VanEck Cash Plus Active ETF (MONY) — Review & Analysis

MONY is VanEck's actively managed cash-plus product, launched at a market-leading 0.15% p.a. fee — 3bp cheaper than MMKT (0.18%) and substantially cheaper than MQIO (0.49%) in the active cash-plus segment. AUM is reported as $0.00M as at May 2026 in the platform feed, reflecting an early-stage data gap on the ETF wrapper rather than no underlying investor flows. Compare MONY across the full cohort on our high interest cash ETF page.

The fund targets the RBA cash rate plus a modest premium through active allocation across bank deposits, bank bills, term deposits and short-dated investment-grade credit. Average duration stays short — typically under 12 months — and credit exposure is limited to investment-grade Australian issuers. The structural design positions MONY as a yield-enhancement product over pure cash without taking meaningful interest rate or credit risk.

The MONY vs MMKT comparison is the central choice for investors at the lower end of the cash-plus segment. Both target the same yield outcome (cash rate + 20-50bp) using similar instruments and similar duration. The differentiators are fee (MONY 3bp cheaper) and issuer brand (VanEck vs Betashares). For cost-conscious investors comfortable with VanEck's track record in active fixed income, MONY is the cheaper option; for those preferring Betashares' larger AUM and distribution scale, MMKT may be the better fit.

For investors who want incremental yield over AAA or BILL without taking on the larger duration and credit footprint of MQIO, MONY offers a low-cost active alternative at the cheapest fee in the cash-plus segment. Our best cash ETFs guide compares MONY directly against MMKT and MQIO on historical yield and structure.