Key Highlights

  • VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) is listed in the Equity Australia Large Geared category and a management fee of 0.35%.
  • The largest sector weighting is Financial Services at 20.85%, with stock making up 221.23% of reported asset allocation.
  • The latest final distribution is $0.330 per unit, with a payment date of 29 Jul 2026.

Introduction: Fund Overview

VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) is an exchange traded fund listed on the ASX within the Equity Australia Large Geared category. It was admitted to the exchange on 29 February 2024, and no benchmark is listed for it. The fund combines investor application money with borrowed funds and invests in the VanEck Australian Equal Weight ETF (ASX:MVW).

The management fee listed for the fund is 0.35%. The fund’s head office is listed in Sydney. The sections below walk through the latest trading snapshot, portfolio composition, distribution information, risk measures and recent announcements for the fund.

Latest Trading Snapshot

The last price was $39.12, unchanged on the session (0.00%), against a previous close of $39.12. No trading volume had been recorded at the time of the snapshot, with a bid and offer range of $39.08 to $39.42. Average volume is shown as 2,990 units. The page shows no fund size or units outstanding figure for the fund at this stage. Prices are delayed by at least 20 minutes.

Portfolio Composition and Allocation

Asset allocation data lists stock at 221.23%, cash at -1.41% and bond at -119.82%. Figures below zero or above 100% point to borrowing or derivative positions within the structure, which is reflected in how Morningstar reports the allocation. Morningstar sector data shows the largest weightings in Financial Services (20.85%), Basic Materials (20.40%) and Real Estate (10.57%). Compared with the category average, the largest overweight among the sectors listed is Energy, at 6.50% against 1.55%. The largest underweight is Financial Services, at 20.85% against 35.23% for the category.

By geography, Australia accounts for 98.77% and United Kingdom accounts for 1.23%. The fund has 4 total holdings. The holdings listed include VanEck Australian Equal Weight ETF (ASX:MVW) (221.26%) and HSBC Loan (119.81%).

Distribution Information

The most recent distribution listed is a final distribution of $0.330 per unit, with an ex-date of 01 Jul 2026, a record date of 02 Jul 2026 and a payment date of 29 Jul 2026. The distribution chart lists July 2026 ($0.330), January 2026 ($0.630), July 2025 ($1.570), January 2025 ($0.350) and July 2024 ($1.520). The latest payment is lower than the one before it, a reminder that amounts vary between periods.

Risk Measures and Recent Announcements

The fund has a beta of 1.39, a beta above 1, indicating higher sensitivity to market moves than the broader market on that measure, alongside a standard deviation of 17.38. Recent announcements include Issued Units Outstanding as at 30 September 2026 (07/10/2026), Monthly Disclosure Information as at 30 September 2026 (07/10/2026) and Annual Report FYE 30 June 2026 (28/09/2026).

Category and Market Context

Funds in the Equity Australia Large Geared category use borrowing to hold more exposure than the capital invested, which Morningstar notes increases the element of risk. Gearing magnifies both gains and losses on the underlying portfolio, and the cost of borrowing is part of how these products operate.

Key Risks and Considerations

Because the fund is geared, both gains and losses on the underlying portfolio are magnified, and borrowing costs form part of the structure. Distributions, fees and unit price movements may therefore behave differently from an ungeared fund holding similar shares, and the listed management fee of 0.35% is only one part of the cost picture.

What to Watch Ahead

Items that readers following VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) may track include the next monthly units-on-issue disclosure, distribution announcements and any portfolio or investment updates from the manager. Changes in the sector and asset mix, trading volumes and the fund’s size over time will also show how the portfolio is evolving. This article is informational and does not constitute investment advice.

The Bottom Line

VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) is a Equity Australia Large Geared fund admitted to the ASX on 29 February 2024, with the latest ASX data showing a last price of $39.12 and no change on the session, a portfolio led by financial services at 20.85%, and a latest final distribution of $0.330 per unit. Reading these figures alongside the fund’s category, fee, structure and risk measures gives a fuller picture of how the ETF is built and how it has been trading.