Key Highlights

  • The VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) combines investor money with borrowed funds.
  • The fund invests in the VanEck Australian Equal Weight ETF (ASX:MVW).
  • The fund size was $45.71 million, and the fund was admitted to the ASX on 29 February 2024.
  • Units were priced at $43.69, up 0.64% on the trading day.

The VanEck Geared Australian Equal Weight Complex ETF (ASX:GMVW) is a geared fund that combines investor application money with borrowed funds and invests the proceeds in the VanEck Australian Equal Weight ETF (ASX:MVW). As of 11 November 2026, the units were priced at $43.69, rising 28 cents or 0.64% on the day, and the fund size was $45.71 million. The fund was admitted to the ASX on 29 February 2024 and is categorised as Equity Australia Large Geared. The fund's geared structure means its exposure is larger than the Capital invested, and its underlying holding in an equal weight fund defines the portfolio the geared position is applied to.

Ticker

ASX:GMVW

Category

Equity Australia Large Geared

Benchmark

Not applicable

Admitted to ASX

29 February 2024

Last price

$43.69 (+0.64%)

Fund size

$45.71 million

Underlying fund

VanEck Australian Equal Weight ETF (ASX:MVW)

Gearing Structure

The fund combines application money from investors with borrowed funds. The total is then invested in the VanEck Australian Equal Weight ETF, so the fund's exposure is a geared position in that underlying product.

Gearing means the borrowed component increases the fund's exposure relative to the capital invested by unitholders. Movements in the underlying fund are therefore magnified in the value of the geared fund's units.

The fund carries no benchmark, consistent with its structure as a geared vehicle built on another listed fund.

The borrowed component is applied to the underlying fund in the same way as the investor money. The fund's exposure is therefore the combined amount, which is a multiple of the capital contributed.

Underlying Equal Weight Portfolio

The underlying VanEck Australian Equal Weight ETF gives access to a portfolio of the largest and most liquid ASX-listed companies, all equally weighted, with Diversification across companies and sectors.

Because the geared fund holds the underlying product, its exposure reflects the equal weight construction of that fund. The fund's own disclosures describe the holdings and turnover of the underlying portfolio.

Equal weighting in the underlying portfolio means each holding carries the same starting proportion. The geared fund inherits this construction, and its unit price reflects movements in the underlying holdings.

Listing and Trading

The fund was admitted to the ASX on 29 February 2024. On the trading day, the units recorded a Volume of 1,443 and were quoted within a bid-offer range of $40.00 to $43.75.

The fund's distribution history includes payments in July 2026, January 2026, July 2025, January 2025 and July 2024 in its regular reporting, reflecting the income received during each period.

The fund's disclosures set out its structure and the underlying holdings. Because the geared position depends on the underlying fund, readers may wish to review both sets of disclosures together.

Final Word

The fund uses borrowed funds to increase its exposure to an equal weight portfolio of large Australian companies, held through the VanEck underlying fund. Its gearing structure, fund size and listing history set out the factual reference points for readers. The geared structure, underlying equal weight fund and fund size together describe the product's profile, and the regular disclosures will show how the structure and holdings change over time.