Fund-vs-fund · Australasian Equities
SBS Wealth Australasian Equity PortfoliovsTAHITO Te Tai o Rehua Fund
SBS Wealth Australasian Equity Portfolio (fund size NZ$30.3 million, annual fund charge 1.20%) and TAHITO Te Tai o Rehua Fund (fund size NZ$26.9 million, annual fund charge 1.26%) are both Australasian equities managed funds, as shown on Sorted Smart Investor on 22 May 2026; SBS Wealth Australasian Equity Portfolio's 1-year return after fees and tax was 4.91% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
How much do these two overlap?
They hold 11 of the same securities. If you held both, roughly 32.6% 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 | SBS Wealth | TAHITO Te | Min weight |
|---|---|---|---|
| Meridian Energy | 6.23% | 8.28% | 6.23% |
| Fisher & Paykel Healthcare | 9.06% | 4.33% | 4.33% |
| Spark New Zealand | 3.77% | 6.68% | 3.77% |
| Ebos | 4.25% | 3.55% | 3.55% |
| Chorus | 3.44% | 3.73% | 3.44% |
| CSL | 2.59% | 3.62% | 2.59% |
| COMMONWEALTH BANK OF AUSTRALIA | 2.52% | 5.01% | 2.52% |
| Summerset Group | 2.40% | 3.90% | 2.40% |
| Precinct Properties NZ Ltd | 1.73% | 3.64% | 1.73% |
| Transurban Group | 1.32% | 3.46% | 1.32% |
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.
Why these two differ
The most material structural difference between these two funds is their risk profile and portfolio construction approach. TAHITO Te Tai o Rehua Fund carries a risk indicator of 5, while SBS Wealth Australasian Equity Portfolio sits at 4 on the same FMA scale — a meaningful distinction given both funds hold an identical 98.31% in growth assets. This divergence likely reflects differences in concentration, volatility history, or underlying asset selection rather than asset allocation alone.
On fees, TAHITO charges 1.26% per annum versus SBS Wealth's 1.20%, a modest 6 basis point gap at similar fund sizes (TAHITO at approximately $26.9 million, SBS Wealth at approximately $30.3 million). Five-year returns to the latest QFU snapshot show TAHITO at 1.77% annually against SBS Wealth's 1.12%, though past returns are not indicative of future performance and the measurement periods should be confirmed against each fund's source QFU.
Portfolio construction differs noticeably. TAHITO holds individual securities directly — Meridian Energy (8.28%), Spark New Zealand (6.68%), and Brambles (5.48%) among its top positions — applying an explicit values-based, tikanga-informed screening approach per its SIPO. SBS Wealth's largest position is a 18.15% allocation to Dimensional Australian Sustainability PIE Fund, meaning a significant portion of the portfolio is accessed through a pooled vehicle rather than direct holdings, adding an underlying layer of fees that may or may not be captured in the disclosed 1.20% figure.
Readers should verify all figures, including fee structures and return periods, against each fund's current PDS 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
- 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 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
SBS Wealth
1.20%
Highest 22% of cohort
TAHITO
1.26%
Highest 15% 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 | Direct | Platforms accepting retail subscriptions. |
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?
