Fund-vs-fund · International Equities
Foundation Series Nasdaq-100 Fund vs Smart Europe ESG 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 underlying market exposure. The Foundation Series Nasdaq-100 Fund holds 100% in the Invesco NASDAQ 100 ETF, concentrating entirely in large-cap US technology-dominated companies. The Smart Europe ESG ETF holds 99.95% in the iShares MSCI Europe ESG Screened UCITS ETF, providing broad European equity exposure filtered through an ESG screen that excludes certain sectors and companies on environmental, social, and governance criteria. Investors seeking US growth-sector concentration and those seeking ESG-screened European diversification are therefore looking at fundamentally different geographic and ethical profiles within the same International Equities category.
On fees, the Foundation Series fund charges 0.15% annually, meaningfully lower than the Smart Europe ESG ETF's 0.55%. Both funds carry an identical growth assets allocation of 98.31%, but their risk indicators differ: the Nasdaq-100 fund is rated 6 (higher volatility) against Smart Europe ESG's rating of 5 (moderate-to-high). This is consistent with the Nasdaq-100's heavier technology concentration.
For performance context, Smart Europe ESG discloses a five-year annualised return of 10.92%; the Foundation Series Nasdaq-100 Fund's five-year return is not available in this snapshot, likely reflecting the fund's shorter operating history. Fund sizes are comparable — NZ$25.9 million and NZ$23.8 million respectively.
Always verify current fees, returns, and fund details against each fund's product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any figures here.
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
- Foundation Series Nasdaq-100 Fund charges 0.40% lower in annual fund charges (0.15% vs 0.55%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Smart Europe ESG ETF applies responsible-investment / ESG screening. The other fund does not.
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
Foundation Series
0.15%
Lowest 9% of cohort
Smartshares
0.55%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Foundation Series
—
—
Smartshares
10.92%
Top 24% over 5 years
Fund size
Larger = more stable, lower close-risk
Foundation Series
NZ$26m
Smallest 23% in cohort
Smartshares
NZ$24m
Smallest 21% in cohort
| Metric | Foundation Series | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.15% | 0.55% | Lower is better |
| Risk indicator (1–7) | 6 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 10.92% | Higher is better (past not future) |
| Fund size | NZ$26m | NZ$24m | 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 | 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
Foundation Series
Foundation Series Nasdaq-100 Fund
The Fund aims for high long-run returns by investing in an ETF that invests in shares of the largest non-financial companies listed on the Nasdaq stock exchange.Full Foundation Series Foundation Series Nasdaq-100 Fund profile →
Smartshares
Smart Europe ESG ETF
The Smart Europe ESG ETF is designed to track the return (before tax, fees and other expenses) of the MSCI Europe Screened Index. The Index is comprised of European companies screened for exposure to controversial weapons, civilian firearms, tobacco, thermal coal and oil sands. The Index excludes companies that fail to comply with the United Nations Global Compact Principles. For more information, please refer to the Smart Responsible Investment Policy.Full Smartshares Smart Europe ESG ETF profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Foundation Series
LiveLast verified 2026-05-08
Smartshares
Common questions
What's the difference between the Foundation Series Nasdaq-100 Fund and the Smart Europe ESG ETF?
Which fund has lower fees, Foundation Series Nasdaq-100 Fund or Smart Europe ESG ETF?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
