Key highlights

  • MQHG aims to outperform its index by an average of 1% per annum, before fees and expenses, over rolling five-year periods.
  • It invests in an unquoted class of the Macquarie Core Global Equity Fund and has a 0.18% management fee.
  • The ETF was admitted to the ASX on 4 December 2025, and its interim distribution was $0.028 per unit.

Currency-hedged global equity funds aim to give exposure to overseas shares while reducing the effect of exchange rate movements on the Australian dollar value of the investment. The Macquarie Core Global Equity (Hedged) Active ETF (ASX:MQHG) is one such product. It was admitted to the ASX on 4 December 2025, is classified by Morningstar as Equity World – Currency Hedged and uses the MSCI World ex Australia ex Tobacco, Controversial Weapons and Civilian Firearms Hedged NR AUD index as its benchmark.

This article explains the exposure MQHG provides, based on the information available on its ASX fund page. The page does not currently show holdings, sector or geographic data for the ETF, so the article focuses on the fund’s stated objective, its structure, its fee, its distribution and its filings. It contains no return data or advice.

What the fund is designed to do

The fund aims to outperform the index by an average of 1% per annum, before fees and expenses, over rolling five-year periods, by investing in an unquoted class of the Macquarie Core Global Equity Fund (ARSN 674 553 201), referred to as the Underlying Fund. The Underlying Fund provides exposure to a diversified portfolio of global equities through securities listed, or expected to be listed, on recognised security exchanges, and may also provide exposure to derivatives and cash.

Because the ETF invests through the Underlying Fund, its exposure comes from that fund’s portfolio rather than from direct share holdings. The stated objective is relative to the index, so the performance target is expressed as an average outperformance over five-year periods rather than an absolute return.

Morningstar describes Equity World – Currency Hedged funds as those that invest in companies listed on global equities markets and seek to protect against the impact of foreign currency movements by being predominantly hedged for foreign exchange risk as a neutral position. These portfolios may have a bias toward a style or size characteristic, and the returns used for the category benchmark are calculated before the management fee is applied.

Asset mix, company size and geography

The ASX page shows no asset allocation, sector, company-size or geographic data for MQHG at this stage, with all of its fields recorded as zero or blank. The category benchmark data on the page shows that peer funds hold, on average, 94.36% in stocks, 0.77% in cash and 4.87% in other assets, and that 95.94% of category assets are in companies above $1 billion.

The benchmark is a developed-markets index that excludes Australia, so exposure is expected to be to overseas companies, but the page does not show the actual country or sector weights of the fund.

Top holdings

The ASX page does not list holdings for MQHG, and its total holdings field is blank. The Underlying Fund, the Macquarie Core Global Equity Fund, is the vehicle through which the ETF’s portfolio is held, and information on the specific holdings is available in the fund’s own disclosures rather than on the ASX page.

Distributions

MQHG pays distributions on a quarterly basis. The most recent was an interim distribution of $0.028 per unit, with an ex-date of 1 October 2026, a record date of 2 October 2026 and a payment date of 16 October 2026. Earlier distributions were $0.154 in July 2026, $0.001 in April 2026 and $0.003 in January 2026, and the page lists an annual yield of 1.66%.

Fund snapshot and recent filings

On the ASX page, MQHG showed a last price of $11.34, up $0.01 or 0.17%, a bid-offer range of $11.34 to $11.39, a day range of $11.34 to $11.40 and a trading volume of 38,611 units against an average of 25,711. The management fee is 0.18% and the ISIN is AU0000431827. The head office address is PO Box R1723, Royal Exchange, Sydney.

Recent announcements include a Target Market Determination on 15 October 2026, the monthly redemptions, applications and units on issue notice on 7 October, the final distribution and distribution reinvestment plan issue price on 2 October, the full year accounts on 30 September and the estimated distribution on 28 September 2026.

What MQHG’s structure means for exposure

MQHG gives currency-hedged exposure to global equities through an underlying Macquarie fund, with a 0.18% management fee and an objective of outperforming its index by 1% a year over rolling five-year periods, before fees. Holdings and sector data are not yet shown on the ASX page.