Betashares Geared Long US Treasury Bond Currency Hedged Complex ETF (GGFD) Review & Analysis

MER · #458 of 514AUM · #474 of 5081Y Return · #407 of 426

What's new this monthData to 30 September 2026

−10.8% in September (total return), behind the median international bonds ETF at −1.8%.
Investors withdrew a net $0.8m (-20.1% of the fund).
The unit price closed the month at $16.51, near its 12-month low (range $16.51 to $21.57).

About GGFD

GGFD is an international bonds ETF from Betashares, listed on the ASX since December 2023. With $3.3m under management it is number 40 of 48 international bonds ETFs by size. The management fee is 0.99% a year, about $99 on every $10,000 invested, dearer than the typical international bonds ETF at 0.50%.

Over the past year it returned −18.5%, against −0.8% for the median international bonds ETF. With its focus on bonds & fixed income, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

GGFD distributions and dividend dates

The latest distribution was $0.1065 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 16 July 2026. To receive it you need to own GGFD before the ex-date.

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

Compare GGFD Check overlap Betashares website ↗

Compare GGFD with

GGFDvsUSTB

Global X US Treasury Bond ETF (Currency Hedged)

Fee	0.99%	0.19%
1 year	−18.5%	−1.5%
5 yrs p.a.	–	–
Size	$3.3m	$453m

Same holdingsNo holdings data

Full comparison →

GGFDvsGGOV

Betashares US Treasury Bond 20+ Year Currency Hedged ETF

Fee	0.99%	0.22%
1 year	−18.5%	−8.0%
5 yrs p.a.	–	−9.3%
Size	$3.3m	$80m

Same holdingsNo holdings data

Full comparison →

GGFDvsTBIL

VanEck 1-3 Month US Treasury Bond ETF

Fee	0.99%	0.22%
1 year	−18.5%	−2.0%
5 yrs p.a.	–	–
Size	$3.3m	$110m

Same holdingsNo holdings data

Full comparison →

GGFDvsUTIP

Beta Inflation Protected US Treasury Bond Ch ETF

Fee	0.99%	0.22%
1 year	−18.5%	−1.9%
5 yrs p.a.	–	–
Size	$3.3m	$103m

Same holdingsNo holdings data

Full comparison →

GGFD price by TradingView

Stock Code	GGFD
Fund Manager	Betashares
Asset Class	International bonds
AUM	$3.3m
MER (%)	0.99%
Net flows (Sep)	−$0.8m
Last Price	$16.51
52-Week Range	$16.51 – $21.57
Bid/Ask Spread	0.27%
Listing Date	06/12/2023
Exchange	ASX
Index	None: actively managed. See the PDS for its benchmark
Issuer website	Betashares ↗

Performance (% return)

1 month−10.8%

1 year−18.5%

3 years p.a.–

5 years p.a.–

$10,000 invested…

1 year ago$8,149

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.

GGFD at a glance: strengths and things to watch

👍 Strengths

Nothing stands out against its category.

⚠️ Things to watch

Higher fee. At 0.99% a year it costs more than 90% of international bonds ETFs (median 0.50%), or about $49 a year more on every $10,000.
Small fund. With $3.3m under management, it is more at risk of being closed or merged than larger funds, and trading can be thinner.
Short track record. Listed in December 2023, so it hasn't been tested through a full market cycle.
Geared. It uses borrowing to magnify gains and losses. Over time, choppy markets can wear the value down, so it suits experienced, short-term investors.

Worked out from GGFD's fees, size, flows, returns and trend against the 48 international bonds ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 21 Oct 2026

GGFD is in a base. Here's why that matters.

GGFD's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

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 →

Why no chart? Bond, cash and currency fund prices drop each time a distribution is paid, so a price chart makes them look worse than they are. Check the total returns above instead.

Investment Focus

Themes & Sectors

Geared Currency hedged Active ETFs Bonds & fixed income

Portfolio Breakdown

Sector breakdown

Bonds & cash100.0%

Holdings from the issuer's published portfolio. Compare GGFD'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

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
USTB	Global X US Treasury Bond ETF (Currency Hedged) Currency hedged	–	0.19%	$453m	−1.5%	+2.6%	–
GGOV	Betashares US Treasury Bond 20+ Year Currency Hedged ETF Currency hedged	–	0.22%	$80m	−8.0%	−0.7%	−9.3%
TBIL	VanEck 1-3 Month US Treasury Bond ETF	–	0.22%	$110m	−2.0%	+1.6%	–
UTIP	Beta Inflation Protected US Treasury Bond Ch ETF	–	0.22%	$103m	−1.9%	+2.8%	–
IUSG	iShares U.S. Treasury Bond (Aud Hedged) ETF Currency hedged	–	0.15%	$33m	−1.7%	+2.4%	–
US10	Betashares US Treasury Bond 7-10Yr Ch ETF	–	0.22%	$19m	−3.3%	+2.1%	–

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

GGFD vs its closest alternatives

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

USTB Global X US Treasury Bond ETF (Currency Hedged)

USTB is cheaper (0.19% vs 0.99%), worth about $52,136 on $100,000 over 20 years.
Over 1 year: GGFD −18.5%, USTB −1.5% (USTB ahead by 17.0 percentage points).
USTB is much larger ($453m vs $3.3m), which usually means tighter trading spreads.
Different structure: GGFD is a geared fund, USTB is currency hedged.

Compare GGFD and USTB side by side →

GGOV Betashares US Treasury Bond 20+ Year Currency Hedged ETF

GGOV is cheaper (0.22% vs 0.99%), worth about $50,044 on $100,000 over 20 years.
Over 1 year: GGFD −18.5%, GGOV −8.0% (GGOV ahead by 10.5 percentage points).
GGOV is much larger ($80m vs $3.3m), which usually means tighter trading spreads.
Different structure: GGFD is a geared fund, GGOV is currency hedged.

Compare GGFD and GGOV side by side →

TBIL VanEck 1-3 Month US Treasury Bond ETF

TBIL is cheaper (0.22% vs 0.99%), worth about $50,044 on $100,000 over 20 years.
Over 1 year: GGFD −18.5%, TBIL −2.0% (TBIL ahead by 16.5 percentage points).
TBIL is much larger ($110m vs $3.3m), which usually means tighter trading spreads.
Different structure: GGFD is a geared fund, TBIL is a standard fund.

Compare GGFD and TBIL side by side →

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

GGFD FAQs

What is the fee for GGFD?

GGFD charges a management fee (MER) of 0.99% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is GGFD?

GGFD had $3.3m in funds under management as at 30 September 2026.

How has GGFD performed?

GGFD returned −18.5% over the year to 30 September 2026 (total return, including distributions). Past performance is not a reliable indicator of future performance.

Who manages GGFD?

GGFD is managed by Betashares and has been listed since December 2023.

Is GGFD franked?

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

Is GGFD currency hedged?

Yes. GGFD 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.