Munro Global Growth Fund Complex ETF (MAET) Review & Analysis
MER · #507 of 514AUM · Top 50%1Y Return · #247 of 4263Y Return · Top 25%5Y Return · Top 50%
What's new this monthData to 30 September 2026
+0.2% in September (total return), in line with the median international shares ETF at +0.0%.
Investors added a net $9.2m (2.5% of the fund).
The unit price closed the month at $5.23, 28% below its 12-month high (range $4.99 to $7.24).
About MAET
MAET is an international shares ETF from Munro, listed on the ASX since November 2020. With $374m under management it is number 78 of 254 international shares ETFs by size. The management fee is 1.35% a year, about $135 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.
Over five years it has returned +8.1% a year including distributions, against +8.8% for the median international shares ETF.
MAET distributions and dividend dates
The latest distribution was $1.156 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 22 July 2026. To receive it you need to own MAET before the ex-date.
From ASX announcements, updated nightly. See every ETF in the dividend calendar.
1 year ago$10,2183 years ago$17,0545 years ago$14,741
Value at 30 September 2026 with distributions reinvested, before tax and brokerage.
Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.
MAET at a glance: strengths and things to watch
👍 Strengths
Nothing stands out against its category.
⚠️ Things to watch
Higher fee. At 1.35% a year it costs more than 98% of international shares ETFs (median 0.55%), or about $80 a year more on every $10,000.
In a downtrend. Its price has been trending down since 21 October (as at 7 November).
Worked out from MAET's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.
MAET's price is below its 20-day average and its averages are stacked downward.
Why it matters: Downtrends can run for months, and that is where most big losses happen. For satellite holdings, waiting in cash until the trend turns has often been the better choice.
At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.
MAET weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.
MAET vs its benchmark
How MAET has done against the MSCI All Country World Index (net, AUD), after fees. For an active fund, this shows whether the manager has added value after fees.
Same holdings is the share of MAET's money in companies the other ETF also holds, weighted by size. No other ETF shares much with MAET, so these are ETFs in the same category. See every ETF like MAET →
MAET vs its closest alternatives
What actually differs between MAET and the ETFs most like it. Data to 30 Sep 2026.
MAET charges a management fee (MER) of 1.35% a year, according to the TMX Australia monthly funds report as at 30 September 2026.
How big is MAET?
MAET had $374m in funds under management as at 30 September 2026.
How has MAET performed?
MAET returned +2.2% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +19.5% a year. Past performance is not a reliable indicator of future performance.
Who manages MAET?
MAET is managed by Munro and has been listed since November 2020.
Is MAET franked?
Generally no. MAET invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.
Is MAET currency hedged?
No, MAET is unhedged. Its returns move with the Australian dollar: a falling dollar adds to returns and a rising dollar reduces them.
Disclaimer
This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Munro product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.
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