ZYAU.AX vs. BANK.AX

Last updated Jul 16, 2026

ZYAU.AX (Global X S&P/ASX 200 High Dividend ETF) and BANK.AX (Global X Australian Bank Credit ETF) are both exchange-traded funds - ZYAU.AX is a Dividend fund tracking the Global X S&P/ASX 200 High Dividend Index, while BANK.AX is a Corporate Bonds fund tracking the Solactive Australian Bank Credit Index. Both are passively managed. Over the past year, ZYAU.AX returned 16.88% vs 4.33% for BANK.AX. At a 0.14 correlation, their price movements are largely independent.

Performance

ZYAU.AX vs. BANK.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Global X S&P/ASX 200 High Dividend ETF (ZYAU.AX) and Global X Australian Bank Credit ETF (BANK.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZYAU.AX achieves a 7.50% return, which is significantly higher than BANK.AX's 2.36% return.

ZYAU.AX

• 1D: -0.20%
• 1M: -1.11%
• 6M: 7.39%
• YTD: 7.50%
• 1Y: 16.88%
• 3Y*: 14.70%
• 5Y*: 7.88%
• 10Y*: 8.55%

BANK.AX

• 1D: 0.10%
• 1M: 0.71%
• 6M: 2.05%
• YTD: 2.36%
• 1Y: 4.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZYAU.AX vs. BANK.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZYAU.AX Global X S&P/ASX 200 High Dividend ETF	7.50%	16.65%	3.51%
BANK.AX Global X Australian Bank Credit ETF	2.36%	4.39%	2.23%

Correlation

The correlation between ZYAU.AX and BANK.AX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 22, 2024	0.14

Return for Risk

ZYAU.AX vs. BANK.AX — Risk / Return Rank

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

ZYAU.AX

ZYAU.AX Risk / Return Rank: 57
ZYAU.AX Sharpe Ratio Rank: 54
ZYAU.AX Sortino Ratio Rank: 54
ZYAU.AX Omega Ratio Rank: 50
ZYAU.AX Calmar Ratio Rank: 77
ZYAU.AX Martin Ratio Rank: 52

BANK.AX

BANK.AX Risk / Return Rank: 84
BANK.AX Sharpe Ratio Rank: 80
BANK.AX Sortino Ratio Rank: 86
BANK.AX Omega Ratio Rank: 87
BANK.AX Calmar Ratio Rank: 86
BANK.AX Martin Ratio Rank: 80

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.

ZYAU.AX vs. BANK.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P/ASX 200 High Dividend ETF (ZYAU.AX) and Global X Australian Bank Credit ETF (BANK.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.

	ZYAU.AX	BANK.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.05	-0.55
Sortino ratio: Return per unit of downside risk	2.14	3.16	-1.03
Omega ratio: Gain probability vs. loss probability	1.26	1.43	-0.16
Calmar ratio: Return relative to maximum drawdown	3.19	3.83	-0.64
Martin ratio: Return relative to average drawdown	7.10	12.35	-5.25

ZYAU.AX vs. BANK.AX - Sharpe Ratio Comparison

The current ZYAU.AX Sharpe Ratio is 1.50, which is comparable to the BANK.AX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ZYAU.AX and BANK.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

ZYAU.AX vs. BANK.AX - Drawdown Comparison

The maximum ZYAU.AX drawdown since its inception was -41.40%, which is greater than BANK.AX's maximum drawdown of -1.60%. Use the drawdown chart below to compare losses from any high point for ZYAU.AX and BANK.AX.

Drawdown Indicators

	ZYAU.AX	BANK.AX	Difference
Max Drawdown Largest peak-to-trough decline	-41.40%	-1.60%	-39.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.27%	-1.10%	-4.17%
Max Drawdown (3Y) Largest decline over 3 years	-11.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.40%	—	—
Current Drawdown Current decline from peak	-2.51%	-0.20%	-2.31%
Average Drawdown Average peak-to-trough decline	-5.83%	-0.19%	-5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	0.35%	+2.06%

Volatility

ZYAU.AX vs. BANK.AX - Volatility Comparison

Global X S&P/ASX 200 High Dividend ETF (ZYAU.AX) has a higher volatility of 1.94% compared to Global X Australian Bank Credit ETF (BANK.AX) at 0.48%. This indicates that ZYAU.AX's price experiences larger fluctuations and is considered to be riskier than BANK.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZYAU.AX	BANK.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	0.48%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	1.48%	+7.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	2.06%	+9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	2.45%	+11.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.32%	2.45%	+12.87%

Dividends

ZYAU.AX vs. BANK.AX - Dividend Comparison

ZYAU.AX's dividend yield for the trailing twelve months is around 4.28%, less than BANK.AX's 5.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BANK.AX Global X Australian Bank Credit ETF	5.10%	5.31%	1.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZYAU.AX Global X S&P/ASX 200 High Dividend ETF	4.28%	4.22%	7.82%	11.01%	9.36%	6.73%	4.68%	6.38%	9.89%	15.54%	5.13%	2.66%

Frequently Asked Questions

Can I hold both ZYAU.AX and BANK.AX in my portfolio?

ZYAU.AX and BANK.AX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZYAU.AX and BANK.AX?

ZYAU.AX is categorized as Dividend, while BANK.AX is Corporate Bonds. ZYAU.AX tracks Global X S&P/ASX 200 High Dividend Index, while BANK.AX tracks Solactive Australian Bank Credit Index.