Fund-vs-fund · Australasian Equities

Fisher Funds Australian Growth Fund vs Smart Australian Financials ETF

Both are Australasian 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.

Fisher Funds

Fisher Funds Australian Growth Fund

PIE · capped at PIR (max 28%)

Smartshares

Smart Australian Financials ETF

PIE · capped at PIR (max 28%) ETF · ASF

What's different at a glance

Smart Australian Financials ETF charges 0.33% lower in annual fund charges (0.54% vs 0.87%).
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 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.

Annual fund charge

Lower is better

Fisher Funds

0.87%

Lower half of cohort

Smartshares

0.54%

Lower half of cohort

5-year return p.a.

Past performance — not a predictor

Fisher Funds

1.31%

Lower half over 5 years

Smartshares

14.26%

Top 1% over 5 years

Fund size

Larger = more stable, lower close-risk

Fisher Funds

NZ$77m

Upper half by size

Smartshares

NZ$65m

Lower half by size

Metric	Fisher Funds	Smartshares	Lower / higher is
Annual fund charge	0.87%	0.54%	Lower is better
Risk indicator (1–7)	5	6	Higher = more volatility
5-year return p.a.	1.31%	14.26%	Higher is better (past not future)
Fund size	NZ$77m	NZ$65m	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 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.

Sources: Fisher Funds on Sorted Smartshares on Sorted

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

of each fund's top 10

Fisher Funds weight in shared

9.9%

of Fisher Funds Australian Growth Fund top 10 is shared

Smartshares weight in shared

20.3%

of Smart Australian Financials ETF top 10 is shared

Holding	Fisher Funds	Smartshares	Min weight
Macquarie Group Limited AU	5.46%	8.06%	5.46%
ANZ Group Holdings Limited AU	4.45%	12.21%	4.45%

"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

Fisher Funds

Fisher Funds Australian Growth Fund

The fund focuses on growth of your investment over the long term by investing in quality Australian companies which can consistently produce increasing earnings

Full Fisher Funds Fisher Funds Australian Growth Fund profile →

Smartshares

Smart Australian Financials ETF

The Smart Australian Financials ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 200 Financials Ex-A-REIT Index. The Index is comprised of financial sector companies from the S&P/ASX 200 Index, but excludes Australian real estate investments trusts.

Full Smartshares Smart Australian Financials ETF profile →

Documents

Crawled directly from each manager's website. How we record provenance →

Fisher Funds

Live

Last verified 2026-05-08

Other Material Information

165 kB · file fingerprint recorded
Product Disclosure Statement

246 kB · file fingerprint recorded
Product Disclosure Statement

143 kB · file fingerprint recorded
Product Disclosure Statement

666 kB · file fingerprint recorded
Product Disclosure Statement

595 kB · file fingerprint recorded
Quarterly Fund Update

57 kB · file fingerprint recorded

Smartshares

Not yet crawled. View fund page for FMA Disclose link.

Common questions

What's the difference between the Fisher Funds Australian Growth Fund and the Smart Australian Financials ETF?

Both are australasian equities funds available to NZ retail investors. Smart Australian Financials ETF charges 0.33% lower in annual fund charges (0.54% vs 0.87%).

Which fund has lower fees, Fisher Funds Australian Growth Fund or Smart Australian Financials ETF?

Smart Australian Financials ETF has the lower annual fund charge (0.54% p.a. vs 0.87% p.a.). Source: each fund's most recent Quarterly Fund Update on the FMA Disclose register.

How do the 5-year returns compare?

Fisher Funds Australian Growth Fund's 5-year return p.a. is 1.31% and Smart Australian Financials ETF's is 14.26% (after fees, before tax). Past performance is not a reliable indicator of future returns.

Are both funds PIE-taxed in NZ?

Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.

Where can I read the official documents for these funds?

Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.

Not sure which fund is right for you?

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Important: This comparison is general information only — not personalised financial advice. Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.