What $10,000 Invested 5 Years Ago Is Worth Today — Every ASX ETF Ranked

We ran the numbers on all 214 ASX ETFs with a 5-year track record. The best turned $10,000 into nearly $40,000. The worst turned it into $1,348. And the most popular funds — the ones most Australians actually hold — landed somewhere in between.

All figures are 5-year cumulative total returns (including distributions reinvested) to 28 February 2026, sourced from CBOE Australia.

The Headlines

The median ETF turned $10,000 into $14,837 — a 48% return over 5 years, or roughly 8.2% per year. That's a solid outcome that beat inflation, term deposits, and savings accounts by a wide margin.

But the spread is enormous. The gap between the best and worst is $38,548 — on the same starting amount over the same period.

The Top 20: Where $10,000 Grew the Most

The story of the past 5 years: gold and commodities. Seven of the top 10 are gold or precious metals products. GDX (gold miners) nearly quadrupled your money. Physical gold (GOLD, PMGOLD) more than tripled it. This was driven by central bank buying, geopolitical uncertainty, and inflation fears.

The S&P 500 funds (IVV, SPY, NDQ) also doubled your money, but they sit at 14th-17th — behind gold, Japan, global banks, and energy. The past 5 years have not been a US-tech-only story, even though it feels that way.

The surprise: IKO (South Korea) at position 19 is a $143 million fund that barely anyone talks about, yet it more than doubled your money — largely driven by Samsung and the Korean semiconductor boom.

What the Most Popular ETFs Actually Delivered

Forget the outliers. Here's what happened to $10,000 in the ETFs most Australians actually own:

Key insights:

• International beat domestic. VGS ($19,254) outperformed VAS ($15,697) by $3,557 — a 23-percentage-point gap. IVV ($20,701) beat them both.

• VAS, A200, and IOZ delivered almost identical results. $15,697 vs $15,958 vs $15,795. The difference is less than $300 on $10,000. Holding more than one of these three was pointless.

• VHY beat VAS. The high-yield fund ($17,271) outperformed the broad market ($15,697) by $1,574 — the dividend tilt added value over this period.

• Bonds barely broke even. VGB returned 0.4% over 5 years. Your $10,000 became $10,040. A savings account would have done better.

• Cash was underwhelming but stable. AAA turned $10,000 into $11,469. No drama, but inflation ate most of the return.

• Gold was the runaway winner among popular funds at $31,654 — but most portfolios hold 0-5% in gold, so the dollar impact was limited.

The Bottom 20: Where $10,000 Went to Die

Three categories dominate the losers:

1. Inverse/bear funds (SNAS, BBUS, BBOZ, BEAR) — designed to go up when markets go down. Over 5 years of rising markets, they've been catastrophic. SNAS destroyed 86.5% of your capital. These are short-term trading tools, not investments.

2. Government bonds (GGOV, AGVT, RGB, GOVT, VBND, VIF, VEFI) — the 2022 bond crash wiped out years of interest income. US Treasury bonds (GGOV) lost 29.6%. Even Australian government bonds lost 1-4%.

3. China (IZZ, CETF) — China's regulatory crackdowns, property crisis, and geopolitical tensions made Chinese equities one of the worst asset classes of the period.

The Distribution: Where Did $10,000 Typically End Up?

The most common outcome was $10,000-$12,000 (79 ETFs). The second most common was $12,000-$14,000 (40 ETFs). Only 22 ETFs doubled your money. And 23 actually lost money.

The Ranking: Every ETF With 5-Year Data

Here's every one of the 214 ETFs (with 5 year data) ranked from best to worst, grouped by outcome:

Doubled Your Money ($20,000+) — 22 ETFs

Strong Growth ($15,000-$20,000) — 83 ETFs

The mainstream tier. This is where the funds most Australians actually hold landed — VGS, VAS, A200, IOZ, VHY, VDHG, and the major sector and thematic ETFs. Here are the top 20 from this tier:

Plus 66 more in this tier. See every fund on ReviewETF.

Moderate Growth ($12,000-$15,000) — 56 ETFs

The balanced and conservative tier. Diversified multi-asset funds, emerging markets, actively managed funds, and many income-focused products. Notable names:

Plus 44 more. See every fund on ReviewETF.

Modest Growth ($10,000-$12,000) — 30 ETFs

The cautious tier. Dominated by cash, corporate bonds, and conservative fixed income. Your money grew — but barely:

Plus 23 more. The fact that VDCO ($11,753) only marginally beat a cash ETF ($11,469) is the strongest argument against conservative portfolio allocations over this period.

Lost Money (under $10,000) — 23 ETFs

Plus 14 more bond and government debt ETFs that lost 1-5%. Three categories dominate the losers: inverse/bear funds (designed to go up when markets fall — catastrophic over 5 years of rising markets), government bonds (the 2022 bond crash wiped out years of interest income), and China (regulatory crackdowns, property crisis, geopolitical tensions).

Key Takeaways

1. $10,000 in VAS became $15,697. In VGS, $19,254. In IVV, $20,701. International shares comprehensively outperformed Australian shares over this period. The lesson: diversify beyond Australia.

2. Gold was the best asset class and almost nobody held enough of it. GOLD returned 217%. Even a 5% allocation would have meaningfully lifted portfolio returns.

3. VAS, A200, and IOZ all delivered within $300 of each other. Don't overthink the "which Australian ETF" question. Pick one, move on.

4. Bonds were the worst mainstream asset class. Government bonds lost money over 5 years. The 2022 bond crash still hasn't been fully recovered. This has major implications for retirement portfolios that rely heavily on bonds.

5. Inverse and bear funds destroy wealth over time. SNAS turned $10,000 into $1,348. These are short-term hedging tools, not investments. If you held BBOZ for 5 years, you lost 65% of your money while markets went up.

6. 89% of ETFs made money. Despite wars, pandemics, rate hikes, and market crashes, the vast majority of ETFs delivered positive returns over 5 years. Time in the market beats timing the market.

Research every ETF in this ranking on ReviewETF — check performance, fees, holdings, and sector breakdowns.

Sources: CBOE Australia Monthly Funds Report (February 2026), ReviewETF.com.au. All returns are cumulative 5-year total returns including distributions reinvested, to 28 February 2026.

This article is general information only and does not constitute financial advice. Past performance is not indicative of future performance. Consider your own circumstances and seek professional advice before making investment decisions.