Fund-vs-fund · Australasian Equities
ANZ Investments OneAnswer New Zealand Share Fund vs Smart Australian Dividend ETF
Both are Australasian 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 geographic focus, which drives meaningfully different portfolio exposures despite sharing the same Australasian Equities category and an identical growth asset allocation of 98.31%. The ANZ Investments OneAnswer New Zealand Share Fund concentrates exclusively on New Zealand-listed equities, with its five largest holdings — Fisher and Paykel Healthcare (14.98%), Contact Energy (8.43%), Infratil (8.20%), Auckland International Airport (7.41%), and Mainfreight (5.50%) — all NZX-listed companies. The Smartshares Smart Australian Dividend ETF, as its name signals, targets Australian dividend-paying equities, holding Telstra (10.90%), Commonwealth Bank of Australia (9.76%), Transurban Group (9.37%), Wesfarmers (8.71%), and Santos (7.05%) as its top positions. This distinction creates materially different sector, currency, and income-profile exposures for investors.
Fee and return data diverge substantially. The ANZ fund carries a 1.05% annual fund charge against the Smartshares ETF's 0.54% — a 51 basis point gap. Over the five-year period captured in each fund's latest Quarterly Fund Update, the ANZ fund returned 0.34% per annum while the Smartshares ETF returned 10.24% per annum, though past performance is not indicative of future performance and the two funds' differing market exposures mean these figures are not directly comparable on a like-for-like basis. Fund sizes are broadly similar at approximately NZD 49.4 million and NZD 52.3 million respectively, and both carry a risk indicator of 5. Neither fund is a KiwiSaver scheme account. Readers should verify all figures against the source PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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
- Smart Australian Dividend ETF charges 0.51% lower in annual fund charges (0.54% vs 1.05%).
- 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 58 australasian 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
1.05%
Upper half of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
0.34%
Bottom 21% over 5 years
Smartshares
10.24%
Top 9% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$49m
Lower half by size
Smartshares
NZ$52m
Lower half by size
| Metric | ANZ Investments | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.05% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.34% | 10.24% | Higher is better (past not future) |
| Fund size | NZ$49m | NZ$52m | 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.
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer New Zealand Share Fund
The New Zealand Share Fund invests mainly in New Zealand equities. Investments may include equities in companies that are listed or intend to list on the New Zealand stock exchange, and cash and cash equivalents.The New Zealand 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 New Zealand Share Fund profile →
Smartshares
Smart Australian Dividend ETF
The Smart Australian Dividend ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX Dividend Opportunities Index. The Index is comprised of 50 high yielding companies listed on the ASX and included in the S&P/ASX 300 Index.Full Smartshares Smart Australian Dividend ETF profile →
Common questions
What's the difference between the ANZ Investments OneAnswer New Zealand Share Fund and the Smart Australian Dividend ETF?
Which fund has lower fees, ANZ Investments OneAnswer New Zealand Share Fund or Smart Australian Dividend ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
