Fund-vs-fund · International Equities
Antipodes Global Fund – Long (PIE)vsSmart Europe ETF
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.
Where you can buy these
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Antipodes Global Fund – Long (PIE)
Smart Europe ETF
What's different at a glance
- Smart Europe ETF charges 0.44% lower in annual fund charges (0.55% vs 0.99%).
- 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 84 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
0.99%
Upper half of cohort
Smartshares
0.55%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Antipodes
13.09%
Top 13% over 5 years
Smartshares
10.78%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Antipodes
NZ$138m
Upper half by size
Smartshares
NZ$152m
Upper half by size
| Metric | Antipodes | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.99% | 0.55% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 13.09% | 10.78% | Higher is better (past not future) |
| Fund size | NZ$138m | NZ$152m | 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
Antipodes
Antipodes Global Fund – Long (PIE)
The fund invests in the Antipodes Global Fund - Long - 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. The underlying fund may use exchange traded derivatives for risk management purposes and to achieve equity exposure.Full Antipodes Antipodes Global Fund – Long (PIE) profile →
Smartshares
Smart Europe ETF
The Smart Europe ETF is designed to track the return (before tax, fees and other expenses) of the FTSE Developed Europe All Cap Index. The Index is comprised of large, mid and small cap companies located in European countries.Full Smartshares Smart Europe ETF profile →
Common questions
What's the difference between the Antipodes Global Fund – Long (PIE) and the Smart Europe ETF?
Which fund has lower fees, Antipodes Global Fund – Long (PIE) or Smart Europe ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
