Geared Australian Equities Complex ETF vs Vanguard Australian Shares Index ETF
Overlap is calculated from each fund's full published holdings list. Where there are no shared listed holdings it is shown as not reliably estimable.
GEAR and VAS are near-identical Australian Broad Market ETFs, with approximately 96% (full holdings data) holdings overlap. VAS has the lower management fee (0.07% vs 0.74% p.a.). There is limited reason to hold both, as the second fund adds little new exposure.
Geared Australian Equities Complex ETF
BetaShares
Vanguard Australian Shares Index ETF
Vanguard
Comparison scores reflect how each ETF compares to the other on these specific dimensions only. They are not absolute ratings or recommendations.
Key differences at a glance
Neither GEAR nor VAS is the "right" pick for everyone; it comes down to what you want from the holding. Where they differ most:
Category scores compare these two ETFs only and are not absolute ratings.
VAS has the lower management fee - the one objective "cheaper" axis.
VAS is the larger fund. Larger is not inherently better, but greater scale can support tighter spreads and lower closure risk.
VAS spreads exposure across more holdings (GEAR 200, VAS 316); the other is more concentrated. Neither is inherently better - it depends on whether you want breadth or a focused tilt.
GEAR distributes approximately 1.8% and VAS approximately 3.3%; VAS carries the higher estimated distribution yield. A higher yield may suit an income focus; a lower one may suit a growth or tax-efficiency focus. Yields are estimates and are not guaranteed; past performance is not a reliable indicator of future returns.
Green highlights the factually lower fee or higher scale/income figure. Performance is never highlighted. Data from issuer disclosures, reviewed quarterly.
Yield figures are estimates based on recent distributions and may vary. Past distributions are not a reliable indicator of future distributions.
Past performance is not a reliable indicator of future returns.
Top shared holdings ranked by overlap contribution, the smaller of each company's weight in the two funds. Basis: full holdings data.
Top 10 listed holdings for each fund, from issuer disclosures.
GEAR top holdings
VAS top holdings
GEAR sectors
VAS sectors
GEAR geography
VAS geography
Whether GEAR or VAS fits comes down to your goals, time horizon and what you already hold. The clearest differences are summarised near the top of this page, with the full data below.
GEAR and VAS have approximately 96% holdings overlap, based on each fund's full published holdings list. This is considered high overlap.
VAS has the lower management fee. GEAR charges 0.74% per year ($74 per year on a $10,000 investment) and VAS charges 0.07% per year ($7 per year on a $10,000 investment). The difference is $67 per year per $10,000 invested.
GEAR (Geared Australian Equities Complex ETF) manages approximately $557.8M and VAS (Vanguard Australian Shares Index ETF) manages approximately $24.3B. Fund size can affect liquidity and bid-ask spreads but does not by itself change the management fee.
You can hold both, but with approximately 96% estimated holdings overlap the two funds hold a high proportion of the same companies, so holding both means paying two sets of management fees on largely the same exposure. Whether that suits you depends on your own objectives.
There is no universally right choice. It depends on your goals, time horizon and existing holdings. GEAR charges 0.74% and VAS charges 0.07%, so VAS has the lower management fee, and they have approximately 96% estimated holdings overlap. Compare their fees, holdings and sectors above and consider each fund's Product Disclosure Statement and Target Market Determination.
General information only.This comparison and the ETFLens tools on this page provide general information about two exchange-traded funds and do not take into account your personal objectives, financial situation or needs. It is not personal financial product or investment advice. ETFLens does not hold an Australian Financial Services Licence (AFSL). Holdings overlap is calculated from each fund's published holdings (full lists where the issuer publishes one, listed top holdings otherwise), and fee data is sourced from fund manager PDS documents and updated quarterly. Past performance is not a reliable indicator of future returns. Consider each fund's Product Disclosure Statement (PDS) and Target Market Determination (TMD), and seek advice from a registered tax agent or licensed financial adviser, before making investment decisions.
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