Fund-vs-fund · International Equities
Pella Global Generations PIE Fund vs Smart Automation and Robotics ETF
Both are International 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 how they achieve international equities exposure. The Smart Automation and Robotics ETF (Smartshares) is a single-holding wrapper: 99.92% of assets sit in the iShares Automation & Robotics UCITS ETF, making it a pass-through vehicle with highly concentrated thematic exposure to automation and robotics companies globally. The Pella Global Generations PIE Fund, by contrast, holds a directly constructed portfolio of individual equities, with its five disclosed top holdings each weighted between 3.36% and 3.84%, alongside an 8.17% cash position at BNZ — suggesting a more diversified, actively managed approach with meaningful liquidity reserves.
Despite identical growth-asset allocations of 98.31%, the two funds carry different risk indicators: Smartshares sits at 6 (higher) versus Pella's 5 (moderate-higher), likely reflecting the thematic concentration of the robotics strategy. Pella's annual fund charge of 0.85% is 10 basis points above Smartshares' 0.75%. On performance, Smartshares discloses a five-year annualised return of 9.49%; Pella's five-year return figure is not available in our snapshot, so a like-for-like return comparison cannot be made. Fund sizes are comparable — Smartshares at NZD 70.6 million, Pella at NZD 64.0 million. Neither fund is a KiwiSaver scheme, so contributions cannot be directed from your KiwiSaver scheme account.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Smart Automation and Robotics ETF charges 0.10% lower in annual fund charges (0.75% vs 0.85%).
- 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 81 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Pella
0.85%
Upper half of cohort
Smartshares
0.75%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Pella
—
—
Smartshares
7.04%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Pella
NZ$64m
Lower half by size
Smartshares
NZ$65m
Lower half by size
| Metric | Pella | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.85% | 0.75% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | — | 7.04% | Higher is better (past not future) |
| Fund size | NZ$64m | 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 | 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
1
of each fund's top 10
Pella weight in shared
8.2%
of Pella Global Generations PIE Fund top 10 is shared
Smartshares weight in shared
0.5%
of Smart Automation and Robotics ETF top 10 is shared
| Holding | Pella | Smartshares |
|---|---|---|
| $ Cash at Bank (BNZ) NZ | 8.17% | 0.49% |
"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
Pella
Pella Global Generations PIE Fund
The Investment Manager believes it is possible to consistently generate excess returns by creating a diversified portfolio of highly cash flow generative companies with favourable outlooks that are trading at attractive valuations.Full Pella Pella Global Generations PIE Fund profile →
Smartshares
Smart Automation and Robotics ETF
The Smart Automation and Robotics ETF is designed to track the return (before tax, fees and other expenses) of the STOXX® Global Automation & Robotics Index. The Index is comprised of stocks from developed and emerging market companies from sectors associated with the development of automatic and robotic technology.Full Smartshares Smart Automation and Robotics ETF profile →
Common questions
What's the difference between the Pella Global Generations PIE Fund and the Smart Automation and Robotics ETF?
Which fund has lower fees, Pella Global Generations PIE Fund or Smart Automation and Robotics ETF?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
