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Fund size
$20.8M
NOV 2026
Total cost ratio
1.48%
per year
Distributions
Annually
Since inception
14.4 yrs
JUL 2012
The fund does not have specific diversification guidelines or limits. However, the fund seeks to generate returns that are negatively correlated to the returns of the Australian share market and, to that extent, the fund will effectively have diversified short exposure.
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | — |
| Bond | 4.69 | 4.69 | — |
| Cash | 95.31 | 95.31 | — |
| Other | 0.00 | 0.00 | — |
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Betashares Australian Cash Plus Actv ETF MMKT | 25.37 | — | 8.0M | AUD | 160,000 | — | Australia | |
| BetaShares Aus High Interest Cash ETF AAA | 22.86 | — | 7.2M | AUD | 144,073 | — | Australia | |
| Cash | 51.77 | — | 16.4M | — | — | — | — |
Fund (NAV) Market price
1M
0.2
3M
1.8
6M
-3.4
YTD
4.8
1Y
9.4
3Y
-3.3
5Y
-5.0
10Y
-8.3
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 0.24 | 0.71 | 0.36 | — |
| 3 months | 1.85 | 2.24 | 2.22 | — |
| 6 months | -3.40 | -3.20 | -2.68 | — |
| Year to date | 4.83 | 5.21 | 6.12 | — |
| 1 year | 9.36 | 10.14 | 10.98 | — |
| 3 years p.a. | -3.30 | -3.29 | -1.87 | — |
| 5 years p.a. | -5.04 | -4.96 | -3.65 | — |
| 10 years p.a. | -8.33 | -8.31 | -7.00 | — |
Returns to 31 OCT 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Total Capital
2016
-9.4
2017
-10.1
2018
5.9
2019
-19.6
2020
-11.2
2021
-16.2
2022
-2.2
2023
-3.8
2024
-3.8
2025
-4.1
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | -4.09 | -4.95 | — |
| 2024 | -3.83 | -3.35 | — |
| 2023 | -3.81 | -6.62 | — |
| 2022 | -2.22 | -2.10 | — |
| 2021 | -16.17 | -16.26 | — |
| 2020 | -11.18 | -11.66 | — |
| 2019 | -19.61 | -18.72 | — |
| 2018 | 5.89 | 5.24 | — |
| 2017 | -10.07 | -8.69 | — |
| 2016 | -9.41 | -12.02 | — |
| 2015 | -0.92 | -2.38 | — |
FY17
-12.1
FY18
-10.3
FY19
-9.6
FY20
-1.1
FY21
-23.1
FY22
3.8
FY23
-10.7
FY24
-5.4
FY25
-7.0
FY26
-1.3
| Financial year | Total % |
|---|---|
| Financial year to date | 0.07 |
| Year to 30 JUN 2026 | -1.29 |
| Year to 30 JUN 2025 | -6.97 |
| Year to 30 JUN 2024 | -5.39 |
| Year to 30 JUN 2023 | -10.66 |
| Year to 30 JUN 2022 | 3.84 |
| Year to 30 JUN 2021 | -23.13 |
| Year to 30 JUN 2020 | -1.14 |
| Year to 30 JUN 2019 | -9.55 |
| Year to 30 JUN 2018 | -10.28 |
| Year to 30 JUN 2017 | -12.12 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -49.22 | -11.97 | -12.20 | -13.40 |
| Beta | -219.25 | -12.01 | -26.30 | -25.20 |
| R-squared | 18.50 | 0.20 | 2.19 | 1.15 |
| Standard deviation | 8.38 | 9.86 | 10.31 | 12.29 |
| Sharpe ratio | -0.24 | -1.02 | -0.57 | -0.76 |
| Sortino ratio | -0.40 | -1.19 | -0.72 | -0.97 |
| Tracking error | 10.99 | 10.70 | 12.81 | 13.08 |
| Information ratio | -0.22 | -1.04 | -0.55 | -0.74 |
| Upside capture % | 44.21 | -170.05 | -85.39 | -217.76 |
| Downside capture % | — | — | 22,964.50 | 45,846.76 |
| Maximum drawdown % | -5.44 | -19.71 | -21.83 | -50.59 |
Measured against Morningstar AUD 1M Cash GR AUD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 31 OCT 2026. Maximum drawdown is on gross returns at the latest quarter end.
Risk score
95.0
Morningstar Portfolio Risk Score at 31 MAY 2026.
2021
0.1
2015
0.2
| Year | Per unit ($) |
|---|---|
| 2021 | 0.1316 |
| 2015 | 0.1686 |
| Ex Date | Per unit ($) |
|---|---|
| 1 JUL 2022 | 0.1316 |
| 1 JUL 2016 | 0.1686 |
3.73% of assets are in companies with high or severe controversies.
Carbon risk score
7.91
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
The BEAR ETF has retreated in 2025, although recent weakness in local stocks has improved its performance. The objective of this ETF is to allow investors to profit from a fall in the ASX200, often regarded as a hedge for existing portfolios. However, it’s important to understand that bearish ETFs are primarily designed for short-term tactical trades, not long-term protection.
The BEAR ETF, traded on the ASX, is negatively correlated with the ASX 200, with no leverage. Fees are relatively high at 1.38%, but it's an easy way to “play” the market from the short side. For example, when the ASX200 corrected by almost 17% earlier this year, the BEAR ETF spiked over 18%.
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