Fund-vs-fund · Diversified
Lifetime Conservative Fund vs SBS Wealth Conservative Strategy
Both are Diversified 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
- SBS Wealth Conservative Strategy charges 0.09% lower in annual fund charges (0.90% vs 0.99%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Lifetime
0.99%
Lower half of cohort
SBS Wealth
0.90%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Lifetime
—
—
SBS Wealth
—
—
Fund size
Larger = more stable, lower close-risk
Lifetime
NZ$2m
Smallest 2% in cohort
SBS Wealth
NZ$2m
Smallest 1% in cohort
| Metric | Lifetime | SBS Wealth | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.99% | 0.90% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$2m | NZ$2m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 23% / 77% | 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.
Matching holdings
2
of each fund's top 10
Lifetime weight in shared
11.7%
of Lifetime Conservative Fund top 10 is shared
SBS Wealth weight in shared
8.6%
of SBS Wealth Conservative Strategy top 10 is shared
| Holding | Lifetime | SBS Wealth |
|---|---|---|
| FI Fisher Institutional New Zealand Cash Fund NZ | 8.09% | 4.29% |
| $ Cash at Bank NZ | 3.64% | 4.29% |
"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
Lifetime
Lifetime Conservative Fund
Invests mainly in income assets with some exposure to growth assets. Expected to experience low to medium volatility.Full Lifetime Lifetime Conservative Fund profile →
SBS Wealth
SBS Wealth Conservative Strategy
The Strategy aims to achieve low to medium capital growth and returns over the medium term, with an emphasis on stable returns. The Strategy invests into the following SBS Wealth funds: 22% into the World Equity Portfolio; 8% into the Australasian Equity Portfolio; 45% into the World Bond Portfolio; and 25% into the New Zealand Bond Portfolio.Full SBS Wealth SBS Wealth Conservative Strategy profile →
Common questions
What's the difference between the Lifetime Conservative Fund and the SBS Wealth Conservative Strategy?
Which fund has lower fees, Lifetime Conservative Fund or SBS Wealth Conservative Strategy?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
