IOZ.AX vs. AUDUSD=X

Last updated Apr 2, 2026

Compare and contrast key facts about Ishares Core S&P/ASX 200 ETF (IOZ.AX) and AUD/USD (AUDUSD=X).

IOZ.AX is a passively managed fund by iShares that tracks the performance of the S&P/ASX 200 Index. It was launched on Dec 6, 2010.

Performance

IOZ.AX vs. AUDUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Ishares Core S&P/ASX 200 ETF (IOZ.AX) and AUD/USD (AUDUSD=X). The values are adjusted to include any dividend payments, if applicable.

IOZ.AX vs. AUDUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IOZ.AX Ishares Core S&P/ASX 200 ETF	0.56%	10.22%	11.35%	12.19%	-0.91%	16.90%	1.35%	23.29%	-2.99%	11.57%
AUDUSD=X AUD/USD	0.64%	-0.01%	0.03%	0.01%	-0.08%	-0.04%	0.11%	0.09%	-0.05%	0.10%

Different Trading Currencies

IOZ.AX is traded in AUD, while AUDUSD=X is traded in USD. To make them comparable, the AUDUSD=X values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IOZ.AX achieves a 0.56% return, which is significantly lower than AUDUSD=X's 0.64% return. Over the past 10 years, IOZ.AX has outperformed AUDUSD=X with an annualized return of 9.72%, while AUDUSD=X has yielded a comparatively lower 0.07% annualized return.

IOZ.AX

• 1D: 2.18%
• 1M: -5.16%
• YTD: 0.56%
• 6M: -0.29%
• 1Y: 12.95%
• 3Y*: 10.24%
• 5Y*: 8.88%
• 10Y*: 9.72%

AUDUSD=X

• 1D: 0.00%
• 1M: 0.63%
• YTD: 0.64%
• 6M: 0.62%
• 1Y: 0.07%
• 3Y*: 0.21%
• 5Y*: 0.13%
• 10Y*: 0.07%

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

Return for Risk

IOZ.AX vs. AUDUSD=X — Risk / Return Rank

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

IOZ.AX

IOZ.AX Risk / Return Rank: 49
IOZ.AX Sharpe Ratio Rank: 51
IOZ.AX Sortino Ratio Rank: 49
IOZ.AX Omega Ratio Rank: 49
IOZ.AX Calmar Ratio Rank: 52
IOZ.AX Martin Ratio Rank: 41

AUDUSD=X

AUDUSD=X Risk / Return Rank: 78
AUDUSD=X Sharpe Ratio Rank: 78
AUDUSD=X Sortino Ratio Rank: 77
AUDUSD=X Omega Ratio Rank: 80
AUDUSD=X Calmar Ratio Rank: 79
AUDUSD=X Martin Ratio Rank: 77

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.

IOZ.AX vs. AUDUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ishares Core S&P/ASX 200 ETF (IOZ.AX) and AUD/USD (AUDUSD=X). 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.

	IOZ.AX	AUDUSD=X	Difference
Sharpe ratio Return per unit of total volatility	0.98	0.03	+0.95
Sortino ratio Return per unit of downside risk	1.41	0.06	+1.35
Omega ratio Gain probability vs. loss probability	1.20	1.01	+0.19
Calmar ratio Return relative to maximum drawdown	1.52	0.77	+0.75
Martin ratio Return relative to average drawdown	4.45	1.14	+3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOZ.AX vs. AUDUSD=X - Sharpe Ratio Comparison

The current IOZ.AX Sharpe Ratio is 0.98, which is higher than the AUDUSD=X Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of IOZ.AX and AUDUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IOZ.AX	AUDUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.03	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.11	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.05	+0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.01	+0.54

Correlation

The correlation between IOZ.AX and AUDUSD=X is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

IOZ.AX vs. AUDUSD=X - Drawdown Comparison

The maximum IOZ.AX drawdown since its inception was -35.75%, which is greater than AUDUSD=X's maximum drawdown of -3.07%. Use the drawdown chart below to compare losses from any high point for IOZ.AX and AUDUSD=X.

Drawdown Indicators

	IOZ.AX	AUDUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-35.75%	-47.87%	+12.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-5.86%	-2.59%
Max Drawdown (5Y) Largest decline over 5 years	-14.92%	-24.02%	+9.10%
Max Drawdown (10Y) Largest decline over 10 years	-35.75%	-29.18%	-6.57%
Current Drawdown Current decline from peak	-5.16%	-37.25%	+32.09%
Average Drawdown Average peak-to-trough decline	-4.68%	-25.45%	+20.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	1.63%	+1.26%

Volatility

IOZ.AX vs. AUDUSD=X - Volatility Comparison

Ishares Core S&P/ASX 200 ETF (IOZ.AX) has a higher volatility of 5.50% compared to AUD/USD (AUDUSD=X) at 0.72%. This indicates that IOZ.AX's price experiences larger fluctuations and is considered to be riskier than AUDUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOZ.AX	AUDUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	0.72%	+4.78%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	0.94%	+8.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.16%	1.70%	+11.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.78%	1.08%	+11.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.37%	1.37%	+13.00%