Fund-vs-fund · Diversified
ANZ Investments OneAnswer Conservative Balanced Fund vs SBS Wealth Growth Strategy
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.
What's different at a glance
- ANZ Investments OneAnswer Conservative Balanced Fund charges 0.42% lower in annual fund charges (0.75% vs 1.17%).
- 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
0.75%
Lowest 25% of cohort
SBS Wealth
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
2.24%
Lower half over 5 years
SBS Wealth
7.39%
Top 5% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$529m
Largest 16% in cohort
SBS Wealth
NZ$477m
Largest 19% in cohort
| Metric | ANZ Investments | SBS Wealth | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.75% | 1.17% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 2.24% | 7.39% | Higher is better (past not future) |
| Fund size | NZ$529m | NZ$477m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 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 | 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
1
of each fund's top 10
ANZ Investments weight in shared
0.9%
of ANZ Investments OneAnswer Conservative Balanced Fund top 10 is shared
SBS Wealth weight in shared
1.7%
of SBS Wealth Growth Strategy top 10 is shared
| Holding | ANZ Investments | SBS Wealth |
|---|---|---|
 Nvidia Corporation US | 0.94% | 1.66% |
"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 Conservative Balanced Fund
The Conservative Balanced Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with some exposure to growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets.The Conservative Balanced Fund aims to achieve (after the fund charge and before tax) over the long term low to moderate returns, allowing for small to moderate ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Conservative Balanced Fund profile →
SBS Wealth
SBS Wealth Growth Strategy
The fund aims to provide investors with capital growth over the long-term, by investing primarily in a broad spread of Australasian and international equities, with a small amount held in cash.Full SBS Wealth SBS Wealth Growth Strategy profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Conservative Balanced Fund and the SBS Wealth Growth Strategy?
Which fund has lower fees, ANZ Investments OneAnswer Conservative Balanced Fund or SBS Wealth Growth Strategy?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
