PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
REIT.AX vs. SUBD.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

REIT.AX vs. SUBD.AX

Last updated Jul 16, 2026
Documentation

REIT.AX (VanEck FTSE International Property (AUD Hedged) ETF) and SUBD.AX (Vaneck Australian Subordinated Debt ETF) are both exchange-traded funds - REIT.AX is a REIT fund tracking the VanEck FTSE International Property (AUD Hedged) Index, while SUBD.AX is a High Yield Bonds fund tracking the iBoxx AUD Investment Grade Subordinated Debt Mid Price Index. Both are passively managed. Over the past 5 years, REIT.AX returned -0.28%/yr vs 4.63%/yr for SUBD.AX. At a correlation of -0.02, they often move in opposite directions.

Performance

REIT.AX vs. SUBD.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck FTSE International Property (AUD Hedged) ETF (REIT.AX) and Vaneck Australian Subordinated Debt ETF (SUBD.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, REIT.AX achieves a 11.07% return, which is significantly higher than SUBD.AX's 3.04% return.

REIT.AX

1D
1.12%
1M
0.53%
6M
11.21%
YTD
11.07%
1Y
14.43%
3Y*
6.97%
5Y*
-0.28%
10Y*
—

SUBD.AX

1D
0.04%
1M
0.80%
6M
2.67%
YTD
3.04%
1Y
6.00%
3Y*
6.36%
5Y*
4.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

REIT.AX vs. SUBD.AX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
REIT.AX
VanEck FTSE International Property (AUD Hedged) ETF		11.07%7.01%-1.59%6.46%-26.16%31.83%-13.54%-2.53%
SUBD.AX
Vaneck Australian Subordinated Debt ETF		3.04%5.55%7.13%7.11%0.27%2.12%2.39%0.59%

Correlation

The correlation between REIT.AX and SUBD.AX is -0.03, 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

-0.03

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

-0.04

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

-0.03

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2019

-0.02

Compare stocks, funds, or ETFs

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

VanEck FTSE International Property (AUD Hedged) ETF

Vaneck Australian Subordinated Debt ETF

Often compared with SUBD.AX:
SUBD.AX vs. ERNS.LSUBD.AX vs. ZFH.TOSUBD.AX vs. CSH2.L

Return for Risk

REIT.AX vs. SUBD.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
REIT.AX
REIT.AX Risk / Return Rank: 3636
Overall Rank
REIT.AX Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
REIT.AX Sortino Ratio Rank: 3333
Sortino Ratio Rank
REIT.AX Omega Ratio Rank: 3333
Omega Ratio Rank
REIT.AX Calmar Ratio Rank: 3939
Calmar Ratio Rank
REIT.AX Martin Ratio Rank: 4343
Martin Ratio Rank
SUBD.AX
SUBD.AX Risk / Return Rank: 9999
Overall Rank
SUBD.AX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
SUBD.AX Sortino Ratio Rank: 9999
Sortino Ratio Rank
SUBD.AX Omega Ratio Rank: 9999
Omega Ratio Rank
SUBD.AX Calmar Ratio Rank: 9999
Calmar Ratio Rank
SUBD.AX Martin Ratio Rank: 9999
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.

REIT.AX vs. SUBD.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck FTSE International Property (AUD Hedged) ETF (REIT.AX) and Vaneck Australian Subordinated Debt ETF (SUBD.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.

REIT.AXSUBD.AXDifference
Sharpe ratioReturn per unit of total volatility
1.04
6.73

-5.69

Sortino ratioReturn per unit of downside risk
1.50
12.70

-11.19

Omega ratioGain probability vs. loss probability

1.19

3.06

-1.87

Calmar ratioReturn relative to maximum drawdown

1.65

24.82

-23.17

Martin ratioReturn relative to average drawdown

5.59

101.01

-95.41

REIT.AX vs. SUBD.AX - Sharpe Ratio Comparison

The current REIT.AX Sharpe Ratio is 1.04, which is lower than the SUBD.AX Sharpe Ratio of 6.73. The chart below compares the historical Sharpe Ratios of REIT.AX and SUBD.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

REIT.AX vs. SUBD.AX - Drawdown Comparison

The maximum REIT.AX drawdown since its inception was -42.54%, which is greater than SUBD.AX's maximum drawdown of -10.85%. Use the drawdown chart below to compare losses from any high point for REIT.AX and SUBD.AX.

Loading charts...

Drawdown Indicators

REIT.AXSUBD.AXDifference

Max Drawdown

Largest peak-to-trough decline

-42.54%

-10.85%

-31.69%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-0.24%

-8.80%

Max Drawdown (3Y)

Largest decline over 3 years

-19.42%

-1.19%

-18.23%

Max Drawdown (5Y)

Largest decline over 5 years

-35.77%

-2.99%

-32.78%

Current Drawdown

Current decline from peak

-8.05%

0.00%

-8.05%

Average Drawdown

Average peak-to-trough decline

-16.76%

-0.44%

-16.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

0.06%

+2.63%

Volatility

REIT.AX vs. SUBD.AX - Volatility Comparison

VanEck FTSE International Property (AUD Hedged) ETF (REIT.AX) has a higher volatility of 3.92% compared to Vaneck Australian Subordinated Debt ETF (SUBD.AX) at 0.27%. This indicates that REIT.AX's price experiences larger fluctuations and is considered to be riskier than SUBD.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

REIT.AXSUBD.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

0.27%

+3.65%

Volatility (6M)

Calculated over the trailing 6-month period

11.91%

0.64%

+11.27%

Volatility (1Y)

Calculated over the trailing 1-year period

14.39%

0.88%

+13.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.02%

1.35%

+16.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.77%

4.76%

+15.01%

Dividends

REIT.AX vs. SUBD.AX - Dividend Comparison

REIT.AX's dividend yield for the trailing twelve months is around 3.31%, less than SUBD.AX's 5.35% yield.

PositionTTM2025202420232022202120202019
REIT.AX
VanEck FTSE International Property (AUD Hedged) ETF		3.31%4.47%2.25%3.16%3.25%3.16%4.30%1.83%
SUBD.AX
Vaneck Australian Subordinated Debt ETF		5.35%5.54%5.85%5.13%2.60%1.90%2.01%0.18%

Frequently Asked Questions

REIT.AX and SUBD.AX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

REIT.AX is categorized as REIT, while SUBD.AX is High Yield Bonds. REIT.AX tracks VanEck FTSE International Property (AUD Hedged) Index, while SUBD.AX tracks iBoxx AUD Investment Grade Subordinated Debt Mid Price Index.

Portfolio Optimizer

Find the right allocation for REIT.AX and SUBD.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