UMAX.AX vs. YMAX.AX
UMAX.AX (Betashares S&P 500 Yield Maximiser Complex ETF) and YMAX.AX (Betashares Australian Top 20 Equities Yield Maximiser Complex ETF) are both exchange-traded funds - UMAX.AX is a Derivative Income fund actively managed by BetaShares, while YMAX.AX is a Australia Equities fund actively managed by BetaShares. Both are actively managed. Over the past 10 years, UMAX.AX returned 9.48%/yr vs 5.28%/yr for YMAX.AX. Their 0.33 correlation means their historical movements had little consistent relationship. UMAX.AX charges 0.79%/yr vs 0.64%/yr for YMAX.AX.
Performance
UMAX.AX vs. YMAX.AX - Performance Comparison
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Returns By Period
In the year-to-date period, UMAX.AX achieves a -0.96% return, which is significantly lower than YMAX.AX's 3.64% return. Over the past 10 years, UMAX.AX has outperformed YMAX.AX with an annualized return of 9.48%, while YMAX.AX has yielded a comparatively lower 5.28% annualized return.
UMAX.AX
- 1D
- 0.35%
- 1M
- -1.28%
- 6M
- 3.86%
- YTD
- -0.96%
- 1Y
- 4.81%
- 3Y*
- 10.42%
- 5Y*
- 9.25%
- 10Y*
- 9.48%
- ALL TIME*
- 9.78%
YMAX.AX
- 1D
- 0.26%
- 1M
- 2.97%
- 6M
- 4.06%
- YTD
- 3.64%
- 1Y
- 2.68%
- 3Y*
- 5.82%
- 5Y*
- 4.64%
- 10Y*
- 5.28%
- ALL TIME*
- 4.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| A$361.25K | A$824.64K | A$541.21K | |
| A$784.54K | A$811.76K | A$1.07M |
UMAX.AX vs. YMAX.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UMAX.AX Betashares S&P 500 Yield Maximiser Complex ETF | -0.96% | 4.00% | 31.81% | 15.37% | -9.29% | 29.75% | -6.67% | 22.95% | 2.49% | 5.84% |
YMAX.AX Betashares Australian Top 20 Equities Yield Maximiser Complex ETF | 3.64% | 2.55% | 5.33% | 10.63% | 1.82% | 15.02% | -2.73% | 14.44% | -5.59% | 4.13% |
Correlation
The correlation between UMAX.AX and YMAX.AX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2014 | 0.33 |
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Return for Risk
UMAX.AX vs. YMAX.AX — Risk / Return Rank
UMAX.AX
YMAX.AX
UMAX.AX vs. YMAX.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Betashares S&P 500 Yield Maximiser Complex ETF (UMAX.AX) and Betashares Australian Top 20 Equities Yield Maximiser Complex ETF (YMAX.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.
| UMAX.AX | YMAX.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.04 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.27 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.86 | 0.53 | +0.33 |
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Drawdowns
UMAX.AX vs. YMAX.AX - Drawdown Comparison
The maximum UMAX.AX drawdown since its inception was -24.10%, smaller than the maximum YMAX.AX drawdown of -31.97%. Use the drawdown chart below to compare losses from any high point for UMAX.AX and YMAX.AX.
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Drawdown Indicators
| UMAX.AX | YMAX.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.10% | -31.97% | +7.87% |
Max Drawdown (1Y)Largest decline over 1 year | -11.14% | -6.80% | -4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -11.90% | -3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -17.14% | -12.73% | -4.41% |
Max Drawdown (10Y)Largest decline over 10 years | -24.10% | -31.97% | +7.87% |
Current DrawdownCurrent decline from peak | -2.02% | -0.46% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -5.19% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 3.57% | +1.30% |
Volatility
UMAX.AX vs. YMAX.AX - Volatility Comparison
Betashares S&P 500 Yield Maximiser Complex ETF (UMAX.AX) and Betashares Australian Top 20 Equities Yield Maximiser Complex ETF (YMAX.AX) have volatilities of 2.25% and 2.30%, 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
| UMAX.AX | YMAX.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.30% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.68% | 8.64% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.96% | 11.26% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.93% | 11.42% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.41% | 13.70% | -0.29% |
UMAX.AX vs. YMAX.AX - Expense Ratio Comparison
UMAX.AX has a 0.79% expense ratio, which is higher than YMAX.AX's 0.64% expense ratio.
Dividends
UMAX.AX vs. YMAX.AX - Dividend Comparison
UMAX.AX's dividend yield for the trailing twelve months is around 3.17%, less than YMAX.AX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UMAX.AX Betashares S&P 500 Yield Maximiser Complex ETF | 3.17% | 5.33% | 2.19% | 4.02% | 5.79% | 5.05% | 7.02% | 5.43% | 4.06% | 3.16% | 4.12% | 4.55% |
YMAX.AX Betashares Australian Top 20 Equities Yield Maximiser Complex ETF | 4.44% | 8.05% | 3.52% | 6.15% | 7.34% | 8.58% | 8.18% | 9.01% | 7.13% | 6.46% | 7.18% | 6.73% |
Frequently Asked Questions
UMAX.AX and YMAX.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.
On fees, YMAX.AX is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
YMAX.AX is cheaper with a 0.64% expense ratio, compared with 0.79% for UMAX.AX.
UMAX.AX is categorized as Derivative Income, while YMAX.AX is Australia Equities. Their fees differ too: 0.79% for UMAX.AX and 0.64% for YMAX.AX.
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