Fund-vs-fund · Diversified
SBS Wealth Growth Strategy vs Simplicity High Growth Investment Fund
Both are Diversified 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 annual fee: Simplicity High Growth Investment Fund charges 0.25%, while SBS Wealth Growth Strategy charges 1.17% — a gap of 0.92 percentage points that compounds significantly over time on similar-sized portfolios. Both funds sit in the Diversified category, carry a risk indicator of 5, and hold nearly identical growth asset allocations (98.31% and 98.37% respectively), making the fee differential especially prominent when comparing like-for-like exposure.
Their construction diverges sharply at the portfolio level. Simplicity holds individual equities directly — its largest position is Simplicity Living Ltd Ordinary Shares at 6.67%, followed by NVIDIA Corp (4.72%) and Apple Inc (4.24%), suggesting a mix of direct global equities and a related-party unlisted property holding. SBS Wealth operates as a fund-of-funds, with 36.68% concentrated in the Dimensional Global Sustainability PIE Fund (NZD Hedged) and smaller allocations to Schroder, Munro, and Kernel vehicles, embedding a sustainability tilt across its underlying managers.
On fund size, both are comparable: Simplicity at NZD 509.5 million and SBS Wealth at NZD 476.9 million. SBS Wealth discloses a five-year return of 7.39% per annum; Simplicity's equivalent five-year return figure is not available in this snapshot. The SBS Wealth fund is offered through a KiwiSaver scheme account structure, as indicated by its PDS URL referencing a KiwiSaver Scheme.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
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
- Simplicity High Growth Investment Fund charges 0.92% lower in annual fund charges (0.25% vs 1.17%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
SBS Wealth
1.17%
Upper half of cohort
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
SBS Wealth
7.39%
Top 5% over 5 years
Simplicity
—
—
Fund size
Larger = more stable, lower close-risk
SBS Wealth
NZ$477m
Largest 19% in cohort
Simplicity
NZ$509m
Largest 17% in cohort
| Metric | SBS Wealth | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.17% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 7.39% | — | Higher is better (past not future) |
| Fund size | NZ$477m | NZ$509m | 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
4
of each fund's top 10
SBS Wealth weight in shared
7.2%
of SBS Wealth Growth Strategy top 10 is shared
Simplicity weight in shared
11.4%
of Simplicity High Growth Investment Fund top 10 is shared
| Holding | SBS Wealth | Simplicity |
|---|---|---|
 Fisher & Paykel Healthcare Ltd NZ | 1.80% | 3.16% |
| $ Cash Deposit (ANZ Bank) NZ | 2.17% | 1.77% |
 Nvidia Corp US | 1.66% | 4.72% |
 Infratil Ltd NZ | 1.57% | 1.74% |
"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 Growth Strategy
The fund aims to provide investors with capital growth over the long-term, by investing primarily in a broad spread of Australasian and international equities, with a small amount held in cash.Full SBS Wealth SBS Wealth Growth Strategy profile →
Simplicity
Simplicity High Growth Investment Fund
The High Growth Investment Fund provides investors with exposure to mostly growth assets (shares & property). There is a very limited exposure to income assets (cash).Full Simplicity Simplicity High Growth Investment Fund profile →
Common questions
What's the difference between the SBS Wealth Growth Strategy and the Simplicity High Growth Investment Fund?
Which fund has lower fees, SBS Wealth Growth Strategy or Simplicity High Growth Investment Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
