Fund-vs-fund · Australasian Equities
Hyperion Australian Growth Companies PIE Fund vs Smart Australian Dividend ETF
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 investment philosophy, reflected in their holdings. The Smartshares Smart Australian Dividend ETF concentrates on established income-oriented Australian businesses — Telstra, Commonwealth Bank, Transurban, Wesfarmers, and Santos — consistent with a dividend-focused passive or rules-based approach. The Hyperion Australian Growth Companies PIE Fund holds a markedly different mix: BHP, Fisher & Paykel Healthcare, Sigma Pharmaceuticals, Block Inc., and Macquarie Group, signalling a growth-oriented active selection strategy spanning healthcare, fintech, and financials alongside resources.
Fee structures diverge meaningfully. The Smartshares fund charges 0.54% per annum; Hyperion charges 0.98% — a difference of 44 basis points that compounds materially over time. Both funds carry identical growth asset allocations of 98.31%, so the asset-class split is not a differentiating factor here.
Risk indicators differ by one band: Smartshares sits at 5 (out of 7) while Hyperion is rated 6, indicating higher expected volatility for the Hyperion fund according to the standard FMA risk indicator methodology.
The Smartshares fund reports a five-year annualised return of 10.24%. Hyperion's five-year return figure is not available in this snapshot — readers should check the latest Quarterly Fund Update on FMA Disclose directly for current performance data. Fund sizes are broadly comparable: NZD 52.3 million (Smartshares) versus NZD 54.7 million (Hyperion).
Always verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on 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
- Smart Australian Dividend ETF charges 0.44% lower in annual fund charges (0.54% vs 0.98%).
- 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 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
Hyperion
0.98%
Lower half of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Hyperion
—
—
Smartshares
10.24%
Top 9% over 5 years
Fund size
Larger = more stable, lower close-risk
Hyperion
NZ$55m
Lower half by size
Smartshares
NZ$52m
Lower half by size
| Metric | Hyperion | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.98% | 0.54% | Lower is better |
| Risk indicator (1–7) | 6 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 10.24% | Higher is better (past not future) |
| Fund size | NZ$55m | NZ$52m | 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
Hyperion
Hyperion Australian Growth Companies PIE Fund
The Fund invests primarily in growth-oriented Australian listed companies included in the S&P/ASX 300 Index at the time of initial investment and will also have some exposure to cash.Full Hyperion Hyperion Australian Growth Companies PIE Fund profile →
Smartshares
Smart Australian Dividend ETF
The Smart Australian Dividend ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX Dividend Opportunities Index. The Index is comprised of 50 high yielding companies listed on the ASX and included in the S&P/ASX 300 Index.Full Smartshares Smart Australian Dividend ETF profile →
Common questions
What's the difference between the Hyperion Australian Growth Companies PIE Fund and the Smart Australian Dividend ETF?
Which fund has lower fees, Hyperion Australian Growth Companies PIE Fund or Smart Australian Dividend ETF?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
