Fund-vs-fund · Australasian Equities
Harbour NZ Index Shares FundvsSimplicity NZ Share Fund
Harbour NZ Index Shares Fund (fund size NZ$679.5 million, annual fund charge 0.21%) and Simplicity NZ Share Fund (fund size NZ$1.42 billion, annual fund charge 0.10%) are both Australasian equities managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 4.32% and 4.32%, per their quarterly fund updates filed on FMA Disclose.
How much do these two overlap?
They hold 25 of the same securities. If you held both, roughly 68.6% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Harbour NZ | Simplicity NZ | Min weight |
|---|---|---|---|
| Infratil | 5.51% | 9.84% | 5.51% |
| a2 Milk | 5.19% | 7.26% | 5.19% |
| Meridian Energy | 5.15% | 6.33% | 5.15% |
| Contact Energy | 5.14% | 7.41% | 5.14% |
| Fisher & Paykel Healthcare | 4.98% | 17.92% | 4.98% |
| Auckland International Airport | 4.83% | 10.55% | 4.83% |
| Mainfreight | 4.86% | 4.34% | 4.34% |
| Mercury NZ | 4.99% | 3.79% | 3.79% |
| Chorus | 4.68% | 3.59% | 3.59% |
| Spark New Zealand | 4.50% | 3.45% | 3.45% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Harbour NZ Index Shares Fund
Simplicity NZ Share Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
The most material structural difference between these two funds is concentration risk. Simplicity NZ Share Fund's top holding, Fisher & Paykel Healthcare, accounts for 17.92% of the portfolio, with the top five positions together representing over 53% of the fund. Harbour NZ Index Shares Fund, by contrast, shows a notably flatter distribution, with its five largest holdings each sitting between 5.07% and 5.51% — a combined weight of roughly 26%. Both funds are categorised as Australasian Equities, carry a risk indicator of 5 on the standard 1–7 scale, and hold identical growth asset allocations of 98.31%, so the divergence in concentration is the sharpest structural distinction.
On fees, Simplicity charges 0.10% per annum versus Harbour's 0.21%, a difference of 11 basis points that compounds meaningfully over time. Fund size also differs substantially: Simplicity's fund stands at approximately NZD 1.42 billion, more than double Harbour's approximately NZD 679 million. The five-year return figures disclosed are 0.02% for Simplicity and 0.12% for Harbour, though readers should note that return periods, calculation methodologies, and any applicable tax treatments should be confirmed directly in each fund's Quarterly Fund Update before drawing conclusions. Both funds share a risk indicator of 5, reflecting "higher" risk on the FMA's standard scale.
Always verify all figures — including fees, returns, and holdings — against each fund's current 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
- 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 57 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 | Direct | Direct | Platforms accepting retail subscriptions. |
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
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?
