Fund-vs-fund · Australasian Equities
Kernel NZ 20 Fund vs Kernel NZ 50 ESG Tilted 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.
What's different at a glance
- Annual fund charges are within 0.05% of each other (0.25% vs 0.25%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Kernel NZ 50 ESG Tilted Fund applies responsible-investment / ESG screening. The other fund does not.
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
Kernel
0.25%
Lowest 10% of cohort
Kernel
0.25%
Lowest 10% of cohort
5-year return p.a.
Past performance — not a predictor
Kernel
—
—
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
Kernel
NZ$2m
Smallest 4% in cohort
Kernel
NZ$1m
Smallest 3% in cohort
| Metric | Kernel | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.25% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$2m | NZ$1m | 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.
Matching holdings
5
of each fund's top 10
Kernel weight in shared
50.7%
of Kernel NZ 20 Fund top 10 is shared
Kernel weight in shared
37.9%
of Kernel NZ 50 ESG Tilted Fund top 10 is shared
| Holding | Kernel | Kernel |
|---|---|---|
 Fisher & Paykel Healthcare Corp Ltd NZ | 14.87% | 10.46% |
 Auckland International Airport NZ | 12.79% | 7.95% |
 Contact Energy Ltd NZ | 8.33% | 7.08% |
 Meridian Energy NZ | 6.77% | 7.90% |
 The a2 Milk Company Ltd NZ | 7.93% | 4.48% |
"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
Kernel
Kernel NZ 20 Fund
The fund is passively managed and invests in financial products listed on the NZX and is designed to track the S&P/NZX 20 Index.Full Kernel Kernel NZ 20 Fund profile →
Kernel
Kernel NZ 50 ESG Tilted Fund
The Kernel NZ 50 ESG Tilted tracks the S&P/NZX 50 Portfolio ESG Tilted Index. Using the internationally acclaimed Corporate Sustainability Assessment from S&P Dow Jones, each company included in the S&P/NZX 50 Portfolio Index is given an ESG score and re-weighted accordinglyFull Kernel Kernel NZ 50 ESG Tilted Fund profile →
Common questions
What's the difference between the Kernel NZ 20 Fund and the Kernel NZ 50 ESG Tilted Fund?
Which fund has lower fees, Kernel NZ 20 Fund or Kernel NZ 50 ESG Tilted Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
