VAS.AX vs. A200.AX

Last updated Jun 4, 2026

VAS.AX (Vanguard Australian Shares Index ETF) and A200.AX (Betashares Australia 200 ETF) are both exchange-traded funds - VAS.AX is a Asia Pacific Equities fund tracking the S&P/ASX 300 Index, while A200.AX is a fund fund tracking the Solactive Australia 200 Index. Both are passively managed. Over the past 5 years, VAS.AX returned 7.62%/yr vs 7.95%/yr for A200.AX. With a 0.98 correlation, they move nearly in lockstep. VAS.AX charges 0.07%/yr vs 0.04%/yr for A200.AX.

Performance

VAS.AX vs. A200.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Australian Shares Index ETF (VAS.AX) and Betashares Australia 200 ETF (A200.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VAS.AX achieves a 2.04% return, which is significantly lower than A200.AX's 2.57% return.

VAS.AX

• 1D: 0.75%
• 1M: 1.53%
• YTD: 2.04%
• 6M: 3.80%
• 1Y: 7.34%
• 3Y*: 10.91%
• 5Y*: 7.62%
• 10Y*: 9.18%

A200.AX

• 1D: 0.77%
• 1M: 1.45%
• YTD: 2.57%
• 6M: 4.30%
• 1Y: 7.42%
• 3Y*: 11.10%
• 5Y*: 7.95%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VAS.AX vs. A200.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VAS.AX Vanguard Australian Shares Index ETF	2.04%	10.66%	11.40%	12.00%	-1.68%	17.04%	1.90%	23.77%	-4.67%
A200.AX Betashares Australia 200 ETF	2.57%	10.31%	11.57%	12.00%	-0.56%	17.90%	1.16%	22.87%	-3.83%

Correlation

The correlation between VAS.AX and A200.AX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 8, 2018	0.98

The correlation between VAS.AX and A200.AX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

VAS.AX vs. A200.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VAS.AX

VAS.AX Risk / Return Rank: 19
VAS.AX Sharpe Ratio Rank: 19
VAS.AX Sortino Ratio Rank: 18
VAS.AX Omega Ratio Rank: 19
VAS.AX Calmar Ratio Rank: 20
VAS.AX Martin Ratio Rank: 20

A200.AX

A200.AX Risk / Return Rank: 19
A200.AX Sharpe Ratio Rank: 19
A200.AX Sortino Ratio Rank: 18
A200.AX Omega Ratio Rank: 19
A200.AX Calmar Ratio Rank: 20
A200.AX Martin Ratio Rank: 19

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.

VAS.AX vs. A200.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Australian Shares Index ETF (VAS.AX) and Betashares Australia 200 ETF (A200.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.

	VAS.AX	A200.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.62	0.63	-0.01
Sortino ratio: Return per unit of downside risk	0.94	0.96	-0.02
Omega ratio: Gain probability vs. loss probability	1.12	1.12	0.00
Calmar ratio: Return relative to maximum drawdown	0.85	0.88	-0.03
Martin ratio: Return relative to average drawdown	2.21	2.26	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAS.AX vs. A200.AX - Sharpe Ratio Comparison

The current VAS.AX Sharpe Ratio is 0.62, which is comparable to the A200.AX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of VAS.AX and A200.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.

Sharpe Ratios by Period

	VAS.AX	A200.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	0.63	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.63	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.58	+0.02

Drawdowns

VAS.AX vs. A200.AX - Drawdown Comparison

The maximum VAS.AX drawdown since its inception was -35.75%, roughly equal to the maximum A200.AX drawdown of -35.55%. Use the drawdown chart below to compare losses from any high point for VAS.AX and A200.AX.

Drawdown Indicators

	VAS.AX	A200.AX	Difference
Max Drawdown Largest peak-to-trough decline	-35.75%	-35.55%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-8.40%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-13.23%	-13.22%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-14.79%	-0.39%
Max Drawdown (10Y) Largest decline over 10 years	-35.75%	—	—
Current Drawdown Current decline from peak	-3.45%	-3.36%	-0.09%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.21%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.28%	+0.03%

Volatility

VAS.AX vs. A200.AX - Volatility Comparison

Vanguard Australian Shares Index ETF (VAS.AX) and Betashares Australia 200 ETF (A200.AX) have volatilities of 4.29% and 4.17%, 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.

Volatility by Period

	VAS.AX	A200.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	4.17%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	9.51%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	11.79%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.77%	12.65%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.45%	15.29%	-0.84%

VAS.AX vs. A200.AX - Expense Ratio Comparison

VAS.AX has a 0.07% expense ratio, which is higher than A200.AX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VAS.AX vs. A200.AX - Dividend Comparison

VAS.AX's dividend yield for the trailing twelve months is around 3.12%, less than A200.AX's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
A200.AX Betashares Australia 200 ETF	3.35%	3.33%	3.13%	3.75%	6.35%	2.98%	2.54%	3.61%	1.40%	0.00%	0.00%	0.00%
VAS.AX Vanguard Australian Shares Index ETF	3.12%	3.17%	3.22%	3.71%	7.19%	3.01%	2.56%	4.12%	4.84%	3.76%	4.14%	4.30%

Frequently Asked Questions

Can I hold both VAS.AX and A200.AX in my portfolio?

With a correlation of 0.99, VAS.AX and A200.AX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VAS.AX or A200.AX?

On fees, A200.AX is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAS.AX or A200.AX?

A200.AX is cheaper with a 0.04% expense ratio, compared with 0.07% for VAS.AX.

What is the main difference between VAS.AX and A200.AX?

VAS.AX tracks S&P/ASX 300 Index, while A200.AX tracks Solactive Australia 200 Index. They also come from different issuers: Vanguard and BetaShares. Their fees differ too: 0.07% for VAS.AX and 0.04% for A200.AX.