Fund-vs-fund · Australasian Equities
QuayStreet NZ Equity FundvsSmart Australian Top 20 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.
How much do these two overlap?
They hold 2 of the same securities. If you held both, roughly 1.8% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | QuayStreet NZ | Smart Australian | Min weight |
|---|---|---|---|
| ANZ Group | 0.93% | 6.59% | 0.93% |
| Westpac Banking Corp | 0.91% | 8.20% | 0.91% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
QuayStreet NZ Equity Fund
Smart Australian Top 20 ETF
What's different at a glance
- Smart Australian Top 20 ETF charges 0.65% lower in annual fund charges (0.60% vs 1.25%).
- 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 57 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
QuayStreet
1.25%
Highest 17% of cohort
Smartshares
0.60%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
QuayStreet
1.20%
Lower half over 5 years
Smartshares
10.25%
Top 7% over 5 years
Fund size
Larger = more stable, lower close-risk
QuayStreet
NZ$203m
Largest 17% in cohort
Smartshares
NZ$209m
Largest 13% in cohort
| Metric | QuayStreet | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.25% | 0.60% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.20% | 10.25% | Higher is better (past not future) |
| Fund size | NZ$203m | NZ$209m | 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. |
What each fund says it does
QuayStreet
QuayStreet NZ Equity Fund
The QuayStreet New Zealand Equity Fund invests predominantly in companies that are in the S&P/NZX 50 Gross Index. The investment objective is to provide a level of return above the fund’s benchmark over the long term.Full QuayStreet QuayStreet NZ Equity Fund profile →
Smartshares
Smart Australian Top 20 ETF
The Smart Australian Top 20 ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 20 Index. The Index is comprised of 20 of the largest companies listed on the ASX.Full Smartshares Smart Australian Top 20 ETF profile →
Common questions
What's the difference between the QuayStreet NZ Equity Fund and the Smart Australian Top 20 ETF?
Which fund has lower fees, QuayStreet NZ Equity Fund or Smart Australian Top 20 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?
