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RDV.AX vs. INCM.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RDV.AX vs. INCM.AX

Last updated Jul 16, 2026
Documentation

RDV.AX (Russell Investments High Dividend Australian Shares ETF) and INCM.AX (Betashares S&P Global High Dividend Aristocrats ETF) are both Dividend funds - RDV.AX tracks the Russell Investments High Dividend Australian Shares Index while INCM.AX tracks the Betashares S&P Global High Dividend Aristocrats Index. Both are passively managed. Over the past 5 years, RDV.AX returned 8.31%/yr vs 11.21%/yr for INCM.AX. At a 0.38 correlation, their price movements are largely independent.

Performance

RDV.AX vs. INCM.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Russell Investments High Dividend Australian Shares ETF (RDV.AX) and Betashares S&P Global High Dividend Aristocrats ETF (INCM.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, RDV.AX achieves a 4.38% return, which is significantly lower than INCM.AX's 5.20% return.

RDV.AX

1D
0.38%
1M
0.57%
6M
4.47%
YTD
4.38%
1Y
6.90%
3Y*
11.54%
5Y*
8.31%
10Y*
7.62%

INCM.AX

1D
0.45%
1M
1.52%
6M
5.09%
YTD
5.20%
1Y
13.25%
3Y*
15.38%
5Y*
11.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

RDV.AX vs. INCM.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
RDV.AX
Russell Investments High Dividend Australian Shares ETF		4.38%12.55%12.31%8.23%2.30%15.36%-5.86%19.92%-3.32%
INCM.AX
Betashares S&P Global High Dividend Aristocrats ETF		5.20%12.81%22.92%3.86%5.85%25.47%-23.29%22.95%-4.68%

Correlation

The correlation between RDV.AX and INCM.AX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.32

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

0.28

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

0.33

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2018

0.38

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Russell Investments High Dividend Australian Shares ETF

Betashares S&P Global High Dividend Aristocrats ETF

Return for Risk

RDV.AX vs. INCM.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RDV.AX
RDV.AX Risk / Return Rank: 2323
Overall Rank
RDV.AX Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
RDV.AX Sortino Ratio Rank: 2222
Sortino Ratio Rank
RDV.AX Omega Ratio Rank: 2222
Omega Ratio Rank
RDV.AX Calmar Ratio Rank: 2828
Calmar Ratio Rank
RDV.AX Martin Ratio Rank: 2222
Martin Ratio Rank
INCM.AX
INCM.AX Risk / Return Rank: 5252
Overall Rank
INCM.AX Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
INCM.AX Sortino Ratio Rank: 6161
Sortino Ratio Rank
INCM.AX Omega Ratio Rank: 5757
Omega Ratio Rank
INCM.AX Calmar Ratio Rank: 4343
Calmar Ratio Rank
INCM.AX Martin Ratio Rank: 3838
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.

RDV.AX vs. INCM.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments High Dividend Australian Shares ETF (RDV.AX) and Betashares S&P Global High Dividend Aristocrats ETF (INCM.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.

RDV.AXINCM.AXDifference
Sharpe ratioReturn per unit of total volatility
0.71
1.60

-0.89

Sortino ratioReturn per unit of downside risk
1.03
2.33

-1.30

Omega ratioGain probability vs. loss probability

1.13

1.29

-0.16

Calmar ratioReturn relative to maximum drawdown

1.16

1.80

-0.64

Martin ratioReturn relative to average drawdown

2.19

4.94

-2.75

RDV.AX vs. INCM.AX - Sharpe Ratio Comparison

The current RDV.AX Sharpe Ratio is 0.71, which is lower than the INCM.AX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of RDV.AX and INCM.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

RDV.AX vs. INCM.AX - Drawdown Comparison

The maximum RDV.AX drawdown since its inception was -40.60%, which is greater than INCM.AX's maximum drawdown of -35.00%. Use the drawdown chart below to compare losses from any high point for RDV.AX and INCM.AX.

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Drawdown Indicators

RDV.AXINCM.AXDifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-35.00%

-5.60%

Max Drawdown (1Y)

Largest decline over 1 year

-6.38%

-7.73%

+1.35%

Max Drawdown (3Y)

Largest decline over 3 years

-10.09%

-8.19%

-1.90%

Max Drawdown (5Y)

Largest decline over 5 years

-14.71%

-9.48%

-5.23%

Max Drawdown (10Y)

Largest decline over 10 years

-40.60%

—

—

Current Drawdown

Current decline from peak

-1.31%

-1.04%

-0.27%

Average Drawdown

Average peak-to-trough decline

-5.16%

-6.90%

+1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.45%

2.86%

+0.59%

Volatility

RDV.AX vs. INCM.AX - Volatility Comparison

The current volatility for Russell Investments High Dividend Australian Shares ETF (RDV.AX) is 2.10%, while Betashares S&P Global High Dividend Aristocrats ETF (INCM.AX) has a volatility of 2.57%. This indicates that RDV.AX experiences smaller price fluctuations and is considered to be less risky than INCM.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RDV.AXINCM.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.10%

2.57%

-0.47%

Volatility (6M)

Calculated over the trailing 6-month period

8.19%

6.74%

+1.45%

Volatility (1Y)

Calculated over the trailing 1-year period

10.44%

8.79%

+1.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.19%

11.87%

+0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.78%

14.65%

+0.13%

Dividends

RDV.AX vs. INCM.AX - Dividend Comparison

RDV.AX's dividend yield for the trailing twelve months is around 4.03%, less than INCM.AX's 4.38% yield.

PositionTTM20252024202320222021202020192018201720162015
INCM.AX
Betashares S&P Global High Dividend Aristocrats ETF		4.38%5.93%2.87%3.43%3.03%3.06%3.97%3.20%0.00%0.00%0.00%0.00%
RDV.AX
Russell Investments High Dividend Australian Shares ETF		4.03%4.60%4.02%4.90%6.65%4.12%3.21%6.54%7.41%5.41%4.44%5.93%

Frequently Asked Questions

RDV.AX and INCM.AX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RDV.AX tracks Russell Investments High Dividend Australian Shares Index, while INCM.AX tracks Betashares S&P Global High Dividend Aristocrats Index. They also come from different issuers: Russell and BetaShares.

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