Fund-vs-fund · International Equities
Kernel S&P Global Clean Energy Fund vs Kernel S&P Global Dividend Aristocrats Fund
Both are International 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 S&P Global Dividend Aristocrats Fund charges 0.20% lower in annual fund charges (0.25% vs 0.45%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Kernel S&P Global Clean Energy Fund applies responsible-investment / ESG screening. The other fund does not.
- Kernel S&P Global Dividend Aristocrats Fund is roughly 2.4× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Kernel
0.45%
Lower half of cohort
Kernel
0.25%
Lowest 16% 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 2% in cohort
Kernel
NZ$5m
Smallest 4% in cohort
| Metric | Kernel | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.45% | 0.25% | Lower is better |
| Risk indicator (1–7) | 6 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$2m | NZ$5m | 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
4.5%
of Kernel S&P Global Clean Energy Fund top 10 is shared
Kernel weight in shared
1.9%
of Kernel S&P Global Dividend Aristocrats Fund top 10 is shared
| Holding | Kernel | Kernel |
|---|---|---|
| EI Edison Intl US | 4.48% | 1.87% |
"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 S&P Global Clean Energy Fund
The Kernel S&P Global Clean Energy Fund tracks the�S&P Developed Ex-Korea Clean Energy Index.�This fund invests in companies from developed markets with significant or total clean Energy exposure and low carbon-to-revenue footprints according to independent Assessors TrucostFull Kernel Kernel S&P Global Clean Energy Fund profile →
Kernel
Kernel S&P Global Dividend Aristocrats Fund
The Kernel S&P Global Dividend Aristocrats Fund invests in globally listed multi-national, blue chip companies and is designed to track the S&P Global Dividend Aristocrats Quality Income DM ex KR Index (NZD)Full Kernel Kernel S&P Global Dividend Aristocrats Fund profile →
Common questions
What's the difference between the Kernel S&P Global Clean Energy Fund and the Kernel S&P Global Dividend Aristocrats Fund?
Which fund has lower fees, Kernel S&P Global Clean Energy Fund or Kernel S&P Global Dividend Aristocrats 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?
