Fund-vs-fund · Australasian Equities
Harbour NZ Index Shares Fund vs Simplicity NZ Share Fund
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.
Why these two differ
The most material structural difference between these two funds is concentration risk. The Simplicity NZ Share Fund allocates its top five holdings at weights ranging from 7.26% to 17.92%, with Fisher & Paykel Healthcare alone comprising nearly 18% of the portfolio. The Harbour NZ Index Shares Fund, by contrast, distributes its top five holdings in a much tighter band of 4.90% to 5.21%, suggesting a more evenly weighted index construction. Both funds sit in the Australasian Equities category, carry a risk indicator of 5, and hold an identical growth assets allocation of 98.31%, so the structural divergence lies squarely in how individual stock exposure is managed.
On fees, Simplicity discloses an annual fund charge of 0.10%, compared with Harbour's 0.21% — a difference that compounds over time. Fund size also differs materially: Simplicity's fund stands at approximately NZD 1.42 billion, roughly double Harbour's NZD 720 million.
The five-year return figures in this snapshot show 0.02% for Simplicity and 0.81% for Harbour, though the precise calculation periods and whether these are annualised or cumulative figures are not confirmed in the data provided here, so direct comparison requires caution.
Both funds share several NZX names — Fisher & Paykel Healthcare, Auckland International Airport, and A2 Milk — but their relative weights differ considerably, reflecting different index methodologies or portfolio construction rules.
Always verify these figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Simplicity NZ Share Fund charges 0.11% lower in annual fund charges (0.10% vs 0.21%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Simplicity NZ Share Fund is roughly 2.1× the size of the other fund.
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
Harbour
0.21%
Lowest 4% of cohort
Simplicity
0.10%
Lowest 1% of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
0.12%
Bottom 7% over 5 years
Simplicity
0.02%
Bottom 4% over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$679m
Largest 4% in cohort
Simplicity
NZ$1.42b
Largest 1% in cohort
| Metric | Harbour | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.21% | 0.10% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.12% | 0.02% | Higher is better (past not future) |
| Fund size | NZ$679m | NZ$1.42b | 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 | InvestNow · 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.
Matching holdings
9
of each fund's top 10
Harbour weight in shared
45.3%
of Harbour NZ Index Shares Fund top 10 is shared
Simplicity weight in shared
71.0%
of Simplicity NZ Share Fund top 10 is shared
| Holding | Harbour | Simplicity |
|---|---|---|
 Infratil NZ | 5.51% | 9.84% |
 A2 Milk Company NZ | 5.19% | 7.26% |
 Meridian Energy NZ | 5.15% | 6.33% |
 Contact Energy NZ | 5.14% | 7.41% |
 Fisher & Paykel Healthcare NZ | 4.98% | 17.92% |
 Auckland International Airport NZ | 4.83% | 10.55% |
 Mainfreight NZ | 4.86% | 4.34% |
 Mercury NZ NZ | 4.99% | 3.79% |
 Chorus NZ | 4.68% | 3.59% |
"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
Harbour
Harbour NZ Index Shares Fund
The Harbour NZ Index Shares Fund is a passive Fund managed against companies in the S&P/ NZX 50 Portfolio Index.Full Harbour Harbour NZ Index Shares Fund profile →
Simplicity
Simplicity NZ Share Fund
The NZ Share Fund invests in securities listed on the New Zealand stock exchange (NZX), designed to be the New Zealand share component of a diversified investment portfolio.Full Simplicity Simplicity NZ Share Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 9 more on the fund page
Simplicity
Common questions
What's the difference between the Harbour NZ Index Shares Fund and the Simplicity NZ Share Fund?
Which fund has lower fees, Harbour NZ Index Shares Fund or Simplicity NZ Share Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
