BetaShares FTSE 100 Currency Hedged ETF (H100) — Review & Analysis

H100 is the currency-hedged version of F100 — same FTSE 100 exposure with the GBP/AUD effect neutralised. AUM is $22.51 million as at May 2026 with a 0.48% p.a. management fee — just 3bp above unhedged F100 (0.45%). Compare H100 across the Europe cohort on our Europe ETF page, or use the Compare ETFs tool to compare H100 vs F100 directly.

The H100 vs F100 decision is the cleanest currency-hedging case study on the ASX. Both funds track the same FTSE 100 index, both hold the same companies (AstraZeneca, Shell, HSBC, BP, Unilever, Rio Tinto), and both are managed by Betashares. The only meaningful difference is the FX overlay — H100 strips out GBP/AUD movements while F100 keeps them.

The 3bp fee differential between H100 (0.48%) and F100 (0.45%) is extremely tight — meaning Betashares is essentially offering the hedge at near-cost. When the AUD rallies against the GBP, H100 outperforms; when the AUD weakens, F100 outperforms because the unhedged GBP exposure adds to returns. Over multi-decade periods these tend to balance out, but in any 1-3 year window the FX moves can produce 5-15% gaps between the two.

H100 is the right choice for investors who want pure FTSE 100 equity returns without the GBP/AUD overlay — typically retirees taking AUD distributions or those running explicit FX management at the portfolio level. The fund pays semi-annual distributions. Our hedged vs unhedged ETFs guide covers the H100 vs F100 trade-off and the broader FX hedging framework.