Longwave Australian Small Companies Fund Active ETF (WAVE) Review & Analysis
- 🆕 New fund: listed in October 2026.
About WAVE
WAVE is a new Australian shares ETF from Longwave (Pinnacle), listed on the ASX on 14 October 2026. An active fund holding about 100 to 120 small ASX companies, using a quality screen plus research to find growing, profitable businesses that fund growth from their own cash flow.
At the end of October 2026 it held $52m. Its size suggests an existing unlisted fund that has added an ETF version. Source: ASX monthly investment products report.
The management fee is 0.89% a year, about $89 on every $10,000 invested, dearer than the typical Australian shares ETF at 0.35%. It listed after our latest data (30 September 2026), so its size, flows and returns will appear once it's in the next TMX Australia funds report.
Compare WAVE with
| Fee | 0.89% | 0.30% |
| 1 year | – | −0.1% |
| 5 yrs p.a. | – | +4.8% |
| Size | – | $1.2bn |
| Fee | 0.89% | 0.85% |
| 1 year | – | −1.4% |
| 5 yrs p.a. | – | – |
| Size | – | $638m |
| Fee | 0.89% | 0.39% |
| 1 year | – | +4.3% |
| 5 yrs p.a. | – | +4.7% |
| Size | – | $369m |
| Fee | 0.89% | 0.49% |
| 1 year | – | −2.1% |
| 5 yrs p.a. | – | +2.3% |
| Size | – | $186m |
WAVE price by TradingView
| Stock Code | WAVE |
|---|---|
| Fund Manager | Longwave (Pinnacle) |
| Asset Class | Australian shares |
| AUM | – |
| MER (%) | 0.89% |
| Net flows (Sep) | – |
| Last Price | – |
| 52-Week Range | – |
| Bid/Ask Spread | – |
| Listing Date | 14/10/2026 |
| Exchange | ASX |
| Index | None: actively managed. See the PDS for its benchmark |
Performance (% return)
Not enough history yet.
Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.
etf