Fund-vs-fund · Australasian Equities
Octagon Australasian Equities Fund vs Smart Australian Resources 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 mandate. The Octagon Australasian Equities Fund is a broadly diversified Australasian equities portfolio — its top five holdings span mining, banking, and healthcare — whereas the Smart Australian Resources ETF is a sector-concentrated exchange-traded fund tracking Australian resources companies exclusively, with BHP Group Ltd alone comprising 35.17% of the portfolio. This concentration distinction drives most of the other differences observed in the data.
Risk reflects that divergence: the Smart Australian Resources ETF carries a risk indicator of 6, one band higher than Octagon's 5 on the FMA's seven-point scale, consistent with its narrower sector exposure. Both funds hold identical growth asset allocations of 98.31%.
On fees, the Smart Australian Resources ETF charges 0.54% per annum against Octagon's 1.17% — a 63 basis point difference that compounds materially over time. The five-year return figures move in the opposite direction: the Smart Australian Resources ETF shows 12.80% versus Octagon's 7.85%, though past performance is not a reliable indicator of future returns, and the resources sector's commodity-driven cycles make direct comparison to a diversified mandate limited in usefulness. Fund sizes are comparable — Octagon at NZD 122.7 million, Smartshares at NZD 114.4 million.
Neither fund is offered as a KiwiSaver scheme account product based on this data snapshot.
Always verify current fees, returns, and holdings against the source 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 Resources ETF charges 0.63% lower in annual fund charges (0.54% vs 1.17%).
- 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
Octagon
1.17%
Upper half of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Octagon
7.85%
Top 17% over 5 years
Smartshares
12.80%
Top 5% over 5 years
Fund size
Larger = more stable, lower close-risk
Octagon
NZ$123m
Upper half by size
Smartshares
NZ$114m
Upper half by size
| Metric | Octagon | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.17% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 7.85% | 12.80% | Higher is better (past not future) |
| Fund size | NZ$123m | NZ$114m | 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.
Matching holdings
2
of each fund's top 10
Octagon weight in shared
12.6%
of Octagon Australasian Equities Fund top 10 is shared
Smartshares weight in shared
43.4%
of Smart Australian Resources ETF top 10 is shared
| Holding | Octagon | Smartshares |
|---|---|---|
 BHP Group Limited AU | 9.82% | 35.17% |
| RT Rio Tinto Limited AU | 2.76% | 8.25% |
"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
Octagon
Octagon Australasian Equities Fund
The Australian Equities Fund invests mostly in Australian shares, and can invest in New Zealand listed shares, where the company has meaningful operations in Australia. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.Full Octagon Octagon Australasian Equities Fund profile →
Smartshares
Smart Australian Resources ETF
The Smart Australian Resources ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 200 Resources Index. The Index is comprised of companies from the S&P/ASX 200 Index where the company is classified as belonging to the energy sector or the metals and mining industry.Full Smartshares Smart Australian Resources ETF profile →
Common questions
What's the difference between the Octagon Australasian Equities Fund and the Smart Australian Resources ETF?
Which fund has lower fees, Octagon Australasian Equities Fund or Smart Australian Resources 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?
