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STO.AX vs. VSO.AX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

STO.AX vs. VSO.AX

Last updated Apr 2, 2026

Compare and contrast key facts about Santos Limited (STO.AX) and Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX).

VSO.AX is a passively managed fund by Vanguard that tracks the performance of the MSCI Australian Shares Small Cap Index. It was launched on May 23, 2011.

Performance

STO.AX vs. VSO.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Santos Limited (STO.AX) and Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX). The values are adjusted to include any dividend payments, if applicable.

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STO.AX vs. VSO.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
STO.AX
Santos Limited		31.94%-2.86%-6.38%11.89%16.79%2.91%-22.19%53.04%1.26%35.57%
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		-6.66%24.14%8.91%6.32%-11.74%21.77%14.75%21.67%-7.43%17.67%

Returns By Period

In the year-to-date period, STO.AX achieves a 31.94% return, which is significantly higher than VSO.AX's -6.66% return. Over the past 10 years, STO.AX has outperformed VSO.AX with an annualized return of 10.46%, while VSO.AX has yielded a comparatively lower 9.71% annualized return.

STO.AX

1D
0.13%
1M
10.54%
YTD
31.94%
6M
20.43%
1Y
23.38%
3Y*
10.39%
5Y*
7.08%
10Y*
10.46%

VSO.AX

1D
2.54%
1M
-7.87%
YTD
-6.66%
6M
-5.40%
1Y
17.76%
3Y*
10.48%
5Y*
6.92%
10Y*
9.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Santos Limited

Vanguard MSCI Australian Small Companies INDEX ETF

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Return for Risk

STO.AX vs. VSO.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
STO.AX
STO.AX Risk / Return Rank: 6060
Overall Rank
STO.AX Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
STO.AX Sortino Ratio Rank: 5757
Sortino Ratio Rank
STO.AX Omega Ratio Rank: 6060
Omega Ratio Rank
STO.AX Calmar Ratio Rank: 6060
Calmar Ratio Rank
STO.AX Martin Ratio Rank: 5858
Martin Ratio Rank
VSO.AX
VSO.AX Risk / Return Rank: 4545
Overall Rank
VSO.AX Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
VSO.AX Sortino Ratio Rank: 5151
Sortino Ratio Rank
VSO.AX Omega Ratio Rank: 4747
Omega Ratio Rank
VSO.AX Calmar Ratio Rank: 3737
Calmar Ratio Rank
VSO.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.

STO.AX vs. VSO.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Santos Limited (STO.AX) and Vanguard MSCI Australian Small Companies INDEX ETF (VSO.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.

STO.AXVSO.AXDifference

Sharpe ratio

Return per unit of total volatility

0.69

1.00

-0.30

Sortino ratio

Return per unit of downside risk

1.11

1.43

-0.32

Omega ratio

Gain probability vs. loss probability

1.17

1.19

-0.02

Calmar ratio

Return relative to maximum drawdown

0.96

1.11

-0.15

Martin ratio

Return relative to average drawdown

1.89

4.08

-2.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

STO.AX vs. VSO.AX - Sharpe Ratio Comparison

The current STO.AX Sharpe Ratio is 0.69, which is lower than the VSO.AX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of STO.AX and VSO.AX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

STO.AXVSO.AXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.69

1.00

-0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

0.43

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

0.57

-0.29

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.39

-0.17

Correlation

The correlation between STO.AX and VSO.AX is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

STO.AX vs. VSO.AX - Dividend Comparison

STO.AX's dividend yield for the trailing twelve months is around 4.37%, less than VSO.AX's 7.35% yield.

TTM20252024202320222021202020192018201720162015
STO.AX
Santos Limited		4.37%5.93%6.88%4.71%3.18%2.22%1.67%2.14%0.87%0.00%1.24%7.10%
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		7.35%6.86%2.44%3.89%5.39%3.55%6.24%2.96%2.21%3.86%3.30%2.68%

Drawdowns

STO.AX vs. VSO.AX - Drawdown Comparison

The maximum STO.AX drawdown since its inception was -81.23%, which is greater than VSO.AX's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for STO.AX and VSO.AX.

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Drawdown Indicators

STO.AXVSO.AXDifference

Max Drawdown

Largest peak-to-trough decline

-81.23%

-40.60%

-40.63%

Max Drawdown (1Y)

Largest decline over 1 year

-24.97%

-16.81%

-8.16%

Max Drawdown (5Y)

Largest decline over 5 years

-30.11%

-23.53%

-6.58%

Max Drawdown (10Y)

Largest decline over 10 years

-69.14%

-40.60%

-28.54%

Current Drawdown

Current decline from peak

-18.53%

-11.55%

-6.98%

Average Drawdown

Average peak-to-trough decline

-24.98%

-6.35%

-18.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.69%

4.57%

+8.12%

Volatility

STO.AX vs. VSO.AX - Volatility Comparison

Santos Limited (STO.AX) and Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX) have volatilities of 7.99% and 8.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

STO.AXVSO.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.99%

8.37%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

19.21%

13.64%

+5.57%

Volatility (1Y)

Calculated over the trailing 1-year period

33.54%

17.78%

+15.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.73%

16.11%

+11.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.17%

16.81%

+19.36%