MVS.AX vs. CNEW.AX

Last updated Jul 16, 2026

MVS.AX (VanEck Small Companies Masters ETF) and CNEW.AX (VanEck China New Economy ETF) are both exchange-traded funds - MVS.AX is a Small Cap Blend Equities fund tracking the VanEck Small Companies Masters Index, while CNEW.AX is a China Equities fund tracking the MarketGrader China New Economy Index. Both are passively managed. Over the past 5 years, MVS.AX returned 0.87%/yr vs -1.69%/yr for CNEW.AX. At a 0.11 correlation, their price movements are largely independent.

Performance

MVS.AX vs. CNEW.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck Small Companies Masters ETF (MVS.AX) and VanEck China New Economy ETF (CNEW.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVS.AX achieves a -11.02% return, which is significantly lower than CNEW.AX's 1.87% return.

MVS.AX

• 1D: 0.00%
• 1M: -1.96%
• 6M: -12.40%
• YTD: -11.02%
• 1Y: 4.90%
• 3Y*: 5.78%
• 5Y*: 0.87%
• 10Y*: 4.08%

CNEW.AX

• 1D: -1.71%
• 1M: 2.64%
• 6M: -3.46%
• YTD: 1.87%
• 1Y: 13.85%
• 3Y*: 6.54%
• 5Y*: -1.69%
• 10Y*: —

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

MVS.AX vs. CNEW.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MVS.AX VanEck Small Companies Masters ETF	-11.02%	22.15%	3.07%	5.55%	-17.66%	17.90%	1.99%	17.85%	-2.69%
CNEW.AX VanEck China New Economy ETF	1.87%	15.14%	11.63%	-7.15%	-26.85%	14.22%	26.35%	40.10%	1.63%

Correlation

The correlation between MVS.AX and CNEW.AX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	0.11

The correlation between MVS.AX and CNEW.AX shifts across timeframes, from 0.03 (3 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MVS.AX vs. CNEW.AX — Risk / Return Rank

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

MVS.AX

MVS.AX Risk / Return Rank: 13
MVS.AX Sharpe Ratio Rank: 13
MVS.AX Sortino Ratio Rank: 13
MVS.AX Omega Ratio Rank: 13
MVS.AX Calmar Ratio Rank: 12
MVS.AX Martin Ratio Rank: 12

CNEW.AX

CNEW.AX Risk / Return Rank: 21
CNEW.AX Sharpe Ratio Rank: 21
CNEW.AX Sortino Ratio Rank: 21
CNEW.AX Omega Ratio Rank: 21
CNEW.AX Calmar Ratio Rank: 22
CNEW.AX Martin Ratio Rank: 21

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.

MVS.AX vs. CNEW.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Small Companies Masters ETF (MVS.AX) and VanEck China New Economy ETF (CNEW.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.

	MVS.AX	CNEW.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.23	0.61	-0.38
Sortino ratio: Return per unit of downside risk	0.49	1.00	-0.51
Omega ratio: Gain probability vs. loss probability	1.06	1.13	-0.06
Calmar ratio: Return relative to maximum drawdown	0.24	0.87	-0.63
Martin ratio: Return relative to average drawdown	0.51	2.09	-1.58

MVS.AX vs. CNEW.AX - Sharpe Ratio Comparison

The current MVS.AX Sharpe Ratio is 0.23, which is lower than the CNEW.AX Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of MVS.AX and CNEW.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

MVS.AX vs. CNEW.AX - Drawdown Comparison

The maximum MVS.AX drawdown since its inception was -41.85%, smaller than the maximum CNEW.AX drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for MVS.AX and CNEW.AX.

Drawdown Indicators

	MVS.AX	CNEW.AX	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-46.20%	+4.35%
Max Drawdown (1Y) Largest decline over 1 year	-21.58%	-13.25%	-8.33%
Max Drawdown (3Y) Largest decline over 3 years	-21.58%	-27.71%	+6.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.51%	-46.20%	+20.69%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	—	—
Current Drawdown Current decline from peak	-14.40%	-13.40%	-1.00%
Average Drawdown Average peak-to-trough decline	-8.15%	-17.27%	+9.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.25%	5.61%	+4.64%

Volatility

MVS.AX vs. CNEW.AX - Volatility Comparison

The current volatility for VanEck Small Companies Masters ETF (MVS.AX) is 4.38%, while VanEck China New Economy ETF (CNEW.AX) has a volatility of 5.62%. This indicates that MVS.AX experiences smaller price fluctuations and is considered to be less risky than CNEW.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVS.AX	CNEW.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	5.62%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	19.95%	15.27%	+4.68%
Volatility (1Y) Calculated over the trailing 1-year period	22.21%	18.99%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.43%	24.49%	-7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	24.61%	-3.53%

Dividends

MVS.AX vs. CNEW.AX - Dividend Comparison

MVS.AX's dividend yield for the trailing twelve months is around 1.30%, more than CNEW.AX's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNEW.AX VanEck China New Economy ETF	0.74%	0.88%	1.71%	1.72%	1.86%	1.03%	1.40%	1.01%	0.00%	0.00%	0.00%	0.00%
MVS.AX VanEck Small Companies Masters ETF	1.30%	1.36%	1.78%	2.01%	2.34%	3.08%	3.46%	3.74%	1.68%	2.96%	2.87%	0.25%

Frequently Asked Questions

Can I hold both MVS.AX and CNEW.AX in my portfolio?

MVS.AX and CNEW.AX have a correlation of 0.14, 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 MVS.AX and CNEW.AX?

MVS.AX is categorized as Small Cap Blend Equities, while CNEW.AX is China Equities. MVS.AX tracks VanEck Small Companies Masters Index, while CNEW.AX tracks MarketGrader China New Economy Index.