PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QUS.AX vs. GEAR.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUS.AX vs. GEAR.AX

Last updated Jul 16, 2026
Documentation

QUS.AX (BetaShares S&P 500 Equal Weight ETF) and GEAR.AX (Betashares Geared Australian Equities Complex ETF) are both Global Equities funds from BetaShares. QUS.AX is passively managed, while GEAR.AX is actively managed. Over the past 10 years, QUS.AX returned 11.02%/yr vs 10.21%/yr for GEAR.AX. At a 0.46 correlation, their price movements are largely independent.

Performance

QUS.AX vs. GEAR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares S&P 500 Equal Weight ETF (QUS.AX) and Betashares Geared Australian Equities Complex ETF (GEAR.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QUS.AX achieves a 5.22% return, which is significantly higher than GEAR.AX's 1.29% return. Over the past 10 years, QUS.AX has outperformed GEAR.AX with an annualized return of 11.02%, while GEAR.AX has yielded a comparatively lower 10.21% annualized return.

QUS.AX

1D
-0.38%
1M
1.18%
6M
3.68%
YTD
5.22%
1Y
8.63%
3Y*
11.82%
5Y*
9.37%
10Y*
11.02%

GEAR.AX

1D
0.08%
1M
-2.32%
6M
0.16%
YTD
1.29%
1Y
3.78%
3Y*
13.69%
5Y*
8.25%
10Y*
10.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUS.AX vs. GEAR.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QUS.AX
BetaShares S&P 500 Equal Weight ETF		5.22%4.12%21.90%11.82%-5.88%37.47%-3.71%28.14%-0.86%7.24%
GEAR.AX
Betashares Geared Australian Equities Complex ETF		1.29%15.80%13.80%15.84%-9.50%36.03%-11.97%52.03%-19.57%16.12%

Correlation

The correlation between QUS.AX and GEAR.AX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

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

0.42

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

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.50

Correlation (All Time)
Calculated using the full available price history since Dec 17, 2014

0.46

The correlation between QUS.AX and GEAR.AX has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BetaShares S&P 500 Equal Weight ETF

Betashares Geared Australian Equities Complex ETF

Return for Risk

QUS.AX vs. GEAR.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUS.AX
QUS.AX Risk / Return Rank: 2727
Overall Rank
QUS.AX Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
QUS.AX Sortino Ratio Rank: 2727
Sortino Ratio Rank
QUS.AX Omega Ratio Rank: 2626
Omega Ratio Rank
QUS.AX Calmar Ratio Rank: 2626
Calmar Ratio Rank
QUS.AX Martin Ratio Rank: 2525
Martin Ratio Rank
GEAR.AX
GEAR.AX Risk / Return Rank: 1313
Overall Rank
GEAR.AX Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
GEAR.AX Sortino Ratio Rank: 1313
Sortino Ratio Rank
GEAR.AX Omega Ratio Rank: 1313
Omega Ratio Rank
GEAR.AX Calmar Ratio Rank: 1313
Calmar Ratio Rank
GEAR.AX Martin Ratio Rank: 1313
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.

QUS.AX vs. GEAR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares S&P 500 Equal Weight ETF (QUS.AX) and Betashares Geared Australian Equities Complex ETF (GEAR.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.

QUS.AXGEAR.AXDifference
Sharpe ratioReturn per unit of total volatility
0.89
0.21

+0.68

Sortino ratioReturn per unit of downside risk
1.30
0.49

+0.81

Omega ratioGain probability vs. loss probability

1.15

1.06

+0.10

Calmar ratioReturn relative to maximum drawdown

1.07

0.31

+0.77

Martin ratioReturn relative to average drawdown

2.72

0.66

+2.05

QUS.AX vs. GEAR.AX - Sharpe Ratio Comparison

The current QUS.AX Sharpe Ratio is 0.89, which is higher than the GEAR.AX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of QUS.AX and GEAR.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.

Loading charts...

Drawdowns

QUS.AX vs. GEAR.AX - Drawdown Comparison

The maximum QUS.AX drawdown since its inception was -29.54%, smaller than the maximum GEAR.AX drawdown of -66.50%. Use the drawdown chart below to compare losses from any high point for QUS.AX and GEAR.AX.

Loading charts...

Drawdown Indicators

QUS.AXGEAR.AXDifference

Max Drawdown

Largest peak-to-trough decline

-29.54%

-66.50%

+36.96%

Max Drawdown (1Y)

Largest decline over 1 year

-8.93%

-17.82%

+8.89%

Max Drawdown (3Y)

Largest decline over 3 years

-14.85%

-30.91%

+16.06%

Max Drawdown (5Y)

Largest decline over 5 years

-16.76%

-32.27%

+15.51%

Max Drawdown (10Y)

Largest decline over 10 years

-29.54%

-66.50%

+36.96%

Current Drawdown

Current decline from peak

-2.25%

-8.41%

+6.16%

Average Drawdown

Average peak-to-trough decline

-4.40%

-12.21%

+7.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

8.40%

-4.83%

Volatility

QUS.AX vs. GEAR.AX - Volatility Comparison

The current volatility for BetaShares S&P 500 Equal Weight ETF (QUS.AX) is 3.06%, while Betashares Geared Australian Equities Complex ETF (GEAR.AX) has a volatility of 5.08%. This indicates that QUS.AX experiences smaller price fluctuations and is considered to be less risky than GEAR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

QUS.AXGEAR.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.06%

5.08%

-2.02%

Volatility (6M)

Calculated over the trailing 6-month period

8.40%

21.27%

-12.87%

Volatility (1Y)

Calculated over the trailing 1-year period

10.77%

25.91%

-15.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.51%

29.72%

-16.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.83%

32.91%

-18.08%

Dividends

QUS.AX vs. GEAR.AX - Dividend Comparison

QUS.AX's dividend yield for the trailing twelve months is around 1.98%, more than GEAR.AX's 0.57% yield.

PositionTTM20252024202320222021202020192018201720162015
GEAR.AX
Betashares Geared Australian Equities Complex ETF		0.57%1.39%0.26%0.92%8.66%3.72%5.62%6.55%2.90%1.64%1.57%1.74%
QUS.AX
BetaShares S&P 500 Equal Weight ETF		1.98%2.10%2.33%2.28%3.29%1.85%12.79%4.07%2.57%1.47%2.58%1.68%

Frequently Asked Questions

QUS.AX and GEAR.AX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for QUS.AX and GEAR.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