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 how they achieve international equity exposure. The Simplicity Hedged Global Share Fund holds a diversified basket of global equities directly, with its top five positions — NVIDIA Corp (6.54%), Apple Inc (5.88%), Microsoft Corporation (4.41%), Amazon.com Inc (3.22%), and Alphabet Inc Class A (2.67%) — reflecting broad developed-market coverage. The Smart US 500 ETF, by contrast, invests 99.82% of its portfolio in the Vanguard S&P 500 ETF, concentrating exposure exclusively in large-cap US equities. Investors accepting geographic concentration in the US receive in return a transparent, single-vehicle structure with a disclosed five-year annualised return of 14.14%; Simplicity's latest QFU does not report a five-year return figure in our snapshot.
Currency treatment is also embedded in the Simplicity fund's name — "Hedged" signals that foreign currency exposure is managed back to NZD — whereas the Smart US 500 ETF's QFU data is silent on hedging policy in our snapshot, and investors should confirm that detail in the source PDS.
On cost, Simplicity charges an annual fund charge of 0.15% versus Smartshares' 0.34% — a 19 basis-point difference that compounds over time. Both funds carry an identical risk indicator of 5 out of 7, an identical growth-assets allocation of 98.31%, and Simplicity's fund is materially larger at NZD 2.66 billion versus NZD 963 million.
Always verify these details against the current PDS and latest Quarterly Fund Update for each fund 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
- 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 81 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 23% 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 | 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?
