Fund-vs-fund · Australasian Equities
Milford Australian Absolute Growth Fund vs Smart Australian Top 20 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.
| Metric | Milford | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.05% | 0.60% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 5.63% | 10.37% | Higher is better (past not future) |
| Fund size | NZ$174m | NZ$195m | Larger = more stable, lower close-risk |
| Growth / income split | 52% / 48% | 98% / 2% | More growth = higher long-run return + volatility |
What each fund says it does
Milford
Milford Australian Absolute Growth Fund
The Fund targets an absolute return with an annualised return objective of 5% above the New Zealand Official Cash Rate while seeking to protect capital after the base fund fee but before tax and before the performance fee, over rolling three year periods. It is a diversified fund that primarily invests in Australasian equities, complemented by selective exposure to international equities and cash.Full Milford Milford Australian Absolute Growth Fund profile →
Smartshares
Smart Australian Top 20 ETF
The Smart Australian Top 20 ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 20 Index. The Index is comprised of 20 of the largest companies listed on the ASX.Full Smartshares Smart Australian Top 20 ETF profile →
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.