QPON.AX vs. BNDS.AX
QPON.AX (BetaShares Australian Bank Senior Floating Rate Bond ETF) and BNDS.AX (BetaShares Western Asset Australian Bond Active ETF) are both Total Bond Market funds from BetaShares. QPON.AX is passively managed, while BNDS.AX is actively managed. Over the past 5 years, QPON.AX returned 3.50%/yr vs -0.31%/yr for BNDS.AX. At a 0.03 correlation, their price movements are largely independent.
Performance
QPON.AX vs. BNDS.AX - Performance Comparison
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Returns By Period
In the year-to-date period, QPON.AX achieves a 2.30% return, which is significantly higher than BNDS.AX's 1.05% return.
QPON.AX
- 1D
- 0.08%
- 1M
- 0.48%
- 6M
- 1.98%
- YTD
- 2.30%
- 1Y
- 3.88%
- 3Y*
- 4.75%
- 5Y*
- 3.50%
- 10Y*
- —
BNDS.AX
- 1D
- 0.22%
- 1M
- 0.24%
- 6M
- 0.79%
- YTD
- 1.05%
- 1Y
- 0.62%
- 3Y*
- 3.36%
- 5Y*
- -0.31%
- 10Y*
- —
QPON.AX vs. BNDS.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QPON.AX BetaShares Australian Bank Senior Floating Rate Bond ETF | 2.30% | 4.36% | 5.09% | 4.99% | 0.96% | -0.19% | 2.49% | 3.70% | -0.18% |
BNDS.AX BetaShares Western Asset Australian Bond Active ETF | 1.05% | 2.52% | 3.08% | 5.73% | -10.96% | -2.83% | 4.81% | 7.50% | 2.15% |
Correlation
The correlation between QPON.AX and BNDS.AX is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018 | 0.03 |
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Return for Risk
QPON.AX vs. BNDS.AX — Risk / Return Rank
QPON.AX
BNDS.AX
QPON.AX vs. BNDS.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaShares Australian Bank Senior Floating Rate Bond ETF (QPON.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.
| QPON.AX | BNDS.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.98 | ||
| Sortino ratioReturn per unit of downside risk | +4.11 | ||
| Omega ratioGain probability vs. loss probability | 1.78 | 1.03 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 0.14 | +6.84 |
| Martin ratioReturn relative to average drawdown | 21.45 | 0.27 | +21.19 |
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Drawdowns
QPON.AX vs. BNDS.AX - Drawdown Comparison
The maximum QPON.AX drawdown since its inception was -4.05%, smaller than the maximum BNDS.AX drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for QPON.AX and BNDS.AX.
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Drawdown Indicators
| QPON.AX | BNDS.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.05% | -16.27% | +12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.53% | -5.05% | +4.52% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -5.05% | +4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -1.92% | -16.11% | +14.19% |
Current DrawdownCurrent decline from peak | 0.00% | -2.92% | +2.92% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -5.37% | +5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 2.59% | -2.41% |
Volatility
QPON.AX vs. BNDS.AX - Volatility Comparison
The current volatility for BetaShares Australian Bank Senior Floating Rate Bond ETF (QPON.AX) is 0.22%, while BetaShares Western Asset Australian Bond Active ETF (BNDS.AX) has a volatility of 0.78%. This indicates that QPON.AX experiences smaller price fluctuations and is considered to be less risky 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
| QPON.AX | BNDS.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.78% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 0.81% | 3.05% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.18% | 3.73% | -2.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.33% | 5.36% | -4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.59% | 5.23% | -3.64% |
Dividends
QPON.AX vs. BNDS.AX - Dividend Comparison
QPON.AX's dividend yield for the trailing twelve months is around 2.88%, less than BNDS.AX's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
QPON.AX BetaShares Australian Bank Senior Floating Rate Bond ETF | 2.88% | 3.83% | 4.65% | 3.69% | 1.69% | 0.93% | 0.99% | 2.22% | 2.43% | 1.14% |
Frequently Asked Questions
QPON.AX and BNDS.AX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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