Fund-vs-fund · Listed Property
Pathfinder Global Property Fund vs Smart Australian Property ETF
Both are Listed Property 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
- Smart Australian Property ETF charges 0.46% lower in annual fund charges (0.54% vs 1.00%).
- 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 15 listed property funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Pathfinder
1.00%
Lower half of cohort
Smartshares
0.54%
Lowest 13% of cohort
5-year return p.a.
Past performance — not a predictor
Pathfinder
0.80%
Bottom 4% over 5 years
Smartshares
3.03%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Pathfinder
NZ$17m
Smallest 17% in cohort
Smartshares
NZ$23m
Lower half by size
| Metric | Pathfinder | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.00% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 0.80% | 3.03% | Higher is better (past not future) |
| Fund size | NZ$17m | NZ$23m | 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
Pathfinder
Pathfinder Global Property Fund
The Fund invests directly in listed property companies that satisfy Pathfinder’s ethical investment criteria. The Fund targets a portfolio of 50 to 100 property companies.Full Pathfinder Pathfinder Global Property Fund profile →
Smartshares
Smart Australian Property ETF
The Smart Australian Property ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 200 A-REIT Equal Weight Index. The Index equally weights the constituents of the S&P/ASX 200 A-REIT Index, which is comprised of Australian Real Estate Investment Trusts (A-REITs) and mortgage REITs.Full Smartshares Smart Australian Property ETF profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Pathfinder
LiveLast verified 2026-05-08
- Supporting document490 kB · file fingerprint recorded
- Supporting document5160 kB · file fingerprint recorded
- Supporting document6356 kB · file fingerprint recorded
- Supporting document11086 kB · file fingerprint recorded
- Supporting document13994 kB · file fingerprint recorded
- Supporting document11709 kB · file fingerprint recorded
- + 9 more on the fund page
Smartshares
Common questions
What's the difference between the Pathfinder Global Property Fund and the Smart Australian Property ETF?
Which fund has lower fees, Pathfinder Global Property Fund or Smart Australian Property 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?
