Fund-vs-fund · International Equities
BetaShares Global Sustainability Leaders Fund (NZD Hedged) vs Smart US Small Cap ETF
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 underlying exposure: the Smart US Small Cap ETF (Smartshares) invests almost entirely through a single wrapper — Vanguard Small-Cap ETF holds 99.93% of the portfolio — concentrating risk in US small-capitalisation equities. The BetaShares Global Sustainability Leaders Fund (NZD Hedged) instead holds a diversified basket of large-cap global equities screened against sustainability criteria, with its five largest positions (Broadcom, NVIDIA, Apple, Mastercard, Home Depot) each representing under 7% of the fund. This distinction in geography, market-cap segment, ESG screening, and currency treatment is fundamental: BetaShares applies NZD hedging to remove most foreign-exchange exposure, while Smartshares' fund carries unhedged USD risk.
Risk indicators diverge accordingly — Smartshares rates at 6 (higher volatility) versus BetaShares at 5 — consistent with small-cap US equities historically exhibiting wider return dispersion than large-cap global blends. Both funds sit at 98.31% growth assets and are similarly sized (approximately NZD 41.7 million and NZD 42.3 million respectively). The annual fund charge for Smartshares is 0.51%, compared with 0.79% for BetaShares. Smartshares discloses a five-year return of 10.35% per annum; BetaShares' five-year return figure is not available in this snapshot, likely reflecting the fund's shorter operating history in New Zealand. Neither fund is a KiwiSaver scheme account product based on the data provided.
Verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any of this information.
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 US Small Cap ETF charges 0.28% lower in annual fund charges (0.51% vs 0.79%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- BetaShares Global Sustainability Leaders Fund (NZD Hedged) applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
BetaShares
0.79%
Upper half of cohort
Smartshares
0.51%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
BetaShares
—
—
Smartshares
7.59%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
BetaShares
NZ$42m
Lower half by size
Smartshares
NZ$44m
Lower half by size
| Metric | BetaShares | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.79% | 0.51% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | — | 7.59% | Higher is better (past not future) |
| Fund size | NZ$42m | NZ$44m | 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 | Yes | No | Specific exclusions live in each fund's SIPO. |
| Available via | InvestNow · Direct | InvestNow · Sharesies · 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
BetaShares
BetaShares Global Sustainability Leaders Fund (NZD Hedged)
The fund aims to provide an investment return that tracks the performance of the Nasdaq Future Global Sustainability Leaders Currency Hedged NZD Index, before taking into account fees and expenses.Full BetaShares BetaShares Global Sustainability Leaders Fund (NZD Hedged) profile →
Smartshares
Smart US Small Cap ETF
The Smart US Small Cap ETF is designed to track the return (before tax, fees and other expenses) of the CRSP US Small Cap Index. The Index is comprised of small US companies.Full Smartshares Smart US Small Cap ETF profile →
Common questions
What's the difference between the BetaShares Global Sustainability Leaders Fund (NZD Hedged) and the Smart US Small Cap ETF?
Which fund has lower fees, BetaShares Global Sustainability Leaders Fund (NZD Hedged) or Smart US Small Cap ETF?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
