Fund-vs-fund · Diversified
Booster Shielded Growth FundvsSBS Wealth Balanced Strategy
Booster Shielded Growth Fund (fund size NZ$14.6 million, annual fund charge 1.41%) and SBS Wealth Balanced Strategy (fund size NZ$17.1 million, annual fund charge 1.03%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 7.57% and 6.99%, per their quarterly fund updates filed on FMA Disclose.
How much do these two overlap?
They hold 54 of the same securities. If you held both, roughly 20.1% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Booster Shielded | SBS Wealth | Min weight |
|---|---|---|---|
| Fisher & Paykel Healthcare | 2.89% | 1.36% | 1.36% |
| Nvidia | 2.70% | 1.20% | 1.20% |
| Contact Energy | 1.12% | 0.98% | 0.98% |
| Meridian Energy | 0.94% | 0.94% | 0.94% |
| Infratil | 1.53% | 0.93% | 0.93% |
| Alphabet | 2.26% | 0.89% | 0.89% |
| Apple | 2.17% | 0.84% | 0.84% |
| Auckland International Airport | 1.78% | 0.75% | 0.75% |
| Amazon.com | 1.53% | 0.67% | 0.67% |
| JPMorgan Chase & Co | 0.79% | 0.64% | 0.64% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Why these two differ
The most material structural difference between these two funds is their asset allocation. The Booster Shielded Growth Fund holds 98.37% in growth assets, making it functionally an equity-heavy portfolio despite its "Diversified" category label. The SBS Wealth Balanced Strategy sits at 53.15% growth assets, a genuine balanced split between growth and income-oriented holdings. Both carry a risk indicator of 4 out of 7, though investors should weigh whether that shared rating adequately reflects the substantial divergence in underlying asset mix.
On fees, Booster charges 1.41% per annum against SBS Wealth's 1.03%, a 38 basis point difference that compounds meaningfully over time. For five-year returns, Booster reports 5.13% per annum; SBS Wealth's five-year return is not available in the current snapshot, so a like-for-like performance comparison cannot be made at this time.
Fund size is comparable — Booster at approximately NZD 14.6 million, SBS Wealth at approximately NZD 17.1 million — suggesting both are relatively small pools. Portfolio construction differs markedly: Booster's top holdings are individual equities and an ESG-screened US stock ETF, reflecting a stock-picking and ESG tilt, while SBS Wealth's top positions are collective funds spanning global equities and fixed interest, several with explicit sustainability mandates. Booster is a KiwiSaver scheme account fund; SBS Wealth is structured as an investment fund outside KiwiSaver.
Always verify fees, returns, and portfolio data against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
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
- SBS Wealth Balanced Strategy charges 0.38% lower in annual fund charges (1.03% vs 1.41%).
- 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 68 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Booster
1.41%
Highest 10% of cohort
SBS Wealth
1.03%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Booster
5.13%
Top 19% over 5 years
SBS Wealth
—
—
Fund size
Larger = more stable, lower close-risk
Booster
NZ$15m
Lower half by size
SBS Wealth
NZ$17m
Lower half by size
| Metric | Booster | SBS Wealth | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.41% | 1.03% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 5.13% | — | Higher is better (past not future) |
| Fund size | NZ$15m | NZ$17m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 53% / 47% | 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. |
What each fund says it does
Booster
Booster Shielded Growth Fund
The Shielded Growth Fund is suited to investors who seek potentially relatively high returns over longer term periods (seven years plus), allowing for short to medium term ups and downs, whilst partially shielding the fund against some of the more significant short-term risks. We aim to achieve this by investing predominantly in growth assets, with little or no allocation to income assets.Full Booster Booster Shielded Growth Fund profile →
SBS Wealth
SBS Wealth Balanced Strategy
The Strategy aims to achieve medium capital growth and returns over the medium to long term, with an emphasis on balancing capital growth with stable returns. The Strategy invests into the following SBS Wealth funds: 45% into the World Equity Portfolio; 15% into the Australasian Equity Portfolio; 25% into the World Bond Portfolio; and 15% into the New Zealand Bond Portfolio.Full SBS Wealth SBS Wealth Balanced Strategy profile →
Common questions
What's the difference between the Booster Shielded Growth Fund and the SBS Wealth Balanced Strategy?
Which fund has lower fees, Booster Shielded Growth Fund or SBS Wealth Balanced Strategy?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
