QOZ.AX vs. BNDS.AX
QOZ.AX (BetaShares FTSE RAFI Australia 200 ETF) and BNDS.AX (BetaShares Western Asset Australian Bond Active ETF) are both exchange-traded funds - QOZ.AX is a Large Cap Value Equities fund tracking the FTSE RAFI Australia 200 Index, while BNDS.AX is a Total Bond Market fund actively managed by BetaShares. QOZ.AX is passively managed, while BNDS.AX is actively managed. Over the past 5 years, QOZ.AX returned 8.31%/yr vs -0.33%/yr for BNDS.AX. At a 0.10 correlation, their price movements are largely independent. QOZ.AX charges 0.40%/yr vs 0.42%/yr for BNDS.AX.
Performance
QOZ.AX vs. BNDS.AX - Performance Comparison
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Returns By Period
In the year-to-date period, QOZ.AX achieves a 4.61% return, which is significantly higher than BNDS.AX's 0.92% return.
QOZ.AX
- 1D
- -0.90%
- 1M
- -1.89%
- 6M
- 2.99%
- YTD
- 4.61%
- 1Y
- 14.31%
- 3Y*
- 11.55%
- 5Y*
- 8.31%
- 10Y*
- 8.87%
BNDS.AX
- 1D
- -0.13%
- 1M
- -0.10%
- 6M
- 0.45%
- YTD
- 0.92%
- 1Y
- 0.24%
- 3Y*
- 3.29%
- 5Y*
- -0.33%
- 10Y*
- —
QOZ.AX vs. BNDS.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QOZ.AX BetaShares FTSE RAFI Australia 200 ETF | 4.61% | 14.57% | 8.09% | 8.49% | 3.17% | 17.17% | -0.13% | 18.60% | -2.18% |
BNDS.AX BetaShares Western Asset Australian Bond Active ETF | 0.92% | 2.52% | 3.08% | 5.73% | -10.96% | -2.83% | 4.81% | 7.50% | 2.15% |
Correlation
The correlation between QOZ.AX and BNDS.AX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018 | 0.10 |
The correlation between QOZ.AX and BNDS.AX shifts across timeframes, from 0.10 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
QOZ.AX vs. BNDS.AX — Risk / Return Rank
QOZ.AX
BNDS.AX
QOZ.AX vs. BNDS.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 Western Asset Australian Bond Active ETF (BNDS.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 | BNDS.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.01 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.05 | +1.58 |
| Martin ratioReturn relative to average drawdown | 4.10 | 0.09 | +4.01 |
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Drawdowns
QOZ.AX vs. BNDS.AX - Drawdown Comparison
The maximum QOZ.AX drawdown since its inception was -37.05%, which is greater than BNDS.AX's maximum drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for QOZ.AX and BNDS.AX.
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Drawdown Indicators
| QOZ.AX | BNDS.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.05% | -16.27% | -20.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.60% | -5.05% | -3.55% |
Max Drawdown (3Y)Largest decline over 3 years | -13.67% | -5.05% | -8.62% |
Max Drawdown (5Y)Largest decline over 5 years | -14.87% | -16.11% | +1.24% |
Max Drawdown (10Y)Largest decline over 10 years | -37.05% | — | — |
Current DrawdownCurrent decline from peak | -3.86% | -3.04% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -5.37% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 2.60% | +0.85% |
Volatility
QOZ.AX vs. BNDS.AX - Volatility Comparison
BetaShares FTSE RAFI Australia 200 ETF (QOZ.AX) has a higher volatility of 2.54% compared to BetaShares Western Asset Australian Bond Active ETF (BNDS.AX) at 0.79%. This indicates that QOZ.AX's price experiences larger fluctuations and is considered to be riskier than BNDS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QOZ.AX | BNDS.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 0.79% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 3.03% | +6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.90% | 3.73% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 5.36% | +7.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 5.23% | +9.45% |
QOZ.AX vs. BNDS.AX - Expense Ratio Comparison
QOZ.AX has a 0.40% expense ratio, which is lower than BNDS.AX's 0.42% expense ratio.
Dividends
QOZ.AX vs. BNDS.AX - Dividend Comparison
QOZ.AX's dividend yield for the trailing twelve months is around 2.28%, less than BNDS.AX's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDS.AX BetaShares Western Asset Australian Bond Active ETF | 2.98% | 3.39% | 3.31% | 2.63% | 1.47% | 1.25% | 2.46% | 2.31% | 0.14% | 0.00% | 0.00% | 0.00% |
QOZ.AX BetaShares FTSE RAFI Australia 200 ETF | 2.28% | 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 BNDS.AX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QOZ.AX is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QOZ.AX is cheaper with a 0.40% expense ratio, compared with 0.42% for BNDS.AX.
QOZ.AX is categorized as Large Cap Value Equities, while BNDS.AX is Total Bond Market. Their fees differ too: 0.40% for QOZ.AX and 0.42% for BNDS.AX.
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