Fund-vs-fund · International Equities
Amova Global Shares Fund vs Ellerston Global Mid Small Cap Fund
Both are International Equities funds available to NZ retail investors. Numbers below are sourced from the FMA Disclose register via Sorted Smart Investor and reflect the latest published quarterly fund updates.
Why these two differ
The most material difference here is data availability: Ellerston Global Mid Small Cap Fund's latest Quarterly Fund Update is absent from this snapshot, meaning no fee, risk indicator, five-year return, fund size, growth asset allocation, or top holdings can be reported for it. Any comparison of those dimensions is therefore one-sided, and readers should treat the Ellerston figures as pending verification.
On the Amova side, the Amova Global Shares Fund (managed by Amova) discloses a 1.20% annual fund charge, a risk indicator of 5 out of 7, and a five-year return of 6.69% per annum. The fund holds approximately NZD 161.9 million in assets and allocates 98.31% to growth assets, consistent with a near-fully-invested equity mandate. Its five largest disclosed positions are Nvidia Corp (7.71%), Microsoft Corp (5.42%), Amazon.com Inc (5.40%), Broadcom Corp (3.58%), and Netflix Inc (3.43%), reflecting a pronounced tilt toward large-cap US technology and communications names — which sits in some tension with the "global shares" label and is worth noting for investors seeking broad geographic or sector diversification.
Both funds sit in the International Equities category; the Ellerston fund's name signals a mid- and small-cap focus, a structurally distinct market segment from Amova's apparent large-cap concentration, though no Ellerston data is available in this snapshot to confirm allocation or fee levels.
Always verify current figures — including fees, risk indicators, and returns — against each fund's Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Where each fund sits in its cohort
Percentile rank vs all 81 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Amova
1.20%
Highest 23% of cohort
Ellerston
—
—
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
Ellerston
—
—
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
Ellerston
—
—
| Metric | Amova | Ellerston | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | — | Lower is better |
| Risk indicator (1–7) | 5 | — | Higher = more volatility |
| 5-year return p.a. | 6.69% | — | Higher is better (past not future) |
| Fund size | NZ$162m | — | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | — | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | No | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
What each fund says it does
Amova
Amova Global Shares Fund
The fund aims to provide investors with a relatively concentrated actively managed investment portfolio of global equities to achieve long term capital growth. This fund invests in a selection of around 40-50 companies from around the world, covering a diverse range of regions and sectors. This fund has a high level of volatility.Full Amova Amova Global Shares Fund profile →
Ellerston
Ellerston Global Mid Small Cap Fund
Strategy summary not yet ingested.
Full Ellerston Ellerston Global Mid Small Cap Fund profile →Common questions
What's the difference between the Amova Global Shares Fund and the Ellerston Global Mid Small Cap Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
