Fund-vs-fund · Australasian Equities
Kernel NZ 50 ESG Tilted 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.
What's different at a glance
- Kernel NZ 50 ESG Tilted Fund charges 0.29% lower in annual fund charges (0.25% vs 0.54%).
- 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.
- Smart Australian Dividend ETF is roughly 35.6× 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
Kernel
0.25%
Lowest 10% of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Kernel
—
—
Smartshares
10.24%
Top 9% over 5 years
Fund size
Larger = more stable, lower close-risk
Kernel
NZ$1m
Smallest 3% in cohort
Smartshares
NZ$52m
Lower half by size
| Metric | Kernel | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.25% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 10.24% | Higher is better (past not future) |
| Fund size | NZ$1m | 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 | 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.
0 overlapping top-10 holdings. The two funds disclose disjoint top-10 sets — useful diversification signal if you held both.
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 →
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 Kernel NZ 50 ESG Tilted Fund and the Smart Australian Dividend ETF?
Both are australasian equities funds available to NZ retail investors. Kernel NZ 50 ESG Tilted Fund charges 0.29% lower in annual fund charges (0.25% vs 0.54%).
Which fund has lower fees, Kernel NZ 50 ESG Tilted Fund or Smart Australian Dividend ETF?
Kernel NZ 50 ESG Tilted Fund has the lower annual fund charge (0.25% p.a. vs 0.54% p.a.). Source: each fund's most recent Quarterly Fund Update on the FMA Disclose register.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Does either fund apply responsible-investment screening?
Yes — Kernel NZ 50 ESG Tilted Fund applies responsible-investment / ESG screening. Smart Australian Dividend ETF does not. Specific exclusions and engagement policies are documented in each fund's Statement of Investment Policy and Objectives (SIPO).
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
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Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.