Fund-vs-fund · International Equities
Amova Global Shares Fund vs Hyperion Global Growth Companies PIE 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 structural difference between these two funds is cost: Hyperion Global Growth Companies PIE Fund discloses an annual fund charge of 4.38%, compared with 1.20% for the Amova Global Shares Fund — a gap of more than three percentage points that compounds significantly over time regardless of returns.
Risk profile also diverges. Hyperion carries a risk indicator of 6 out of 7, while Amova sits at 5 out of 7, both on the FMA's standardised scale. Both funds hold an identical growth asset allocation of 98.31%, so the higher risk indicator for Hyperion likely reflects greater return volatility rather than a structural difference in defensive positioning. That concentration is visible in the holdings: Hyperion's five largest positions — Tesla (12.48%), Alphabet (11.06%), Meta (10.19%), Amazon (9.83%), and Arm Holdings (7.52%) — are high-conviction, individually weighted bets. Amova's top holdings are more distributed, with Nvidia at 7.71% and no other position above 5.42%.
On performance, Amova discloses a five-year annualised return of 6.69%; Hyperion's five-year return figure is not available in this snapshot. Fund size is broadly comparable: Hyperion at NZD 176.8 million, Amova at NZD 161.9 million.
Neither fund is structured as a KiwiSaver scheme account based on the data provided.
Verify all figures against each fund's current 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
- Amova Global Shares Fund charges 3.18% lower in annual fund charges (1.20% vs 4.38%).
- 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
Hyperion
4.38%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
Hyperion
—
—
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
Hyperion
NZ$177m
Upper half by size
| Metric | Amova | Hyperion | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | 4.38% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 6.69% | — | Higher is better (past not future) |
| Fund size | NZ$162m | NZ$177m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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. |
Portfolio overlap
How many top-10 positions both funds hold, and at what weight. Computed from each fund's most recently disclosed top-10 holdings — exact-name matched (Microsoft Corp. = Microsoft Corporation), with a Cash / Cash & Equivalents collapse rule.
Matching holdings
3
of each fund's top 10
Amova weight in shared
18.5%
of Amova Global Shares Fund top 10 is shared
Hyperion weight in shared
21.3%
of Hyperion Global Growth Companies PIE Fund top 10 is shared
| Holding | Amova | Hyperion |
|---|---|---|
 Nvidia Corp US | 7.71% | 6.68% |
 Amazon Com Inc US | 5.40% | 9.83% |
 Microsoft Corp US | 5.42% | 4.79% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
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 →
Hyperion
Hyperion Global Growth Companies PIE Fund
The Fund invests primarily in growth-oriented companies primarily listed on a recognised global exchange, at the time of initial investment, and will also have some exposure to cash.Full Hyperion Hyperion Global Growth Companies PIE Fund profile →
Common questions
What's the difference between the Amova Global Shares Fund and the Hyperion Global Growth Companies PIE Fund?
Which fund has lower fees, Amova Global Shares Fund or Hyperion Global Growth Companies PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
