Magellan Infra Fund (Currency Hedged) - Active ETF (MICH) Review & Analysis

MER · #470 of 514AUM · Top 50%1Y Return · Top 50%3Y Return · Top 50%5Y Return · #124 of 225

What's new this monthData to 30 September 2026

−4.9% in September (total return), behind the median property & infrastructure ETF at −3.9%.
Investors withdrew a net $1.3m (-0.3% of the fund).
The unit price closed the month at $2.89, near its 12-month low (range $2.89 to $3.54).

About MICH

MICH is a property & infrastructure ETF from Magellan, listed on the ASX since July 2016. With $426m under management it is number 17 of 19 property & infrastructure ETFs by size. The management fee is 1.06% a year, about $106 on every $10,000 invested, dearer than the typical property & infrastructure ETF at 0.47%.

Over five years it has returned +5.2% a year including distributions, against +2.5% for the median property & infrastructure ETF. With its focus on property, infrastructure, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

MICH distributions and dividend dates

The latest distribution was $0.35 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 21 July 2026. To receive it you need to own MICH before the ex-date.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare MICH Check overlap Magellan website ↗

Compare MICH with

MICHvsIFRA

VanEck FTSE Global Infrastructure (AUD Hedged) ETF

Fee	1.06%	0.20%
1 year	+5.7%	+5.3%
5 yrs p.a.	+5.2%	+5.3%
Size	$426m	$2.1bn

Same holdingsNo holdings data

Full comparison →

MICHvsGLIN

iShares Core FTSE Global Infrastructure (AUD Hedged) ETF

Fee	1.06%	0.15%
1 year	+5.7%	+5.7%
5 yrs p.a.	+5.2%	–
Size	$426m	$1.9bn

Same holdingsNo holdings data

Full comparison →

MICHvsCIIH

CB Global Infrastructure Income (Hedged) Active ETF

Fee	1.06%	1.02%
1 year	+5.7%	+10.5%
5 yrs p.a.	+5.2%	–
Size	$426m	$1.4bn

Same holdingsNo holdings data

Full comparison →

MICHvsCIVH

CB GLBL Infrastructure Value (Hedged) Active ETF

Fee	1.06%	1.02%
1 year	+5.7%	+9.6%
5 yrs p.a.	+5.2%	–
Size	$426m	$1.0bn

Same holdingsNo holdings data

Full comparison →

MICH price by TradingView

Stock Code	MICH
Fund Manager	Magellan
Asset Class	Property & infrastructure
AUM	$426m
MER (%)	1.06%
Net flows (Sep)	−$1.3m
Last Price	$2.89
52-Week Range	$2.89 – $3.54
Bid/Ask Spread	0.39%
Listing Date	22/07/2016
Exchange	ASX
Index	None: actively managed. See the PDS for its benchmark
Issuer website	Magellan ↗

Performance (% return)

1 month−4.9%

1 year+5.7%

3 years p.a.+11.8%

5 years p.a.+5.2%

$10,000 invested…

1 year ago$10,5663 years ago$13,9835 years ago$12,907

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.

MICH at a glance: strengths and things to watch

👍 Strengths

Ahead of its peers. +5.2% a year over 5 years, against +2.5% for the median property & infrastructure ETF.
Long track record. Listed since 2016, through several market cycles.

⚠️ Things to watch

Higher fee. At 1.06% a year it costs more than 95% of property & infrastructure ETFs (median 0.47%), or about $59 a year more on every $10,000.
Wider trading spread. 0.39% between the buy and sell price. Use a limit order.

Worked out from MICH's fees, size, flows, returns and trend against the 20 property & infrastructure ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 16 Oct 2026

MICH is in a base. Here's why that matters.

MICH's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 9.1% below its 12-month high.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

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.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

UptrendBaseDowntrend

MICH weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Themes & Sectors

Currency hedged Active ETFs Property Infrastructure

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
IFRA	VanEck FTSE Global Infrastructure (AUD Hedged) ETF Currency hedged	–	0.20%	$2.1bn	+5.3%	+12.1%	+5.3%
GLIN	iShares Core FTSE Global Infrastructure (AUD Hedged) ETF Currency hedged	–	0.15%	$1.9bn	+5.7%	+12.3%	–
CIIH	CB Global Infrastructure Income (Hedged) Active ETF Currency hedged	–	1.02%	$1.4bn	+10.5%	–	–
CIVH	CB GLBL Infrastructure Value (Hedged) Active ETF Currency hedged	–	1.02%	$1.0bn	+9.6%	–	–
REIT	VanEck FTSE International Property (AUD Hedged) ETF Currency hedged	–	0.20%	$798m	+6.4%	+8.9%	−0.5%
GLPR	iShares Core FTSE Global Property Ex Australia (AUD Hedged) ETF Currency hedged	–	0.15%	$695m	+6.3%	+8.7%	–

Same holdings is the share of MICH's money in companies the other ETF also holds, weighted by size. No other ETF shares much with MICH, so these are ETFs in the same category. See every ETF like MICH →

MICH vs its closest alternatives

What actually differs between MICH and the ETFs most like it. Data to 30 Sep 2026.

IFRA VanEck FTSE Global Infrastructure (AUD Hedged) ETF

IFRA is cheaper (0.20% vs 1.06%), worth about $55,654 on $100,000 over 20 years.
Over 3 years, a year: MICH +11.8%, IFRA +12.1% (almost identical).
IFRA is about 5 times larger ($2.1bn vs $426m), which usually means tighter trading spreads.

Full MICH vs IFRA comparison →

GLIN iShares Core FTSE Global Infrastructure (AUD Hedged) ETF

GLIN is cheaper (0.15% vs 1.06%), worth about $59,160 on $100,000 over 20 years.
Over 3 years, a year: MICH +11.8%, GLIN +12.3% (almost identical).
GLIN is about 4 times larger ($1.9bn vs $426m), which usually means tighter trading spreads.

Full MICH vs GLIN comparison →

CIIH CB Global Infrastructure Income (Hedged) Active ETF

CIIH is cheaper (1.02% vs 1.06%), worth about $2,403 on $100,000 over 20 years.
Over 1 year: MICH +5.7%, CIIH +10.5% (CIIH ahead by 4.9 percentage points).
CIIH is about 3 times larger ($1.4bn vs $426m), which usually means tighter trading spreads.

Full MICH vs CIIH comparison →

General information only. Past performance is not a reliable indicator of future performance.

Popular comparisons

IFRA vs MICH GLIN vs MICH CIIH vs MICH

MICH FAQs

What is the fee for MICH?

MICH charges a management fee (MER) of 1.06% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is MICH?

MICH had $426m in funds under management as at 30 September 2026.

How has MICH performed?

MICH returned +5.7% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +11.8% a year. Past performance is not a reliable indicator of future performance.

Who manages MICH?

MICH is managed by Magellan and has been listed since July 2016.

Is MICH currency hedged?

Yes. MICH is currency hedged, so changes in the Australian dollar have little effect on its returns. You get the return of the underlying investments in their local currency, less a small cost of hedging.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Magellan product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.