Fund-vs-fund · Australasian Equities
BetaShares Australia 200 Fund vs Kernel Australia 100 Fund
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.
What's different at a glance
- Annual fund charges are within 0.05% of each other (0.23% vs 0.25%).
- 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
BetaShares
0.23%
Lowest 6% of cohort
Kernel
0.25%
Lowest 10% of cohort
5-year return p.a.
Past performance — not a predictor
BetaShares
—
—
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
BetaShares
NZ$54m
Lower half by size
Kernel
NZ$53m
Lower half by size
| Metric | BetaShares | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.23% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$54m | NZ$53m | 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
4
of each fund's top 10
BetaShares weight in shared
11.4%
of BetaShares Australia 200 Fund top 10 is shared
Kernel weight in shared
12.2%
of Kernel Australia 100 Fund top 10 is shared
| Holding | BetaShares | Kernel |
|---|---|---|
| WE Wesfarmers AU | 3.22% | 3.50% |
 Macquarie Group AU | 2.97% | 3.03% |
 CSL AU | 2.66% | 2.89% |
| WE Woodside Energy Group AU | 2.59% | 2.82% |
"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
BetaShares
BetaShares Australia 200 Fund
The fund aims to provide an investment return that tracks the performance of the Solactive Australia 200 Index, before taking into account fees and expenses.Full BetaShares BetaShares Australia 200 Fund profile →
Kernel
Kernel Australia 100 Fund
The Kernel Australia 100 Fund�s investment objective is to provide a return (before tax, fees and expenses) that closely matches the return on the S&P/ASX 100 Index.Full Kernel Kernel Australia 100 Fund profile →
Common questions
What's the difference between the BetaShares Australia 200 Fund and the Kernel Australia 100 Fund?
Which fund has lower fees, BetaShares Australia 200 Fund or Kernel Australia 100 Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
