Fund-vs-fund · International Equities
AMP International Shares Managed Fund vs Foundation Series US Dividend Equity 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 their fee level. The AMP International Shares Managed Fund charges an annual fund charge of 0.79%, while the Foundation Series US Dividend Equity Fund charges 0.06% — a gap of 73 basis points that compounds meaningfully over time on any given investment balance.
Both funds sit at risk indicator 5 on the standard 1–7 scale and allocate 98.31% to growth assets, making their risk profiles closely matched on those disclosed measures. Fund sizes are similar: AMP at approximately NZD 10.97 million and Foundation Series at approximately NZD 10.81 million. Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here.
The more consequential structural divergence beyond fees is portfolio construction. The AMP fund holds a diversified basket of individual global equities, with its five largest positions being NVIDIA Corp (5.48%), Apple Inc (4.84%), Microsoft Corp (3.30%), Amazon.com Inc (2.69%), and Alphabet Inc Class C (2.10%). The Foundation Series fund is effectively a single-holding vehicle: 99.75% is invested in the Schwab U.S. Dividend Equity ETF, with 0.25% in cash at BNZ. This means Foundation Series investors are exposed to a single ETF's methodology and US dividend-focused universe, whereas AMP investors hold broader international equity exposure across named individual securities.
Readers should verify all details against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Comparison generated 2026-07-05 from each fund's FMA Disclose QFU facts as at that date. If the underlying facts change, this narrative is withheld until it is regenerated — the tables on this page always reflect the current data.
What's different at a glance
- Foundation Series US Dividend Equity Fund charges 0.73% lower in annual fund charges (0.06% vs 0.79%).
- 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
AMP
0.79%
Upper half of cohort
Foundation Series
0.06%
Lowest 3% of cohort
5-year return p.a.
Past performance — not a predictor
AMP
—
—
Foundation Series
—
—
Fund size
Larger = more stable, lower close-risk
AMP
NZ$11m
Smallest 8% in cohort
Foundation Series
NZ$11m
Smallest 7% in cohort
| Metric | AMP | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.79% | 0.06% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$11m | NZ$11m | 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.
What each fund says it does
AMP
AMP International Shares Managed Fund
This is a single sector fund with exposure to a diversified international equities portfolio. The fund aims to achieve long term capital growth through exposure to equities of companies listed on stock exchanges around the world.Full AMP AMP International Shares Managed Fund profile →
Foundation Series
Foundation Series US Dividend Equity Fund
The Fund aims for high long-run returns by investing in an ETF that invests in high dividend yielding shares issued by companies in the United States that have a record of consistently paying dividends.Full Foundation Series Foundation Series US Dividend Equity Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
AMP
LiveLast verified 2026-05-08
Common questions
What's the difference between the AMP International Shares Managed Fund and the Foundation Series US Dividend Equity Fund?
Which fund has lower fees, AMP International Shares Managed Fund or Foundation Series US Dividend Equity Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
