Fund-vs-fund · International Equities
Evidential Sustainable Targeted Factor FundvsRussell Investments Hedged Sustainable Global Shares Fund
Evidential Sustainable Targeted Factor Fund (fund size NZ$773.0 million, annual fund charge 0.62%) and Russell Investments Hedged Sustainable Global Shares Fund (fund size NZ$744.0 million, annual fund charge 0.33%) are both international equities 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 14.51% and 15.69%, per their quarterly fund updates filed on FMA Disclose.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Evidential Sustainable Targeted Factor Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Russell Investments Hedged Sustainable Global Shares Fund
Why these two differ
Russell Investments Hedged Sustainable Global Shares Fund and Evidential Sustainable Targeted Factor Fund are both international equity funds with matching risk indicators (5) and growth asset allocations (98.31%), but differ materially in fee structure and portfolio construction philosophy.
Russell Investments charges 0.33% annually, while Evidential charges 0.62%—nearly double. For a $100,000 investment over ten years, this 0.29 percentage-point gap compounds substantially. Both funds are comparable in size: Russell at $744 million and Evidential at $773 million.
The most significant structural difference lies in their holding strategies. Russell's portfolio is concentrated, with its top five holdings representing roughly 16.5% of assets combined. The top three—Nvidia, Apple, and Microsoft—each exceed 2.8% weighting. Evidential employs a "targeted factor" approach with substantially greater diversification: its top five holdings each represent less than 0.7% of the fund, suggesting a dispersed strategy across many positions designed to target specific investment factors rather than track a broad index.
Russell applies currency hedging (as stated in its fund name), which protects against NZD strength/weakness relative to foreign holdings. Evidential's hedging approach is not evident from the available data snapshot.
Five-year performance data is unavailable for both funds in this snapshot. Verify the latest Product Disclosure Statement and Quarterly Fund Update on FMA Disclose before making any investment decision.
Comparison generated 2026-10-12 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 84 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%
Lower half of cohort
Russell Investments
0.33%
Lowest 20% 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?
