Fund-vs-fund · International Equities
Russell Investments Hedged Global Shares Fund vs Smart Total World 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.
What's different at a glance
- Smart Total World ETF charges 0.52% lower in annual fund charges (0.40% vs 0.92%).
- 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
Russell Investments
0.92%
Upper half of cohort
Smartshares
0.40%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Russell Investments
6.93%
Lower half over 5 years
Smartshares
11.48%
Top 20% over 5 years
Fund size
Larger = more stable, lower close-risk
Russell Investments
NZ$301m
Largest 23% in cohort
Smartshares
NZ$275m
Largest 24% in cohort
| Metric | Russell Investments | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.92% | 0.40% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | 6.93% | 11.48% | Higher is better (past not future) |
| Fund size | NZ$301m | NZ$275m | 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 to NZD | — | 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
Russell Investments weight in shared
2.2%
of Russell Investments Hedged Global Shares Fund top 10 is shared
Smartshares weight in shared
0.3%
of Smart Total World ETF top 10 is shared
| Holding | Russell Investments | Smartshares |
|---|---|---|
| $ Cash at Bank (BNZ) NZ | 2.21% | 0.30% |
"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
Russell Investments
Russell Investments Hedged Global Shares Fund
The underlying investment exposure is predominantly to a broad range of international shares listed on stock exchanges in developed markets as well as emerging international markets. The Fund employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. The Fund targets a position of being fully hedged back to New Zealand Dollars. Due to active currency management by the underlying managers, there will generaFull Russell Investments Russell Investments Hedged Global Shares Fund profile →
Smartshares
Smart Total World ETF
The Smart Total World ETF is designed to track the return (before tax, fees and other expenses) of the FTSE Global All Cap Index. The Index is comprised of large, mid and small cap companies located around the world.Full Smartshares Smart Total World ETF profile →
Common questions
What's the difference between the Russell Investments Hedged Global Shares Fund and the Smart Total World ETF?
Which fund has lower fees, Russell Investments Hedged Global Shares Fund or Smart Total World 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?
