs. VHY.AX - Drawdown Comparison

The maximum INIF.AX drawdown since its inception was -40.96%, which is greater than VHY.AX's maximum drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for INIF.AX and VHY.AX.

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Drawdown Indicators

INIF.AXVHY.AXDifference

Max Drawdown

Largest peak-to-trough decline

-40.96%

-35.54%

-5.42%

Max Drawdown (1Y)

Largest decline over 1 year

-10.93%

-4.84%

-6.09%

Max Drawdown (3Y)

Largest decline over 3 years

-18.09%

-11.68%

-6.41%

Max Drawdown (5Y)

Largest decline over 5 years

-18.09%

-14.41%

-3.68%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.54%

—

Current Drawdown

Current decline from peak

-3.10%

-1.80%

-1.30%

Average Drawdown

Average peak-to-trough decline

-5.26%

-4.87%

-0.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.95%

2.14%

+1.81%

Volatility

INIF.AX vs. VHY.AX - Volatility Comparison

Intelligent Investor Australian Equity Income ETF (INIF.AX) has a higher volatility of 3.41% compared to Vanguard Australian Shares High Yield ETF (VHY.AX) at 2.23%. This indicates that INIF.AX's price experiences larger fluctuations and is considered to be riskier than VHY.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INIF.AXVHY.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

2.23%

+1.18%

Volatility (6M)

Calculated over the trailing 6-month period

11.46%

8.14%

+3.32%

Volatility (1Y)

Calculated over the trailing 1-year period

14.10%

10.37%

+3.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.82%

12.70%

+1.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.42%

14.30%

+2.12%

Dividends

INIF.AX vs. VHY.AX - Dividend Comparison

INIF.AX's dividend yield for the trailing twelve months is around 12.02%, more than VHY.AX's 2.76% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
VHY.AX
Vanguard Australian Shares High Yield ETF		2.76%8.37%2.92%3.73%5.02%4.84%3.54%5.35%7.81%5.69%3.84%6.40%

Frequently Asked Questions

INIF.AX and VHY.AX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INIF.AX tracks Intelligent Investor Australian Equity Income Index, while VHY.AX tracks FTSE Australia High Dividend Yield Index. They also come from different issuers: ETF Issuer and Vanguard.

Portfolio Optimizer

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