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 cost: the Russell Investments Hedged Sustainable Global Shares Fund discloses an annual fund charge of 0.33%, while the Evidential Sustainable Targeted Factor Fund discloses 0.62% — a gap of 29 basis points that compounds meaningfully over time on a similar asset base.
Both funds sit in the International Equities category, carry a risk indicator of 5 out of 7, and hold virtually identical growth asset allocations of 98.31%. Fund sizes are comparable — Russell at NZD 744 million and Evidential at NZD 773 million — suggesting neither is thinly capitalised. Neither fund discloses a five-year return figure in the current snapshot, so historical performance cannot be compared here.
The portfolio construction philosophy diverges sharply. The Russell fund concentrates its top five holdings in mega-cap US technology names — Nvidia (4.65%), Apple (4.16%), and Microsoft (2.86%) — and includes an S&P 500 futures position, suggesting a market-capitalisation-weighted or index-tilted approach with currency hedging as indicated by the fund name. The Evidential fund's top holdings are more dispersed, with PayPal at just 0.68% and no single position above 1%, consistent with a factor-based strategy targeting characteristics such as value, quality, or momentum across a broader universe.
The currency hedging disclosed in the Russell fund name is absent as a stated feature of the Evidential fund; investors sensitive to NZD/foreign currency movements should review each fund's SIPO for clarification.
Always verify fees, holdings, and strategy details against the source 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
- 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 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
Evidential
0.62%
Upper half of cohort
Russell Investments
0.33%
Lowest 21% 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 | 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
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?
