Fund-vs-fund · International Equities
Foundation Series Total World Fund vs Harbour T. Rowe Price Global Equity 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 their investment approach and, directly connected to it, their fee levels. The Foundation Series Total World Fund holds a single asset — the Vanguard Total World Stock ETF — giving investors broad, passive market-cap-weighted exposure to global equities at an annual fund charge of 0.07%. The Harbour T. Rowe Price Global Equity Fund employs active stock selection through sub-adviser T. Rowe Price, with a concentrated set of disclosed top holdings including NVIDIA (5.68%), Alphabet (4.08%), Apple (3.99%), and Microsoft (2.86%); its annual fund charge is 1.21%, a difference of 1.14 percentage points annually.
Both funds sit at risk indicator 5 on the standard 1–7 scale and carry near-identical growth asset allocations of 98.31%. Fund sizes are comparable — Foundation Series at approximately NZD 514 million and Harbour at approximately NZD 599 million.
On performance history, the Harbour fund discloses a five-year annualised return of 5.66%; the Foundation Series fund's five-year return is not available in this snapshot, likely reflecting its shorter operating history, so a like-for-like return comparison cannot be made here. Neither fund is a KiwiSaver scheme account fund based on the data provided.
The fee gap and passive-versus-active construction are the key variables for investors weighing these options. 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 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
- Foundation Series Total World Fund charges 1.14% lower in annual fund charges (0.07% vs 1.21%).
- 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
Foundation Series
0.07%
Lowest 5% of cohort
Harbour
1.21%
Highest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Foundation Series
—
—
Harbour
5.66%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Foundation Series
NZ$514m
Largest 15% in cohort
Harbour
NZ$599m
Largest 14% in cohort
| Metric | Foundation Series | Harbour | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.07% | 1.21% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 5.66% | Higher is better (past not future) |
| Fund size | NZ$514m | NZ$599m | 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
Foundation Series
Foundation Series Total World Fund
The fund aims for high long-run returns by investing in an Exchange-Traded Fund ('ETF') that invests in shares of the large, mid-sized and small companies listed on international stock markets.Full Foundation Series Foundation Series Total World Fund profile →
Harbour
Harbour T. Rowe Price Global Equity Fund
The Fund invests primarily in a portfolio of securities of companies which are traded, listed or due to be listed, on recognised exchanges and/or markets throughout the world. It may include securities of companies traded on recognised exchanges of developing countries.Full Harbour Harbour T. Rowe Price Global Equity Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Foundation Series
LiveLast verified 2026-05-08
Harbour
LiveLast verified 2026-05-08
Common questions
What's the difference between the Foundation Series Total World Fund and the Harbour T. Rowe Price Global Equity Fund?
Which fund has lower fees, Foundation Series Total World Fund or Harbour T. Rowe Price Global Equity Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
