USD.AX vs. SEMI.AX
USD.AX (BetaShares U.S. Dollar ETF) and SEMI.AX (Global X Semiconductor ETF) are both Global Equities funds - USD.AX tracks the BetaShares U.S. Dollar Index while SEMI.AX tracks the Global X Semiconductor Index. Both are passively managed. Over the past 3 years, USD.AX returned 3.39%/yr vs 56.20%/yr for SEMI.AX. At a correlation of -0.24, they often move in opposite directions.
Performance
USD.AX vs. SEMI.AX - Performance Comparison
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Returns By Period
In the year-to-date period, USD.AX achieves a -2.48% return, which is significantly lower than SEMI.AX's 73.20% 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%
SEMI.AX
- 1D
- -5.18%
- 1M
- -8.58%
- 6M
- 56.90%
- YTD
- 73.20%
- 1Y
- 121.94%
- 3Y*
- 56.20%
- 5Y*
- —
- 10Y*
- —
USD.AX vs. SEMI.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USD.AX BetaShares U.S. Dollar ETF | -2.48% | -3.37% | 15.22% | 3.37% | 8.32% | 0.15% |
SEMI.AX Global X Semiconductor ETF | 73.20% | 43.80% | 35.17% | 69.12% | -30.92% | 15.60% |
Correlation
The correlation between USD.AX and SEMI.AX is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021 | -0.24 |
The correlation between USD.AX and SEMI.AX shifts across timeframes, from -0.33 (1 year) to -0.20 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USD.AX vs. SEMI.AX — Risk / Return Rank
USD.AX
SEMI.AX
USD.AX vs. SEMI.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 Semiconductor ETF (SEMI.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.AX | SEMI.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.66 | ||
| Sortino ratioReturn per unit of downside risk | -4.12 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.50 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 8.01 | -8.35 |
| Martin ratioReturn relative to average drawdown | -0.62 | 25.91 | -26.53 |
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Drawdowns
USD.AX vs. SEMI.AX - Drawdown Comparison
The maximum USD.AX drawdown since its inception was -30.05%, smaller than the maximum SEMI.AX drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for USD.AX and SEMI.AX.
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Drawdown Indicators
| USD.AX | SEMI.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.05% | -38.85% | +8.80% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -14.32% | +4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -14.54% | -32.53% | +17.99% |
Max Drawdown (5Y)Largest decline over 5 years | -14.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.05% | — | — |
Current DrawdownCurrent decline from peak | -10.73% | -14.32% | +3.59% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -10.86% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 4.48% | +1.01% |
Volatility
USD.AX vs. SEMI.AX - Volatility Comparison
The current volatility for BetaShares U.S. Dollar ETF (USD.AX) is 1.70%, while Global X Semiconductor ETF (SEMI.AX) has a volatility of 15.14%. This indicates that USD.AX experiences smaller price fluctuations and is considered to be less risky than SEMI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USD.AX | SEMI.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 15.14% | -13.44% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 29.63% | -22.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.46% | 34.76% | -25.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 31.62% | -20.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 31.62% | -21.06% |
Dividends
USD.AX vs. SEMI.AX - Dividend Comparison
USD.AX has not paid dividends to shareholders, while SEMI.AX's dividend yield for the trailing twelve months is around 7.62%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SEMI.AX Global X Semiconductor ETF | 7.62% | 5.60% | 3.44% | 0.54% | 0.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 SEMI.AX have a correlation of -0.33, 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 SEMI.AX tracks Global X Semiconductor Index. They also come from different issuers: BetaShares and Global X.
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