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WXHG.AX vs. BOND.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WXHG.AX vs. BOND.AX

Last updated Jul 18, 2026
Documentation

WXHG.AX (SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF) and BOND.AX (State Street SPDR S&P/ASX iBoxx Australian Bond ETF) are both exchange-traded funds - WXHG.AX is a Global Equities fund tracking the SPDR Index, while BOND.AX is a Total Bond Market fund tracking the S&P/ASX iBoxx Australian Fixed Interest Diversified 0+ Index. Both are passively managed. Over the past 10 years, WXHG.AX returned 11.79%/yr vs 1.38%/yr for BOND.AX. At a correlation of -0.05, they often move in opposite directions.

Performance

WXHG.AX vs. BOND.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) and State Street SPDR S&P/ASX iBoxx Australian Bond ETF (BOND.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WXHG.AX achieves a 6.30% return, which is significantly higher than BOND.AX's 1.98% return. Over the past 10 years, WXHG.AX has outperformed BOND.AX with an annualized return of 11.79%, while BOND.AX has yielded a comparatively lower 1.38% annualized return.

WXHG.AX

1D
-1.05%
1M
-0.38%
6M
4.97%
YTD
6.30%
1Y
18.02%
3Y*
17.16%
5Y*
10.02%
10Y*
11.79%

BOND.AX

1D
0.00%
1M
-0.11%
6M
1.26%
YTD
1.98%
1Y
1.93%
3Y*
3.71%
5Y*
-0.36%
10Y*
1.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WXHG.AX vs. BOND.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WXHG.AX
SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF		6.30%18.99%19.77%23.72%-19.94%23.36%10.60%25.72%-8.51%20.03%
BOND.AX
State Street SPDR S&P/ASX iBoxx Australian Bond ETF		1.98%3.65%2.45%5.10%-11.40%-3.40%3.81%7.79%4.70%3.50%

Correlation

The correlation between WXHG.AX and BOND.AX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.22

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

0.16

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

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

0.00

Correlation (All Time)
Calculated using the full available price history since Jul 8, 2013

-0.05

The correlation between WXHG.AX and BOND.AX shifts across timeframes, from -0.05 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

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SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF

State Street SPDR S&P/ASX iBoxx Australian Bond ETF

Often compared with WXHG.AX:
WXHG.AX vs. SSO.AXWXHG.AX vs. DJRE.AXWXHG.AX vs. GOVT.AXWXHG.AX vs. OOO.AXWXHG.AX vs. OZF.AXWXHG.AX vs. OZR.AXWXHG.AX vs. SFY.AX
Often compared with BOND.AX:
BOND.AX vs. BNDS.AXBOND.AX vs. DJRE.AXBOND.AX vs. IAF.AXBOND.AX vs. IHEB.AXBOND.AX vs. IHHY.AXBOND.AX vs. QPON.AXBOND.AX vs. SLF.AX

Return for Risk

WXHG.AX vs. BOND.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WXHG.AX
WXHG.AX Risk / Return Rank: 5353
Overall Rank
WXHG.AX Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
WXHG.AX Sortino Ratio Rank: 5151
Sortino Ratio Rank
WXHG.AX Omega Ratio Rank: 5353
Omega Ratio Rank
WXHG.AX Calmar Ratio Rank: 4848
Calmar Ratio Rank
WXHG.AX Martin Ratio Rank: 6060
Martin Ratio Rank
BOND.AX
BOND.AX Risk / Return Rank: 1818
Overall Rank
BOND.AX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BOND.AX Sortino Ratio Rank: 1717
Sortino Ratio Rank
BOND.AX Omega Ratio Rank: 1717
Omega Ratio Rank
BOND.AX Calmar Ratio Rank: 1919
Calmar Ratio Rank
BOND.AX Martin Ratio Rank: 1717
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.

WXHG.AX vs. BOND.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) and State Street SPDR S&P/ASX iBoxx Australian Bond ETF (BOND.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.

WXHG.AXBOND.AXDifference
Sharpe ratioReturn per unit of total volatility
1.35
0.45

+0.91

Sortino ratioReturn per unit of downside risk
1.90
0.69

+1.22

Omega ratioGain probability vs. loss probability

1.25

1.08

+0.17

Calmar ratioReturn relative to maximum drawdown

1.87

0.55

+1.31

Martin ratioReturn relative to average drawdown

7.77

1.18

+6.59

WXHG.AX vs. BOND.AX - Sharpe Ratio Comparison

The current WXHG.AX Sharpe Ratio is 1.35, which is higher than the BOND.AX Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of WXHG.AX and BOND.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.

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Drawdowns

WXHG.AX vs. BOND.AX - Drawdown Comparison

The maximum WXHG.AX drawdown since its inception was -36.37%, which is greater than BOND.AX's maximum drawdown of -17.15%. Use the drawdown chart below to compare losses from any high point for WXHG.AX and BOND.AX.

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Drawdown Indicators

WXHG.AXBOND.AXDifference

Max Drawdown

Largest peak-to-trough decline

-36.37%

-17.15%

-19.22%

Max Drawdown (1Y)

Largest decline over 1 year

-9.34%

-3.35%

-5.99%

Max Drawdown (3Y)

Largest decline over 3 years

-18.93%

-4.16%

-14.77%

Max Drawdown (5Y)

Largest decline over 5 years

-26.29%

-16.69%

-9.60%

Max Drawdown (10Y)

Largest decline over 10 years

-36.37%

-17.15%

-19.22%

Current Drawdown

Current decline from peak

-1.09%

-3.54%

+2.45%

Average Drawdown

Average peak-to-trough decline

-4.59%

-3.97%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.27%

1.61%

+0.66%

Volatility

WXHG.AX vs. BOND.AX - Volatility Comparison

SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) has a higher volatility of 2.76% compared to State Street SPDR S&P/ASX iBoxx Australian Bond ETF (BOND.AX) at 0.82%. This indicates that WXHG.AX's price experiences larger fluctuations and is considered to be riskier than BOND.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WXHG.AXBOND.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.76%

0.82%

+1.94%

Volatility (6M)

Calculated over the trailing 6-month period

10.97%

3.03%

+7.94%

Volatility (1Y)

Calculated over the trailing 1-year period

12.87%

4.18%

+8.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.45%

5.65%

+10.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.86%

5.01%

+11.85%

Dividends

WXHG.AX vs. BOND.AX - Dividend Comparison

WXHG.AX's dividend yield for the trailing twelve months is around 7.19%, more than BOND.AX's 4.09% yield.

PositionTTM20252024202320222021202020192018201720162015
BOND.AX
State Street SPDR S&P/ASX iBoxx Australian Bond ETF		4.09%2.90%1.06%0.17%0.73%1.87%1.60%1.76%2.62%2.67%3.64%3.41%
WXHG.AX
SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF		7.19%6.68%6.35%5.69%25.09%2.77%3.83%4.25%2.54%2.83%3.55%5.33%

Frequently Asked Questions

WXHG.AX and BOND.AX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WXHG.AX is categorized as Global Equities, while BOND.AX is Total Bond Market. WXHG.AX tracks SPDR Index, while BOND.AX tracks S&P/ASX iBoxx Australian Fixed Interest Diversified 0+ Index.

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