Fund-vs-fund · International Equities
Antipodes Global Fund – Long (PIE) vs BetaShares Global Sustainability Leaders 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 investment philosophy and resulting portfolio construction. The Antipodes Global Fund – Long (PIE) is an actively managed, conviction-based strategy; its top five holdings include Amazon, Microsoft, Total SA, Merck, and Brookdale Senior Living, reflecting a value-aware, globally diversified selection that spans energy, healthcare, and technology. The BetaShares Global Sustainability Leaders Fund applies an ethical screen, tracking a sustainability-leaders index, with its five largest positions — Broadcom, NVIDIA, Apple, Mastercard, and Home Depot — concentrated heavily in US technology and consumer names.
On risk, the two funds sit one band apart on the standardised scale: Antipodes carries a risk indicator of 4 (out of 7), BetaShares a 5, suggesting somewhat higher expected volatility for the latter. BetaShares discloses a 0.77% annual fund charge and 98.31% growth assets; Antipodes' annual fund charge is not captured in our current snapshot and its growth assets percentage is similarly absent from the data provided. Fund size is comparable — Antipodes at approximately NZD 133.4 million, BetaShares at approximately NZD 117.8 million.
On performance, Antipodes reports a five-year annualised return of 12.55%; BetaShares' five-year return figure is not yet available in our snapshot, which limits a direct performance comparison.
Neither fund is a KiwiSaver scheme account product based on the data available here. Always verify fees, returns, and fund details against each fund's current PDS 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
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- BetaShares Global Sustainability Leaders Fund applies responsible-investment / ESG screening. The other fund does not.
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
Antipodes
—
—
BetaShares
0.77%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Antipodes
12.55%
Top 15% over 5 years
BetaShares
—
—
Fund size
Larger = more stable, lower close-risk
Antipodes
NZ$133m
Upper half by size
BetaShares
NZ$118m
Upper half by size
| Metric | Antipodes | BetaShares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | — | 0.77% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 12.55% | — | Higher is better (past not future) |
| Fund size | NZ$133m | NZ$118m | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | 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 | — | Unhedged | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | Yes | 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
Antipodes
Antipodes Global Fund – Long (PIE)
The fund invests in the Antipodes Global Fund - UCITS (underlying fund) and cash or cash equivalent securities. The underlying fund's investment exposure is predominantly to a broad range of international shares listed on stock exchanges in developed and emerging markets. Derivatives may be used to establish short positions in securities or market indices and to gain or reduce exposure to currencies where Antipodes sees attractive opportunities and also to offset specific unwanted portfolio risks and provide some protection from unexpectedly large movements in theFull Antipodes Antipodes Global Fund – Long (PIE) profile →
BetaShares
BetaShares Global Sustainability Leaders Fund
The fund aims to provide an investment return that tracks the performance of the Nasdaq Future Global Sustainability Leaders Index, before taking into account fees and expenses.Full BetaShares BetaShares Global Sustainability Leaders Fund profile →
Common questions
What's the difference between the Antipodes Global Fund – Long (PIE) and the BetaShares Global Sustainability Leaders Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
