Macquarie Core Australian Equity Active ETF vs Betashares FTSE RAFI Australia 200 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.
MQAE and QOZ are highly similar Australian Broad Market ETFs, with approximately 72% (full holdings data) holdings overlap. MQAE has the lower base management fee (0.03% vs 0.4% p.a.), but it also charges a performance fee (20% of returns above its benchmark), so which fund costs less overall depends on its returns.
Macquarie Core Australian Equity Active ETF
Other
Betashares FTSE RAFI Australia 200 ETF
BetaShares
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
There is no single "better" fund here - which suits you depends on your goals. The clearest differences between MQAE and QOZ:
Green highlights the leading comparison score, the factually lower fee, or the higher scale or income figure. Performance is never highlighted. Data from issuer disclosures and the ASX Investment Products report. Fund size, yield, return and holdings figures each state the date they are as at; sector and geography figures for some funds are category-inferred estimates, clearly labelled on each fund's page.
Category scores compare these two ETFs only and are not absolute ratings.
Fund size (assets): Both funds are a similar size by assets.
Holdings breadth: QOZ spreads exposure across more holdings (MQAE 168, QOZ 199); the other is more concentrated. Neither is inherently better - it depends on whether you want breadth or a focused tilt.
Income (distribution yield): MQAE distributes approximately 2.28% and QOZ distributes approximately 3.7%; QOZ 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.
General information only, not financial advice. ETFLens does not hold an AFSL. Always read the relevant PDS and consider seeking advice from a licensed financial adviser.
Fund sizes as at 30 Sep 2026 for both funds.
Yield figures are estimates based on recent distributions and may vary. Yields as at 30 Apr 2026 for both funds. Past performance is not a reliable indicator of future returns or distributions. These figures may be out of date. Check the fund manager's website for current performance.
Returns as at 30 Sep 2026 for both funds.
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. Listed top holdings are as at different dates (MQAE 30 Oct 2026, QOZ 29 Oct 2026), so the two funds' figures are not directly comparable.
MQAE top holdings
QOZ top holdings
Sector weights for MQAE are approximate, inferred from the fund's category.
MQAE sectors
QOZ sectors
Geographic weights for MQAE are approximate, inferred from the fund's category.
MQAE geography
QOZ geography
There is no single right choice between MQAE and QOZ - it depends on your goals, time horizon and existing holdings. The key differences between the two funds are summarised near the top of this page, with the full side-by-side data below.
MQAE and QOZ have approximately 72% holdings overlap, based on each fund's full published holdings list. This is considered high overlap.
MQAE has the lower base management fee (0.03% vs 0.4% p.a.), but it also charges a performance fee (20% of returns above its benchmark), so which fund costs less overall depends on its returns. MQAE charges 0.03% per year in base management fees ($3 per year on a $10,000 investment) and QOZ charges 0.4% per year ($40 per year on a $10,000 investment).
MQAE (Macquarie Core Australian Equity Active ETF) manages approximately $1.3B and QOZ (Betashares FTSE RAFI Australia 200 ETF) manages approximately $1.4B. Fund sizes as at 30 Sep 2026 for both funds. 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 72% 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. MQAE charges 0.03% and QOZ charges 0.4% in base management fees, and MQAE also charges a performance fee, so which costs less overall depends on its returns, and they have approximately 72% estimated holdings overlap. Compare their fees, holdings and sectors above and consider each fund's Product Disclosure Statement and Target Market Determination. Note: MQAE also charges a performance fee (20% of returns above its benchmark). Figures show the base management fee only, so total cost can be higher.
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. 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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