Home/Property / REITs/MVA

MVA

$21.60-2.17%Property / REITs56/100
Fund Page ↗

VanEck Australian Property ETF · VanEck

Data as at 29 March 2026

TL;DR

Tracks Australian REITs on an equal-weighted basis rather than market-cap weighted. Goodman Group receives approximately 8-10% instead of the 36% it has in VAP.

MER (Annual Fee)
0.35%
#3 lowest in Property / REITs
1Y Return
-0.9%
3Y Return (p.a.)
+7.0%
Dividend Yield
3.91%
Trailing 12 months
AUM
$830.6M
Assets under management
Avg Daily Turnover
$2.3M
Avg shares × unit price
Unit Price
$21.60
As at 29 March 2026
Provider
VanEck
Loading chart…

Strategy

Uses VanEck's MVIS equal-weight index for Australian REITs, rebalancing quarterly. Each REIT receives approximately equal weight at each rebalance date regardless of its market cap.

Top Holdings

Key Fact

VAP gives Goodman Group a 36% weight due to its market cap. MVA caps it at approximately 8%. Over the last decade, this caused VAP to outperform MVA — because Goodman was the dominant performer and VAP captured its full share-price growth without trimming it.

Suited for

Investors who want A-REIT exposure but are uncomfortable with Goodman Group representing over a third of the portfolio. Equal weighting provides a more balanced exposure across different property types.

Risks

When Goodman Group significantly outperforms (as it has for a decade), MVA will lag VAP because Goodman is continuously trimmed back to equal weight at each quarterly rebalance.

ETFCheck Score56/100
Fees (40%)48
Fund Size (25%)45
Liquidity (20%)67
Yield (15%)85
How scores are calculated →
Other Property / REITs ETFs
VAP
0.23% MER
63
REIT
0.29% MER
59
SLF
0.40% MER
51
DJRE
0.43% MER
39View all Property / REITs ETFs →

Frequently Asked Questions - MVA

How does MVA's equal-weighting methodology reduce concentration risk compared to VAP?+
MVA rebalances holdings to roughly equal weights, capping Goodman Group's dominance that inflates VAP to approximately 27% in a single stock. This gives MVA materially higher exposure to retail landlords like Scentre Group and office REITs like Dexus, creating genuine sector diversification. While MVA's MER of 0.35% exceeds VAP's 0.23%, investors who believe traditional property fundamentals - rents, occupancy, cap rates - matter more than logistics growth may find the premium worthwhile for reduced single-stock risk.
Why has MVA underperformed VAP despite offering better diversification?+
MVA's one-year return of 15.4% trails VAP's 16.2% primarily because equal-weighting reduces exposure to Goodman Group, which has been the standout ASX REIT performer driven by data centre and logistics tailwinds. In periods where one dominant stock surges, cap-weighted funds will always outperform equal-weighted alternatives. However, if Goodman's growth slows or reverses, MVA's diversified approach should demonstrate lower drawdowns - making it potentially better suited for conservative SMSF investors prioritising capital preservation alongside income.
What type of Australian investor is MVA best suited for?+
MVA suits investors who want genuine diversification across Australian property sectors including retail, office, and industrial without one company dominating returns. Its 4.42% yield - the highest among ASX-listed REIT ETFs - appeals to retirees and SMSF pension-phase members seeking income. The equal-weight structure also benefits contrarian investors, as underperforming REITs receive proportionally larger allocations at each rebalance, creating a systematic buy-low discipline that cap-weighted rivals like VAP and SLF cannot replicate.
Does MVA's higher yield reflect greater risk or better income characteristics?+
MVA's 4.42% distribution yield exceeds VAP's 4.15% largely because equal-weighting tilts the portfolio toward higher-yielding retail and office REITs that trade at lower valuations than Goodman Group. This isn't necessarily higher risk - it reflects different sector composition rather than leverage or credit concerns. However, investors should note that retail and office properties face structural headwinds from e-commerce and hybrid working, so MVA's income advantage could narrow if those sectors experience tenant vacancies or rental downgrades.