Key Highlights

  • The fund holds 61 companies, with the top ten at only 19.54% and no holding above 2.25%.
  • Companies between $500 million and $1 billion in market capitalisation represent 75.70%.
  • The management fee is 0.49% and reported turnover is 50.10%.
  • The July 2026 distribution of $0.270 is lower than each of the four earlier half-yearly amounts.

VanEck Small Companies Masters ETF (ASX:MVS) aims to provide investment returns, before management costs, that closely track the returns of an index of Australian small-cap dividend payers, using a passive strategy of physically replicating the index by holding its securities in proportion to their weightings. The listed benchmark is the MarketGrader Australia Small Cap 60 Index. The fund was admitted to the ASX on 28 May 2015 and last traded at $20.69 on 13 October 2026.

Detail

Information

Ticker

ASX:MVS

Fund

VanEck Small Companies Masters ETF

Category

Equity Australia Mid/Small Blend

Benchmark

MarketGrader Australia Sml Cp 60 TR AUD

Fund size

$181.17 million

Management fee

0.49%

Total holdings

61

ASX admission date

28 May 2015

Holdings and turnover

The ten largest positions represent 19.54% of the fund. SKS Technologies leads at 2.25%, followed by Ingenia Communities (2.00%), MAAS Group (1.98%), Macmahon Holdings (1.93%) and Tasmea (1.92%). AIC Mines holds 1.90%, Southern Cross Electrical Engineering and IPD Group 1.89% each, Cuscal 1.87% and Pantoro Gold 1.86%.

Reported turnover is 50.10%, which is high for a physically replicated fund.

Sector, size and country mix

Basic Materials holds 24.16%, against 18.91% for the category, Industrials 20.34% and Consumer Cyclical 14.51%. Technology holds 6.74%, well below the 13.21% category weighting, and Healthcare 3.29%, against 6.47%.

Companies between $500 million and $1 billion represent 75.70%, those above $1 billion 19.89% and those below $500 million 4.41%. Australia accounts for 100% of the fund.

Fee, risk and distributions

The management fee is 0.49% a year. The fund reports a beta of 1.29 and a standard deviation of 20.18. The final distribution of $0.270 per unit had an ex-date of 1 July 2026, a record date of 2 July and payment on 27 July, equal to an annual yield of 2.84%.

That is lower than the $0.330 paid in January 2026, $0.320 in July 2025, $0.330 in January 2025 and $0.350 in July 2024.

Category classification and liquidity

Morningstar places the fund in the Equity Australia Mid/Small Blend category, which covers funds investing primarily in small- to mid-sized Australian companies, defined as stocks in the bottom 30% of the Australian equity market by capitalisation, with the blend style applied where neither growth nor value characteristics predominate.

Liquidity indicators add a further view. There are 8,602,393 units on issue, and average daily trading volume is 8,222 units. Over the five sessions from 7 to 13 October 2026, daily volume ranged from 24 to 8,100 units, with 5,998 recorded on 13 October while the market was still open. The bid-offer range stood at $20.14 to $20.67, and the day range at $20.69 to $20.87. These figures change through the trading day and reflect market activity rather than the fund's holdings.

Recent announcements

The issuer lodged Issued Units Outstanding as at 30 September 2026 on 7 October and the Annual Report for the year ended 30 June 2026 on 28 September. Unit notices followed for August and July, and dividend component details on 16 July.

Final Takeaway

MVS holds many small companies at similar weights, and three-quarters of its assets are in companies between $500 million and $1 billion. The 0.49% fee and very light trading volume are part of its profile. These facts do not forecast outcomes.