Fund-vs-fund · International Equities
Pella Global Generations PIE FundvsSmart Automation and Robotics ETF
Pella Global Generations PIE Fund (fund size NZ$64.0 million, annual fund charge 0.85%) is an international equities managed fund and Smart Automation and Robotics ETF (fund size NZ$65.1 million, annual fund charge 0.75%) is an international equities ETF, as shown on Sorted Smart Investor on 22 May 2026.
Why these two differ
Smart Automation and Robotics ETF (Smartshares) and Pella Global Generations PIE Fund (Pella) are both international equities funds of similar size (NZD ~64–65m), but they differ materially in structure and approach. The most significant structural difference is that Smart Automation is a single-asset ETF wrapper holding 99.95% of one iShares thematic fund on automation and robotics, whereas Pella Global Generations is an actively managed fund holding a diversified portfolio of individual equities across sectors (Deutsche Boerse, LivaNova, Nutrien, 3i Group among top five holdings) plus 8.17% cash at bank.
Smart Automation carries a lower annual fund charge (0.75% vs. 0.85%) and a higher risk indicator rating (6 vs. 5), reflecting its concentrated thematic exposure. Its five-year return stands at 7.04%. Pella's five-year return is not disclosed in the latest quarterly update snapshot. Both allocate 98.31% to growth assets.
Smart Automation's holdings are heavily weighted toward technology and manufacturing innovation; Pella's approach spans diversified industrials, utilities, and financials with a meaningful cash buffer. The choice between a concentrated thematic ETF and an active multi-stock strategy reflects different investment philosophies and risk tolerances.
Verify current fund characteristics, holdings, and performance metrics against each fund's latest Product Disclosure Statement and Quarterly Fund Update on the FMA Disclose register before making any investment decision.
Comparison generated 2026-10-12 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 84 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?
