Fund-vs-fund · International Equities
ANZ Investments OneAnswer International Share Fund vs Foundation Series Hedged Total World 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 fee levels and portfolio construction approach. The Foundation Series Hedged Total World Fund charges an annual fund charge of 0.07%, compared with 0.96% for the ANZ Investments OneAnswer International Share Fund — a gap of 89 basis points annually, which compounds significantly over time on any given balance.
Portfolio construction diverges sharply as well. The Foundation Series fund holds a single underlying vehicle — the Vanguard Total World Stock ETF at a reported weight of 104.45% (reflecting leverage or derivatives used in hedging, consistent with its "Hedged" designation) plus a nominal cash position. The ANZ fund holds a diversified mix of individual equities and at least one ETF, with its five largest disclosed positions being Nvidia (3.24%), Apple (2.93%), iShares Core S&P 500 ETF (2.37%), Microsoft (1.84%), and Alphabet Class A (1.32%). Both funds carry a risk indicator of 5 and hold approximately 98% growth assets, indicating broadly similar risk profiles on those measures.
On performance, the ANZ fund discloses a five-year annualised return of 10.04%. The Foundation Series fund's five-year return figure is not available in this snapshot — the fund may not yet have a five-year track record — so a direct return comparison cannot be made. Fund sizes are similar: ANZ at approximately NZD 86.4 million, Foundation Series at approximately NZD 85.1 million. Currency hedging is explicit in the Foundation Series fund name; the ANZ fund's hedging policy is not addressed in this data.
Always verify these figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on them for 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
- Foundation Series Hedged Total World Fund charges 0.89% lower in annual fund charges (0.07% vs 0.96%).
- 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 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
ANZ Investments
0.96%
Upper half of cohort
Foundation Series
0.07%
Lowest 5% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
8.34%
Upper half over 5 years
Foundation Series
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$83m
Lower half by size
Foundation Series
NZ$85m
Lower half by size
| Metric | ANZ Investments | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.96% | 0.07% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 8.34% | — | Higher is better (past not future) |
| Fund size | NZ$83m | NZ$85m | 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 to NZD | 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
ANZ Investments
ANZ Investments OneAnswer International Share Fund
The International Share Fund invests mainly in international equities. Investments may include equities in companies that are listed or are soon to be listed on a stock exchange, and cash and cash equivalents. The International Share 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 Share Fund profile →
Foundation Series
Foundation Series Hedged Total World Fund
The fund aims for high long-run returns by investing in an Exchange-Traded Fund ('ETF') that invests in shares of the large, mid-sized and small companies listed on international stock markets.Full Foundation Series Foundation Series Hedged Total World Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Common questions
What's the difference between the ANZ Investments OneAnswer International Share Fund and the Foundation Series Hedged Total World Fund?
Which fund has lower fees, ANZ Investments OneAnswer International Share Fund or Foundation Series Hedged Total World Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
