Fund-vs-fund · International Equities
BetaShares Global Sustainability Leaders Fund (NZD Hedged) vs Summer Global Equities
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 fee level and the resulting performance data available for comparison. Summer Global Equities charges an annual fund charge of 1.02%, while BetaShares Global Sustainability Leaders Fund (NZD Hedged) charges 0.79% — a 23 basis point gap that compounds meaningfully over time. Summer discloses a five-year return of 6.87% per annum; BetaShares' five-year return figure is not available in our snapshot, making a like-for-like performance comparison impossible at this time.
Both funds sit at risk indicator 5 on the standard 1–7 scale and hold near-identical growth asset weightings — 98.37% and 98.31% respectively — confirming broadly similar risk profiles despite different construction approaches. Fund sizes are closely matched at approximately NZD 43.3 million (Summer) and NZD 42.3 million (BetaShares).
The portfolio construction differs notably. Summer holds Vanguard ESG ETFs as its largest positions, giving it a fund-of-funds character at the top of the book alongside individual equities such as Amazon, Uber, and Mastercard. BetaShares holds direct equity positions, with Broadcom, NVIDIA, and Apple occupying the top three slots, followed by Mastercard and Home Depot. Both funds apply sustainability or ESG screens, though the precise screening methodology and exclusion criteria differ between managers and should be reviewed in each fund's Statement of Investment Policy and Objectives. BetaShares also applies NZD currency hedging; Summer's hedging policy is not detailed in this snapshot.
Neither fund is operated as a KiwiSaver scheme account under this data. 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
- BetaShares Global Sustainability Leaders Fund (NZD Hedged) charges 0.23% lower in annual fund charges (0.79% vs 1.02%).
- 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
Summer
1.02%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
BetaShares
—
—
Summer
6.87%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
BetaShares
NZ$42m
Lower half by size
Summer
NZ$43m
Lower half by size
| Metric | BetaShares | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.79% | 1.02% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 6.87% | Higher is better (past not future) |
| Fund size | NZ$42m | NZ$43m | 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 | 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
2
of each fund's top 10
BetaShares weight in shared
7.6%
of BetaShares Global Sustainability Leaders Fund (NZD Hedged) top 10 is shared
Summer weight in shared
3.5%
of Summer Global Equities top 10 is shared
| Holding | BetaShares | Summer |
|---|---|---|
 Apple Inc US | 4.25% | 1.90% |
 Mastercard Inc US | 3.39% | 1.56% |
"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 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 →
Summer
Summer Global Equities
The Summer Global Equities fund invests in international shares. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the MSCI ACWI Net Total Return Index, 50% hedged to the New Zealand dollar.Full Summer Summer Global Equities profile →
Common questions
What's the difference between the BetaShares Global Sustainability Leaders Fund (NZD Hedged) and the Summer Global Equities?
Which fund has lower fees, BetaShares Global Sustainability Leaders Fund (NZD Hedged) or Summer Global Equities?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
