VAF vs IAF vs OZBD vs VGB - Compare ETFs side by side

At a glance

Comparing VAF, IAF, OZBD, and VGB. VAF has the lowest management fee at 0.1% a year, VAF has the highest 10 years return at 1.5% a year, and OZBD offers the highest at 4.23%.

Lowest fee

VAF 0.1% p.a.

Highest 10 years return

VAF 1.5% p.a.

Highest yield

OZBD 4.23%

Lowest volatility

VAF 4.5% (10y)

Largest fund

VAF $3.8bn

Side-by-side comparison

Metric	VAF Vanguard Australian Fixed Interest Index ETF	IAF iShares Core Composite Bond ETF	OZBD BetaShares Australian Composite Bond ETF	VGB Vanguard Australian Government Bond Index ETF
Snapshot
Provider	Vanguard	iShares	BetaShares	Vanguard
Tracks index	Bloomberg AusBond Composite 0+ Yr Index	Bloomberg AusBond Composite 0+ Yr Index	Solactive Australian Composite Bond Select Index	Bloomberg AusBond Govt 0+ Yr Index
Categories	AU, Bonds	AU, Bonds	AU, Bonds	AU, Bonds
Listed since	2012 (14 yrs)	2012 (14 yrs)	2022 (4 yrs)	2012 (14 yrs)
Fund size (AUM)	$3.8bn	$3.8bn	$1.4bn	$1.4bn
Cost & income
Management fee	0.1%	0.1%	0.19%	0.16%
Dividend yield	3.24%	3.15%	4.23%	3.27%
Franking	0%	0%	0%	0%
Turnover	30%	35%	25%	25%
Tax drag	1.76%	1.85%	1.95%	1.65%
Returns	Tax bracket - adjusts tax drag & net returns
1-year return	1% net	1% net	1.1% net	0.7% net
3-year return	3.6% net	3.6% net	4.3% net	3.2% net
5-year return	-0.2% net	-0.2% net	—	-0.6% net
10-year return	1.5% net	1.5% net	—	1.3% net
Risk
Volatility (3y)	4%	4%	4.8%	4.3%
Volatility (5y)	5.4%	5.4%	—	5.8%
Volatility (10y)	4.5%	4.5%	—	4.8%
Sharpe ratio (3y)	—	—	0.14	—
Sharpe ratio (5y)	—	—	—	—
Sharpe ratio (10y)	—	—	—	—
Bid/ask spread	—	—	—	—

marks the strongest fund in each row. “net” shows the after-tax return at your selected bracket. “—” means we don’t have that data point yet.

Each fund at a glance

VAF Vanguard Australian Fixed Interest Index ETF

Low-cost: a 0.1% management fee keeps more of the return in your pocket.
Low volatility (4.45% over 10 years) for a smoother ride.

Has lagged most peers over 10 years (97th of 108).

Full VAF analysis →

IAF iShares Core Composite Bond ETF

Low-cost: a 0.1% management fee keeps more of the return in your pocket.
Low volatility (4.45% over 10 years) for a smoother ride.

Has lagged most peers over 10 years (97th of 108).

Full IAF analysis →

OZBD BetaShares Australian Composite Bond ETF

Low-cost: a 0.19% management fee keeps more of the return in your pocket.
Pays a useful 4.23% income yield.

Has lagged most peers over 3 years (185th of 226).

Full OZBD analysis →

VGB Vanguard Australian Government Bond Index ETF

Low-cost: a 0.16% management fee keeps more of the return in your pocket.
Low volatility (4.84% over 10 years) for a smoother ride.

Has lagged most peers over 10 years (102nd of 108).

Full VGB analysis →

Frequently Asked Questions

What's the difference between VAF vs IAF vs OZBD vs VGB?

VAF, IAF, OZBD, and VGB are 4 Australian-listed ETFs we compare side by side. VAF carries the lowest management fee (0.1%). Over 10 years, VAF has delivered the highest total return (1.5% a year). The table above breaks down fees, returns, income and risk for each.

Which has the lowest fees - VAF vs IAF vs OZBD vs VGB?

VAF has the lowest management fee at 0.1% a year, versus IAF 0.1%, OZBD 0.19%, and VGB 0.16%.

Which has performed highest - VAF vs IAF vs OZBD vs VGB?

Over the past 10 years, VAF has delivered the highest total return at 1.5% a year. Past performance is not a reliable indicator of future returns.

Which pays the highest dividend yield?

OZBD pays the highest at 4.23%. Remember distributions are taxed each year at your marginal rate.

Which is the largest and most liquid?

VAF is the largest fund by assets ($3.8bn). Larger funds are typically more liquid and trade on tighter spreads.

Related comparisons

VAF vs BNDS VAF vs VIF VAF vs ILB VAF vs FRAR IAF vs BNDS IAF vs VCF IAF vs VIF IAF vs ILB

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General information only, generated from each fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.