VAS and MVW overlap by about 47%: there is a fair amount of double-up. VAS is cheaper (0.07% vs 0.35% a year), about $280 a year less on $100,000. VAS is the bigger fund ($26.7b vs $3.3b). VAS weights about 300 ASX companies by size, so the big banks and BHP make up a large share. MVW holds a smaller list of large ASX companies in roughly equal weights, for a higher fee.
📅 As at 30 September 2026: fees, size, flows and returns from the TMX Australia funds report; overlap from published holdings as at 30 September 2026.
VAS
Vanguard Australian Shares Index ETFVAS invests in around 300 of the largest companies listed on the ASX, weighted by size.
MVW
VanEck Australian Equal Weight ETFMVW invests in around 75 large ASX companies, giving each roughly the same weight rather than weighting by size.
VAS vs MVW side by side
Green marks the cheaper, bigger or better-performing fund on each line. Past returns are not a reliable guide to the future.
| VAS | MVW | |
|---|---|---|
| Issuer | Vanguard | VanEck |
| Index | S&P/ASX 300 Index | MVIS Australia Equal Weight Index |
| Fee (a year) | 0.07% | 0.35% |
| Size | $26.7b | $3.3b |
| Net money in, September | +$449m | −$21m |
| 1-year return | +2.2% | +0.8% |
| 5-year return | +37% | +36% |
| Listed | 2009 | 2014 |
| Top 10 holdings | 47% of fund | 16% of fund |
| Trend now | Base | Uptrend |
How much do VAS and MVW overlap?
About 47% of their holdings are the same, by weight: medium overlap, so there is a fair amount of double-up.
The biggest companies they both own
| Company | VAS | MVW |
|---|---|---|
| CSL LtdHealth Care | 3.2% | 1.5% |
| ANZ Group Holdings LtdFinancials | 4.2% | 1.5% |
| National Australia Bank LtdFinancials | 4.4% | 1.4% |
| Commonwealth Bank of AustraliaFinancials | 9.2% | 1.4% |
| Westpac Banking CorpFinancials | 4.4% | 1.4% |
| Wesfarmers LtdConsumer Discretionary | 3.2% | 1.4% |
| Telstra Group LtdCommunication Services | 2.0% | 1.4% |
| Woolworths Group LtdConsumer Staples | 1.7% | 1.4% |
| Macquarie Group LtdFinancials | 3.1% | 1.3% |
| Woodside Energy Group LtdEnergy | 2.2% | 1.3% |
Only in VAS
- ResMed Inc 0.7%
Only in MVW
- No holdings above 0.5%: the differences are all small positions.
Sectors and countries
Sectors
Countries
Trend: base, uptrend or downtrend?
Past year of prices, shaded by trend stage. The dashed line is the 200-day exponential average. As at 4 November 2026. How base and trend works.
VAS or MVW: which suits who?
Where either fits depends on the rest of your portfolio: whether it’s your core or a satellite. See core and satellite investing and our full profiles of VAS and MVW.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
VAS vs MVW FAQs
Is VAS or MVW better?
Neither is better for everyone. VAS weights about 300 ASX companies by size, so the big banks and BHP make up a large share. MVW holds a smaller list of large ASX companies in roughly equal weights, for a higher fee. Choose VAS if you want the broad Australian market at a very low fee. Choose MVW if you want less concentration in the biggest banks and miners.
What is the difference between VAS and MVW?
VAS and MVW overlap by about 47%: there is a fair amount of double-up. VAS is cheaper (0.07% vs 0.35% a year), about $280 a year less on $100,000. VAS is the bigger fund ($26.7b vs $3.3b). VAS weights about 300 ASX companies by size, so the big banks and BHP make up a large share. MVW holds a smaller list of large ASX companies in roughly equal weights, for a higher fee.
Should I own both VAS and MVW?
You can, but check the double-up: about 47% of their holdings are the same. Use the overlap calculator to see how they fit with your other ETFs.
Which is cheaper, VAS or MVW?
VAS is cheaper (0.07% vs 0.35% a year), about $280 a year less on $100,000. Fees are taken from the fund’s returns, not charged separately.
Fees, size, flows and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns and the 5-year figure is cumulative. Overlap, sectors and countries are based on each fund’s published holdings, scaled to the part of each fund we can see. Trend stages are a technical indicator based on 10, 20, 50 and 200-day exponential moving averages; they describe the past, not the future. General information only, not a recommendation to buy or sell VAS or MVW. Consider the PDS and TMD, and your own circumstances, before investing.