Fund-vs-fund · Diversified
Booster Wealth Growth Fund vs Clarity Diversified Growth Fund
Both are Diversified 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 diversified funds is their growth asset allocation. The Clarity Diversified Growth Fund holds 98.31% in growth assets, making it almost entirely equity-oriented, while the Booster Wealth Growth Fund allocates 78.48% to growth assets, retaining a more meaningful defensive component. Both funds carry a risk indicator of 4 on the standard 1–7 scale, though that shared rating may not fully reflect the gap in growth exposure.
Fee levels also diverge. Clarity charges an annual fund charge of 1.16%, compared with Booster's 0.91% — a 25 basis point difference that compounds over time. Clarity discloses a five-year return of 7.92% per annum; Booster's five-year return figure is not available in this snapshot, so direct historical performance comparison is not possible here.
Portfolio construction differs meaningfully too. Clarity concentrates its top two positions in two share classes of the Capital Group New Perspective Fund, together representing roughly 25.7% of the portfolio — a fund-of-funds approach to global equities. Booster's top holdings are individual securities spanning NZ and global equities, with no single position above 3.63%. Clarity holds 7.65% in NZD cash despite its near-total growth weighting; Booster holds 3.63% in cash. Fund size is similar: Clarity at NZD 8.77 million, Booster at NZD 7.23 million — both relatively small pools by industry standards.
Verify all details 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
- Booster Wealth Growth Fund charges 0.25% lower in annual fund charges (0.91% vs 1.16%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Booster
0.91%
Lower half of cohort
Clarity
1.16%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Booster
—
—
Clarity
7.92%
Top 1% over 5 years
Fund size
Larger = more stable, lower close-risk
Booster
NZ$7m
Smallest 13% in cohort
Clarity
NZ$9m
Smallest 16% in cohort
| Metric | Booster | Clarity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.91% | 1.16% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 7.92% | Higher is better (past not future) |
| Fund size | NZ$7m | NZ$9m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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 | InvestNow · 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
Booster weight in shared
9.3%
of Booster Wealth Growth Fund top 10 is shared
Clarity weight in shared
12.4%
of Clarity Diversified Growth Fund top 10 is shared
| Holding | Booster | Clarity |
|---|---|---|
| NC NZ Cash (BNZ Bank Trust Account) NZ | 3.63% | 7.65% |
 NVIDIA Corp US | 2.34% | 1.43% |
 Meridian Energy Limited NZ | 1.34% | 2.02% |
 Apple Inc US | 2.00% | 1.30% |
"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
Booster
Booster Wealth Growth Fund
The Wealth Growth Fund is suited to investors who seek potentially relatively high returns on average over longer term periods (seven years plus), allowing for short to medium term ups and downs, whilst excluding investments which do not satisfy certain responsible investment criteria. We aim to achieve this by investing primarily in growth assets, with a moderate allocation of income assets, and the application of our Approach to Responsible Investing policy.Full Booster Booster Wealth Growth Fund profile →
Clarity
Clarity Diversified Growth Fund
The Fund will provide actively managed exposure to New Zealand, Australian and international equities, and aims to generate a better return than the benchmark over the medium to long term. The Fund primarily invests in managed funds (including other Clarity funds) to achieve a well-diversified portfolio of assets.Full Clarity Clarity Diversified Growth Fund profile →
Common questions
What's the difference between the Booster Wealth Growth Fund and the Clarity Diversified Growth Fund?
Which fund has lower fees, Booster Wealth Growth Fund or Clarity Diversified Growth Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
