QOZ.AX vs. AAA.AX
QOZ.AX (BetaShares FTSE RAFI Australia 200 ETF) and AAA.AX (BetaShares Australian High Interest Cash ETF) are both exchange-traded funds - QOZ.AX is a Large Cap Value Equities fund tracking the FTSE RAFI Australia 200 Index, while AAA.AX is a Money Market fund actively managed by BetaShares. QOZ.AX is passively managed, while AAA.AX is actively managed. Over the past 10 years, QOZ.AX returned 8.91%/yr vs 2.12%/yr for AAA.AX. At a 0.01 correlation, their price movements are largely independent. QOZ.AX charges 0.40%/yr vs 0.18%/yr for AAA.AX.
Performance
QOZ.AX vs. AAA.AX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QOZ.AX achieves a 5.36% return, which is significantly higher than AAA.AX's 1.60% return. Over the past 10 years, QOZ.AX has outperformed AAA.AX with an annualized return of 8.91%, while AAA.AX has yielded a comparatively lower 2.12% annualized return.
QOZ.AX
- 1D
- -0.13%
- 1M
- -0.89%
- 6M
- 4.91%
- YTD
- 5.36%
- 1Y
- 14.79%
- 3Y*
- 11.72%
- 5Y*
- 8.47%
- 10Y*
- 8.91%
AAA.AX
- 1D
- 0.02%
- 1M
- 0.39%
- 6M
- 1.49%
- YTD
- 1.60%
- 1Y
- 3.09%
- 3Y*
- 3.74%
- 5Y*
- 2.90%
- 10Y*
- 2.12%
QOZ.AX vs. AAA.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QOZ.AX BetaShares FTSE RAFI Australia 200 ETF | 5.36% | 14.57% | 8.09% | 8.49% | 3.17% | 17.17% | -0.13% | 18.60% | -5.96% | 9.73% |
AAA.AX BetaShares Australian High Interest Cash ETF | 1.60% | 3.76% | 3.87% | 3.75% | 1.38% | 0.35% | 0.74% | 1.69% | 1.87% | 1.39% |
Correlation
The correlation between QOZ.AX and AAA.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 | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2013 | 0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QOZ.AX vs. AAA.AX — Risk / Return Rank
QOZ.AX
AAA.AX
QOZ.AX vs. AAA.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaShares FTSE RAFI Australia 200 ETF (QOZ.AX) and BetaShares Australian High Interest Cash ETF (AAA.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.
| QOZ.AX | AAA.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 2.82 | -1.59 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 9.43 | -7.61 |
| Martin ratioReturn relative to average drawdown | 4.58 | 30.20 | -25.62 |
Loading charts...
Drawdowns
QOZ.AX vs. AAA.AX - Drawdown Comparison
The maximum QOZ.AX drawdown since its inception was -37.05%, which is greater than AAA.AX's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for QOZ.AX and AAA.AX.
Loading charts...
Drawdown Indicators
| QOZ.AX | AAA.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.05% | -0.36% | -36.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.60% | -0.32% | -8.28% |
Max Drawdown (3Y)Largest decline over 3 years | -13.67% | -0.32% | -13.35% |
Max Drawdown (5Y)Largest decline over 5 years | -14.87% | -0.32% | -14.55% |
Max Drawdown (10Y)Largest decline over 10 years | -37.05% | -0.32% | -36.73% |
Current DrawdownCurrent decline from peak | -3.17% | 0.00% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -0.06% | -4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 0.10% | +3.34% |
Volatility
QOZ.AX vs. AAA.AX - Volatility Comparison
BetaShares FTSE RAFI Australia 200 ETF (QOZ.AX) has a higher volatility of 2.43% compared to BetaShares Australian High Interest Cash ETF (AAA.AX) at 0.10%. This indicates that QOZ.AX's price experiences larger fluctuations and is considered to be riskier than AAA.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QOZ.AX | AAA.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 0.10% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 0.65% | +8.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 0.73% | +11.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 0.50% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.67% | 0.48% | +14.19% |
QOZ.AX vs. AAA.AX - Expense Ratio Comparison
QOZ.AX has a 0.40% expense ratio, which is higher than AAA.AX's 0.18% expense ratio.
Dividends
QOZ.AX vs. AAA.AX - Dividend Comparison
QOZ.AX's dividend yield for the trailing twelve months is around 2.26%, less than AAA.AX's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAA.AX BetaShares Australian High Interest Cash ETF | 3.06% | 3.77% | 3.73% | 3.56% | 1.13% | 0.35% | 0.82% | 1.74% | 1.87% | 1.36% | 1.68% | 1.54% |
QOZ.AX BetaShares FTSE RAFI Australia 200 ETF | 2.26% | 2.07% | 2.42% | 2.75% | 4.97% | 3.96% | 3.30% | 6.45% | 4.28% | 1.82% | 3.62% | 6.33% |
Frequently Asked Questions
QOZ.AX and AAA.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.
On fees, AAA.AX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AAA.AX is cheaper with a 0.18% expense ratio, compared with 0.40% for QOZ.AX.
QOZ.AX is categorized as Large Cap Value Equities, while AAA.AX is Money Market. Their fees differ too: 0.40% for QOZ.AX and 0.18% for AAA.AX.
Find the right allocation for QOZ.AX and AAA.AX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer