20 minute delayed
Join Market Matters and get full access to all our Opinion + Action
Fund size
$83.9M
NOV 2026
Total cost ratio
1.32%
per year
Distributions
Annually
Since inception
11.2 yrs
AUG 2015
The Fund aims to help investors profit from, or protect against, a declining U.S. share market. It seeks to generate magnified returns that are negatively correlated to the returns of the U.S. share market (as measured by the S&P 500 index), hedged to Australian dollars.
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | — |
| Bond | 0.00 | 0.00 | — |
| Cash | 100.00 | 100.00 | — |
| Other | 0.00 | 0.00 | — |
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Cash | 100.00 | — | 128.6M | — | — | — | — |
Fund (NAV) Market price
1M
4.2
3M
-1.5
6M
-10.0
YTD
-13.5
1Y
-11.7
3Y
-34.7
5Y
-23.3
10Y
-31.3
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 4.18 | 3.01 | 4.30 | — |
| 3 months | -1.47 | -3.79 | -1.14 | — |
| 6 months | -10.00 | -14.81 | -9.40 | — |
| Year to date | -13.46 | -13.77 | -12.48 | — |
| 1 year | -11.73 | -12.54 | -10.53 | — |
| 3 years p.a. | -34.71 | -35.61 | -33.81 | — |
| 5 years p.a. | -23.29 | -23.93 | -22.23 | — |
| 10 years p.a. | -31.31 | -31.42 | -30.36 | — |
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
-27.4
2017
-37.7
2018
6.6
2019
-48.6
2020
-48.3
2021
-46.8
2022
42.6
2023
-34.3
2024
-35.2
2025
-36.3
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | -36.34 | -36.91 | — |
| 2024 | -35.17 | -34.85 | — |
| 2023 | -34.29 | -36.22 | — |
| 2022 | 42.63 | 31.30 | — |
| 2021 | -46.81 | -46.86 | — |
| 2020 | -48.27 | -48.55 | — |
| 2019 | -48.63 | -48.07 | — |
| 2018 | 6.64 | 6.00 | — |
| 2017 | -37.72 | -36.75 | — |
| 2016 | -27.39 | -28.71 | — |
FY17
-33.9
FY18
-28.3
FY19
-24.4
FY20
-30.7
FY21
-59.1
FY22
18.1
FY23
-32.6
FY24
-33.6
FY25
-32.5
FY26
-33.2
| Financial year | Total % |
|---|---|
| Financial year to date | -0.48 |
| Year to 30 JUN 2026 | -33.16 |
| Year to 30 JUN 2025 | -32.52 |
| Year to 30 JUN 2024 | -33.63 |
| Year to 30 JUN 2023 | -32.61 |
| Year to 30 JUN 2022 | 18.10 |
| Year to 30 JUN 2021 | -59.12 |
| Year to 30 JUN 2020 | -30.69 |
| Year to 30 JUN 2019 | -24.36 |
| Year to 30 JUN 2018 | -28.35 |
| Year to 30 JUN 2017 | -33.89 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -57.81 | -54.08 | -42.17 | -49.66 |
| Beta | -170.99 | -81.83 | -94.68 | -107.53 |
| R-squared | 1.57 | 1.36 | 3.69 | 3.00 |
| Standard deviation | 24.15 | 24.09 | 29.99 | 29.25 |
| Sharpe ratio | -0.73 | -1.69 | -0.69 | -1.00 |
| Sortino ratio | -0.82 | -1.43 | -0.90 | -1.13 |
| Tracking error | 29.42 | 27.90 | 35.49 | 34.59 |
| Information ratio | -0.80 | -1.52 | -0.71 | -0.94 |
| Upside capture % | -493.62 | -1,123.26 | -864.36 | -1,366.27 |
| Downside capture % | — | — | -70,377.93 | 99,405.72 |
| Maximum drawdown % | -30.07 | -75.15 | -81.22 | -97.24 |
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
153.0
Morningstar Portfolio Risk Score at 30 SEP 2026.
2021
11.3
| Year | Per unit ($) |
|---|---|
| 2021 | 11.2544 |
| Ex Date | Per unit ($) |
|---|---|
| 1 JUL 2022 | 11.2544 |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
The BBUS ETF aims to inversely track the S&P 500 with a 2.2x leverage, while being currency hedged. Similar to the SNAS, this is a bearish-facing US ETF, which has slightly higher fees of 1.38%.
At some stage in 2022 we anticipate taking a bearish equities position via the ASX traded BBUS ETF – the locally traded fund has an inverse correlation to the S&P 500, is easily accessible on the ASX and importantly US Futures regularly trade at their extremes in their late market i.e. when the ASX is open and trading. There are a couple of points to understand with this ETF:
A slightly different trade here increasing our US S&P500 (BBUS US) bearish position from 5% to 10% while also buying a 5% position in the Australian listed Asia Tech ETF (ASIA).
MM is making some changes in the Global Macro ETF Portfolio. Selling BNKS, and buying DBA US, VXX US & BBUS.
MM has been watching the BBUS slowly edge lower as equities continue to trade to fresh all-time highs, however we feel the time has arrived to establish a bearish position.
MM has been watching the BBUS slowly edge lower as equities continue to trade to fresh all-time highs, however we feel the time is nigh to establish a bearish position.
MM has been watching the BBUS slowly slip lower as equities continue to trade to fresh all-time highs, however we feel the time is nigh to establish a bearish position.
Equities corrected over the last 2-weeks sending the VIX higher as we mentioned earlier, the BBUS bearish ETF rallied 13% for anyone nimble enough to get in & out. That’s aggressive trading and not our intention but if we see a correction twice as big a position in the BBUS does make sense, especially if we like our portfolio mix and aren’t keen to liquidate many holdings.
MM is cautiously bullish towards the BBUS ETF in the short term
MM is neutral/bearish the BEAR around $7.50
MM is neutral/bearish on the BBUS around $3.88
MM currently likes the BBUS back in the $8-9 region
MM are adding to BBUS (+5%) & buying the ASIA ETF (+5%) as part of a pairs trade in the Macro ETF Portfolio
MM is buying BBUS in the Global Macro ETF Portfolio with a 5% weighting around $1.16
MM is looking to establish a short equities position using the BBUS ETF
MM is looking to establish a short equities position using the BBUS ETF
MM is looking to establish a short equities position using the BBUS
MM is contemplating establishing a position in the BBUS into weakness around $US1.25
BetaShares U.S. Equities Strong Bear Hedge Fund - Currency Hedged is an exchange-traded fund incorporated in Australia. The Fund objective seeks to generate returns that are negatively correlated to the returns of the U.S. share market (as measured by the S&P 500 index), hedged to Australian dollars.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
JOIN NOW
Something went wrong. Please try again in a moment.
