QSML
VanEck MSCI International Small Companies Quality ETF
QSML
VanEck MSCI International Small Companies Quality ETF
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NAV$30.57
as at 23-Dec-24 -
Total Net Assets$1.40B
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Dividend Frequency1 each year
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Management fee (p.a.)0.59%
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Number of securities150
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Inception Date08-Mar-21
Overview
Fund Description
QSML gives investors a diversified portfolio of 150 international developed market small-cap quality growth securities. QSML aims to provide investment returns before fees and other costs which track the performance of the Index.
Key benefits
150 of the world's highest quality small companies
Access a diversified portfolio containing some of the world's highest quality small companies based on three key fundamentals: (i) high return on equity; (ii) earnings stability; and (iii) low financial leverage.
Outperformance potential in growing companies
Investments focusing on quality small companies have delivered outperformance over the long term relative to other global small companies benchmarks and also relative to large- and mid-cap benchmarks.
Diversified across countries, sectors and companies
Offering investors a portfolio of 150 companies across a range of geographies, sectors and economies.
Index Key points
Index name
MSCI World ex Australia Small Cap Quality 150 Index
Overview
The Index measures the performance of a quality growth strategy by identifying the largest 150 stocks based on the free-float market capitalisation (“FMC”) of the securities in the MSCI World ex Australia Small Cap Index tilted by the quality score, at rebalance. The quality scores are based on three main fundamental variables: high return on equity, stable year-over-year earnings growth and low financial leverage.
Summary of Index calculation methodology
A four step process is followed to determine the Reference Index:
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Universe
The eligible universe is all the companies in the MSCI World ex Australia Small Cap Index (“Parent Index”), which is a traditional FMC weighted index.
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Quality
MSCI calculates a quality score for each company in the universe based on the following fundamental accounting variables from publicly reported financial data:
- return on equity;
- earnings variability; and
- debt to equity ratio.
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Select top 150
The top 150 companies by quality weight are then selected for the Index.
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Weighting
The weights of the final 150 constituents are then adjusted proportionately based on their quality weight in step 2. The maximum weight of any company is capped at 5%.
Rebalances
The Index is reviewed and rebalanced on a semi-annual basis, usually as of the close of the last business day of May and November. The quality scores are recalculated at the end of April and October and used for May and November rebalances respectively.
For full details of the methodology, click here
Index provider
MSCI Inc (“MSCI”). MSCI is not a related body corporate of VanEck.
QSML is indexed to a MSCI index. QSML is not sponsored, endorsed or promoted by MSCI, and MSCI bears no liability with respect to QSML or the MSCI World ex Australia Small Cap Quality 150 Index. The PDS contains a more detailed description of the limited relationship MSCI has with VanEck and QSML.
Performance
Holdings & allocations
Dividends
Election of Dividend Reinvestment Plan (DRP)
You can elect DRP by logging into Link’s Investor Centre (https://investorcentre.linkmarketservices.com.au/Login). Once you are logged in, please proceed to the “Payments and Tax” tab and select “Reinvestment Update”.