Is CUIV a good ETF?
CUIV is the ClearBridge Global Infrastructure Value Active ETF. We classify it under Intl, Value, Factor, and Active. With about $736 million in assets it is a solidly established fund.
On a total-return basis, CUIV has delivered 2.06% a year over 10 years (ranked 92nd of 108 ETFs we track), 2.07% a year over 5 years (ranked 146th of 188 ETFs we track), 8.87% a year over 3 years (ranked 134th of 226 ETFs we track), and 5.97% a year over 1 year (ranked 170th of 308 ETFs we track). It has trailed most comparable ETFs over the periods we measure, so look closely at whether its strategy fits what you're after.
The management fee of 0.97% is high, which is common for active, geared or thematic strategies and only worth paying if the approach justifies it. For comparison, similar ETFs average around 0.55%. If cost is your priority, VVLU (0.28%) and VLUE (0.4%) cover similar ground for less. It pays a high 16.53% yield — generous income, but check it isn't a sign of a narrow or higher-risk portfolio. Bear in mind distributions are taxed each year at your marginal rate, so a high yield is less tax-efficient for higher earners and during the accumulation phase.
Over the past 10 years its volatility has been moderate (annualised standard deviation around 12.2%), meaning the kind of swings you'd expect from a diversified equity fund. Its 10-year Sharpe ratio of 0.1 is weak — that's the return it has earned per unit of risk taken (higher is better).
Strengths
- High 16.53% income yield — good for investors who want regular cash flow.
Things to watch
- Has lagged most peers over 10 years (92nd of 108).
- A 0.97% management fee is high and compounds against you over time.
- Pricier than similar ETFs, which average around 0.55%.
- Cheaper alternatives exist: VVLU and VLUE.
- That income is taxed yearly at your marginal rate, so it's less efficient for higher earners.
- Weak risk-adjusted returns (10-year Sharpe ratio 0.1).
What CUIV's categories mean for you
How each category this ETF belongs to tends to behave across market cycles.
Global and international shares from outside Australia — broadening you into thousands of companies and the sectors (tech, healthcare) the local market lacks.
- Market regime
- Essential diversification away from the bank-and-resources-heavy ASX. Unhedged versions carry currency risk; hedged versions remove it at a small cost.
- In a portfolio
- A core holding for almost every long-term Australian portfolio.
Stocks that look cheap relative to their fundamentals (earnings, book value, cash flow). One of the oldest and best-documented return premiums.
- Market regime
- Rewarded over the very long run and especially in rising-rate, reflation and early-recovery regimes — but endured a long, painful stretch of lagging growth through the 2010s.
- In a portfolio
- A long-term tilt that requires patience and a tolerance for extended underperformance versus the growth side of the market.
Tilts toward academically-backed drivers of return — value, quality, momentum, size or low volatility — aiming to beat plain market-cap weighting over a full cycle.
- Market regime
- Any single factor can underperform the broad market for years before rewarding patient holders. Multi-factor funds smooth this out somewhat.
- In a portfolio
- A long-term tilt that demands discipline: the edge only shows up if you hold through the inevitable lean stretches.
Actively managed: a portfolio manager hand-picks holdings trying to beat the index, rather than simply tracking it. You pay more in fees for the chance of outperformance.
- Market regime
- Can add value in volatile, falling or inefficient markets where stock-picking and downside protection matter. In long, broad bull markets most active funds struggle to keep up with the cheap index after fees.
- In a portfolio
- Only worth holding if you have genuine conviction in the strategy — decades of evidence show the majority of active funds underperform their benchmark over 10+ years once fees are counted.
General information only, generated from the 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.