Wade's struggle with the bat in Bangladesh have continued in the ongoing series against India as well, and he was dropped from the third ODI in Indore.
On the other hand, Handscomb, while playing as a specialist batsman, was amongst the runs in Bangladesh and has also showed decent form in India.
Wade had no hesitation in admitting that he has not been good enough of late.
"I probably have not scored enough runs," said Wade ahead of the fifth and final ODI here tomorrow.
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However, he insisted that his lean run of form with the bat had nothing do with the sub-continental conditions.
"A lot has been made about me failing in Bangladesh and couple of times here but before also I played in India I was batting really well. I would have liked to score more runs in this series but that has not happened.
However, Wade feels he has not done much wrong behind the stumps.
"I thought I kept quite well in Bangladesh. I know there was lot of talk, especially during the first Test with the number of byes I conceded but if you look at their keeper and given the conditions, I thought we were quite similar.
"I felt, in the second Test especially, I took some good chances. I have been pretty good here. I felt I kept quite well. Selectors have told me there have been no concerns with my keeping, they just want me to score more runs," said Wade.
"They will be crucial for my chances. I'm not worried about the matches, I have to score runs any time I have to go bat. I have to score runs regardless of if I'm trying to score runs for the Ashes or getting picked for Australia or whoever I'm playing for at the time."
Australia are down 1-4 in the series with the final ODI scheduled tomorrow and Wade said it was important to sign off on a high.
"This is a new team and it will be nice to get some wins under our belt and get some continuity. It will be nice to play 5 or 6 or 7 matches with a similar looking team. Our players have not performed well enough, myself included. It will be nice to finish here with a win and then lead into the Australian summer," said Wade.