Most recently the Market Vectors Australian Equal Weight Index (MVMVW) had its one year anniversary as an underlying for the Market Vectors Australian Equal Weight ETF (ASX Code: MVW, Bloomberg code: MVW AU).
In its first full year the MVMVW Index outperformed the S&P/ASX 200 Accumulation Index by 3.91% returning 18.24%.
Australia has one of the highest concentration levels in the world with the top 10 securities comprise ~55% of the S&P/ASX 200 index. By equally weighting its holdings the MVMVW Index reduces the concentration risk to the top 10 and also provides better exposure to the broad Australian economy.
| 1 Month | 3 Months | 6 Months | 1 Year | |
|---|---|---|---|---|
| Market Vectors Australia Equal Weight Index | -0.72% | 5.77% | 8.27% | 14.16% |
| S&P/ASX 200 Index | -1.70% | 5.00% | 7.08% | 10.23% |
| Difference | +0.98% | +0.77% | +1.19% | +3.93% |
Source: Bloomberg, as at 30 April 2015
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