Fund-vs-fund · International Equities
Smart Global ESG ETFvsSmart Total World 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.
How much do these two overlap?
They hold 1 of the same securities. If you held both, roughly 0.3% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Smart Global | Smart Total | Min weight |
|---|---|---|---|
| NZD Cash Account (ANZ Bank) | 0.62% | 0.30% | 0.30% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Smart Global ESG ETF
Smart Total World ETF
Why these two differ
The most material structural difference between these two Smartshares funds is their underlying investment mandate. The Smart Global ESG ETF allocates 99.95% of its portfolio to the iShares Core MSCI World Ex Australia ESG ETF, meaning its universe is filtered by environmental, social, and governance screens and excludes Australian-listed securities. The Smart Total World ETF, by contrast, allocates 99.92% to the Vanguard Total World Stock ETF, which pursues broad global market-cap coverage without ESG exclusions and includes emerging markets alongside developed ones. Investors seeking ESG-aligned exposure or those wanting to avoid Australia overlap with other holdings face a different proposition in each fund.
Beyond mandate, the two funds differ on fees and rated risk. The Smart Global ESG ETF carries an annual fund charge of 0.54%, compared with 0.40% for the Smart Total World ETF — a 14 basis-point gap that compounds over time. On the FMA risk indicator scale, the Global ESG ETF is rated 5 (higher volatility) versus 4 for the Total World ETF, despite both funds holding an identical 98.31% in growth assets. The five-year return figures show 12.12% per annum for the Global ESG ETF and 11.48% for the Total World ETF, though past returns do not indicate future performance. Both funds share the same PDS document and are managed by Smartshares; fund sizes are NZD 314.4 million and NZD 275.4 million respectively.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- Smart Total World ETF charges 0.14% lower in annual fund charges (0.40% vs 0.54%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Smart Global ESG ETF applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 84 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Smartshares
0.54%
Lower half of cohort
Smartshares
0.40%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Smartshares
12.12%
Top 17% over 5 years
Smartshares
11.48%
Top 20% over 5 years
Fund size
Larger = more stable, lower close-risk
Smartshares
NZ$314m
Largest 22% in cohort
Smartshares
NZ$275m
Largest 24% in cohort
| Metric | Smartshares | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.54% | 0.40% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | 12.12% | 11.48% | Higher is better (past not future) |
| Fund size | NZ$314m | NZ$275m | 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 | Yes | No | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
What each fund says it does
Smartshares
Smart Global ESG ETF
The Smart Global ESG ETF is designed to track the return (before tax, fees and other expenses) of the MSCI World Ex Australia Custom ESG Leaders Net Total Return Index. The Index is comprised of global companies screened for exposure to controversial weapons, civilian firearms, tobacco, thermal coal and oil sands. The Index excludes companies that fail to comply with the United Nations Global Compact Principles. For more information, please refer to the Smart Responsible Investment Policy.Full Smartshares Smart Global ESG ETF profile →
Smartshares
Smart Total World ETF
The Smart Total World ETF is designed to track the return (before tax, fees and other expenses) of the FTSE Global All Cap Index. The Index is comprised of large, mid and small cap companies located around the world.Full Smartshares Smart Total World ETF profile →
Common questions
What's the difference between the Smart Global ESG ETF and the Smart Total World ETF?
Which fund has lower fees, Smart Global ESG ETF or Smart Total World ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
