DHHF ETF Review (2026): Fees, Performance & Holdings

DHHF is the BetaShares Diversified All Growth ETF, an ASX-listed fund that holds four underlying equity ETFs to give investors a 100% growth, globally diversified portfolio in a single ticker. Its MER is 0.19% p.a. It uses an AMIT (company-style) structure for tax purposes.

Key facts

Figures as at Q2 2026. Live numbers are on the DHHF detail page.

Pros and cons

What does DHHF invest in?

DHHF does not track a single index. Instead, it holds four underlying equity ETFs that together provide global equity exposure (the underlyings include funds from BetaShares, Vanguard and SPDR/State Street):

• Australian shares — the largest companies listed on the ASX.
• International developed shares (ex-Australia) — large- and mid-cap companies across developed markets, with a heavy US weight.
• US shares — a tilt toward US large-cap equities on top of the developed-market exposure.
• Emerging-market shares — large- and mid-cap companies in markets such as China, India, Taiwan and Brazil.

Sector exposure broadly mirrors global market-cap weights, with information technology (22%), financials (18%) and health care (8%) typically among the largest allocations. Australian equities are over-weighted relative to Australia's share of global markets — a home-country tilt common to Australian diversified ETFs. As a fund-of-funds, the management team rebalances between the underlying ETFs as new investor cash flows arrive, which reduces forced selling relative to a hard quarterly-rebalance approach.

Look-through sector breakdown

Performance

Historical annualised total returns to Q2 2026:

Past performance is not a reliable indicator of future returns.

DHHF launched in 2020, so its live track record is shorter than that of some older diversified ETFs. Because DHHF is 100% growth assets and unhedged, short-term volatility is meaningfully higher than a balanced (e.g. 70/30 or 60/40) fund — a 100% equity allocation has historically experienced drawdowns of 30% or more in equity bear markets. AUD-reported returns also reflect movements in the Australian dollar against the foreign currencies of the underlying holdings.

Fees and costs

DHHF charges 0.19% per annum, which is approximately $19/yr per $10,000. This is deducted from the fund's net asset value rather than billed separately. For a diversified, multi-ETF wrapper that handles rebalancing internally, this fee sits at the lower end of the diversified-ETF category; plain single-asset-class ETFs typically charge less because they do not manage internal allocations across multiple underlying funds. Model the long-term impact with the ETF fee calculator.

Tax efficiency

DHHF uses an AMIT (attribution managed investment trust) structure, sometimes described as the “company-style” or attribution model. Under AMIT rules, the fund attributes taxable income to unit holders based on a determined amount rather than mechanically distributing realised gains. In practice this means AMIT-style diversified funds have historically produced fewer unexpected capital gains distributions than trust-of-funds structures that must distribute net realised capital gains each year.

The most direct comparison is to VDHG, which uses a traditional trust-of-funds approach and has historically distributed capital gains to unit holders as a result of internal rebalancing, even in years when unit holders did not sell. DHHF's AMIT framework is designed to reduce this risk, although it does not eliminate it. Because DHHF's allocation is dominated by international shares, franking credits are expected to be minimal — only the Australian-equity sleeve generates franked income, so most of the yield is unfranked international income. For the international component, foreign income tax offsets (FITOs) may be available for tax already paid offshore. Work through your own position with the Franking Credit Calculator. Tax outcomes depend on your individual circumstances; consider a registered tax agent.

DHHF vs alternatives

DHHF vs VDHG

The headline diversified-ETF comparison: AMIT vs trust-of-funds structure, 100% growth vs ~90/10 growth/defensive, and different underlying providers. Overlap is approximately 57%. See DHHF vs VDHG and the full VDHG review.

DHHF vs VAS

Comparing a diversified all-growth wrapper to a single-country Australian-equity ETF. See DHHF vs VAS.

DHHF vs VGS

Comparing the diversified wrapper to a pure international developed-markets ETF. See DHHF vs VGS.

Who DHHF may suit, and who it may not

May suit

• Investors who want a one-ticker, globally diversified equity portfolio without managing allocations themselves
• Investors with a long time horizon, comfortable with 100% growth-asset exposure
• Investors who want to reduce the risk of unexpected capital gains distributions from trust-of-funds rebalancing

May not suit

• Investors who want a defensive (bond or cash) allocation inside the same fund — DHHF holds none
• Investors who prefer to control their own Australian / international / emerging-market weights
• Investors who want currency-hedged international exposure (DHHF is unhedged)

These are general descriptions of common situations, not personal recommendations. Whether DHHF is appropriate depends on your individual circumstances, which ETFLens cannot assess.

How to buy DHHF

DHHF trades on the ASX under the ticker DHHF and can be bought through any Australian broker that offers ASX access — commonly used options include Pearler, Stake, Superhero and CommSec. Brokerage costs, order types and account features differ between providers, so compare them against your own requirements. There is no minimum investment beyond the cost of one unit plus brokerage.

Frequently asked questions

Related links

• DHHF vs VDHG
• DHHF vs VAS
• DHHF vs VGS
• VDHG ETF Review
• DHHF live data and holdings
• ETF Overlap Checker
• Franking Credit Calculator

Last updated: May 2026. Holdings, fees and returns are reviewed quarterly; live price and assets update on the DHHF detail page.