Fund-vs-fund · International Equities
Fisher Funds International Growth Fund vs Smart Automation and Robotics ETF
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 construction approach. The Fisher Funds International Growth Fund is an actively managed, directly held equity portfolio, while the Smart Automation and Robotics ETF is a single-holding passthrough vehicle — 99.95% of its assets sit in the iShares Automation & Robotics UCITS ETF, making it effectively a wrapper around a third-party index product. This means Smart Automation and Robotics carries an additional layer of underlying fund costs beyond its disclosed 0.75% annual fund charge, whereas Fisher Funds discloses 1.31% as its annual fund charge for direct active management.
Both funds carry a risk indicator of 6 out of 7 and hold 98.31% in growth assets, so their risk profile classification is identical. Fund size is comparable — Fisher Funds International Growth at approximately NZD 74 million versus Smart Automation and Robotics at approximately NZD 65 million.
The five-year return figures diverge sharply: Smart Automation and Robotics returned 7.04% per annum against Fisher Funds International Growth's 0.26% per annum, though past returns do not predict future performance and the thematic automation/robotics mandate concentrates sector exposure differently from Fisher's diversified active picks across Microsoft, Amazon, Mastercard, Meta, and Tencent. Neither fund is structured as a KiwiSaver scheme account.
Readers should verify all figures — including any updated fee disclosures and the iShares underlying fund's costs — against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- Smart Automation and Robotics ETF charges 0.56% lower in annual fund charges (0.75% vs 1.31%).
- 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
Fisher Funds
1.31%
Highest 13% of cohort
Smartshares
0.75%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
0.26%
Bottom 3% over 5 years
Smartshares
7.04%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$74m
Lower half by size
Smartshares
NZ$65m
Lower half by size
| Metric | Fisher Funds | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.31% | 0.75% | Lower is better |
| Risk indicator (1–7) | 6 | 6 | Higher = more volatility |
| 5-year return p.a. | 0.26% | 7.04% | Higher is better (past not future) |
| Fund size | NZ$74m | 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. |
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
Fisher Funds
Fisher Funds International Growth Fund
The fund focuses on growth of your investment over the long term by investing in quality international companies which can consistently produce increasing earningsFull Fisher Funds Fisher Funds International Growth Fund profile →
Smartshares
Smart Automation and Robotics ETF
The Smart Automation and Robotics ETF is designed to track the return (before tax, fees and other expenses) of the STOXX® Global Automation & Robotics Index. The Index is comprised of stocks from developed and emerging market companies from sectors associated with the development of automatic and robotic technology.Full Smartshares Smart Automation and Robotics ETF profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
Smartshares
Common questions
What's the difference between the Fisher Funds International Growth Fund and the Smart Automation and Robotics ETF?
Which fund has lower fees, Fisher Funds International Growth Fund or Smart Automation and Robotics ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
