Fund-vs-fund · International FI
SBS Wealth World Bond Portfolio vs Smart Global Aggregate Bond ETF
Both are International FI 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 Global Aggregate Bond ETF charges 0.47% lower in annual fund charges (0.30% vs 0.77%).
- 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 31 international fi funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
SBS Wealth
0.77%
Upper half of cohort
Smartshares
0.30%
Lowest 13% of cohort
5-year return p.a.
Past performance — not a predictor
SBS Wealth
0.32%
Lower half over 5 years
Smartshares
1.29%
Top 23% over 5 years
Fund size
Larger = more stable, lower close-risk
SBS Wealth
NZ$46m
Lower half by size
Smartshares
NZ$36m
Smallest 24% in cohort
| Metric | SBS Wealth | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.77% | 0.30% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | 0.32% | 1.29% | Higher is better (past not future) |
| Fund size | NZ$46m | NZ$36m | 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 | InvestNow · Sharesies · 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
2
of each fund's top 10
SBS Wealth weight in shared
4.9%
of SBS Wealth World Bond Portfolio top 10 is shared
Smartshares weight in shared
0.1%
of Smart Global Aggregate Bond ETF top 10 is shared
| Holding | SBS Wealth | Smartshares |
|---|---|---|
| $ Cash Deposit (ANZ Bank) NZ | 4.91% | 0.03% |
| $ Cash Deposit (JPM NZD) NZ | 0.00% | 0.03% |
"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 World Bond Portfolio
The Fund aims to provide investors with a broadly diversified portfolio of international investment grade income securities primarily through a large pool of offshore income producing investments.Full SBS Wealth SBS Wealth World Bond Portfolio profile →
Smartshares
Smart Global Aggregate Bond ETF
The Smart Global Aggregate Bond ETF is designed to track the return (before tax, fees and other expenses) of the Bloomberg Global Aggregate Total Return Index Hedged NZD. The Index is comprised of global investment grade bonds. The currency exposure is hedged to the New Zealand dollar.Full Smartshares Smart Global Aggregate Bond ETF profile →
Common questions
What's the difference between the SBS Wealth World Bond Portfolio and the Smart Global Aggregate Bond ETF?
Which fund has lower fees, SBS Wealth World Bond Portfolio or Smart Global Aggregate 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?
