Fund-vs-fund · Australasian Equities
NZ Funds New Zealand and Australian Shares vs Russell Investments NZ Shares Fund
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.
What's different at a glance
- Russell Investments NZ Shares Fund charges 1.74% lower in annual fund charges (0.78% vs 2.52%).
- 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
NZ Funds
2.52%
Highest 3% of cohort
Russell Investments
0.78%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
NZ Funds
4.59%
Upper half over 5 years
Russell Investments
0.34%
Bottom 21% over 5 years
Fund size
Larger = more stable, lower close-risk
NZ Funds
NZ$194m
Largest 20% in cohort
Russell Investments
NZ$209m
Largest 15% in cohort
| Metric | NZ Funds | Russell Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 2.52% | 0.78% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 4.59% | 0.34% | Higher is better (past not future) |
| Fund size | NZ$194m | NZ$209m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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 | InvestNow | 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
4
of each fund's top 10
NZ Funds weight in shared
21.2%
of NZ Funds New Zealand and Australian Shares top 10 is shared
Russell Investments weight in shared
18.6%
of Russell Investments NZ Shares Fund top 10 is shared
| Holding | NZ Funds | Russell Investments |
|---|---|---|
 Mainfreight Ltd NZ | 5.45% | 5.18% |
 A2 Milk Co Ltd NZ | 4.98% | 6.84% |
 Summerset Group Holdings Ltd NZ | 4.80% | 3.59% |
 Mercury NZ Ltd NZ | 5.99% | 2.95% |
"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
NZ Funds
NZ Funds New Zealand and Australian Shares
The objective of the New Zealand and Australian Shares fund is to grow your investment over the long term by investing in growth assets and other authorised assets with active management. The fund is anticipated to mainly own and trade New Zealand and Australian shares over the minimum suggested timeframe.Full NZ Funds NZ Funds New Zealand and Australian Shares profile →
Russell Investments
Russell Investments NZ Shares Fund
The underlying investment exposure is typically comprised of a broad range of shares and other equity securities listed on the NZX. This may include derivative instruments which may be used to obtain or reduce exposure to securities and to hedge any Australian dollar exposure. Investment in Australian shares will generally be in those companies which have a listing on the NZX.Full Russell Investments Russell Investments NZ Shares Fund profile →
Common questions
What's the difference between the NZ Funds New Zealand and Australian Shares and the Russell Investments NZ Shares Fund?
Which fund has lower fees, NZ Funds New Zealand and Australian Shares or Russell Investments NZ Shares Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
