Fund-vs-fund · International Equities
ANZ Investments OneAnswer International Listed Infrastructure Fund vs SBS Wealth World Equity Portfolio
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 how they access international equities. The ANZ Investments OneAnswer International Listed Infrastructure Fund invests directly in listed infrastructure companies — its top five positions are individual stocks including Cellnex Telecom (6.47%), Getlink (5.88%), and Severn Trent (5.08%), concentrating exposure in telecommunications, transport, and utilities infrastructure. The SBS Wealth World Equity Portfolio, by contrast, is a fund-of-funds: nearly half its portfolio (47.43%) sits in a single underlying vehicle, the Dimensional Global Sustainability PIE Fund (NZD Hedged), with additional allocations to Schroder, Munro, and Kernel funds. This layered structure means SBS Wealth investors bear an additional layer of underlying fund costs beyond the stated 1.18% annual fund charge, whereas ANZ Investments charges 0.84% for direct stock exposure. That fee gap of 34 basis points is meaningful over time, though the ANZ fund's narrower infrastructure mandate introduces sector concentration risk absent from the broader SBS portfolio.
Both funds carry a risk indicator of 5 and hold growth assets at identical 98.31% weightings. Fund sizes are comparable — ANZ at NZD 97.1 million, SBS Wealth at NZD 94.4 million. SBS Wealth discloses a five-year return of 9.21% per annum; the ANZ fund's five-year return figure is not available in this snapshot. Neither fund is a KiwiSaver scheme account.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
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
- ANZ Investments OneAnswer International Listed Infrastructure Fund charges 0.34% lower in annual fund charges (0.84% vs 1.18%).
- 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 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.84%
Upper half of cohort
SBS Wealth
1.18%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
SBS Wealth
9.21%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$97m
Upper half by size
SBS Wealth
NZ$94m
Upper half by size
| Metric | ANZ Investments | SBS Wealth | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.84% | 1.18% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 9.21% | Higher is better (past not future) |
| Fund size | NZ$97m | NZ$94m | 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 | 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.
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer International Listed Infrastructure Fund
The International Listed Infrastructure Fund invests mainly in international listed infrastructure. Investments may include companies that invest in infrastructure and are listed or are soon to be listed, and cash and cash equivalents.The International Listed Infrastructure Fund aims to achieve a return (after the fund charge and before tax) that over the long-term outperforms the relevant market index.Full ANZ Investments ANZ Investments OneAnswer International Listed Infrastructure Fund profile →
SBS Wealth
SBS Wealth World Equity Portfolio
The Fund aims to achieve capital growth and returns over the long-term through investment primarily in a portfolio of international equities, either directly or indirectly via an underlying fund diversified across various sectors.Full SBS Wealth SBS Wealth World Equity Portfolio profile →
Common questions
What's the difference between the ANZ Investments OneAnswer International Listed Infrastructure Fund and the SBS Wealth World Equity Portfolio?
Which fund has lower fees, ANZ Investments OneAnswer International Listed Infrastructure Fund or SBS Wealth World Equity Portfolio?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
