Fund-vs-fund · Australasian Equities
Mint New Zealand SRI Equity Fund vs Smart Australian Financials 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 geographic and sectoral concentration. The Mint New Zealand SRI Equity Fund holds a diversified mix of New Zealand companies screened on socially responsible investment criteria — its top five positions span healthcare, infrastructure, energy, and transport. The Smart Australian Financials ETF, by contrast, is a sector-specific index fund tracking Australian financial stocks: its top five holdings are all major Australian banks and one diversified financial group, with Commonwealth Bank of Australia alone representing 31.61% of the portfolio. Investors in the Smartshares fund therefore carry concentrated single-sector and single-country risk that the Mint fund does not replicate.
On fees, Mint charges an annual fund charge of 0.97% versus Smartshares at 0.54% — a 43 basis-point gap. Risk indicators diverge by one band: Mint sits at 5 (on the standard 1–7 scale) and Smartshares at 6, reflecting higher expected volatility for the Australian financials fund. Five-year returns differ markedly in this snapshot — 0.15% per annum for Mint versus 14.26% for Smartshares — though these figures reflect a specific period and the periods compared may not be identical; past performance is not a reliable indicator of future returns. Both funds are similarly sized (Mint NZ$71.5m, Smartshares NZ$65.0m) and carry an identical growth-assets allocation of 98.31%. Neither fund is a KiwiSaver scheme account product based on the data provided.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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 Financials ETF charges 0.43% lower in annual fund charges (0.54% vs 0.97%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Mint New Zealand SRI Equity Fund applies responsible-investment / ESG screening. The other fund does not.
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
0.97%
Lower half of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Mint
0.15%
Bottom 10% over 5 years
Smartshares
14.26%
Top 1% over 5 years
Fund size
Larger = more stable, lower close-risk
Mint
NZ$72m
Lower half by size
Smartshares
NZ$65m
Lower half by size
| Metric | Mint | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.97% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 0.15% | 14.26% | Higher is better (past not future) |
| Fund size | NZ$72m | NZ$65m | 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.
What each fund says it does
Mint
Mint New Zealand SRI Equity Fund
Typically invests in New Zealand-listed equities and has an investment objective of outperforming the S&P/NZX50 Gross Index after fees and expenses over the medium to long term. The Fund is designed to meet specific responsible investment criteria, with the aim of building a portfolio where the holdings in aggregate, generate a better ESG score in our systems than the benchmark.Full Mint Mint New Zealand SRI Equity Fund profile →
Smartshares
Smart Australian Financials ETF
The Smart Australian Financials ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 200 Financials Ex-A-REIT Index. The Index is comprised of financial sector companies from the S&P/ASX 200 Index, but excludes Australian real estate investments trusts.Full Smartshares Smart Australian Financials 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 New Zealand SRI Equity Fund and the Smart Australian Financials ETF?
Which fund has lower fees, Mint New Zealand SRI Equity Fund or Smart Australian Financials ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
