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 geographic focus, which drives divergent return outcomes despite a shared category label. The Smart Australian Dividend ETF (Smartshares) targets Australian dividend-paying equities — its top holdings include Telstra Group, Wesfarmers, Transurban Group, Commonwealth Bank of Australia, and Westpac Banking Corp — while the ANZ Investments OneAnswer New Zealand Share Fund concentrates exclusively on New Zealand-listed companies, with Fisher & Paykel Healthcare, Contact Energy, Infratil, Auckland International Airport, and Mainfreight among its largest positions. Both sit within the same Australasian Equities category and carry an identical risk indicator of 5 out of 7, and both hold growth assets at 98.31%.
Fee structures differ meaningfully: the Smartshares fund discloses an annual fund charge of 0.54%, compared with 1.05% for the ANZ Investments fund — a 51-basis-point gap that compounds over time. The five-year return figures show a wide divergence as well: 9.27% per annum for the Smartshares fund versus 0.03% per annum for the ANZ Investments fund, though this partly reflects the differing underlying markets rather than manager skill alone. Fund sizes are broadly comparable — NZD 47.5 million and NZD 53.7 million respectively. Neither fund is a KiwiSaver scheme account product based on the data provided, though investors should confirm this against source documents.
Always verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before making 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
- 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?
