QRE vs MVR: Australian Resources ETFs Compared (2026)

Quick answer: QRE (BetaShares, 0.34%) and MVR (VanEck, 0.35%) both hold ASX-listed miners and energy companies such as BHP, Rio Tinto and Woodside, at almost the same fee. The difference is weighting. MVR spreads its money across 36 companies, with no single holding above about 8%. QRE has tracked the size-weighted S&P/ASX 200 Resources Index closely, so it moves more with the biggest miners. Over the year to September 2026 that difference mattered: QRE returned 32.1% and MVR 25.0%. Over five and ten years they've been almost level.

QRE and MVR side by side

	QRE	MVR
Issuer	BetaShares	VanEck
Index	Solactive Australia Resources Sector	MVIS Australia Resources
Management fee	0.34%	0.35%
Holdings	Not published on fund page	36
Fund size	A$444m (16 Oct 2026)	A$834m (Sept 2026)
Distributions	Half-yearly	Twice a year
Listed	Dec 2010	Oct 2013

Sources: BetaShares QRE page; VanEck MVR fact sheet, Sept 2026.

Returns

	1 year	3 years (p.a.)	5 years (p.a.)	10 years (p.a.)
QRE	32.05%	13.72%	15.36%	14.63%
MVR	25.03%	12.93%	15.09%	14.18%
S&P/ASX 200 Resources Index	33.67%	14.37%	15.89%	14.95%

To 30 September 2026, after fees for the ETFs (QRE, MVR). Index returns from VanEck's MVR fact sheet, before fees.

1-year return to 30 September 2026

QRE (BetaShares)32.05%

MVR (VanEck)25.03%

What drives the difference

MVR spreads its weight. Its top 10 at September 2026 was Woodside 8.1%, BHP 7.9%, Rio Tinto 6.8%, Northern Star 6.8%, Fortescue 6.4%, Santos 5.8%, South32 5.0%, Origin Energy 4.5%, Evolution Mining 4.4% and Orica 3.1% (VanEck). By sub-industry, it was 30.2% diversified miners, 26.1% gold, 14.4% oil and gas producers, 6.9% steel and 4.5% electric utilities. Because no company dominates, MVR leans further into mid-sized miners, gold producers and energy companies than a size-weighted index does.

QRE follows the big names more closely. BetaShares doesn't list QRE's holdings on its fund page, but its returns have stayed close to the size-weighted S&P/ASX 200 Resources Index over every period above. In that index, the largest miners carry much more weight than in MVR. When BHP and the iron ore majors lead, as they did over the past year, QRE tends to come out ahead; when mid-sized producers lead, MVR's spread can help.

Over 5 and 10 years the gap is under 0.5% a year. Both are concentrated sector funds that rise and fall with commodity prices.

Before you add either

You may already own most of this. BHP, Rio Tinto, Woodside and Fortescue are among the largest companies on the ASX, so a broad fund such as VAS or A200 already holds them.
Commodity cycles are long. Iron ore, oil and gold prices can fall for years. A resources ETF is a cyclical satellite, not a core holding.
Income. MVR's portfolio dividend yield was 3.23% in September 2026, and Australian miners often pay franked dividends; see dividend investing in Australia.

If you're after the energy-transition metals (copper, lithium, rare earths) rather than the big diversified miners, see green metals ETFs. Use the ETF Calculator to model a small sector position.

Gains on sale use the 50% CGT discount for gains up to 30 June 2027 (units held over 12 months), then indexation with a 30% minimum rate under the 2027 CGT changes.

Frequently asked questions

What is the difference between QRE and MVR?

Both hold ASX-listed resources companies at about the same fee (QRE 0.34%, MVR 0.35% p.a.). MVR spreads its weight across 36 companies with no holding above about 8%, while QRE has tracked the size-weighted S&P/ASX 200 Resources Index more closely. QRE returned 32.1% and MVR 25.0% in the year to September 2026; over 5 and 10 years they're within half a percent a year.

Which Australian resources ETF is cheapest?

BetaShares QRE at 0.34% p.a., just below VanEck MVR at 0.35% p.a.

Does VAS already hold BHP and Rio Tinto?

Yes. VAS tracks the ASX 300, in which BHP is the largest company and Rio Tinto is also in the top 10, so a resources ETF on top of VAS increases your exposure to the same companies.

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This article is for general information only and does not constitute financial, tax or legal advice. Individual circumstances vary. Consult a registered tax agent or licensed financial adviser before making decisions based on this information.