Fund-vs-fund · International Equities
ANZ Investments OneAnswer International Share 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 Share Fund holds individual company stocks directly — its top five positions are Nvidia Corporation (3.5%), Apple Inc (3.12%), Microsoft Corporation (1.97%), Amazon Com Inc (1.52%), and Taiwan Semiconductor Manufacturing Co Ltd (1.50%), suggesting a broadly diversified single-stock portfolio. The SBS Wealth World Equity Portfolio takes a fund-of-funds approach, allocating 47.43% to the Dimensional Global Sustainability PIE Fund (NZD Hedged) alone, with further slices in Schroder Global Emerging Markets, Munro Global Growth Climate Leaders, and Kernel Global Infrastructure funds. This layered structure introduces an additional sustainability and thematic tilt, and investors should consider whether underlying fund costs are captured within the disclosed 1.18% annual fund charge or sit alongside it.
On fees, ANZ charges 0.96% annually against SBS Wealth's 1.18%. Both carry a risk indicator of 5 and hold growth assets at near-identical levels — 98.37% and 98.31% respectively. The five-year return to the latest QFU snapshot shows SBS Wealth at 9.21% versus ANZ at 8.34%, though past performance is not a reliable indicator of future returns. Fund sizes are comparable: ANZ at approximately NZD 83 million, SBS Wealth at approximately NZD 94 million. Both sit outside KiwiSaver scheme account structures based on their respective PDS classifications.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
Comparison generated 2026-07-05 from each fund's FMA Disclose QFU facts as at that date. If the underlying facts change, this narrative is withheld until it is regenerated — the tables on this page always reflect the current data.
What's different at a glance
- ANZ Investments OneAnswer International Share Fund charges 0.22% lower in annual fund charges (0.96% 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 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
SBS Wealth
1.18%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
8.34%
Upper half over 5 years
SBS Wealth
9.21%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$83m
Lower half by size
SBS Wealth
NZ$94m
Lower half by size
| Metric | ANZ Investments | SBS Wealth | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.96% | 1.18% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 8.34% | 9.21% | Higher is better (past not future) |
| Fund size | NZ$83m | 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 | 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
2
of each fund's top 10
ANZ Investments weight in shared
6.6%
of ANZ Investments OneAnswer International Share Fund top 10 is shared
SBS Wealth weight in shared
4.5%
of SBS Wealth World Equity Portfolio top 10 is shared
| Holding | ANZ Investments | SBS Wealth |
|---|---|---|
 Nvidia Corporation US | 3.50% | 2.66% |
 Apple Inc US | 3.12% | 1.86% |
"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 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 →
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 Share Fund and the SBS Wealth World Equity Portfolio?
Which fund has lower fees, ANZ Investments OneAnswer International Share Fund or SBS Wealth World Equity Portfolio?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
