VanEck MSCI International Small Companies Quality (AUD Hedged) ETF (QHSM) Review & Analysis

MER · #361 of 514AUM · Top 50%1Y Return · Top 50%

What's new this monthData to 30 September 2026

−3.2% in September (total return), behind the median international shares ETF at +0.0%.
The unit price closed the month at $32.99, 7% below its 12-month high (range $29.94 to $35.36).

About QHSM

QHSM is an international shares ETF from VanEck, listed on the ASX since November 2023. With $262m under management it is number 93 of 254 international shares ETFs by size. The management fee is 0.62% a year, about $62 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Its largest holdings are Exelixis Inc, Manhattan Associates Inc and Medpace Holdings Inc, and the top 10 make up 14% of the fund. By sector it leans towards industrials (34%) and financials (22%). United States is the biggest country exposure at 79%.

Over the past year it returned +4.2%, against +10.4% for the median international shares ETF.

QHSM distributions and dividend dates

QHSM pays distributions yearly, usually going ex-distribution in July, with payment about 28 days after the ex-date. (Pattern estimated from recent payments.)

The latest distribution was $0.13 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 29 July 2026. To receive it you need to own QHSM before the ex-date.

Its distribution yield over the past 12 months is about 0.4%. 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 QHSM Check overlap VanEck website ↗

Compare QHSM with

QHSMvsQUAL

VanEck MSCI International Quality ETF

Fee	0.62%	0.40%
1 year	+4.2%	+10.1%
5 yrs p.a.	–	+11.4%
Size	$262m	$9.2bn

Same holdings0%No companies in common

Full comparison →

QHSMvsVGAD

Vanguard MSCI Index International Shares (Hedged) ETF

Fee	0.62%	0.21%
1 year	+4.2%	+17.1%
5 yrs p.a.	–	+10.8%
Size	$262m	$7.9bn

Same holdings0%No companies in common

Full comparison →

QHSMvsQHAL

VanEck MSCI International Quality (AUD Hedged) ETF

Fee	0.62%	0.43%
1 year	+4.2%	+16.5%
5 yrs p.a.	–	+9.7%
Size	$262m	$2.7bn

Same holdings0%No companies in common

Full comparison →

QHSMvsQSML

VanEck MSCI International Small Companies Quality ETF

Fee	0.62%	0.59%
1 year	+4.2%	−1.4%
5 yrs p.a.	–	+7.1%
Size	$262m	$1.6bn

Same holdings100%Near identical

Full comparison →

QHSM price by TradingView

Stock Code	QHSM
Fund Manager	VanEck
Asset Class	International shares
AUM	$262m
MER (%)	0.62%
Net flows (Sep)	$0.0m
Last Price	$32.99
52-Week Range	$29.94 – $35.36
Bid/Ask Spread	0.16%
Listing Date	09/11/2023
Exchange	ASX
Index tracked	MSCI World ex Australia Small Cap Quality 150 Index (hedged)
Issuer website	VanEck ↗

Performance (% return)

1 month−3.2%

1 year+4.2%

3 years p.a.–

5 years p.a.–

$10,000 invested…

1 year ago$10,422

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.

QHSM at a glance: strengths and things to watch

👍 Strengths

Nothing stands out against its category.

⚠️ Things to watch

Short track record. Listed in November 2023, so it hasn't been tested through a full market cycle.

Worked out from QHSM's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 25 Aug 2026

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

QHSM's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 9.6% 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

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

💡 Cheaper twin

QSML holds 100% of the same companies as QHSM for 0.03% a year less, which is $30 a year on $100,000. See all cheaper alternatives to QHSM →

Investment Focus

Themes & Sectors

Currency hedged

Portfolio Breakdown

Top 10 holdings (14.3% of the fund)

Symbol	Company	% assets
EXEL		1.64%
MANH		1.57%
MEDP		1.56%
WWD		1.53%
RGLD		1.46%
EWBC		1.45%
ITT		1.43%
LECO		1.42%
BJ		1.13%
TOL		1.13%

Sector breakdown

Industrials34.4%
Financials22.0%
Health Care11.3%
Information Technology9.1%
Consumer Discretionary7.4%
Materials5.8%
Utilities3.2%
Communication Services3.0%
Other3.7%

Country breakdown

United States79.5%
United Kingdom5.3%
Japan4.5%
Canada2.2%
SE2.1%
IL1.4%
France1.2%
Switzerland1.1%
Other2.7%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 146 positions, covering 100% of the fund. Compare QHSM'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.
QSML	VanEck MSCI International Small Companies Quality ETF	100%	0.59%	$1.6bn	−1.4%	+10.4%	+7.1%
IJH	iShares S&P Midcap ETF	23%	0.07%	$485m	+6.4%	+11.4%	+7.8%
QHAL	VanEck MSCI International Quality (AUD Hedged) ETF Currency hedged	0%	0.43%	$2.7bn	+16.5%	+17.8%	+9.7%
VISM	Vanguard MSCI International Small Companies Index ETF	9%	0.32%	$952m	+10.4%	+14.5%	+6.6%
HVLU	VanEck MSCI International Value (AUD Hedged) ETF Currency hedged	0%	0.43%	$164m	+57.8%	–	–
IHQL	iShares MSCI World ex Australia Quality (AUD Hedged) ETF Currency hedged	0%	0.28%	$2.4m	+16.6%	–	–

Same holdings is the share of QHSM'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 QHSM →

QHSM vs its closest alternatives

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

QSML VanEck MSCI International Small Companies Quality ETF

They share 100% of their holdings: largely the same companies.
QSML is cheaper (0.59% vs 0.62%), worth about $1,948 on $100,000 over 20 years.
Over 1 year: QHSM +4.2%, QSML −1.4% (QHSM ahead by 5.6 percentage points).
QSML is about 6 times larger ($1.6bn vs $262m), which usually means tighter trading spreads.
Different structure: QHSM is currency hedged, QSML is a standard fund.

Full QHSM vs QSML comparison →

IJH iShares S&P Midcap ETF

They share 23% of their holdings: some overlap.
IJH is cheaper (0.07% vs 0.62%), worth about $37,428 on $100,000 over 20 years.
Over 1 year: QHSM +4.2%, IJH +6.4% (IJH ahead by 2.2 percentage points).
Different structure: QHSM is currency hedged, IJH is a standard fund.

Compare QHSM and IJH side by side →

QHAL VanEck MSCI International Quality (AUD Hedged) ETF

They share 0% of their holdings: mostly different companies.
QHAL is cheaper (0.43% vs 0.62%), worth about $12,517 on $100,000 over 20 years.
Over 1 year: QHSM +4.2%, QHAL +16.5% (QHAL ahead by 12.3 percentage points).
QHAL is much larger ($2.7bn vs $262m), which usually means tighter trading spreads.

Full QHSM vs QHAL comparison →

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

Popular comparisons

QUAL vs QHSM VGAD vs QHSM QHAL vs QHSM QSML vs QHSM VISM vs QHSM

QHSM FAQs

What is the fee for QHSM?

QHSM charges a management fee (MER) of 0.62% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is QHSM?

QHSM had $262m in funds under management as at 30 September 2026.

How has QHSM performed?

QHSM returned +4.2% over the year to 30 September 2026 (total return, including distributions). Past performance is not a reliable indicator of future performance.

Who manages QHSM?

QHSM is managed by VanEck and has been listed since November 2023.

Is QHSM franked?

Generally no. QHSM invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does QHSM hold?

QHSM's largest holdings are Exelixis Inc (1.6%), Manhattan Associates Inc (1.6%), Medpace Holdings Inc (1.6%), Woodward Inc (1.5%), Royal Gold Inc (1.5%). It holds about 146 investments in total. The biggest sector is industrials at 33%. Holdings as at 30 October 2026.

Is QHSM currency hedged?

Yes. QHSM 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.

Is there a cheaper alternative to QHSM?

Yes. QSML (VanEck MSCI International Small Companies Quality ETF) holds about 100% of the same companies and charges 0.59% a year, against 0.62% for QHSM. Note that QSML is not currency hedged, so its returns will differ when the Australian dollar moves. Check the index and size before switching, and remember selling may trigger capital gains tax.

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.