Fund-vs-fund · International Equities
Smart US Mid Cap ETF vs Smart US Small Cap 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.
What's different at a glance
- Annual fund charges are within 0.05% of each other (0.51% vs 0.51%).
- 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 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
Smartshares
0.51%
Lower half of cohort
Smartshares
0.51%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Smartshares
9.03%
Upper half over 5 years
Smartshares
7.59%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Smartshares
NZ$50m
Lower half by size
Smartshares
NZ$44m
Lower half by size
| Metric | Smartshares | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.51% | 0.51% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 9.03% | 7.59% | Higher is better (past not future) |
| Fund size | NZ$50m | NZ$44m | 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 | 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
Smartshares weight in shared
0.4%
of Smart US Mid Cap ETF top 10 is shared
Smartshares weight in shared
0.3%
of Smart US Small Cap ETF top 10 is shared
| Holding | Smartshares | Smartshares |
|---|---|---|
| $ NZD Cash Account (ANZ Bank) NZ | 0.37% | 0.35% |
"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
Smartshares
Smart US Mid Cap ETF
The Smart US Mid Cap ETF is designed to track the return (before tax, fees and other expenses) of the CRSP US Mid Cap Index. The Index is comprised of midsize US companies.Full Smartshares Smart US Mid Cap ETF profile →
Smartshares
Smart US Small Cap ETF
The Smart US Small Cap ETF is designed to track the return (before tax, fees and other expenses) of the CRSP US Small Cap Index. The Index is comprised of small US companies.Full Smartshares Smart US Small Cap ETF profile →
Common questions
What's the difference between the Smart US Mid Cap ETF and the Smart US Small Cap ETF?
Which fund has lower fees, Smart US Mid Cap ETF or Smart US Small Cap 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?
