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XARO.AX vs. INIF.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XARO.AX vs. INIF.AX

Last updated Jul 16, 2026
Documentation

XARO.AX (Ardea Real Outcome Bond Complex ETF) and INIF.AX (Intelligent Investor Australian Equity Income ETF) are both exchange-traded funds - XARO.AX is a Total Bond Market fund actively managed by ETF Issuer, while INIF.AX is a Dividend fund tracking the Intelligent Investor Australian Equity Income Index. XARO.AX is actively managed, while INIF.AX is passively managed. Over the past 5 years, XARO.AX returned 2.03%/yr vs 6.73%/yr for INIF.AX. At a correlation of -0.02, they often move in opposite directions.

Performance

XARO.AX vs. INIF.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Ardea Real Outcome Bond Complex ETF (XARO.AX) and Intelligent Investor Australian Equity Income ETF (INIF.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, XARO.AX achieves a 1.43% return, which is significantly higher than INIF.AX's 0.46% return.

XARO.AX

1D
0.12%
1M
0.96%
6M
1.47%
YTD
1.43%
1Y
4.40%
3Y*
2.59%
5Y*
2.03%
10Y*
—

INIF.AX

1D
0.37%
1M
-2.47%
6M
-1.51%
YTD
0.46%
1Y
9.33%
3Y*
5.69%
5Y*
6.73%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XARO.AX vs. INIF.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
XARO.AX
Ardea Real Outcome Bond Complex ETF		1.43%6.78%0.49%2.17%0.46%-0.60%5.21%8.56%0.20%
INIF.AX
Intelligent Investor Australian Equity Income ETF		0.46%14.36%-0.18%1.45%10.56%22.72%4.68%14.17%-0.16%

Correlation

The correlation between XARO.AX and INIF.AX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.07

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

0.01

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

-0.03

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2018

-0.02

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Ardea Real Outcome Bond Complex ETF

Intelligent Investor Australian Equity Income ETF

Return for Risk

XARO.AX vs. INIF.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XARO.AX
XARO.AX Risk / Return Rank: 4646
Overall Rank
XARO.AX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
XARO.AX Sortino Ratio Rank: 4747
Sortino Ratio Rank
XARO.AX Omega Ratio Rank: 4242
Omega Ratio Rank
XARO.AX Calmar Ratio Rank: 4747
Calmar Ratio Rank
XARO.AX Martin Ratio Rank: 5050
Martin Ratio Rank
INIF.AX
INIF.AX Risk / Return Rank: 2222
Overall Rank
INIF.AX Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
INIF.AX Sortino Ratio Rank: 2121
Sortino Ratio Rank
INIF.AX Omega Ratio Rank: 2222
Omega Ratio Rank
INIF.AX Calmar Ratio Rank: 2222
Calmar Ratio Rank
INIF.AX Martin Ratio Rank: 2323
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.

XARO.AX vs. INIF.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ardea Real Outcome Bond Complex ETF (XARO.AX) and Intelligent Investor Australian Equity Income ETF (INIF.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.

XARO.AXINIF.AXDifference
Sharpe ratioReturn per unit of total volatility
1.28
0.67

+0.61

Sortino ratioReturn per unit of downside risk
1.99
1.02

+0.96

Omega ratioGain probability vs. loss probability

1.23

1.13

+0.10

Calmar ratioReturn relative to maximum drawdown

1.94

0.87

+1.08

Martin ratioReturn relative to average drawdown

6.74

2.43

+4.31

XARO.AX vs. INIF.AX - Sharpe Ratio Comparison

The current XARO.AX Sharpe Ratio is 1.28, which is higher than the INIF.AX Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of XARO.AX and INIF.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

XARO.AX vs. INIF.AX - Drawdown Comparison

The maximum XARO.AX drawdown since its inception was -7.44%, smaller than the maximum INIF.AX drawdown of -40.96%. Use the drawdown chart below to compare losses from any high point for XARO.AX and INIF.AX.

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Drawdown Indicators

XARO.AXINIF.AXDifference

Max Drawdown

Largest peak-to-trough decline

-7.44%

-40.96%

+33.52%

Max Drawdown (1Y)

Largest decline over 1 year

-2.26%

-10.93%

+8.67%

Max Drawdown (3Y)

Largest decline over 3 years

-3.42%

-18.09%

+14.67%

Max Drawdown (5Y)

Largest decline over 5 years

-6.98%

-18.09%

+11.11%

Current Drawdown

Current decline from peak

-0.00%

-3.10%

+3.10%

Average Drawdown

Average peak-to-trough decline

-1.58%

-5.26%

+3.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

3.95%

-3.29%

Volatility

XARO.AX vs. INIF.AX - Volatility Comparison

The current volatility for Ardea Real Outcome Bond Complex ETF (XARO.AX) is 0.99%, while Intelligent Investor Australian Equity Income ETF (INIF.AX) has a volatility of 3.41%. This indicates that XARO.AX experiences smaller price fluctuations and is considered to be less risky than INIF.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XARO.AXINIF.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.99%

3.41%

-2.42%

Volatility (6M)

Calculated over the trailing 6-month period

2.69%

11.46%

-8.77%

Volatility (1Y)

Calculated over the trailing 1-year period

3.43%

14.10%

-10.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.04%

13.82%

-7.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.45%

16.42%

-9.97%

Dividends

XARO.AX vs. INIF.AX - Dividend Comparison

XARO.AX's dividend yield for the trailing twelve months is around 1.09%, less than INIF.AX's 12.02% yield.

PositionTTM20252024202320222021202020192018
INIF.AX
Intelligent Investor Australian Equity Income ETF		12.02%4.02%0.90%7.31%14.68%1.27%1.17%3.88%1.58%
XARO.AX
Ardea Real Outcome Bond Complex ETF		1.09%1.57%2.46%0.77%7.38%4.26%4.20%2.46%0.00%

Frequently Asked Questions

XARO.AX and INIF.AX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XARO.AX is categorized as Total Bond Market, while INIF.AX is Dividend.

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