VanEck Small Companies Masters ETF (MVS) Review & Analysis

MER · #284 of 514AUM · Top 50%1Y Return · #340 of 4263Y Return · #168 of 3005Y Return · #168 of 225

What's new this monthData to 30 September 2026

−3.0% in September (total return), behind the median Australian shares ETF at −2.1%.
The unit price closed the month at $21.58, 12% below its 12-month high (range $18.99 to $24.52).

About MVS

MVS is an Australian shares ETF from VanEck, listed on the ASX since May 2015. With $186m under management it is number 42 of 81 Australian shares ETFs by size. The management fee is 0.49% a year, about $49 on every $10,000 invested, dearer than the typical Australian shares ETF at 0.35%.

Its largest holdings are Ingenia Communities Group, Australian Clinical Labs Ltd and IPH Ltd, and the top 10 make up 21% of the fund. By sector it leans towards materials (22%) and industrials (17%).

Over five years it has returned +2.3% a year including distributions, against +5.9% for the median Australian shares ETF.

MVS distributions and dividend dates

MVS pays distributions half-yearly, usually going ex-distribution in January and July, with payment about 26 days after the ex-date. (Pattern estimated from recent payments.)

The latest distribution was $0.27 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 27 July 2026. To receive it you need to own MVS before the ex-date.

Its distribution yield over the past 12 months is about 3.0%. Distributions vary and past payments are not a guide to future ones.

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

Compare MVS Check overlap VanEck website ↗

Compare MVS with

MVSvsFSML

Firetrail Australian Small Companies Fund – Active ETF

Fee	0.49%	0.85%
1 year	−2.1%	−1.4%
5 yrs p.a.	+2.3%	–
Size	$186m	$638m

Same holdingsNo holdings data

Full comparison →

MVSvsSMLL

Betashares Australian Small Companies Select ETF

Fee	0.49%	0.39%
1 year	−2.1%	+4.3%
5 yrs p.a.	+2.3%	+4.7%
Size	$186m	$369m

Same holdings32%Some overlap

Full comparison →

MVSvsVSO

Vanguard MSCI Australian Small Companies Index ETF

Fee	0.49%	0.30%
1 year	−2.1%	−0.1%
5 yrs p.a.	+2.3%	+4.8%
Size	$186m	$1.2bn

Same holdings13%Very different

Full comparison →

MVSvsWAVE

Longwave Australian Small Companies Fund Active ETF

Fee	0.49%	0.89%
1 year	−2.1%	–
5 yrs p.a.	+2.3%	–
Size	$186m	–

Same holdingsNo holdings data

Full comparison →

MVS price by TradingView

Stock Code	MVS
Fund Manager	VanEck
Asset Class	Australian shares
AUM	$186m
MER (%)	0.49%
Net flows (Sep)	$0.0m
Last Price	$21.58
52-Week Range	$18.99 – $24.52
Bid/Ask Spread	0.15%
Listing Date	28/05/2015
Exchange	ASX
Index tracked	MarketGrader Australia Small Cap 60 Index
Issuer website	VanEck ↗

Performance (% return)

1 month−3.0%

1 year−2.1%

3 years p.a.+9.8%

5 years p.a.+2.3%

$10,000 invested…

1 year ago$9,7883 years ago$13,2365 years ago$11,215

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.

MVS at a glance: strengths and things to watch

👍 Strengths

Long track record. Listed since 2015, through several market cycles.

⚠️ Things to watch

Behind its peers. +2.3% a year over 5 years, against +5.9% for the median Australian shares ETF.
In a downtrend. Its price has been trending down since 22 October (as at 7 November).

Worked out from MVS's fees, size, flows, returns and trend against the 83 Australian shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Downtrend since 22 Oct 2026

MVS is in a downtrend. Here's why that matters.

MVS's price is below its 20-day average and its averages are stacked downward. Its price is 18.0% below its 12-month high.

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.

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

MVS 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

Exposure Regions

Australia

Portfolio Breakdown

Top 10 holdings (20.6% of the fund)

Symbol	Company	% assets
INA		2.38%
ACL		2.15%
IPH		2.15%
PMV		2.14%
CKF		2.00%
CCL		1.98%
SIQ		1.97%
PNR		1.96%
ABB		1.92%
PWH		1.91%

Sector breakdown

Materials21.8%
Industrials17.5%
Consumer Discretionary15.2%
Financials14.4%
Energy8.9%
Communication Services6.8%
Real Estate4.1%
Consumer Staples3.8%
Other7.6%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 61 positions, covering 100% of the fund. Compare MVS's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
SMLL	Betashares Australian Small Companies Select ETF	32%	0.39%	$369m	+4.3%	+13.6%	+4.7%
ISO	iShares S&P/ASX Small Ordinaries ETF	26%	0.55%	$136m	−6.9%	+9.2%	+0.9%
SSO	State Street SPDR S&P/ASX Small Ordinaries ETF	26%	0.50%	$27m	−6.9%	+9.4%	+0.9%
VSO	Vanguard MSCI Australian Small Companies Index ETF	13%	0.30%	$1.2bn	−0.1%	+11.5%	+4.8%
FSML	Firetrail Australian Small Companies Fund – Active ETF Active	–	0.85%	$638m	−1.4%	–	–
WAVE	Longwave Australian Small Companies Fund Active ETF Active	–	0.89%	–	–	–	–

Same holdings is the share of MVS's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like MVS →

MVS vs its closest alternatives

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

SMLL Betashares Australian Small Companies Select ETF

They share 32% of their holdings: some overlap.
SMLL is cheaper (0.39% vs 0.49%), worth about $6,688 on $100,000 over 20 years.
Over 3 years, a year: MVS +9.8%, SMLL +13.6% (SMLL ahead by 3.8 percentage points).

Full MVS vs SMLL comparison →

ISO iShares S&P/ASX Small Ordinaries ETF

They share 26% of their holdings: some overlap.
MVS is cheaper (0.49% vs 0.55%), worth about $3,956 on $100,000 over 20 years.
Over 3 years, a year: MVS +9.8%, ISO +9.2% (MVS ahead by 0.6 percentage points).

Compare MVS and ISO side by side →

SSO State Street SPDR S&P/ASX Small Ordinaries ETF

They share 26% of their holdings: some overlap.
MVS is cheaper (0.49% vs 0.50%), worth about $662 on $100,000 over 20 years.
Over 3 years, a year: MVS +9.8%, SSO +9.4% (almost identical).
MVS is about 7 times larger ($186m vs $27m), which usually means tighter trading spreads.

Compare MVS and SSO side by side →

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

Popular comparisons

FSML vs MVS SMLL vs MVS

MVS FAQs

What is the fee for MVS?

MVS charges a management fee (MER) of 0.49% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is MVS?

MVS had $186m in funds under management as at 30 September 2026.

How has MVS performed?

MVS returned −2.1% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +9.8% a year. Past performance is not a reliable indicator of future performance.

Who manages MVS?

MVS is managed by VanEck and has been listed since May 2015.

What does MVS hold?

MVS's largest holdings are Ingenia Communities Group (2.4%), Australian Clinical Labs Ltd (2.1%), IPH Ltd (2.1%), Premier Investments Ltd (2.1%), Collins Foods Ltd (2.0%). It holds about 61 investments in total. The biggest sector is materials at 21%. Holdings as at 30 October 2026.

Disclaimer

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