IOZ vs MQAE: Which ETF Is Better?
A side-by-side comparison of fees, size, returns and holdings, using data to 30 September 2026.
IOZ comes out ahead on 5 of 7 measures. Which matters most depends on you.
The short answer
Worth about $1,436 on $100,000 over 20 years.
Bigger funds usually trade more cheaply and are less likely to close.
A tighter gap between the buy and sell price.
IOZ vs MQAE side by side
| IOZ leads on 5, MQAE on 2 | IOZiShares Core S&P/ASX 200 ETF | MQAEMacquarie Core Australian Equity Active ETF |
|---|---|---|
| The basics | ||
| Index tracked | S&P/ASX 200 Index | See the PDS |
| Fund manager | iShares | Macquarie |
| Asset class | Australian shares | Australian shares |
| Listed | Dec 2010 | May 2024 |
| Cost and size | ||
| MERyearly fee, lower is better | 0.05% | 0.03%✓ |
| AUMfund size | $9.7bn✓ | $1.3bn |
| Net flows (Sep)new money in, last month | $321m✓ | $63m |
| Bid/ask spreadtrading cost, lower is better | 0.04%✓ | 0.11% |
| Total returns | ||
| 1 month | −2.4% | −1.7%✓ |
| 1 year | +2.6%✓ | +1.6% |
| 3 years p.a. | +10.8% | – |
| 5 years p.a. | +6.8% | – |
| $10,000 invested | ||
| 1 year ago | $10,262✓ | $10,155 |
| 5 years ago | $13,895 | – |
✓ marks the better figure on each measure. Returns include distributions, to 30 September 2026.
IOZ 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
Only IOZ has a 5 years record: $10,000 then is worth $13,895 today.
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 $1,436 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 IOZ 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, IOZ or MQAE?
It depends on what you need. On our numbers IOZ wins on 5 measures and MQAE on 2. MQAE is cheaper, with a management fee of 0.03% vs 0.05%. On $100,000 over 20 years that difference is worth about $1,436. IOZ is the larger fund at $9.7bn vs $1.3bn. IOZ has the better 1-year return: +2.6% vs +1.6%.
Which is cheaper, IOZ or MQAE?
IOZ charges 0.05% a year and MQAE charges 0.03% a year.
Can I hold both IOZ and MQAE?
You can, but check how much they overlap. IOZ 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.