Aoris Int Fund (Class B) (Unhedged) Active ETF (BAOR) Review & Analysis

MER · #473 of 514AUM · #267 of 5081Y Return · #374 of 4263Y Return · #165 of 300

What's new this monthData to 30 September 2026

−3.0% in September (total return), behind the median international shares ETF at +0.0%.
Investors withdrew a net $3.7m (-2.9% of the fund).
The unit price closed the month at $2.25, 14% below its 12-month high (range $2.01 to $2.62).

About BAOR

BAOR is an international shares ETF from Aoris, listed on the ASX since May 2023. With $122m under management it is number 134 of 254 international shares ETFs by size. The management fee is 1.10% a year, about $110 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Over the past year it returned −6.6%, against +10.4% for the median international shares ETF.

BAOR distributions and dividend dates

The latest distribution was $0.2063 per unit (0% franked), ex-distribution on 1 July 2025 and paid on 25 July 2025. To receive it you need to own BAOR before the ex-date.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare BAOR Check overlap Aoris website ↗

Compare BAOR with

BAORvsDAOR

Aoris Int Fund (Class D) (Hedged) Active ETF

Fee	1.10%	1.15%
1 year	−6.6%	+1.2%
5 yrs p.a.	–	–
Size	$122m	$130m

Same holdingsNo holdings data

Full comparison →

BAORvsDFGH

Dimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF

Fee	1.10%	0.36%
1 year	−6.6%	+18.2%
5 yrs p.a.	–	–
Size	$122m	$4.2bn

Same holdingsNo holdings data

Full comparison →

BAORvsL1IF

L1 Capital International (Unhedged) Active ETF

Fee	1.10%	1.20%
1 year	−6.6%	−5.7%
5 yrs p.a.	–	–
Size	$122m	$489m

Same holdingsNo holdings data

Full comparison →

BAORvsB1SM

Bell Global Emerging Companies Fund (Class A) Active ETF

Fee	1.10%	1.34%
1 year	−6.6%	–
5 yrs p.a.	–	–
Size	$122m	$133m

Same holdingsNo holdings data

Full comparison →

BAOR price by TradingView

Stock Code	BAOR
Fund Manager	Aoris
Asset Class	International shares
AUM	$122m
MER (%)	1.10%
Net flows (Sep)	−$3.7m
Last Price	$2.25
52-Week Range	$2.01 – $2.62
Bid/Ask Spread	0.49%
Listing Date	01/05/2023
Exchange	ASX
Index	None: actively managed. See the PDS for its benchmark
Issuer website	Aoris ↗

Performance (% return)

1 month−3.0%

1 year−6.6%

3 years p.a.+10.0%

5 years p.a.–

$10,000 invested…

1 year ago$9,3363 years ago$13,301

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

BAOR at a glance: strengths and things to watch

👍 Strengths

In an uptrend. Its price has been trending up since 12 October (as at 7 November).

⚠️ Things to watch

Higher fee. At 1.10% a year it costs more than 86% of international shares ETFs (median 0.55%), or about $55 a year more on every $10,000.
Behind its peers. +10.0% a year over 3 years, against +15.4% for the median international shares ETF.
Money is flowing out. Investors withdrew a net $3.7m in September (3% of the fund).
Wider trading spread. 0.49% between the buy and sell price. Use a limit order.

Worked out from BAOR's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Uptrend since 12 Oct 2026

BAOR is in an uptrend. Here's why that matters.

BAOR's price is above its 20-day average and its 10, 20, 50 and 200-day averages are stacked upward. The trend is on investors' side. Its price is at or near its 12-month high.

Why it matters: Uptrends are when satellite ETFs tend to do their best work. The key is knowing when the trend breaks, so gains aren't handed back.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

UptrendBaseDowntrend

BAOR weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Themes & Sectors

Active ETFs

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
DAOR	Aoris Int Fund (Class D) (Hedged) Active ETF Currency hedged	–	1.15%	$130m	+1.2%	+11.7%	–
DFGH	Dimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF Currency hedged	–	0.36%	$4.2bn	+18.2%	–	–
L1IF	L1 Capital International (Unhedged) Active ETF Currency hedged	–	1.20%	$489m	−5.7%	–	–
B1SM	Bell Global Emerging Companies Fund (Class A) Active ETF Active	–	1.34%	$133m	–	–	–
ADEF	Apostle Dundas Global Equity Fund - Class D Active ETF Active	–	0.90%	$8.4m	−0.4%	+9.6%	+5.3%
VGS	Vanguard MSCI Index International Shares ETF	–	0.18%	$18.7bn	+10.1%	+17.9%	+11.8%

Same holdings is the share of BAOR's money in companies the other ETF also holds, weighted by size. No other ETF shares much with BAOR, so these are ETFs in the same category. See every ETF like BAOR →

BAOR vs its closest alternatives

What actually differs between BAOR and the ETFs most like it. Data to 30 Sep 2026.

DAOR Aoris Int Fund (Class D) (Hedged) Active ETF

BAOR is cheaper (1.10% vs 1.15%), worth about $2,959 on $100,000 over 20 years.
Over 3 years, a year: BAOR +10.0%, DAOR +11.7% (DAOR ahead by 1.7 percentage points).

Compare BAOR and DAOR side by side →

DFGH Dimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF

DFGH is cheaper (0.36% vs 1.10%), worth about $47,029 on $100,000 over 20 years.
Over 1 year: BAOR −6.6%, DFGH +18.2% (DFGH ahead by 24.9 percentage points).
DFGH is much larger ($4.2bn vs $122m), which usually means tighter trading spreads.

Compare BAOR and DFGH side by side →

L1IF L1 Capital International (Unhedged) Active ETF

BAOR is cheaper (1.10% vs 1.20%), worth about $5,891 on $100,000 over 20 years.
Over 1 year: BAOR −6.6%, L1IF −5.7% (L1IF ahead by 1.0 percentage points).
L1IF is about 4 times larger ($489m vs $122m), which usually means tighter trading spreads.

Compare BAOR and L1IF side by side →

General information only. Past performance is not a reliable indicator of future performance.

BAOR FAQs

What is the fee for BAOR?

BAOR charges a management fee (MER) of 1.10% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is BAOR?

BAOR had $122m in funds under management as at 30 September 2026.

How has BAOR performed?

BAOR returned −6.6% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +10.0% a year. Past performance is not a reliable indicator of future performance.

Who manages BAOR?

BAOR is managed by Aoris and has been listed since May 2023.

Is BAOR franked?

Generally no. BAOR invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

Is BAOR currency hedged?

Yes. BAOR is currency hedged, so changes in the Australian dollar have little effect on its returns. You get the return of the underlying investments in their local currency, less a small cost of hedging.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Aoris product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.