Fund-vs-fund · Australasian Equities
SBS Wealth Australasian Equity Portfolio vs TAHITO Te Tai o Rehua Fund
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.
Why these two differ
The most material structural difference between these two funds is their risk profile. TAHITO Te Tai o Rehua Fund carries a risk indicator of 5, while SBS Wealth Australasian Equity Portfolio sits at 4 on the same standardised scale — a meaningful distinction given both funds hold an identical 98.31% in growth assets. This divergence likely reflects differences in volatility of underlying holdings rather than asset allocation alone, and investors should examine each fund's SIPO disclosures for the precise methodology.
On fees, the gap is modest: TAHITO charges 1.28% per annum versus SBS Wealth at 1.20%, an 8 basis point difference on comparable-sized portfolios (NZD 29.0 million and NZD 30.3 million respectively). The five-year return figures diverge more sharply — TAHITO reports 3.59% annually against SBS Wealth's 1.12% — though past returns are not indicative of future performance and the two funds' differing construction means direct comparison has limits.
Portfolio construction also differs structurally. TAHITO holds individual securities directly, with Meridian Energy (7.79%) its largest position. SBS Wealth allocates 18.15% to a single underlying pooled vehicle — the Dimensional Australian Sustainability PIE Fund — making it partly a fund-of-funds structure, which introduces an additional layer of underlying manager exposure and potentially undisclosed sub-fund costs not captured in the headline fee.
TAHITO's investment philosophy draws on Māori values-based screening, per its PDS language, which may further differentiate its universe from SBS Wealth's sustainability-tilted Dimensional sleeve.
Always verify current fees, returns, and holdings against each fund's product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any of this information.
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
- SBS Wealth Australasian Equity Portfolio charges 0.06% lower in annual fund charges (1.20% vs 1.26%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- TAHITO Te Tai o Rehua Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
SBS Wealth
1.20%
Highest 22% of cohort
TAHITO
1.26%
Highest 16% of cohort
5-year return p.a.
Past performance — not a predictor
SBS Wealth
1.12%
Lower half over 5 years
TAHITO
1.77%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
SBS Wealth
NZ$30m
Lower half by size
TAHITO
NZ$27m
Lower half by size
| Metric | SBS Wealth | TAHITO | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | 1.26% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.12% | 1.77% | Higher is better (past not future) |
| Fund size | NZ$30m | NZ$27m | 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 | Yes | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | InvestNow · 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
3
of each fund's top 10
SBS Wealth weight in shared
19.1%
of SBS Wealth Australasian Equity Portfolio top 10 is shared
TAHITO weight in shared
19.3%
of TAHITO Te Tai o Rehua Fund top 10 is shared
| Holding | SBS Wealth | TAHITO |
|---|---|---|
 Meridian Energy Limited NZ | 6.23% | 8.28% |
 Fisher & Paykel Healthcare Ltd NZ | 9.06% | 4.33% |
 Spark New Zealand Ltd NZ | 3.77% | 6.68% |
"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
SBS Wealth
SBS Wealth Australasian Equity Portfolio
The Fund aims to achieve capital growth and returns over the long-term through investing primarily in a portfolio of Australasian equities, either directly or indirectly via an underlying fund diversified across various sectors.Full SBS Wealth SBS Wealth Australasian Equity Portfolio profile →
TAHITO
TAHITO Te Tai o Rehua Fund
The Fund is an indigenous ethical and sustainable fund. The Fund Uses positive Environment, Social and Governance (ESG) integrated screens in selecting investments. Māori indigenous values and principles serve as the foundation to the Fund’s philosophy and investment selection process. The Fund will provide actively managed exposure to a portfolio of primarily New Zealand and Australian companies that have been selected in accordance with the TAHITO investment philosophy. The Fund aims to generate a better return than the benchmark over the medium to long term.Full TAHITO TAHITO Te Tai o Rehua Fund profile →
Common questions
What's the difference between the SBS Wealth Australasian Equity Portfolio and the TAHITO Te Tai o Rehua Fund?
Which fund has lower fees, SBS Wealth Australasian Equity Portfolio or TAHITO Te Tai o Rehua Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
