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, managed by Smartshares, is a single-security wrapper: 99.95% of its portfolio sits in the iShares Automation & Robotics UCITS ETF, concentrating risk entirely within the automation and robotics theme. The Pella Global Generations PIE Fund, managed by Pella, holds a diversified mix of directly owned global equities — its five disclosed top holdings span financial infrastructure, medtech, agriculture, and private equity, with no single position above 4%.
This structural difference carries through to risk profiling. Smartshares assigns the Automation and Robotics ETF a risk indicator of 6 (out of 7); Pella rates the Global Generations fund at 5, reflecting a materially different volatility profile despite both funds allocating 98.31% to growth assets.
On fees, Smartshares discloses a 0.75% annual fund charge against Pella's 0.85%. On five-year returns, Smartshares reports 7.04% per annum; Pella's five-year return figure is not available in the current snapshot, most likely because the fund lacks a sufficiently long track record. Both funds are similar in size — approximately NZD 65.1 million (Smartshares) and NZD 64.0 million (Pella) respectively. Neither fund is a KiwiSaver scheme account.
Readers should verify all figures, including fees, returns, and holdings, against each fund's current Product Disclosure Statement 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 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?
