WRLD.AX vs. UMAX.AX

Last updated Jul 18, 2026

WRLD.AX (Betashares Managed Risk Global Shares Complex ETF) and UMAX.AX (Betashares S&P 500 Yield Maximiser Complex ETF) are both Global Equities funds from BetaShares. Both are actively managed. Over the past 10 years, WRLD.AX returned 9.87%/yr vs 9.53%/yr for UMAX.AX. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

WRLD.AX vs. UMAX.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Managed Risk Global Shares Complex ETF (WRLD.AX) and Betashares S&P 500 Yield Maximiser Complex ETF (UMAX.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WRLD.AX achieves a 3.25% return, which is significantly higher than UMAX.AX's -0.54% return. Both investments have delivered pretty close results over the past 10 years, with WRLD.AX having a 9.87% annualized return and UMAX.AX not far behind at 9.53%.

WRLD.AX

• 1D: -1.26%
• 1M: 0.34%
• 6M: 2.17%
• YTD: 3.25%
• 1Y: 11.33%
• 3Y*: 15.69%
• 5Y*: 10.05%
• 10Y*: 9.87%

UMAX.AX

• 1D: -1.20%
• 1M: 0.97%
• 6M: -0.36%
• YTD: -0.54%
• 1Y: 6.66%
• 3Y*: 11.88%
• 5Y*: 9.47%
• 10Y*: 9.53%

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

WRLD.AX vs. UMAX.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WRLD.AX Betashares Managed Risk Global Shares Complex ETF	3.25%	9.59%	29.10%	13.20%	-10.32%	23.66%	-3.31%	22.48%	-0.50%	10.96%
UMAX.AX Betashares S&P 500 Yield Maximiser Complex ETF	-0.54%	4.00%	31.81%	15.37%	-9.29%	29.75%	-6.67%	22.95%	2.49%	5.84%

Correlation

The correlation between WRLD.AX and UMAX.AX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 16, 2015	0.68

The correlation between WRLD.AX and UMAX.AX shifts across timeframes, from 0.58 (1 year) to 0.69 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

WRLD.AX vs. UMAX.AX — Risk / Return Rank

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

WRLD.AX

WRLD.AX Risk / Return Rank: 40
WRLD.AX Sharpe Ratio Rank: 46
WRLD.AX Sortino Ratio Rank: 45
WRLD.AX Omega Ratio Rank: 44
WRLD.AX Calmar Ratio Rank: 31
WRLD.AX Martin Ratio Rank: 32

UMAX.AX

UMAX.AX Risk / Return Rank: 21
UMAX.AX Sharpe Ratio Rank: 24
UMAX.AX Sortino Ratio Rank: 21
UMAX.AX Omega Ratio Rank: 22
UMAX.AX Calmar Ratio Rank: 19
UMAX.AX Martin Ratio Rank: 18

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.

WRLD.AX vs. UMAX.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Managed Risk Global Shares Complex ETF (WRLD.AX) and Betashares S&P 500 Yield Maximiser Complex ETF (UMAX.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.

	WRLD.AX	UMAX.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.65	+0.59
Sortino ratio: Return per unit of downside risk	1.77	0.94	+0.83
Omega ratio: Gain probability vs. loss probability	1.22	1.12	+0.10
Calmar ratio: Return relative to maximum drawdown	1.20	0.58	+0.63
Martin ratio: Return relative to average drawdown	3.44	1.35	+2.09

WRLD.AX vs. UMAX.AX - Sharpe Ratio Comparison

The current WRLD.AX Sharpe Ratio is 1.24, which is higher than the UMAX.AX Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of WRLD.AX and UMAX.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.

Drawdowns

WRLD.AX vs. UMAX.AX - Drawdown Comparison

The maximum WRLD.AX drawdown since its inception was -16.14%, smaller than the maximum UMAX.AX drawdown of -24.10%. Use the drawdown chart below to compare losses from any high point for WRLD.AX and UMAX.AX.

Drawdown Indicators

	WRLD.AX	UMAX.AX	Difference
Max Drawdown Largest peak-to-trough decline	-16.14%	-24.10%	+7.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-11.14%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-13.70%	-15.42%	+1.72%
Max Drawdown (5Y) Largest decline over 5 years	-14.47%	-17.14%	+2.67%
Max Drawdown (10Y) Largest decline over 10 years	-16.14%	-24.10%	+7.96%
Current Drawdown Current decline from peak	-1.76%	-1.61%	-0.15%
Average Drawdown Average peak-to-trough decline	-4.18%	-5.15%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	4.86%	-1.60%

Volatility

WRLD.AX vs. UMAX.AX - Volatility Comparison

The current volatility for Betashares Managed Risk Global Shares Complex ETF (WRLD.AX) is 2.21%, while Betashares S&P 500 Yield Maximiser Complex ETF (UMAX.AX) has a volatility of 3.05%. This indicates that WRLD.AX experiences smaller price fluctuations and is considered to be less risky than UMAX.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WRLD.AX	UMAX.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	3.05%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	6.88%	7.92%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	8.95%	9.94%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.37%	12.93%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.01%	13.42%	-2.41%

Dividends

WRLD.AX vs. UMAX.AX - Dividend Comparison

WRLD.AX has not paid dividends to shareholders, while UMAX.AX's dividend yield for the trailing twelve months is around 3.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMAX.AX Betashares S&P 500 Yield Maximiser Complex ETF	3.16%	5.33%	2.19%	4.02%	5.79%	5.05%	7.02%	5.43%	4.06%	3.16%	4.12%	4.55%
WRLD.AX Betashares Managed Risk Global Shares Complex ETF	0.00%	0.00%	0.00%	0.17%	4.66%	0.00%	0.00%	1.66%	0.90%	0.00%	0.51%	0.00%

Frequently Asked Questions

Can I hold both WRLD.AX and UMAX.AX in my portfolio?

WRLD.AX and UMAX.AX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.