Performance data is updated to 31 May 2026.
Betashares Global Energy Companies Currency Hedged ETF (FUEL) — Review & Analysis
FUEL tracks the Nasdaq Global ex-Australia Energy Hedged Index — global oil, gas and energy services majors with AUD currency hedging applied. Largest holdings include Exxon Mobil, Chevron, Shell, TotalEnergies, ConocoPhillips and BP. AUM is $288.78 million with a 0.57% p.a. fee. Compare FUEL against the broader resources cohort on our commodities and resources ETF page.
FUEL gives equity-based exposure to oil and gas rather than the futures-based approach of OOO. Equity exposure has a key structural advantage — no roll yield drag, plus dividends from cash-generative majors.
The trade-off is that FUEL captures less of pure oil-price moves and more of broader market beta. When oil rallies hard, FUEL underperforms spot oil; when energy equities lead the market, FUEL outperforms because of the equity premium.
For ASX investors already holding broad indices like VAS, energy exposure already exists through Woodside and Santos — FUEL adds the global majors (Exxon, Chevron, Shell) that aren't available locally. Our commodity and resource ETFs guide covers how energy exposure fits the broader resources landscape.
Performance (% return)
Investment Focus
Themes
Exposure Regions
Portfolio Breakdown
| Company Name | % assets |
|---|---|
| SHELL PLC | 7.80% |
| CHEVRON CORP | 7.50% |
| EXXON MOBIL CORP | 7.40% |
| TOTALENERGIES SE | 6.90% |
| SIEMENS ENERGY AG | 5.20% |
| BP PLC | 4.20% |
| ENBRIDGE INC | 4.00% |
| CONOCOPHILLIPS | 3.90% |
| CANADIAN NATURAL RESOURCES LTD | 3.40% |
| SUNCOR ENERGY INC | 3.20% |
| Sector | % assets |
|---|---|
| Integrated Oil & Gas | 47.9% |
| Oil & Gas Storage & Transportation | 20.6% |
| Oil & Gas Exploration & Production | 12.8% |
| Oil & Gas Refining & Marketing | 6.9% |
| Oil & Gas Equipment & Services | 4.5% |
| Heavy Electrical Equipment | 4.2% |
| Coal & Consumable Fuels | 3.1% |
Similar ETFs
Disclaimer
The information provided on ReviewETF.com.au is intended for general information and comparison purposes only. It is compiled and presented on a best-endeavours basis from publicly available sources, but we do not guarantee its accuracy, completeness, timeliness, or suitability for any particular purpose.
No content on this website constitutes financial advice, investment recommendation, solicitation, or an offer to buy or sell any securities. Past performance is not indicative of future results, and all investments carry risk, including the potential loss of capital.
The point of truth for any ETF is always the official product disclosure statement (PDS), website, and announcements from the ETF issuer/provider (e.g., Vanguard, BetaShares, iShares, VanEck, etc.). We link directly to these primary sources on each individual ETF page wherever possible—please verify all details there before making any decisions.
ReviewETF.com.au, its owner (Joshua), and any associated entities disclaim all liability for any loss or damage arising from the use of, or reliance on, information contained on this site. Users should seek independent professional financial advice tailored to their personal circumstances.
This website may contain links to third-party sites; we are not responsible for their content or privacy practices.
Last updated: January 2026
