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

MVE.AX vs. PLUS.AX

Last updated Jul 18, 2026
Documentation

MVE.AX (VanEck S&P/ASX MidCap ETF) and PLUS.AX (VanEck Australian Corporate Bond Plus ETF) are both exchange-traded funds - MVE.AX is a Mid Cap Blend Equities fund tracking the VanEck S&P/ASX MidCap Index, while PLUS.AX is a Corporate Bonds fund tracking the VanEck Australian Corporate Bond Plus Index. Both are passively managed. Over the past 5 years, MVE.AX returned 5.72%/yr vs 1.00%/yr for PLUS.AX. At a 0.11 correlation, their price movements are largely independent.

Performance

MVE.AX vs. PLUS.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 Australian Corporate Bond Plus ETF (PLUS.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MVE.AX achieves a -6.10% return, which is significantly lower than PLUS.AX's 1.09% 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%

PLUS.AX

1D
-0.06%
1M
0.03%
6M
0.73%
YTD
1.09%
1Y
1.55%
3Y*
5.42%
5Y*
1.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%14.53%
PLUS.AX
VanEck Australian Corporate Bond Plus ETF		1.09%5.01%5.49%7.67%-10.32%-2.09%5.51%8.91%2.97%2.77%

Correlation

The correlation between MVE.AX and PLUS.AX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.21

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (All Time)
Calculated using the full available price history since May 9, 2017

0.11

The correlation between MVE.AX and PLUS.AX shifts across timeframes, from 0.11 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck S&P/ASX MidCap ETF

VanEck Australian Corporate Bond Plus 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 PLUS.AX:
PLUS.AX vs. BANK.AXPLUS.AX vs. FLOT.AXPLUS.AX vs. HBRD.AXPLUS.AX vs. IHCB.AXPLUS.AX vs. RCB.AXPLUS.AX vs. VACF.AXPLUS.AX vs. CETF.AX

Return for Risk

MVE.AX vs. PLUS.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
PLUS.AX
PLUS.AX Risk / Return Rank: 1616
Overall Rank
PLUS.AX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
PLUS.AX Sortino Ratio Rank: 1616
Sortino Ratio Rank
PLUS.AX Omega Ratio Rank: 1616
Omega Ratio Rank
PLUS.AX Calmar Ratio Rank: 1616
Calmar Ratio Rank
PLUS.AX Martin Ratio Rank: 1515
Martin Ratio Rank
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. PLUS.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 Australian Corporate Bond Plus ETF (PLUS.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.AXPLUS.AXDifference
Sharpe ratioReturn per unit of total volatility
0.01
0.41

-0.40

Sortino ratioReturn per unit of downside risk
0.14
0.61

-0.47

Omega ratioGain probability vs. loss probability

1.02

1.07

-0.05

Calmar ratioReturn relative to maximum drawdown

0.01

0.39

-0.38

Martin ratioReturn relative to average drawdown

0.03

0.84

-0.80

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

The current MVE.AX Sharpe Ratio is 0.01, which is lower than the PLUS.AX Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of MVE.AX and PLUS.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.

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Drawdowns

MVE.AX vs. PLUS.AX - Drawdown Comparison

The maximum MVE.AX drawdown since its inception was -53.11%, which is greater than PLUS.AX's maximum drawdown of -16.54%. Use the drawdown chart below to compare losses from any high point for MVE.AX and PLUS.AX.

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Drawdown Indicators

MVE.AXPLUS.AXDifference

Max Drawdown

Largest peak-to-trough decline

-53.11%

-16.54%

-36.57%

Max Drawdown (1Y)

Largest decline over 1 year

-15.88%

-3.81%

-12.07%

Max Drawdown (3Y)

Largest decline over 3 years

-17.45%

-3.81%

-13.64%

Max Drawdown (5Y)

Largest decline over 5 years

-20.77%

-16.54%

-4.23%

Max Drawdown (10Y)

Largest decline over 10 years

-40.47%

—

—

Current Drawdown

Current decline from peak

-9.00%

-0.89%

-8.11%

Average Drawdown

Average peak-to-trough decline

-12.59%

-3.57%

-9.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.69%

1.82%

+4.87%

Volatility

MVE.AX vs. PLUS.AX - Volatility Comparison

VanEck S&P/ASX MidCap ETF (MVE.AX) has a higher volatility of 3.54% compared to VanEck Australian Corporate Bond Plus ETF (PLUS.AX) at 0.76%. This indicates that MVE.AX's price experiences larger fluctuations and is considered to be riskier than PLUS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MVE.AXPLUS.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.54%

0.76%

+2.78%

Volatility (6M)

Calculated over the trailing 6-month period

14.00%

2.70%

+11.30%

Volatility (1Y)

Calculated over the trailing 1-year period

16.86%

3.63%

+13.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.44%

5.27%

+11.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.77%

6.90%

+9.87%

Dividends

MVE.AX vs. PLUS.AX - Dividend Comparison

MVE.AX's dividend yield for the trailing twelve months is around 1.49%, less than PLUS.AX's 3.68% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
PLUS.AX
VanEck Australian Corporate Bond Plus ETF		3.68%4.15%3.44%2.99%3.06%2.20%2.42%3.41%2.57%0.94%0.00%0.00%

Frequently Asked Questions

MVE.AX and PLUS.AX have a correlation of 0.23, 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 PLUS.AX is Corporate Bonds. MVE.AX tracks VanEck S&P/ASX MidCap Index, while PLUS.AX tracks VanEck Australian Corporate Bond Plus Index.

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