DHHF — the BetaShares Diversified All Growth ETF — is a single-fund solution holding global and Australian shares with no bonds. With a 100% growth asset allocation and a competitive MER, DHHF has become one of the most widely discussed ETFs among Australian investors seeking an aggressive, low-cost diversified portfolio in one trade.
DHHF at a Glance (2026)
| Feature | Detail |
|---|---|
| ASX code | DHHF |
| Full name | BetaShares Diversified All Growth ETF |
| Allocation | 100% shares (0% bonds) |
| MER | 0.19% per year |
| Distribution frequency | Half-yearly |
| Inception date | December 2020 |
| Fund size | $2B+ (AUM) |
| Provider | BetaShares |
Verify current details at betashares.com.au.
What Does DHHF Hold?
DHHF is a fund of funds — it holds four underlying ETFs covering different geographic markets:
| Region | Allocation | Underlying ETF |
|---|---|---|
| Australian shares | ~37% | A200 (BetaShares Aus 200) |
| International shares (developed) | ~40% | BGBL (BetaShares Global Shares) |
| International shares (developed hedged) | ~11% | HGBL (BetaShares Hedged Global Shares) |
| Emerging market shares | ~12% | HEMQ (BetaShares Emerging Markets) |
Total holdings through underlying ETFs: 8,000+ securities across 50+ countries.
Allocation percentages are targets and may vary. Check betashares.com.au for current breakdown.
100% Shares — What This Means
Unlike VDHG (which holds ~10% bonds), DHHF holds only shares. This means:
- Higher expected long-term return — growth assets historically outperform defensive assets over long periods
- Higher short-term volatility — in a market crash, DHHF will fall further than VDHG
- No bonds drag — some investors prefer to exclude bonds from their portfolio, particularly younger investors with long time horizons
- Simpler rebalancing — no need to manage bond/share allocation separately
DHHF is often described as suitable for investors with a long time horizon (10+ years) and high risk tolerance who want maximum growth exposure.
DHHF MER — 0.19%
The 0.19% MER covers both DHHF itself and its proportional share of the underlying ETF fees (A200, BGBL, HGBL, HEMQ). This is the total cost — no additional layer of fees. At 0.19%, DHHF is competitive for a globally diversified, 8,000-stock portfolio in a single ASX trade.
On $100,000 invested, the annual fee is $190.
DHHF vs VDHG — Key Differences
| Feature | DHHF | VDHG |
|---|---|---|
| Provider | BetaShares | Vanguard |
| Shares allocation | 100% | ~90% |
| Bonds allocation | 0% | ~10% |
| MER | 0.19% | 0.27% |
| Holdings | 8,000+ | 14,000+ |
| Inception | 2020 | 2017 |
See the dedicated VDHG vs DHHF comparison.
Australian vs International Allocation
DHHF holds approximately 37% Australian shares — broadly reflecting Australia’s weight in a globally diversified portfolio combined with a home country bias that many Australian investors prefer. The remaining 63% is spread across developed and emerging international markets.
This gives DHHF better geographic diversification than a pure Australian ETF (VAS, A200), while still maintaining meaningful exposure to the domestic market.
DHHF Distributions
DHHF distributes half-yearly (June and December). Distributions include:
- Australian dividend income and franking credits (from A200 component)
- International dividend income (from BGBL, HGBL, HEMQ components)
- Foreign income tax offsets
- Potential capital gains distributions (from index rebalancing)
Distribution yields have been modest — typically 1–2% cash yield — because DHHF is designed as a growth-focused fund. Annual tax statements detail all components.
Related Articles
- VDHG ETF Review
- VDHG vs DHHF
- Best ETF for Beginners Australia
- BetaShares ETFs Australia
- Diversified ETFs Australia
- ETFs hub
Frequently Asked Questions
Is DHHF good for beginners? DHHF is often mentioned as a beginner-friendly ETF because it provides global diversification across 8,000+ companies in a single ASX trade, at a low cost. Its 100% shares allocation suits investors with a long time horizon who can tolerate significant short-term losses. Investors closer to retirement or with a lower risk tolerance may prefer a diversified fund with a bonds component, like VDHG or VDGR.
How long should I hold DHHF? DHHF is a growth-oriented fund designed for long-term investing — it is typically considered suitable for investment horizons of 7–10 years or more. In the short term, its 100% shares allocation can experience significant drawdowns during market corrections. Financial educators often reference DHHF as a long-term accumulation vehicle, not a short-term holding.
Does DHHF pay franking credits? Yes, partially. The A200 component (~37% of DHHF) holds Australian companies that pay franked dividends, and these franking credits are passed through to DHHF unit holders. The international components do not carry Australian franking credits. The overall gross-up from franking credits is lower than for a pure Australian share ETF.
This article provides general financial information only. ETF mentions are for educational context. Past performance is not a reliable indicator of future performance. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.