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QPON.AX vs. IAF.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QPON.AX vs. IAF.AX

Last updated Jul 16, 2026
Documentation

QPON.AX (BetaShares Australian Bank Senior Floating Rate Bond ETF) and IAF.AX (iShares Core Composite Bond ETF) are both Total Bond Market funds - QPON.AX tracks the BetaShares Australian Bank Senior Floating Rate Bond Index while IAF.AX tracks the iShares Core Composite Bond Index. Both are passively managed. Over the past 5 years, QPON.AX returned 3.50%/yr vs -0.06%/yr for IAF.AX. At a 0.01 correlation, their price movements are largely independent.

Performance

QPON.AX vs. IAF.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares Australian Bank Senior Floating Rate Bond ETF (QPON.AX) and iShares Core Composite Bond ETF (IAF.AX). The values are adjusted to include any dividend payments, if applicable.

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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 IAF.AX's 2.02% 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*
—

IAF.AX

1D
0.16%
1M
0.16%
6M
1.37%
YTD
2.02%
1Y
1.75%
3Y*
3.60%
5Y*
-0.06%
10Y*
1.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QPON.AX vs. IAF.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%1.61%2.31%
IAF.AX
iShares Core Composite Bond ETF		2.02%2.97%2.70%4.96%-9.82%-3.09%3.92%7.29%4.19%0.34%

Correlation

The correlation between QPON.AX and IAF.AX is -0.01, 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

-0.01

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.00

Correlation (All Time)
Calculated using the full available price history since Jun 1, 2017

0.01

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BetaShares Australian Bank Senior Floating Rate Bond ETF

iShares Core Composite Bond ETF

Return for Risk

QPON.AX vs. IAF.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QPON.AX
QPON.AX Risk / Return Rank: 9696
Overall Rank
QPON.AX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
QPON.AX Sortino Ratio Rank: 9595
Sortino Ratio Rank
QPON.AX Omega Ratio Rank: 9797
Omega Ratio Rank
QPON.AX Calmar Ratio Rank: 9696
Calmar Ratio Rank
QPON.AX Martin Ratio Rank: 9494
Martin Ratio Rank
IAF.AX
IAF.AX Risk / Return Rank: 1717
Overall Rank
IAF.AX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
IAF.AX Sortino Ratio Rank: 1717
Sortino Ratio Rank
IAF.AX Omega Ratio Rank: 1616
Omega Ratio Rank
IAF.AX Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAF.AX Martin Ratio Rank: 1515
Martin Ratio Rank
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.

QPON.AX vs. IAF.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 iShares Core Composite Bond ETF (IAF.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.AXIAF.AXDifference
Sharpe ratioReturn per unit of total volatility
3.16
0.50

+2.66

Sortino ratioReturn per unit of downside risk
4.40
0.75

+3.65

Omega ratioGain probability vs. loss probability

1.78

1.09

+0.69

Calmar ratioReturn relative to maximum drawdown

6.98

0.51

+6.46

Martin ratioReturn relative to average drawdown

21.45

1.09

+20.37

QPON.AX vs. IAF.AX - Sharpe Ratio Comparison

The current QPON.AX Sharpe Ratio is 3.16, which is higher than the IAF.AX Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of QPON.AX and IAF.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QPON.AX vs. IAF.AX - Drawdown Comparison

The maximum QPON.AX drawdown since its inception was -4.05%, smaller than the maximum IAF.AX drawdown of -15.62%. Use the drawdown chart below to compare losses from any high point for QPON.AX and IAF.AX.

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Drawdown Indicators

QPON.AXIAF.AXDifference

Max Drawdown

Largest peak-to-trough decline

-4.05%

-15.62%

+11.57%

Max Drawdown (1Y)

Largest decline over 1 year

-0.53%

-3.57%

+3.04%

Max Drawdown (3Y)

Largest decline over 3 years

-0.96%

-3.65%

+2.69%

Max Drawdown (5Y)

Largest decline over 5 years

-1.92%

-15.10%

+13.18%

Max Drawdown (10Y)

Largest decline over 10 years

—

-15.62%

—

Current Drawdown

Current decline from peak

0.00%

-1.92%

+1.92%

Average Drawdown

Average peak-to-trough decline

-0.22%

-3.25%

+3.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.18%

1.72%

-1.54%

Volatility

QPON.AX vs. IAF.AX - Volatility Comparison

The current volatility for BetaShares Australian Bank Senior Floating Rate Bond ETF (QPON.AX) is 0.22%, while iShares Core Composite Bond ETF (IAF.AX) has a volatility of 0.68%. This indicates that QPON.AX experiences smaller price fluctuations and is considered to be less risky than IAF.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.AXIAF.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.22%

0.68%

-0.46%

Volatility (6M)

Calculated over the trailing 6-month period

0.81%

2.70%

-1.89%

Volatility (1Y)

Calculated over the trailing 1-year period

1.18%

3.65%

-2.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.33%

5.00%

-3.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.59%

4.33%

-2.74%

Dividends

QPON.AX vs. IAF.AX - Dividend Comparison

QPON.AX's dividend yield for the trailing twelve months is around 2.88%, less than IAF.AX's 3.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IAF.AX
iShares Core Composite Bond ETF		3.15%2.99%2.78%1.51%1.57%1.63%1.59%2.21%2.28%2.30%2.47%3.62%
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%0.00%0.00%

Frequently Asked Questions

QPON.AX and IAF.AX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QPON.AX tracks BetaShares Australian Bank Senior Floating Rate Bond Index, while IAF.AX tracks iShares Core Composite Bond Index. They also come from different issuers: BetaShares and iShares.

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