PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
USD.AX vs. ESTX.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USD.AX vs. ESTX.AX

Last updated Jul 16, 2026
Documentation

USD.AX (BetaShares U.S. Dollar ETF) and ESTX.AX (Global X EURO STOXX 50 ETF) are both Global Equities funds - USD.AX tracks the BetaShares U.S. Dollar Index while ESTX.AX tracks the EURO STOXX 50 Index. Both are passively managed. Over the past 5 years, USD.AX returned 4.46%/yr vs 12.14%/yr for ESTX.AX. At a correlation of -0.09, they often move in opposite directions.

Performance

USD.AX vs. ESTX.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares U.S. Dollar ETF (USD.AX) and Global X EURO STOXX 50 ETF (ESTX.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, USD.AX achieves a -2.48% return, which is significantly lower than ESTX.AX's 3.22% return.

USD.AX

1D
-0.07%
1M
1.54%
6M
-2.68%
YTD
-2.48%
1Y
-3.06%
3Y*
3.39%
5Y*
4.46%
10Y*
2.72%

ESTX.AX

1D
0.34%
1M
0.52%
6M
-0.32%
YTD
3.22%
1Y
8.95%
3Y*
14.83%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD.AX vs. ESTX.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD.AX
BetaShares U.S. Dollar ETF		-2.48%-3.37%15.22%3.37%8.32%5.76%-8.86%2.76%11.63%-7.20%
ESTX.AX
Global X EURO STOXX 50 ETF		3.22%27.21%13.48%23.32%-7.46%18.99%-2.51%27.06%-8.09%15.99%

Correlation

The correlation between USD.AX and ESTX.AX is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.23

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

-0.14

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

-0.17

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2016

-0.09

The correlation between USD.AX and ESTX.AX shifts across timeframes, from -0.23 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

BetaShares U.S. Dollar ETF

Global X EURO STOXX 50 ETF

Return for Risk

USD.AX vs. ESTX.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD.AX
USD.AX Risk / Return Rank: 66
Overall Rank
USD.AX Sharpe Ratio Rank: 66
Sharpe Ratio Rank
USD.AX Sortino Ratio Rank: 66
Sortino Ratio Rank
USD.AX Omega Ratio Rank: 66
Omega Ratio Rank
USD.AX Calmar Ratio Rank: 66
Calmar Ratio Rank
USD.AX Martin Ratio Rank: 66
Martin Ratio Rank
ESTX.AX
ESTX.AX Risk / Return Rank: 2121
Overall Rank
ESTX.AX Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
ESTX.AX Sortino Ratio Rank: 2121
Sortino Ratio Rank
ESTX.AX Omega Ratio Rank: 2222
Omega Ratio Rank
ESTX.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
ESTX.AX Martin Ratio Rank: 2121
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.

USD.AX vs. ESTX.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares U.S. Dollar ETF (USD.AX) and Global X EURO STOXX 50 ETF (ESTX.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.

USD.AXESTX.AXDifference
Sharpe ratioReturn per unit of total volatility
-0.36
0.65

-1.01

Sortino ratioReturn per unit of downside risk
-0.42
1.00

-1.43

Omega ratioGain probability vs. loss probability

0.95

1.13

-0.18

Calmar ratioReturn relative to maximum drawdown

-0.34

0.71

-1.05

Martin ratioReturn relative to average drawdown

-0.62

2.05

-2.67

USD.AX vs. ESTX.AX - Sharpe Ratio Comparison

The current USD.AX Sharpe Ratio is -0.36, which is lower than the ESTX.AX Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of USD.AX and ESTX.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

USD.AX vs. ESTX.AX - Drawdown Comparison

The maximum USD.AX drawdown since its inception was -30.05%, roughly equal to the maximum ESTX.AX drawdown of -29.33%. Use the drawdown chart below to compare losses from any high point for USD.AX and ESTX.AX.

Loading charts...

Drawdown Indicators

USD.AXESTX.AXDifference

Max Drawdown

Largest peak-to-trough decline

-30.05%

-29.33%

-0.72%

Max Drawdown (1Y)

Largest decline over 1 year

-9.84%

-14.48%

+4.64%

Max Drawdown (3Y)

Largest decline over 3 years

-14.54%

-14.48%

-0.06%

Max Drawdown (5Y)

Largest decline over 5 years

-14.54%

-26.60%

+12.06%

Max Drawdown (10Y)

Largest decline over 10 years

-30.05%

—

—

Current Drawdown

Current decline from peak

-10.73%

-2.65%

-8.08%

Average Drawdown

Average peak-to-trough decline

-9.62%

-5.29%

-4.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.49%

5.06%

+0.43%

Volatility

USD.AX vs. ESTX.AX - Volatility Comparison

The current volatility for BetaShares U.S. Dollar ETF (USD.AX) is 1.70%, while Global X EURO STOXX 50 ETF (ESTX.AX) has a volatility of 3.11%. This indicates that USD.AX experiences smaller price fluctuations and is considered to be less risky than ESTX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

USD.AXESTX.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.70%

3.11%

-1.41%

Volatility (6M)

Calculated over the trailing 6-month period

7.36%

13.59%

-6.23%

Volatility (1Y)

Calculated over the trailing 1-year period

9.46%

15.76%

-6.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.02%

16.35%

-5.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.56%

16.23%

-5.67%

Dividends

USD.AX vs. ESTX.AX - Dividend Comparison

USD.AX has not paid dividends to shareholders, while ESTX.AX's dividend yield for the trailing twelve months is around 7.25%.

PositionTTM2025202420232022202120202019201820172016
ESTX.AX
Global X EURO STOXX 50 ETF		7.25%1.79%4.19%3.67%3.90%1.60%2.15%2.79%4.16%1.15%0.15%
USD.AX
BetaShares U.S. Dollar ETF		0.00%2.53%3.89%3.39%0.00%0.00%1.19%2.37%0.76%0.17%0.08%

Frequently Asked Questions

USD.AX and ESTX.AX have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USD.AX tracks BetaShares U.S. Dollar Index, while ESTX.AX tracks EURO STOXX 50 Index. They also come from different issuers: BetaShares and Global X.

Portfolio Optimizer

Find the right allocation for USD.AX and ESTX.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