Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Fund vs Simplicity Growth Investment Fund
Both are Diversified 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 asset allocation: the Simplicity Growth Investment Fund holds 78.48% in growth assets, placing it firmly in aggressive-growth territory, while the ANZ Investments OneAnswer Balanced Fund holds 53.2% in growth assets, consistent with a more moderate balanced profile. Despite sharing a risk indicator of 4, this allocation gap is substantial and will drive meaningfully different return volatility and drawdown behaviour over time.
Fee structure is the next most consequential difference. Simplicity charges an annual fund charge of 0.25%, compared with ANZ Investments' 0.90% — a 0.65 percentage point differential that compounds materially over longer holding periods. The five-year return figures reflect some of this divergence: Simplicity Growth returned 6.00% per annum versus 2.96% for the ANZ OneAnswer Balanced Fund, though comparing these directly is complicated by the funds' differing growth-asset exposures.
On size, Simplicity Growth stands at approximately NZD 1.29 billion; the ANZ fund at approximately NZD 927 million. Both are of meaningful scale. A notable Simplicity-specific concentration is its largest single holding, Simplicity Living Ltd Ordinary Shares at 6.76% — a related-party property investment not present in the ANZ fund. The ANZ fund's top positions are all under 1.3% each, indicating broader diversification at the individual-holding level.
Both funds share equity exposure to Nvidia, Apple, Microsoft, and Fisher & Paykel Healthcare, though at very different weights.
Always verify current fees, returns, and holdings against each fund's product disclosure statement and latest quarterly fund update on FMA Disclose before making any investment decision.
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
- Simplicity Growth Investment Fund charges 0.65% lower in annual fund charges (0.25% vs 0.90%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.90%
Lower half of cohort
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
2.96%
Lower half over 5 years
Simplicity
6.00%
Top 18% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$927m
Largest 10% in cohort
Simplicity
NZ$1.29b
Largest 7% in cohort
| Metric | ANZ Investments | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.90% | 0.25% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 2.96% | 6.00% | Higher is better (past not future) |
| Fund size | NZ$927m | NZ$1.29b | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 78% / 22% | 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 | InvestNow · 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
ANZ Investments weight in shared
3.1%
of ANZ Investments OneAnswer Balanced Fund top 10 is shared
Simplicity weight in shared
9.9%
of Simplicity Growth Investment Fund top 10 is shared
| Holding | ANZ Investments | Simplicity |
|---|---|---|
 Nvidia Corporation US | 1.28% | 3.84% |
 Apple Inc US | 1.14% | 3.45% |
 Microsoft Corporation US | 0.72% | 2.59% |
"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
ANZ Investments
ANZ Investments OneAnswer Balanced Fund
The Balanced Fund invests in similar amounts of income assets (cash and cash equivalents and fixed interest) and growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets.The Balanced Fund aims to achieve (after the fund charge and before tax) over the long term moderate returns, allowing for moderate ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Balanced Fund profile →
Simplicity
Simplicity Growth Investment Fund
The Growth Fund provides investors with a limited exposure to income assets, but most of its investments are in growth assets.Full Simplicity Simplicity Growth Investment Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Fund and the Simplicity Growth Investment Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Fund or Simplicity Growth Investment Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
