QMIX.AX vs. QAU.AX
QMIX.AX (State Street SPDR MSCI World Quality Mix ETF) and QAU.AX (Betashares Gold Bullion Currency Hedged ETF) are both exchange-traded funds - QMIX.AX is a Quality Factor fund tracking the MSCI World Factor Mix A-Series Index, while QAU.AX is a Gold fund tracking the No Index (Physical Commodity). Both are passively managed. Over the past 10 years, QMIX.AX returned 12.64%/yr vs 9.61%/yr for QAU.AX. Their -0.09 correlation means they have often moved in opposite directions in the past. QMIX.AX charges 0.18%/yr vs 0.59%/yr for QAU.AX.
Performance
QMIX.AX vs. QAU.AX - Performance Comparison
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Returns By Period
In the year-to-date period, QMIX.AX achieves a 5.33% return, which is significantly higher than QAU.AX's -6.93% return. Over the past 10 years, QMIX.AX has outperformed QAU.AX with an annualized return of 12.64%, while QAU.AX has yielded a comparatively lower 9.61% annualized return.
QMIX.AX
- 1D
- 0.00%
- 1M
- 0.06%
- 6M
- 6.30%
- YTD
- 5.33%
- 1Y
- 11.58%
- 3Y*
- 14.47%
- 5Y*
- 11.60%
- 10Y*
- 12.64%
- ALL TIME*
- 12.04%
QAU.AX
- 1D
- 1.06%
- 1M
- -2.26%
- 6M
- -21.73%
- YTD
- -6.93%
- 1Y
- 21.90%
- 3Y*
- 25.47%
- 5Y*
- 15.02%
- 10Y*
- 9.61%
- ALL TIME*
- 5.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| A$3.72M | A$2.89M | A$5.05M | |
| A$760.26K | A$825.97K | A$685.44K |
QMIX.AX vs. QAU.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QMIX.AX State Street SPDR MSCI World Quality Mix ETF | 5.33% | 12.23% | 24.29% | 18.07% | -6.97% | 28.75% | -1.08% | 29.52% | 0.77% | 14.11% |
QAU.AX Betashares Gold Bullion Currency Hedged ETF | -6.93% | 64.44% | 23.72% | 10.71% | -2.91% | -5.11% | 20.13% | 17.39% | -2.97% | 10.34% |
Correlation
The correlation between QMIX.AX and QAU.AX is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015 | -0.09 |
The correlation between QMIX.AX and QAU.AX shifts across timeframes, from -0.09 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QMIX.AX vs. QAU.AX — Risk / Return Rank
QMIX.AX
QAU.AX
QMIX.AX vs. QAU.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World Quality Mix ETF (QMIX.AX) and Betashares Gold Bullion Currency Hedged ETF (QAU.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.
| QMIX.AX | QAU.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 0.74 | +0.63 |
| Martin ratioReturn relative to average drawdown | 4.31 | 1.54 | +2.77 |
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Drawdowns
QMIX.AX vs. QAU.AX - Drawdown Comparison
The maximum QMIX.AX drawdown since its inception was -22.24%, smaller than the maximum QAU.AX drawdown of -42.74%. Use the drawdown chart below to compare losses from any high point for QMIX.AX and QAU.AX.
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Drawdown Indicators
| QMIX.AX | QAU.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.24% | -42.74% | +20.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -28.96% | +21.21% |
Max Drawdown (3Y)Largest decline over 3 years | -10.87% | -28.96% | +18.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -28.96% | +12.72% |
Max Drawdown (10Y)Largest decline over 10 years | -22.24% | -28.96% | +6.72% |
Current DrawdownCurrent decline from peak | -0.76% | -26.93% | +26.17% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -19.53% | +15.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 14.00% | -11.51% |
Volatility
QMIX.AX vs. QAU.AX - Volatility Comparison
The current volatility for State Street SPDR MSCI World Quality Mix ETF (QMIX.AX) is 2.54%, while Betashares Gold Bullion Currency Hedged ETF (QAU.AX) has a volatility of 5.43%. This indicates that QMIX.AX experiences smaller price fluctuations and is considered to be less risky than QAU.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMIX.AX | QAU.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 5.43% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.83% | 19.77% | -12.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.72% | 28.52% | -19.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 18.40% | -5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.24% | 16.88% | -3.64% |
QMIX.AX vs. QAU.AX - Expense Ratio Comparison
QMIX.AX has a 0.18% expense ratio, which is lower than QAU.AX's 0.59% expense ratio.
Dividends
QMIX.AX vs. QAU.AX - Dividend Comparison
QMIX.AX's dividend yield for the trailing twelve months is around 4.44%, less than QAU.AX's 5.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
QAU.AX Betashares Gold Bullion Currency Hedged ETF | 5.42% | 1.29% | 0.00% | 0.00% | 0.00% | 5.37% | 2.29% | 0.00% | 0.00% | 0.00% | 0.00% |
QMIX.AX State Street SPDR MSCI World Quality Mix ETF | 4.44% | 3.81% | 3.95% | 2.88% | 4.15% | 2.83% | 4.71% | 2.69% | 2.73% | 2.21% | 2.68% |
Frequently Asked Questions
QMIX.AX and QAU.AX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QMIX.AX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QMIX.AX is cheaper with a 0.18% expense ratio, compared with 0.59% for QAU.AX.
QMIX.AX is categorized as Quality Factor, while QAU.AX is Gold. QMIX.AX tracks MSCI World Factor Mix A-Series Index, while QAU.AX tracks No Index (Physical Commodity). They also come from different issuers: SPDR and BetaShares. Their fees differ too: 0.18% for QMIX.AX and 0.59% for QAU.AX.
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