Ardea Real Outcome Bond Complex ETF (XARO) Review & Analysis

MER Β· #306 of 514AUM Β· Top 50%1Y Return Β· Top 50%3Y Return Β· #284 of 3005Y Return Β· #170 of 225
What's new this monthData to 30 September 2026
  • +0.3% in September (total return), ahead of the median international bonds ETF at βˆ’1.8%.
  • Investors withdrew a net $1.4m (-0.9% of the fund).
  • The unit price closed the month at $25.28, 1% below its 12-month high (range $24.32 to $25.41).

About XARO

XARO is an international bonds ETF from Ardea, listed on the ASX since December 2018. With $148m under management it is number 14 of 48 international bonds ETFs by size. The management fee is 0.50% a year, about $50 on every $10,000 invested, in line with the typical international bonds ETF at 0.50%.

Over five years it has returned +2.3% a year including distributions, against βˆ’0.9% 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.

Compare XARO with

XARO price by TradingView

Stock CodeXARO
Fund ManagerArdea
Asset ClassInternational bonds
AUM$148m
MER (%)0.50%
Net flows (Sep)βˆ’$1.4m
Last Price$25.28
52-Week Range$24.32 – $25.41
Bid/Ask Spread0.16%
Listing Date10/12/2018
ExchangeASX
IndexNone: actively managed. See the PDS for its benchmark
Issuer websiteArdea β†—

Performance (% return)

0%4%8%12%1M0.3%1Y4.2%3Y8.0%5Y12.0%
1 month+0.3%
1 year+4.2%
3 years p.a.+2.6%
5 years p.a.+2.3%

$10,000 invested…

1 year ago$10,4213 years ago$10,7985 years ago$11,203

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.

XARO at a glance: strengths and things to watch

πŸ‘ Strengths

  • Ahead of its peers. +2.3% a year over 5 years, against βˆ’0.9% for the median international bonds ETF.

⚠️ Things to watch

  • Nothing stands out against its category.

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

Joshua StegaetfadviserTrend check
Base since 7 Oct 2026

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

XARO'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.

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.

Read more at etfadviser.com.au β†’

Investment Focus

Themes & Sectors

Active ETFsBonds & fixed income

Portfolio Breakdown

Sector breakdown

  • Bonds & cash100.0%

Holdings from the issuer's published portfolio. Compare XARO's holdings with other ETFs β†’

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.
VBNDVanguard Global Aggregate Bond Index (Hedged) ETF Currency hedged–0.20%$4.9bnβˆ’1.2%+3.3%βˆ’1.3%
WBNDBetashares Global Aggregate Bond Currency H ETF–0.19%$782mβˆ’0.6%––
FRARFranklin Australian Absolute Return Bond Fund – Active ETF Active–0.50%$695m+2.5%––
AESGiShares Global Aggregate Bond ESG (AUD Hedged) ETF Currency hedged–0.19%$455mβˆ’1.0%+3.4%–
USTBGlobal X US Treasury Bond ETF (Currency Hedged) Currency hedged–0.19%$453mβˆ’1.5%+2.6%–
IHCBiShares Global Corporate Bond (AUD Hedged) ETF Currency hedged–0.26%$339mβˆ’1.4%+4.4%βˆ’0.9%

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

XARO vs its closest alternatives

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

VBND Vanguard Global Aggregate Bond Index (Hedged) ETF

  • VBND is cheaper (0.20% vs 0.50%), worth about $20,392 on $100,000 over 20 years.
  • Over 3 years, a year: XARO +2.6%, VBND +3.3% (VBND ahead by 0.7 percentage points).
  • VBND is much larger ($4.9bn vs $148m), which usually means tighter trading spreads.
  • Different structure: XARO is a standard fund, VBND is currency hedged.

Compare XARO and VBND side by side β†’

WBND Betashares Global Aggregate Bond Currency H ETF

  • WBND is cheaper (0.19% vs 0.50%), worth about $21,091 on $100,000 over 20 years.
  • Over 1 year: XARO +4.2%, WBND βˆ’0.6% (XARO ahead by 4.8 percentage points).
  • WBND is about 5 times larger ($782m vs $148m), which usually means tighter trading spreads.

Compare XARO and WBND side by side β†’

FRAR Franklin Australian Absolute Return Bond Fund – Active ETF

  • Both charge the same fee (0.50%).
  • Over 1 year: XARO +4.2%, FRAR +2.5% (XARO ahead by 1.7 percentage points).
  • FRAR is about 5 times larger ($695m vs $148m), which usually means tighter trading spreads.
  • Different structure: XARO is a standard fund, FRAR is actively managed.

Compare XARO and FRAR side by side β†’

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

XARO FAQs

What is the fee for XARO?

XARO charges a management fee (MER) of 0.50% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is XARO?

XARO had $148m in funds under management as at 30 September 2026.

How has XARO performed?

XARO returned +4.2% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +2.6% a year. Past performance is not a reliable indicator of future performance.

Who manages XARO?

XARO is managed by Ardea and has been listed since December 2018.

Is XARO franked?

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

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Ardea product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.