Fund-vs-fund · Australasian Equities
Kernel NZ 50 ESG Tilted Fund vs Kernel NZ Small & Mid Cap Opportunities 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$1m
Smallest 3% in cohort
Kernel
NZ$863k
Smallest 1% 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$1m | NZ$863k | 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 | Yes | 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.
Matching holdings
1
of each fund's top 10
Kernel weight in shared
4.4%
of Kernel NZ 50 ESG Tilted Fund top 10 is shared
Kernel weight in shared
5.4%
of Kernel NZ Small & Mid Cap Opportunities Fund top 10 is shared
| Holding | Kernel | Kernel |
|---|---|---|
 Fonterra Shareholders' Fund NZ | 4.36% | 5.43% |
"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 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 →
Kernel
Kernel NZ Small & Mid Cap Opportunities Fund
The fund is passively managed and invests in NZX listed financial products whose normal free-float market capitalisation is between $75 million and $1.25 billion and who are outside of the S&P/NZX 20 IndexFull Kernel Kernel NZ Small & Mid Cap Opportunities Fund profile →
Common questions
What's the difference between the Kernel NZ 50 ESG Tilted Fund and the Kernel NZ Small & Mid Cap Opportunities Fund?
Which fund has lower fees, Kernel NZ 50 ESG Tilted Fund or Kernel NZ Small & Mid Cap Opportunities 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?
