Fund-vs-fund · NZ Fixed Interest
SBS Wealth New Zealand Bond Portfolio vs Smart NZ Bond ETF
Both are NZ Fixed Interest 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 NZ Bond ETF charges 0.24% lower in annual fund charges (0.54% vs 0.78%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Smart NZ Bond ETF is roughly 7.3× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 14 nz fixed interest funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
SBS Wealth
0.78%
Highest 18% of cohort
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
SBS Wealth
1.15%
Upper half over 5 years
Smartshares
1.43%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
SBS Wealth
NZ$8m
Smallest 11% in cohort
Smartshares
NZ$58m
Lower half by size
| Metric | SBS Wealth | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.78% | 0.54% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | 1.15% | 1.43% | Higher is better (past not future) |
| Fund size | NZ$8m | NZ$58m | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | 0% / 100% | 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
1
of each fund's top 10
SBS Wealth weight in shared
4.2%
of SBS Wealth New Zealand Bond Portfolio top 10 is shared
Smartshares weight in shared
6.8%
of Smart NZ Bond ETF top 10 is shared
| Holding | SBS Wealth | Smartshares |
|---|---|---|
| $ Cash Deposit (ANZ Bank) NZ | 4.17% | 6.81% |
"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 New Zealand Bond Portfolio
The Fund aims to provide investors with a core and lower risk exposure to New Zealand fixed interest debt securities and a gross return above the return of the Benchmark on a rolling three-year basis i.E. Before tax, fees, and other expenses.Full SBS Wealth SBS Wealth New Zealand Bond Portfolio profile →
Smartshares
Smart NZ Bond ETF
The Smart NZ Bond ETF is designed to provide a return (before tax, fees and other expenses) that outperforms the S&P/NZX A-Grade Corporate Bond Total Return Index over rolling three-year periods.Full Smartshares Smart NZ Bond ETF profile →
Common questions
What's the difference between the SBS Wealth New Zealand Bond Portfolio and the Smart NZ Bond ETF?
Which fund has lower fees, SBS Wealth New Zealand Bond Portfolio or Smart NZ Bond 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?
