SMLL.AX vs. MVS.AX

Last updated Jul 16, 2026

SMLL.AX (BetaShares Australian Small Companies Select ETF) and MVS.AX (VanEck Small Companies Masters ETF) are both Small Cap Blend Equities funds - SMLL.AX tracks the BetaShares Australian Small Companies Select Index while MVS.AX tracks the VanEck Small Companies Masters Index. Both are passively managed. Over the past 5 years, SMLL.AX returned 2.39%/yr vs 0.87%/yr for MVS.AX. A 0.75 correlation means they provide meaningful diversification when combined.

Performance

SMLL.AX vs. MVS.AX - Performance Comparison

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

Returns By Period

In the year-to-date period, SMLL.AX achieves a -10.24% return, which is significantly higher than MVS.AX's -11.02% return.

SMLL.AX

• 1D: 0.49%
• 1M: -1.89%
• 6M: -13.55%
• YTD: -10.24%
• 1Y: 13.10%
• 3Y*: 8.68%
• 5Y*: 2.39%
• 10Y*: —

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%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMLL.AX BetaShares Australian Small Companies Select ETF	-10.24%	33.20%	2.52%	4.79%	-18.38%	18.80%	15.15%	21.35%	-10.00%	13.67%
MVS.AX VanEck Small Companies Masters ETF	-11.02%	22.15%	3.07%	5.55%	-17.66%	17.90%	1.99%	17.85%	-6.89%	11.20%

Correlation

The correlation between SMLL.AX and MVS.AX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 7, 2017	0.75

The correlation between SMLL.AX and MVS.AX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

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

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

SMLL.AX

SMLL.AX Risk / Return Rank: 20
SMLL.AX Sharpe Ratio Rank: 23
SMLL.AX Sortino Ratio Rank: 22
SMLL.AX Omega Ratio Rank: 22
SMLL.AX Calmar Ratio Rank: 19
SMLL.AX Martin Ratio Rank: 17

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for BetaShares Australian Small Companies Select ETF (SMLL.AX) and VanEck Small Companies Masters ETF (MVS.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.

	SMLL.AX	MVS.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.23	+0.43
Sortino ratio: Return per unit of downside risk	1.02	0.49	+0.52
Omega ratio: Gain probability vs. loss probability	1.13	1.06	+0.06
Calmar ratio: Return relative to maximum drawdown	0.65	0.24	+0.42
Martin ratio: Return relative to average drawdown	1.32	0.51	+0.82

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

The current SMLL.AX Sharpe Ratio is 0.66, which is higher than the MVS.AX Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of SMLL.AX and MVS.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

SMLL.AX vs. MVS.AX - Drawdown Comparison

The maximum SMLL.AX drawdown since its inception was -40.17%, roughly equal to the maximum MVS.AX drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for SMLL.AX and MVS.AX.

Drawdown Indicators

	SMLL.AX	MVS.AX	Difference
Max Drawdown Largest peak-to-trough decline	-40.17%	-41.85%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-20.00%	-21.58%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	-21.58%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-25.98%	-25.51%	-0.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.85%	—
Current Drawdown Current decline from peak	-16.46%	-14.40%	-2.06%
Average Drawdown Average peak-to-trough decline	-8.47%	-8.15%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.11%	10.25%	-0.14%

Volatility

SMLL.AX vs. MVS.AX - Volatility Comparison

The current volatility for BetaShares Australian Small Companies Select ETF (SMLL.AX) is 3.89%, while VanEck Small Companies Masters ETF (MVS.AX) has a volatility of 4.38%. This indicates that SMLL.AX experiences smaller price fluctuations and is considered to be less risky than MVS.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMLL.AX	MVS.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	4.38%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	15.92%	19.95%	-4.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.71%	22.21%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	17.43%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	21.08%	-2.92%

Dividends

SMLL.AX vs. MVS.AX - Dividend Comparison

SMLL.AX's dividend yield for the trailing twelve months is around 1.90%, more than MVS.AX's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SMLL.AX BetaShares Australian Small Companies Select ETF	1.90%	1.15%	1.35%	1.69%	3.92%	5.80%	2.13%	2.33%	4.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

SMLL.AX and MVS.AX have a correlation of 0.79, 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 SMLL.AX and MVS.AX?

SMLL.AX tracks BetaShares Australian Small Companies Select Index, while MVS.AX tracks VanEck Small Companies Masters Index. They also come from different issuers: BetaShares and VanEck.