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MVE.AX vs. MONY.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVE.AX vs. MONY.AX

Last updated Jul 18, 2026
Documentation

MVE.AX (VanEck S&P/ASX MidCap ETF) and MONY.AX (VanEck Cash Plus Active ETF) are both exchange-traded funds - MVE.AX is a Mid Cap Blend Equities fund tracking the VanEck S&P/ASX MidCap Index, while MONY.AX is a Money Market fund actively managed by VanEck. MVE.AX is passively managed, while MONY.AX is actively managed. At a 0.11 correlation, their price movements are largely independent.

Performance

MVE.AX vs. MONY.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 Cash Plus Active ETF (MONY.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

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%

MONY.AX

1D
-0.04%
1M
0.32%
6M
—
YTD
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)
MVE.AX
VanEck S&P/ASX MidCap ETF		-5.13%
MONY.AX
VanEck Cash Plus Active ETF		1.69%

Correlation

The correlation between MVE.AX and MONY.AX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (All Time)
Calculated using the full available price history since Feb 5, 2026

0.11

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VanEck S&P/ASX MidCap ETF

VanEck Cash Plus Active ETF

Often compared with MVE.AX:
MVE.AX vs. CETF.AXMVE.AX vs. CNEW.AXMVE.AX vs. FLOT.AXMVE.AX vs. GDX.AXMVE.AX vs. GRNV.AXMVE.AX vs. MVR.AXMVE.AX vs. QHAL.AX
Often compared with MONY.AX:
MONY.AX vs. CETF.AXMONY.AX vs. CNEW.AXMONY.AX vs. FLOT.AXMONY.AX vs. GDX.AXMONY.AX vs. GRNV.AXMONY.AX vs. MVR.AXMONY.AX vs. QHAL.AX

Return for Risk

MVE.AX vs. MONY.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: 1010
Overall Rank
MVE.AX Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
MVE.AX Sortino Ratio Rank: 1010
Sortino Ratio Rank
MVE.AX Omega Ratio Rank: 1010
Omega Ratio Rank
MVE.AX Calmar Ratio Rank: 1111
Calmar Ratio Rank
MVE.AX Martin Ratio Rank: 1111
Martin Ratio Rank
MONY.AX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MONY.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 Cash Plus Active ETF (MONY.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.AXMONY.AXDifference
Sharpe ratioReturn per unit of total volatility
0.01

—

—

Sortino ratioReturn per unit of downside risk
0.14

—

—

Omega ratioGain probability vs. loss probability

1.02

—

—

Calmar ratioReturn relative to maximum drawdown

0.01

—

—

Martin ratioReturn relative to average drawdown

0.03

—

—

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

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Drawdowns

MVE.AX vs. MONY.AX - Drawdown Comparison

The maximum MVE.AX drawdown since its inception was -53.11%, which is greater than MONY.AX's maximum drawdown of -0.32%. Use the drawdown chart below to compare losses from any high point for MVE.AX and MONY.AX.

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Drawdown Indicators

MVE.AXMONY.AXDifference

Max Drawdown

Largest peak-to-trough decline

-53.11%

-0.32%

-52.79%

Max Drawdown (1Y)

Largest decline over 1 year

-15.88%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-17.45%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-20.77%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-40.47%

—

—

Current Drawdown

Current decline from peak

-9.00%

-0.04%

-8.96%

Average Drawdown

Average peak-to-trough decline

-12.59%

-0.05%

-12.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.69%

—

—

Volatility

MVE.AX vs. MONY.AX - Volatility Comparison

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Volatility by Period

MVE.AXMONY.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.54%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

14.00%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

16.86%

0.94%

+15.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.44%

0.94%

+15.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.77%

0.94%

+15.83%

Dividends

MVE.AX vs. MONY.AX - Dividend Comparison

MVE.AX's dividend yield for the trailing twelve months is around 1.49%, which matches MONY.AX's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
MONY.AX
VanEck Cash Plus Active ETF		1.48%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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

MVE.AX and MONY.AX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MVE.AX is categorized as Mid Cap Blend Equities, while MONY.AX is Money Market.

Portfolio Optimizer

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