Fund-vs-fund · International Equities
Simplicity Hedged Global Share Fund vs Smart US 500 ETF
Both are International 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 investment approach and underlying exposure. The Simplicity Hedged Global Share Fund holds a diversified global equity portfolio directly, with its top five positions — NVIDIA (6.54%), Apple (5.88%), Microsoft (4.41%), Amazon (3.22%), and Alphabet Class A (2.67%) — reflecting broad global market-cap weighting. The Smart US 500 ETF, by contrast, invests 99.93% of its portfolio in the Vanguard S&P 500 ETF, meaning investors are accessing US large-cap equities exclusively through a single underlying fund. This fund-of-fund structure concentrates geographic exposure entirely in the United States, whereas Simplicity's portfolio spans global markets.
Currency treatment also differs in name: Simplicity explicitly labels its fund as hedged, indicating foreign currency exposure is managed back to NZD, while the Smart US 500 ETF's data does not specify a hedging policy — investors should confirm this directly in the PDS.
On fees, Simplicity charges 0.15% annually versus Smartshares' 0.34%. Both carry a risk indicator of 5 and near-identical growth asset allocations of 98.31%. Fund size differs materially: Simplicity sits at approximately NZD 2.66 billion against Smartshares' NZD 1.02 billion. Five-year return data is available for the Smart US 500 ETF at 17.84% per annum; Simplicity's five-year return figure is not available in this snapshot.
Always verify fees, returns, and fund details against the source PDS 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
- Simplicity Hedged Global Share Fund charges 0.19% lower in annual fund charges (0.15% vs 0.34%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Simplicity Hedged Global Share Fund is roughly 2.8× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Simplicity
0.15%
Lowest 9% of cohort
Smartshares
0.34%
Lowest 24% of cohort
5-year return p.a.
Past performance — not a predictor
Simplicity
—
—
Smartshares
14.14%
Top 1% over 5 years
Fund size
Larger = more stable, lower close-risk
Simplicity
NZ$2.66b
Largest 2% in cohort
Smartshares
NZ$963m
Largest 4% in cohort
| Metric | Simplicity | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.15% | 0.34% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 14.14% | Higher is better (past not future) |
| Fund size | NZ$2.66b | NZ$963m | 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 to NZD | — | 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.
What each fund says it does
Simplicity
Simplicity Hedged Global Share Fund
The Hedged Global Share Fund invests in listed global shares and tracks the Bloomberg Developed Markets ex NZ ESG Screened Index (NZD Hedged). It is intended to be part of a diversified investment portfolio.Full Simplicity Simplicity Hedged Global Share Fund profile →
Smartshares
Smart US 500 ETF
The Smart US 500 ETF is designed to track the return (before tax, fees and other expenses) of the S&P 500 Index. The Index is comprised of 500 of the largest listed companies in the United States.Full Smartshares Smart US 500 ETF profile →
Common questions
What's the difference between the Simplicity Hedged Global Share Fund and the Smart US 500 ETF?
Which fund has lower fees, Simplicity Hedged Global Share Fund or Smart US 500 ETF?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
