Australian Finance Podcast

BGBL v GGBL, Gearing 101, and debt inside Super


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In this Australian Finance Podcast episode, your host Owen Rask chats with Cameron Gleeson, Senior Investment Strategist at Betashares, to break down the concept of gearing using ETFs. Together, they explore:


– What gearing means in a finance and ETF context

– How Betashares Wealth Builder ETFs use leverage

– The difference between moderate gearing (30–40%) and high gearing (50–65%)

– Why gearing can help you outperform over the long term

– Who should (and shouldn’t) consider geared ETFs

– How gearing works inside superannuation


Whether you're new to investing or looking for advanced portfolio tools, this episode unpacks gearing step-by-step in plain English.


If you like this Australian Finance Podcast episode on ETF gearing, don't forget to subscribe for weekly shows on Apple, Spotify, YouTube, or wherever you get your podcasts!


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Topics Covered

– What is Gearing in Finance?

– How Gearing Works Inside an ETF

– Example: 100 + 50 = 150 (Loan to Value Ratio explained)

– The Difference Between Margin Loans and Geared ETFs

– Interest Rates: What Betashares Pays vs Individuals

– Rebalancing Explained: Managing the Gearing Level

– Drawdowns, Volatility & Risks of Leverage

– ETF Ticker Breakdown:

 – GEAR (High-geared Aussie Equities)

 – GGUS (High-geared US Equities)

 – G200 (Moderately Geared Aussie Equities)

 – GNDQ (Moderately Geared NASDAQ)

 – GGBL (Moderately Geared Global Equities)

– Gearing in Super: Pros & Considerations

– When Gearing Doesn’t Work

– Blending Geared and Non-Geared ETFs in a Portfolio


Chapters (approximate)

(00:00) Introduction

(04:52) How Gearing Works in ETFs

(09:15) Advantages of Using Gearing in Investments

(11:33) Tax Implications of Gearing

(15:04) Risks and Downsides of Gearing

(17:44) Comparing Different Gearing Strategies

(20:55) Long-Term Performance and Rebalancing

(24:15) Investing in Super: Advantages and Disadvantages

(27:36) Understanding GGBL: A New Investment Opportunity

(29:33) Risk Tolerance and Market Volatility

(34:23) Managing Gearing Levels in ETFs

(39:03) The Mechanics of Gearing and Rebalancing


Resources for this episode

Buy Gemma’s book “The Money Reset”

Ask a question (select the Finance podcast)


Show partner resources

Join Pearler using code “RASK” for $15 of Pearler Credit

Get 50% off your first two months using PocketSmith

View Betashares range of funds


Rask resources

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Instagram: @rask.invest

TikTok: @rask.invest


DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

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