Highlights

  • MVS uses the MarketGrader Australia Small Cap 60 index as its reference benchmark.
  • The index combines fundamental company selection with equal weighting at scheduled rebalances.
  • Basic materials represented 24.16%, industrials 20.34% and consumer cyclical companies 14.51%.
  • The top ten holdings represented 19.54%, with management fees and costs listed at 0.49%.

VanEck Small Companies Masters ETF (ASX:MVS) provides exposure to selected Australian-listed smaller companies through the MarketGrader Australia Small Cap 60 Index. The benchmark uses fundamental measures to select companies within its small company universe. At the time of writing on 6 November 2026, MVS was trading at AUD 20.00. Its portfolio spans several industries, with materials, industrials and consumer cyclical businesses accounting for the largest sector allocations.

Fundamental selection shapes the small company universe

The reference index evaluates company fundamentals across growth, value, profitability and cash flow. It uses its scoring framework and Earnings Yield measures to select constituents, rather than simply holding the entire smaller company market. The approach is intended to combine growth at a reasonable price with quality considerations.

Index constituents are equally weighted at scheduled rebalances, although market movements and implementation can cause actual portfolio weights to differ between those dates. The portfolio listing contained 61 holdings. Fundamental selection establishes the eligibility framework but does not guarantee company growth or a particular Investment outcome.

Sector allocations and leading company holdings

Basic materials represented 24.16% of sector exposure, industrials 20.34%, consumer cyclical companies 14.51%, financial services 9.40% and energy 7.99%. Technology accounted for 6.74%, communication services 6.40%, real estate 3.72%, consumer defensive companies 3.44% and healthcare 3.29%.

SKS Technologies was the largest holding at 2.25%, followed by Ingenia Communities at 2.00%, Maas Group at 1.98%, Macmahon at 1.93% and Tasmea at 1.92%. AIC Mines, Southern Cross Electrical Engineering, IPD Group, Cuscal and Pantoro Gold completed the top ten. These positions represented 19.54%, spreading much of the allocation across other selected companies.

Size profile costs and distributions

The Market Capitalisation breakdown allocated 75.70% to companies between AUD 500 million and AUD 1 billion, 19.89% to those above AUD 1 billion and 4.41% below AUD 500 million. Geographic exposure was reported as entirely Australian, with equities accounting for 99.99% of assets. Fund size was listed at AUD 176.00 million.

Management fees and costs were listed at 0.49%. A final distribution of AUD 0.270 per unit had an ex-distribution date of 1 July 2026, a Record Date of 2 July and payment on 27 July. Future amounts can vary. Selection methodology, company Liquidity and smaller Business funding conditions remain relevant risks alongside general Equity market movements.

Key Insights

MVS provides a selected smaller company allocation using a fundamental index framework and equal weighting at rebalances. Its largest holdings have modest weights, while the market capitalisation breakdown is centred on the AUD 500 million to AUD 1 billion band. Methodology and portfolio composition together explain the exposure.