Betashares Global Energy Companies Currency Hedged ETF (FUEL) Review & Analysis

MER · #332 of 514AUM · Top 50%1Y Return · Top 10%3Y Return · Top 50%5Y Return · Top 10%
What's new this monthData to 30 September 2026
  • +0.1% in September (total return), in line with the median international shares ETF at +0.0%.
  • Investors added a net $6.2m (2.4% of the fund).
  • The unit price closed the month at $8.87, 6% below its 12-month high (range $6.35 to $9.40).

About FUEL

FUEL is an international shares ETF from Betashares, listed on the ASX since June 2016. With $268m under management it is number 92 of 254 international shares ETFs by size. The management fee is 0.57% a year, about $57 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Its largest holdings are Shell plc, ExxonMobil Holdings Corp and Chevron Corp, and the top 10 make up 56% of the fund. By sector it leans towards energy (97%) and utilities (3%). United States is the biggest country exposure at 54%.

Over five years it has returned +16.6% a year including distributions, against +8.8% for the median international shares ETF. With its focus on commodities & resources, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

FUEL distributions and dividend dates

FUEL pays distributions yearly, usually going ex-distribution in July, with payment about 15 days after the ex-date. (Pattern estimated from recent payments.)

The latest distribution was $0.2739 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 16 July 2026. To receive it you need to own FUEL before the ex-date.

Its distribution yield over the past 12 months is about 4.0%. Distributions vary and past payments are not a guide to future ones.

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

Compare FUELCheck overlapBetashares website ↗

Compare FUEL with

FUELvsQHSM
VanEck MSCI International Small Companies Quality (AUD Hedged) ETF
Fee0.57%0.62%
1 year+39.1%+4.2%
5 yrs p.a.+16.6%–
Size$268m$262m
Same holdings0%No companies in common
Full comparison →
FUELvsVGAD
Vanguard MSCI Index International Shares (Hedged) ETF
Fee0.57%0.21%
1 year+39.1%+17.1%
5 yrs p.a.+16.6%+10.8%
Size$268m$7.9bn
Same holdings3%Very different
Full comparison →
FUELvsIHVV
iShares S&P 500 (AUD Hedged) ETF
Fee0.57%0.10%
1 year+39.1%+15.4%
5 yrs p.a.+16.6%+10.9%
Size$268m$4.3bn
Same holdings4%Very different
Full comparison →
FUELvsDFGH
Dimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF
Fee0.57%0.36%
1 year+39.1%+18.2%
5 yrs p.a.+16.6%–
Size$268m$4.2bn
Same holdingsNo holdings data
Full comparison →

FUEL price by TradingView

Stock CodeFUEL
Fund ManagerBetashares
Asset ClassInternational shares
AUM$268m
MER (%)0.57%
Net flows (Sep)+$6.2m
Last Price$8.87
52-Week Range$6.35 – $9.40
Bid/Ask Spread0.16%
Listing Date20/06/2016
ExchangeASX
IndexNot yet in our data. See the PDS
Issuer websiteBetashares ↗

Performance (% return)

0%38%77%115%1M0.1%1Y39.1%3Y44.3%5Y115.2%
1 month+0.1%
1 year+39.1%
3 years p.a.+13.0%
5 years p.a.+16.6%

$10,000 invested…

1 year ago$13,9123 years ago$14,4305 years ago$21,520

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.

FUEL at a glance: strengths and things to watch

👍 Strengths

  • Ahead of its peers. +16.6% a year over 5 years, against +8.8% for the median international shares ETF.
  • Long track record. Listed since 2016, through several market cycles.
  • In an uptrend. Its price has been trending up since 13 October (as at 7 November).

⚠️ Things to watch

  • Concentrated. The top 10 holdings make up 56% of the fund, so a few companies drive the result.

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

Joshua StegaetfadviserTrend check
Uptrend since 13 Oct 2026

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

FUEL'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 8.7% below 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 daysHow base and trend works →See every ETF's stage →Visit etfadviser.com.au →
Oct 25Jan 26Apr 26Jul 26Oct 26
UptrendBaseDowntrend

FUEL 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

Exposure Regions

Global

Themes & Sectors

Currency hedgedCommodities & resources

Portfolio Breakdown

Top 10 holdings (55.5% of the fund)

SymbolCompany% assets
SHEL8.64%
XOM8.43%
CVX8.28%
TTE6.70%
COP5.51%
BP4.36%
ENB3.54%
MPC3.50%
CNQ3.33%
VLO3.23%

Sector breakdown

  • Energy96.9%
  • Utilities3.1%

Country breakdown

  • United States54.1%
  • Canada14.4%
  • Netherlands8.7%
  • France6.8%
  • United Kingdom4.4%
  • BR3.1%
  • Germany3.1%
  • IT2.1%
  • Other3.2%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 35 positions, covering 99% of the fund. Compare FUEL's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
QHSMVanEck MSCI International Small Companies Quality (AUD Hedged) ETF Currency hedged
0%
0.62%$262m+4.2%––
VGADVanguard MSCI Index International Shares (Hedged) ETF Currency hedged
3%
0.21%$7.9bn+17.1%+19.8%+10.8%
IHVViShares S&P 500 (AUD Hedged) ETF Currency hedged
4%
0.10%$4.3bn+15.4%+21.0%+10.9%
DFGHDimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF Currency hedged–0.36%$4.2bn+18.2%––
HYGGHyperion Global Growth Companies Fund - Active ETF Active–0.70%$3.4bn−5.9%+20.9%+8.9%
HGBLBetashares Global Shares Currency Hedged ETF Currency hedged
4%
0.11%$3.0bn+17.4%+20.6%–

Same holdings is the share of FUEL's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like FUEL →

FUEL vs its closest alternatives

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

QHSM VanEck MSCI International Small Companies Quality (AUD Hedged) ETF

  • They share 0% of their holdings: mostly different companies.
  • FUEL is cheaper (0.57% vs 0.62%), worth about $3,253 on $100,000 over 20 years.
  • Over 1 year: FUEL +39.1%, QHSM +4.2% (FUEL ahead by 34.9 percentage points).

Compare FUEL and QHSM side by side →

VGAD Vanguard MSCI Index International Shares (Hedged) ETF

  • They share 3% of their holdings: mostly different companies.
  • VGAD is cheaper (0.21% vs 0.57%), worth about $24,298 on $100,000 over 20 years.
  • Over 3 years, a year: FUEL +13.0%, VGAD +19.8% (VGAD ahead by 6.8 percentage points).
  • VGAD is much larger ($7.9bn vs $268m), which usually means tighter trading spreads.

Compare FUEL and VGAD side by side →

IHVV iShares S&P 500 (AUD Hedged) ETF

  • They share 4% of their holdings: mostly different companies.
  • IHVV is cheaper (0.10% vs 0.57%), worth about $32,038 on $100,000 over 20 years.
  • Over 3 years, a year: FUEL +13.0%, IHVV +21.0% (IHVV ahead by 8.0 percentage points).
  • IHVV is much larger ($4.3bn vs $268m), which usually means tighter trading spreads.

Compare FUEL and IHVV side by side →

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

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FUEL FAQs

What is the fee for FUEL?

FUEL charges a management fee (MER) of 0.57% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is FUEL?

FUEL had $268m in funds under management as at 30 September 2026.

How has FUEL performed?

FUEL returned +39.1% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +13.0% a year. Past performance is not a reliable indicator of future performance.

Who manages FUEL?

FUEL is managed by Betashares and has been listed since June 2016.

Is FUEL franked?

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

What does FUEL hold?

FUEL's largest holdings are Shell plc (8.6%), ExxonMobil Holdings Corp (8.4%), Chevron Corp (8.3%), TotalEnergies SE (6.7%), ConocoPhillips (5.5%). It holds about 35 investments in total. The biggest sector is energy at 96%. Holdings as at 30 October 2026.

Is FUEL currency hedged?

Yes. FUEL 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 Betashares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.