Fund-vs-fund · International Equities
Evidential Sustainable Targeted Factor Fund vs Russell Investments Hedged Sustainable Global Shares Fund
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 annual fund charge: the Russell Investments Hedged Sustainable Global Shares Fund discloses a 0.33% fee, while the Evidential Sustainable Targeted Factor Fund discloses 0.62% — a gap of 29 basis points that compounds meaningfully over time on similar-sized portfolios. Both funds sit in the International Equities category, share an identical risk indicator of 5 (on a scale of 1–7), report virtually identical growth asset allocations of 98.31%, and hold comparable fund sizes (approximately NZD 768 million and NZD 773 million respectively). Neither fund discloses a five-year return figure in this snapshot, so historical performance comparisons are not possible here.
Where the funds diverge most visibly beyond fees is portfolio construction. Russell's fund carries heavy concentration in large-cap US technology names — NVIDIA (4.62%), Apple (4.26%), Microsoft (3.30%) — and notably includes an S&P 500 futures position (3.16%), suggesting index-replication or hedging mechanics consistent with its "hedged" label. Evidential's fund, by contrast, shows a highly dispersed holding structure with no single position above 0.68%, reflecting a factor-based approach that tilts away from market-cap concentration. Russell's currency hedging is signalled by its fund name; Evidential's currency treatment is not explicitly indicated in this data snapshot.
Five-year return figures are absent for both funds in this snapshot, limiting long-run performance comparison. Verify all figures against each fund's current PDS 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
- Russell Investments Hedged Sustainable Global Shares Fund charges 0.29% lower in annual fund charges (0.33% vs 0.62%).
- 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 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
Evidential
0.62%
Upper half of cohort
Russell Investments
0.33%
Lowest 22% of cohort
5-year return p.a.
Past performance — not a predictor
Evidential
—
—
Russell Investments
—
—
Fund size
Larger = more stable, lower close-risk
Evidential
NZ$773m
Largest 9% in cohort
Russell Investments
NZ$744m
Largest 10% in cohort
| Metric | Evidential | Russell Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.62% | 0.33% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$773m | NZ$744m | 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 | Yes | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | InvestNow | 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
Evidential
Evidential Sustainable Targeted Factor Fund
The fund invests in a diversified portfolio of small and medium capitalisation companies associated with global developed markets (excluding Australia and New Zealand), with an emphasis on companies that are expected to have higher returns. The fund also takes into account certain environmental and social considerations. The fund’s currency position is unhedged.Full Evidential Evidential Sustainable Targeted Factor Fund profile →
Russell Investments
Russell Investments Hedged Sustainable Global Shares Fund
The Fund invests predominantly in a broad range of international shares listed on stock exchanges in developed and emerging international markets. The Fund targets a lower carbon exposure, and higher Climate Solutions Revenue, compared to the Benchmark. The Fund also employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. Foreign currency exposures are largely hedged back to New Zealand dollars.Full Russell Investments Russell Investments Hedged Sustainable Global Shares Fund profile →
Common questions
What's the difference between the Evidential Sustainable Targeted Factor Fund and the Russell Investments Hedged Sustainable Global Shares Fund?
Which fund has lower fees, Evidential Sustainable Targeted Factor Fund or Russell Investments Hedged Sustainable Global Shares Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
