Fund-vs-fund · Australasian Equities
Mint Australasian Equity 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.
Why these two differ
The most material structural difference between these two funds is their investment approach: the Smart Australian Top 20 ETF is a passive index-tracking vehicle concentrated entirely in the largest Australian-listed companies, while the Mint Australasian Equity Fund is an actively managed portfolio with meaningful exposure to New Zealand-listed stocks. This distinction drives most of the other differences observed in the data.
The top-five holdings illustrate this divergence clearly. Smartshares' fund is dominated by Australian financials and resources — Commonwealth Bank of Australia (17.05%), BHP Group (15.55%), Westpac (8.20%), NAB (7.72%), and ANZ Group (6.59%) — reflecting the composition of its benchmark index. Mint's top five are entirely NZ-listed and span healthcare, infrastructure, airports, energy, and healthcare distribution: Fisher & Paykel Healthcare (17.65%), Infratil (12.63%), Auckland International Airport (8.54%), Meridian Energy (7.58%), and Ebos Group (6.50%).
Both funds share the same risk indicator of 5 and an identical growth-assets allocation of 98.31%. Fund sizes are comparable — $208.9 million (Smartshares) versus $198.8 million (Mint). The fee gap is material: Smartshares charges 0.60% per annum against Mint's 1.18%. Over the latest available five-year period, the Smartshares fund returned 10.25% per annum versus 0.30% for the Mint fund, though past returns do not predict future performance and the periods may not align precisely.
Verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before relying on this summary for any investment decision.
Comparison generated 2026-07-05 from each fund's FMA Disclose QFU facts as at that date. If the underlying facts change, this narrative is withheld until it is regenerated — the tables on this page always reflect the current data.
What's different at a glance
- Smart Australian Top 20 ETF charges 0.58% lower in annual fund charges (0.60% vs 1.18%).
- 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 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
Mint
1.18%
Highest 23% of cohort
Smartshares
0.60%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Mint
0.30%
Bottom 17% over 5 years
Smartshares
10.25%
Top 7% over 5 years
Fund size
Larger = more stable, lower close-risk
Mint
NZ$199m
Largest 16% in cohort
Smartshares
NZ$209m
Largest 13% in cohort
| Metric | Mint | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.18% | 0.60% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.30% | 10.25% | Higher is better (past not future) |
| Fund size | NZ$199m | NZ$209m | 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 | 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.
What each fund says it does
Mint
Mint Australasian Equity Fund
The Fund invests predominantly in Australasian equities and targets medium to long-term growth. The Fund is benchmarked against the S&P/NZX 50 Gross Index with an investment objective of outperforming the benchmark after fees and expenses over the medium to long term.Full Mint Mint Australasian Equity 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 →
Documents
Crawled directly from each manager's website. How we record provenance →
Mint
LiveLast verified 2026-05-08
Smartshares
Common questions
What's the difference between the Mint Australasian Equity Fund and the Smart Australian Top 20 ETF?
Which fund has lower fees, Mint Australasian Equity Fund or Smart Australian Top 20 ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
