VanEck Geared Australian Equal Weight Complex ETF
Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among Australian equity funds would cost $655 (1.31% a year), so GMVW is $468 cheaper.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at 3 Sept 2026 · 74 securities · top 10 = 17.5%
Country
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.2 | 0.3 | −11.4 | 4.3 | 0.8 | 5.2 | 1.1 | 4.3 | −4.5 | −0.2 | 2.0YTD | ||
| 2025 | 8.8 | −7.5 | −5.7 | 3.8 | 9.2 | 1.6 | 4.6 | 4.8 | −3.0 | −0.7 | −4.1 | −3.3 | 7.2 |
| 2024 | 7.6 | −4.8 | −1.6 | −1.5 | 6.8 | −0.8 | 9.5 | −3.9 | 8.6 | −7.4 | 11.2 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
GMVW questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is VanEck Geared Australian Equal Weight Complex ETF?
VanEck Geared Australian Equal Weight Complex ETF holds 74 securities, and its ten largest positions make up 17.5% of the fund, more spread out than the 25.2% typical of Australian equity funds. That makes it moderately diversified.
Its country exposure is almost entirely Australia (100.0%), based on holdings as at 3 Sept 2026.
Which ETFs does GMVW double up with most?
GMVW shares the most holdings with VanEck Australian Equal Weight ETF (MVW) (100% overlap), iShares Edge MSCI Australia Minimum Volatility ETF (MVOL) (57% overlap) and Betashares Australian Ex-20 Portfolio Diversifier ETF (EX20) (52% overlap). Overlap is the share of the portfolio the two funds hold in common, looking through to the underlying securities.
At 100%, owning both GMVW and MVW would mostly double up on the same investments rather than spread your money further. Of these, EX20 has the lowest fee, at 0.25% a year against 0.35% for GMVW.
How is VanEck Geared Australian Equal Weight Complex ETF managed – active or passive?
VanEck Geared Australian Equal Weight Complex ETF is passively managed: it follows an index and holds what that index holds, rather than relying on a manager's stock picks. Its index uses an equal-weight approach, so it is sometimes called "smart beta".
It is also geared: it borrows to magnify returns, so gains and losses are larger than the market's.
What will I pay in fees for GMVW?
GMVW charges a management fee of 0.35% a year, about $35 for every $10,000 invested. That is cheaper than 58% of the 471 ASX ETFs we track, where the median fee is 0.44%. Among Australian equity funds, the median is 1.29%.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.13% for GMVW.
Does VanEck Geared Australian Equal Weight Complex ETF follow a theme?
Not a theme as such, but it follows an equal-weight investment style: it gives each company roughly the same weight, so smaller companies count as much as the largest.
Other ASX funds using an equal-weight approach include VanEck Australian Equal Weight ETF (MVW), Betashares S&P 500 Equal Weight ETF (QUS), Betashares S&P 500 Equal Weight Currency Hedged ETF (HQUS) and Betashares NASDAQ 100 Equal Weight ETF (QNDQ).
What is under the hood of GMVW?
As at 3 Sept 2026, GMVW's ten largest holdings are Csl Ltd (2.2%), Perseus Mining Ltd (1.9%), Evolution Mining Ltd (1.8%), Ramelius Resources Ltd (1.8%), Ramsay Health Care Ltd (1.8%), Cochlear Ltd (1.8%), Northern Star Resources Ltd (1.6%), Ampol Ltd (1.5%), South32 Ltd (1.5%) and Aristocrat Leisure Ltd (1.5%). Together they make up 17.5% of the fund.
Rather than simply weighting companies by market size, its index gives each company roughly the same weight, so smaller companies count as much as the largest.
How well has VanEck Geared Australian Equal Weight Complex ETF performed?
Based on its category, VanEck Geared Australian Equal Weight Complex ETF aims to grow your capital in line with the index it tracks.
To 23 Oct 2026, with distributions reinvested, it returned −9.0% over 1 year (median −2.0%; ranked 5 of 6). The medians and rankings compare it with Australian equity funds. Since listing in 2024 it has returned 8.2% a year.
Tracking difference is the gap between a fund's return and its index's return. We don't hold index returns, so we can't measure it for GMVW; the issuer reports it in the monthly fact sheet. As a guide, a well-run index fund trails its index by about its fee, here 0.35% a year, and a much bigger gap is a warning sign.
Past performance is not a reliable indicator of future performance.