DACE vs MQAE: Which ETF Is Better?
A side-by-side comparison of fees, size, returns and holdings, using data to 30 September 2026.
DACE comes out ahead on 4 of 6 measures. Which matters most depends on you.
The short answer
Worth about $17,593 on $100,000 over 20 years.
Bigger funds usually trade more cheaply and are less likely to close.
DACE vs MQAE side by side
| DACE leads on 4, MQAE on 2 | DACEDimensional Australian Core Equity Trust – Active ETF | MQAEMacquarie Core Australian Equity Active ETF |
|---|---|---|
| The basics | ||
| Index tracked | See the PDS | See the PDS |
| Fund manager | Dimensional | Macquarie |
| Asset class | Australian shares | Australian shares |
| Listed | Nov 2023 | May 2024 |
| Cost and size | ||
| MERyearly fee, lower is better | 0.28% | 0.03%✓ |
| AUMfund size | $7.2bn✓ | $1.3bn |
| Net flows (Sep)new money in, last month | $91m✓ | $63m |
| Bid/ask spreadtrading cost, lower is better | 0.14% | 0.11% |
| Total returns | ||
| 1 month | −1.8% | −1.7%✓ |
| 1 year | +4.9%✓ | +1.6% |
| 3 years p.a. | – | – |
| 5 years p.a. | – | – |
| $10,000 invested | ||
| 1 year ago | $10,493✓ | $10,155 |
| 5 years ago | – | – |
✓ marks the better figure on each measure. Returns include distributions, to 30 September 2026.
DACE vs MQAE price chart
Both ETFs on one chart as % change. Use the 1D to All buttons to change the period. Price only, so it leaves out distributions · TradingView
What $10,000 invested is worth now
$10,000 put into DACE 1 year ago is worth $10,493 today, against $10,155 in MQAE. That is $338 more in DACE.
Total returns to 30 September 2026, with distributions reinvested, before tax and brokerage. The price chart above leaves out distributions, so it can look worse. Past performance is not a reliable indicator of future performance.
What the fees cost you
MQAE's lower fee leaves about $17,593 more in your pocket over 20 years.
Total fees paid on a $100,000 investment, assuming a 7% a year return before fees. Illustration only: it ignores tax, brokerage and differences in returns.
Get the full DACE vs MQAE report
- Every holding of each ETF: the top 50 companies, with sectors and countries
- Exactly which companies they share, and how much of each
- Fees in dollars over 10, 20 and 30 years
- Every metric side by side, including the index each tracks
- ★ FREE BONUSIs now a good time to invest? The Market Health-O-Meter
FAQs
Which is better, DACE or MQAE?
It depends on what you need. On our numbers DACE wins on 4 measures and MQAE on 2. MQAE is cheaper, with a management fee of 0.03% vs 0.28%. On $100,000 over 20 years that difference is worth about $17,593. DACE is the larger fund at $7.2bn vs $1.3bn. DACE has the better 1-year return: +4.9% vs +1.6%.
Which is cheaper, DACE or MQAE?
DACE charges 0.28% a year and MQAE charges 0.03% a year.
Can I hold both DACE and MQAE?
You can, but check how much they overlap. DACE is a Australian shares fund and MQAE is a Australian shares fund.
More comparisons
General information only, not a recommendation. Past performance is not a reliable indicator of future performance.