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 investment approach. The Smart US Small Cap ETF (Smartshares) allocates 99.8% of its portfolio to a single holding — the Vanguard Small-Cap ETF — giving investors concentrated, pass-through exposure to US small-capitalisation equities with no currency hedging or ESG screen implied by the structure. The BetaShares Global Sustainability Leaders Fund (NZD Hedged) holds a diversified basket of individual global equities filtered through a sustainability screen, with its top five positions — Broadcom, NVIDIA, Apple, Mastercard, and Home Depot — collectively representing roughly 24% of the fund, and applies NZD hedging to reduce currency volatility.
On fees, the Smartshares fund charges 0.51% annually versus 0.79% for BetaShares, a 28-basis-point gap on comparable fund sizes (NZD 44.0m and NZD 42.3m respectively). Risk indicators diverge meaningfully: Smartshares sits at 6 (higher volatility) against BetaShares at 5, consistent with small-cap equity exposure carrying more price variability than a hedged large-cap blend. Both funds are classified at 98.31% growth assets.
The five-year return for BetaShares is not available in this snapshot — the field is null, likely reflecting the fund's shorter track record — while Smartshares reports 7.59% per annum over five years. Investors cannot make a like-for-like return comparison on that basis.
Verify all figures against each fund's current 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 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 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
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 | 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
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?
