Fund-vs-fund · Australasian Equities
NZ Funds New Zealand and Australian SharesvsSmart Australian Top 20 ETF
NZ Funds New Zealand and Australian Shares (fund size NZ$194.3 million, annual fund charge 2.52%) is an Australasian equities managed fund and Smart Australian Top 20 ETF (fund size NZ$208.9 million, annual fund charge 0.60%) is an Australasian equities ETF, as shown on Sorted Smart Investor on 22 May 2026.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
NZ Funds New Zealand and Australian Shares
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Smart Australian Top 20 ETF
What's different at a glance
- Smart Australian Top 20 ETF charges 1.92% lower in annual fund charges (0.60% 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 57 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
Smartshares
0.60%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
NZ Funds
4.59%
Upper half over 5 years
Smartshares
10.25%
Top 7% over 5 years
Fund size
Larger = more stable, lower close-risk
NZ Funds
NZ$194m
Largest 22% in cohort
Smartshares
NZ$209m
Largest 13% in cohort
| Metric | NZ Funds | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 2.52% | 0.60% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 4.59% | 10.25% | 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 | 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
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 →
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 →
Common questions
What's the difference between the NZ Funds New Zealand and Australian Shares and the Smart Australian Top 20 ETF?
Which fund has lower fees, NZ Funds New Zealand and Australian Shares 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?
