Diversified High Growth ETF (DVHG) — Review & Analysis

DVHG is Betashares' newly launched 90/10 high-growth diversified ETF, listed on the ASX on 4 August 2026 at a 0.19% management fee. It's the highest-equity option in Betashares' new diversified family — sitting alongside DVGR (75/25 growth), DVBA (balanced), and DHHF (100% growth). DVHG is the direct competitor to Vanguard's VDHG — the incumbent 90/10 all-in-one at $4.0 billion AUM — but undercuts it by 8 basis points (0.19% vs 0.27%). Over 20 years, that fee gap compounds to roughly $6,000 on a $200,000 portfolio. DVHG launched with ~$1.4m AUM and is brand new, so no performance history yet.

To compare DVHG side-by-side with every other ETF on the ASX, see the full ETF directory.

The 90/10 split breaks down as 34.5% Australian equities, 55.5% international equities (a mix of hedged and unhedged developed markets, emerging markets, and hedged global infrastructure), 6% Australian fixed income, and 4% hedged international fixed income. On a country basis you end up with 41% Australia, 39% US and single-digit weights to Japan, Canada, UK, Taiwan, China, Korea and Germany — meaningful home bias for a fund that's calling itself "diversified." The equity sleeve holds around 2,500 stocks and the bond sleeve around 12,000 bonds, delivered through underlying Betashares ETFs. The portfolio rebalances back to strategic weights whenever any asset class drifts more than 2% from target.

DVHG pays distributions quarterly with an automatic DRP for Australian and New Zealand investors unless they opt out. Because the fund is designed for a high to very-high risk appetite, expect meaningful drawdowns during equity sell-offs — the 10% bond sleeve is a token ballast, not a serious volatility dampener. Both bond components are AUD-hedged, so the defensive component behaves like Australian rates rather than a currency bet. There's no franking-credit history yet since the fund is only weeks old, but the 34.5% Australian equity sleeve will generate franked income over time.

DVHG is the cheapest way to own a 90/10 all-in-one portfolio on the ASX. If VDHG is the fund you've been buying for years, DVHG is the same trade at a lower price — same 90/10 mix, same broad diversification, same all-in-one convenience, 8bps less in fees. Caveats: brand new with no track record, Australian equity exposure comes through Betashares' own underlying ETFs rather than a name-brand index, and there's still a modest 10% AUD-hedged bond sleeve that won't help much in an equity crash. For a slightly more conservative 75/25 alternative, see DVGR. For a pure all-growth version at the same fee, see DHHF. For a geared version that leverages up an all-growth mix, see GHHF. For our take on how the category has evolved, read VDHG vs DHHF vs GHHF — which all-in-one ETF should you buy.