DACE vs MQAE vs VAS vs XX20 - Compare ETFs side by side

At a glance

Comparing DACE, MQAE, VAS, and XX20. MQAE has the lowest management fee at 0.03% a year, VAS has the highest 5 years return at 7.4% a year, and VAS offers the highest at 2.95%.

Lowest fee

MQAE 0.03% p.a.

Highest 5 years return

VAS 7.4% p.a.

Highest yield

VAS 2.95%

Lowest volatility

VAS 12.5% (5y)

Largest fund

VAS $26.7bn

Side-by-side comparison

Metric	DACE Dimensional Australian Core Equity Trust - Active ETF	MQAE Macquarie Core Australian Equity Active ETF	VAS Vanguard Australian Shares Index ETF	XX20 First Sentier ex-20 Australian Share Fund Active ETF
Snapshot
Provider	—	—	Vanguard	—
Tracks index	S&P/ASX 300 Index	S&P/ASX 200 Index	S&P/ASX 300 Index	—
Categories	AU, Factor, Value, Small-Cap	AU, Large-Cap	AU, Large-Cap, Market-Cap	AU, Active
Listed since	2006 (20 yrs)	2023 (3 yrs)	2009 (17 yrs)	—
Fund size (AUM)	—	$1.3bn	$26.7bn	$225m
Cost & income
Management fee	0.28%	0.03%	0.07%	0.75%
Dividend yield	—	2.59%	2.95%	1.44%
Franking	80%	78%	75%	55%
Turnover	20%	55%	4%	38%
Tax drag	0.48%	1.56%	0.4%	1.14%
Returns	Tax bracket - adjusts tax drag & net returns
1-year return	—	0.9% net	2.3% net	-27.9% net
3-year return	—	—	11.3% net	1.2% net
5-year return	—	—	7.4% net	-3.8% net
10-year return	—	—	8.9% net	—
Risk
Volatility (3y)	—	—	10.6%	20.1%
Volatility (5y)	—	—	12.5%	21.8%
Volatility (10y)	—	—	13.4%	—
Sharpe ratio (3y)	—	—	0.68	—
Sharpe ratio (5y)	—	—	0.37	—
Sharpe ratio (10y)	—	—	0.54	—
Bid/ask spread	—	—	—	—

marks the strongest fund in each row. “net” shows the after-tax return at your selected bracket. “—” means we don’t have that data point yet.

Each fund at a glance

DACE Dimensional Australian Core Equity Trust - Active ETF

Low-cost: a 0.28% management fee keeps more of the return in your pocket.

Cheaper alternatives exist: MQAE, A200, and IOZ.

Full DACE analysis →

MQAE Macquarie Core Australian Equity Active ETF

Low-cost: a 0.03% management fee keeps more of the return in your pocket.

High portfolio turnover (55% a year) means frequent trading that realises capital gains, adding tax drag — less efficient than a low-turnover index fund.

Full MQAE analysis →

VAS Vanguard Australian Shares Index ETF

Low-cost: a 0.07% management fee keeps more of the return in your pocket.

Cheaper alternatives exist: MQAE, A200, and IOZ.

Full VAS analysis →

XX20 First Sentier ex-20 Australian Share Fund Active ETF

Has lagged most peers over 5 years (187th of 189).

Full XX20 analysis →

Frequently Asked Questions

What's the difference between DACE vs MQAE vs VAS vs XX20?

DACE, MQAE, VAS, and XX20 are 4 Australian-listed ETFs we compare side by side. MQAE carries the lowest management fee (0.03%). Over 5 years, VAS has delivered the highest total return (7.4% a year). The table above breaks down fees, returns, income and risk for each.

Which has the lowest fees - DACE vs MQAE vs VAS vs XX20?

MQAE has the lowest management fee at 0.03% a year, versus DACE 0.28%, VAS 0.07%, and XX20 0.75%.

Which has performed highest - DACE vs MQAE vs VAS vs XX20?

Over the past 5 years, VAS has delivered the highest total return at 7.4% a year. Past performance is not a reliable indicator of future returns.

Which pays the highest dividend yield?

VAS pays the highest at 2.95%. Remember distributions are taxed each year at your marginal rate.

Which is the largest and most liquid?

VAS is the largest fund by assets ($26.7bn). Larger funds are typically more liquid and trade on tighter spreads.

Related comparisons

DACE vs DAVA DACE vs IOZ DACE vs A200 DACE vs FHCO DACE vs AASF MQAE vs IOZ MQAE vs STW MQAE vs A200

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General information only, generated from each fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.