Key highlights

  • MVW holds 76 of the largest and most liquid ASX-listed companies at equal weights, with its top 10 making up only 14.80%.
  • Real Estate (10.83%) and Industrials (9.33%) are above the category averages of 5.75% and 6.74%, while Financial Services is 20.70%.
  • The fund size is $3.30 billion, the management fee is 0.35% and its annual yield is shown as 3.39%.

Most Australian index ETFs weight each company by its market value, which gives a handful of banks and miners a large share of the portfolio. Equal-weight ETFs take a different approach by giving each company a similar weight. The VanEck Australian Equal Weight ETF (ASX:MVW) was admitted to the ASX on 6 March 2014, is classified by Morningstar as Equity Australia Large Blend and uses the MVIS Australia Equal Weight GR AUD index as its benchmark.

This article describes the exposure MVW provides, using its ASX fund page, including its sector mix, largest holdings, fee and distributions. It contains no return data or advice.

What the fund is designed to do

The fund gives investors access to a portfolio of the largest and most liquid ASX-listed companies, all equally weighted, with diversification across both companies and sectors. In an equal-weight portfolio, a company that is far larger than the others has the same starting weight as the smaller members, and the portfolio is periodically rebalanced to restore those weights.

The fund holds 76 companies and has a turnover ratio of 35.80%, which is higher than that of many market-cap-weighted funds because of rebalancing. Its beta is 0.64 and its standard deviation 7.98. The fund size is $3.30 billion with 85,520,318 units outstanding, and its average daily volume is 106,859 units. The ASX page also marks MVW with a warrants tab, indicating that related products are listed.

Sector allocation

The sector breakdown shows Financial Services (20.70%), Basic Materials (20.33%), and Real Estate (10.83%) as the three largest allocations. Relative to its Morningstar category average, the fund holds a higher share in Real Estate (10.83 vs 5.75%), Industrials (9.33 vs 6.74%), and Technology (5.66 vs 3.32%). It holds a lower share than the category average in Financial Services (20.70 vs 30.04%), and Basic Materials (20.33 vs 26.24%). The remaining listed sectors are Industrials (9.33%), Healthcare (8.15%), Energy (6.51%), Technology (5.66%), Consumer Cyclical (5.49%), Communication Services (5.18%), and Consumer Defensive (3.98%).

Because every company starts with a similar weight, the sector mix follows the number of companies in each sector rather than their total size.

Asset mix, company size and geography

The fund is 99.99% in shares and 0.01% in cash. All of the fund, 100.00%, is in companies above $1 billion, compared with 92.40% for the category. By geography, 98.78% is in Australia and 1.22% in the United Kingdom, compared with 94.32% and 0.92% for the category.

Top holdings

The ten largest holdings make up only 14.80% of the fund, with 85.20% across the other 66, which is far less concentrated than a market-cap-weighted ETF. They are Codan (ASX:CDA) at 1.92%, Northern Star Resources (ASX:NST) at 1.45%, Washington H. Soul Pattinson (ASX:SOL) at 1.44%, CSL (ASX:CSL) at 1.44%, Suncorp Group (ASX:SUN) at 1.43%, JB Hi-Fi (ASX:JBH) at 1.42%, QBE Insurance Group (ASX:QBE) at 1.42%, Ampol (ASX:ALD) at 1.42%, ASX Limited (ASX:ASX) at 1.42% and Ramsay Health Care (ASX:RHC) at 1.40%.

The largest holding is only 1.92% of the fund, and the range between the first and tenth is about half a percentage point.

Distributions

MVW pays distributions twice a year. The most recent was a final distribution of $0.660 per unit, with an ex-date of 1 July 2026, a record date of 2 July 2026 and a payment date of 27 July 2026. Earlier distributions were $0.650 in January 2026, $1.090 in July 2025, $0.650 in January 2025 and $0.940 in July 2024. The page lists an annual yield of 3.39%.

Fund snapshot and recent filings

On the ASX page, MVW showed a last price of $38.70, up $0.10 or 0.25%, a bid-offer range of $38.20 to $38.90, a day range of $38.69 to $38.87 and a trading volume of 66,816 units. The management fee is 0.35% and the ISIN is AU000000MVW8. Its head office is at Level 12, Suite 1, 60 Castlereagh Street, Sydney.

Recent announcements include the issued units outstanding report as at 30 September 2026 on 7 October, the annual report for the year ended 30 June 2026 on 28 September, the reports as at 31 August and 31 July on 4 September and 6 August, and dividend component details on 16 July 2026.

What MVW’s exposure adds up to

MVW provides equal-weighted exposure to 76 large ASX-listed companies, with a lower weight in banks and miners and a higher weight in property and industrials than a market-cap-weighted fund. It carries a 0.35% fee and distributes twice a year.