MVE.AX vs. MOAT.AX

Last updated Jul 18, 2026

MVE.AX (VanEck S&P/ASX MidCap ETF) and MOAT.AX (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - MVE.AX is a Mid Cap Blend Equities fund tracking the VanEck S&P/ASX MidCap Index, while MOAT.AX is a Global Equities fund tracking the VanEck Morningstar Wide Moat Index. Both are passively managed. Over the past 10 years, MVE.AX returned 8.82%/yr vs 14.14%/yr for MOAT.AX. At a 0.39 correlation, their price movements are largely independent.

Performance

MVE.AX vs. MOAT.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck S&P/ASX MidCap ETF (MVE.AX) and VanEck Morningstar Wide Moat ETF (MOAT.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVE.AX achieves a -6.10% return, which is significantly lower than MOAT.AX's -1.90% return. Over the past 10 years, MVE.AX has underperformed MOAT.AX with an annualized return of 8.82%, while MOAT.AX has yielded a comparatively higher 14.14% annualized return.

MVE.AX

• 1D: -1.14%
• 1M: -3.43%
• 6M: -7.79%
• YTD: -6.10%
• 1Y: 0.22%
• 3Y*: 7.09%
• 5Y*: 5.72%
• 10Y*: 8.82%

MOAT.AX

• 1D: 0.91%
• 1M: 4.30%
• 6M: -5.26%
• YTD: -1.90%
• 1Y: 5.43%
• 3Y*: 9.42%
• 5Y*: 9.70%
• 10Y*: 14.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MVE.AX vs. MOAT.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVE.AX VanEck S&P/ASX MidCap ETF	-6.10%	17.59%	10.85%	5.45%	-6.79%	20.90%	19.05%	22.94%	-8.17%	23.25%
MOAT.AX VanEck Morningstar Wide Moat ETF	-1.90%	5.68%	20.43%	30.52%	-7.38%	30.97%	3.35%	36.19%	9.68%	12.64%

Correlation

The correlation between MVE.AX and MOAT.AX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 24, 2015	0.39

The correlation between MVE.AX and MOAT.AX shifts across timeframes, from 0.32 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MVE.AX vs. MOAT.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MVE.AX

MVE.AX Risk / Return Rank: 10
MVE.AX Sharpe Ratio Rank: 11
MVE.AX Sortino Ratio Rank: 10
MVE.AX Omega Ratio Rank: 10
MVE.AX Calmar Ratio Rank: 11
MVE.AX Martin Ratio Rank: 11

MOAT.AX

MOAT.AX Risk / Return Rank: 16
MOAT.AX Sharpe Ratio Rank: 18
MOAT.AX Sortino Ratio Rank: 17
MOAT.AX Omega Ratio Rank: 16
MOAT.AX Calmar Ratio Rank: 15
MOAT.AX Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MVE.AX vs. MOAT.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck S&P/ASX MidCap ETF (MVE.AX) and VanEck Morningstar Wide Moat ETF (MOAT.AX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MVE.AX	MOAT.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.01	0.43	-0.41
Sortino ratio: Return per unit of downside risk	0.14	0.68	-0.55
Omega ratio: Gain probability vs. loss probability	1.02	1.08	-0.07
Calmar ratio: Return relative to maximum drawdown	0.01	0.34	-0.33
Martin ratio: Return relative to average drawdown	0.03	0.70	-0.67

MVE.AX vs. MOAT.AX - Sharpe Ratio Comparison

The current MVE.AX Sharpe Ratio is 0.01, which is lower than the MOAT.AX Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of MVE.AX and MOAT.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MVE.AX vs. MOAT.AX - Drawdown Comparison

The maximum MVE.AX drawdown since its inception was -53.11%, which is greater than MOAT.AX's maximum drawdown of -23.63%. Use the drawdown chart below to compare losses from any high point for MVE.AX and MOAT.AX.

Drawdown Indicators

	MVE.AX	MOAT.AX	Difference
Max Drawdown Largest peak-to-trough decline	-53.11%	-23.63%	-29.48%
Max Drawdown (1Y) Largest decline over 1 year	-15.88%	-15.16%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-17.45%	-19.11%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-20.77%	-19.11%	-1.66%
Max Drawdown (10Y) Largest decline over 10 years	-40.47%	-23.63%	-16.84%
Current Drawdown Current decline from peak	-9.00%	-5.26%	-3.74%
Average Drawdown Average peak-to-trough decline	-12.59%	-3.97%	-8.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.69%	7.59%	-0.90%

Volatility

MVE.AX vs. MOAT.AX - Volatility Comparison

VanEck S&P/ASX MidCap ETF (MVE.AX) and VanEck Morningstar Wide Moat ETF (MOAT.AX) have volatilities of 3.54% and 3.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVE.AX	MOAT.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.42%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	9.67%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.86%	12.27%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.44%	14.96%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	15.47%	+1.30%

Dividends

MVE.AX vs. MOAT.AX - Dividend Comparison

MVE.AX's dividend yield for the trailing twelve months is around 1.49%, less than MOAT.AX's 9.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT.AX VanEck Morningstar Wide Moat ETF	9.96%	5.78%	7.39%	6.87%	0.00%	0.00%	1.26%	1.12%	2.52%	0.00%	1.78%	3.30%
MVE.AX VanEck S&P/ASX MidCap ETF	1.49%	2.92%	1.78%	1.84%	2.35%	2.45%	3.99%	5.06%	1.22%	3.11%	0.46%	0.71%

Frequently Asked Questions

Can I hold both MVE.AX and MOAT.AX in my portfolio?

MVE.AX and MOAT.AX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between MVE.AX and MOAT.AX?

MVE.AX is categorized as Mid Cap Blend Equities, while MOAT.AX is Global Equities. MVE.AX tracks VanEck S&P/ASX MidCap Index, while MOAT.AX tracks VanEck Morningstar Wide Moat Index.