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Australasian Equities: benchmark consistency

How often each Australasian Equities fund beat its own market-index benchmark, year by year, after fees and tax. 4 of 43 ranked funds beat their benchmark in more than half their measured years.

Track record to 31 March 2026. Historical figures from the FMA's consolidated fund-update dataset — not current-year performance. Past performance is not a guide to the future.
1. Harbour Long Short Fund · Harbour

Beat its benchmark in 3 of 4 years

annual returns to 31 March 2026
2020 +4.45%
2021 +20.16%
2022 +3.77%
2026 -0.25%

Since inception: 6.5% p.a. after fees & tax vs benchmark 3.46%.

beat benchmark missed no benchmark on file
2. Devon Alpha Fund · Devon

Beat its benchmark in 8 of 14 years

annual returns to 31 March 2026
2013 +18.38%
2014 +28.28%
2015 +16.61%
2016 +1.98%
2017 +3.84%
2018 +4.36%
2019 +8.61%
2020 -6.14%
2021 +31.69%
2022 +10.71%
2023 +4.29%
2024 +12.55%
2025 -3.16%
2026 -0.22%

Since inception: 11.12% p.a. after fees & tax vs benchmark 6.24%.

beat benchmark missed no benchmark on file

Beat its benchmark in 6 of 11 years

annual returns to 31 March 2026
2013 +25.6%
2014 +19.87%
2015 +6.4%
2016 +19.05%
2017 +9.98%
2018 +19.49%
2019 +10.47%
2020 -4.65%
2021 +35.9%
2022 -0.43%
2026 -4.2%

Since inception: 12.73% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file

Beat its benchmark in 7 of 13 years

annual returns to 31 March 2026
2014 +10.12%
2015 +25.79%
2016 +12.6%
2017 +6.96%
2018 -3.55%
2019 +17.08%
2020 -20.99%
2021 +36.44%
2022 +10.61%
2023 -0.26%
2024 +6.24%
2025 -2.08%
2026 +13.62%

Since inception: 9.06% p.a. after fees & tax vs benchmark 9.52%.

beat benchmark missed no benchmark on file

Beat its benchmark in 5 of 10 years

annual returns to 30/06/2022
2013 +24.47%
2014 +21.11%
2015 +15.31%
2016 +14.25%
2017 +7.33%
2018 +16.54%
2019 +15.59%
2020 +4.4%
2021 +20.25%
2022 -4.26%

Since inception: 12.23% p.a. after fees & tax vs benchmark 12.32%.

beat benchmark missed no benchmark on file

Beat its benchmark in 5 of 10 years

annual returns to 30/06/2022
2013 +24.36%
2014 +4.15%
2015 +14.03%
2016 +6.6%
2017 +14.71%
2018 +5.51%
2019 -2.25%
2020 -17.96%
2021 +36.31%
2022 +12.2%

Since inception: 8.29% p.a. after fees & tax vs benchmark 10.49%.

beat benchmark missed no benchmark on file

Beat its benchmark in 4 of 8 years

annual returns to 31 March 2026
2019 +2.91%
2020 -1.32%
2021 +33.38%
2022 +11.96%
2023 +0.92%
2024 +8.26%
2025 -3.84%
2026 +11.81%

Since inception: 8.57% p.a. after fees & tax vs benchmark 4.72%.

beat benchmark missed no benchmark on file

Beat its benchmark in 2 of 4 years

annual returns to 30/06/2022
2019 +17.25%
2020 +1.91%
2021 +28.62%
2022 -3.9%

Since inception: 6.91% p.a. after fees & tax vs benchmark 7.18%.

beat benchmark missed no benchmark on file

Beat its benchmark in 5 of 11 years

annual returns to 31 March 2026
2013 +23.4%
2014 +7.3%
2015 +19.93%
2016 +16.38%
2017 +8.27%
2018 +23.97%
2019 -0.71%
2020 -2.68%
2021 +29.02%
2022 +1.48%
2026 -2.56%

Since inception: 11.22% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file

Beat its benchmark in 5 of 11 years

annual returns to 31 March 2026
2013 +28.04%
2014 +19.12%
2015 +7.83%
2016 +13.35%
2017 +11.86%
2018 +14.34%
2019 +19.47%
2020 +1.58%
2021 +44.51%
2022 -7.3%
2026 -9.64%

Since inception: 12.57% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file

Beat its benchmark in 5 of 11 years

annual returns to 31 March 2026
2013 +26.04%
2014 +8.22%
2015 +24.75%
2016 +5.08%
2017 +6.49%
2018 +1.51%
2019 +14.35%
2020 -9.22%
2021 +36.07%
2022 +10.36%
2026 +5.86%

Since inception: 10.8% p.a. after fees & tax vs benchmark 12.07%.

beat benchmark missed no benchmark on file

Beat its benchmark in 6 of 14 years

annual returns to 31 March 2026
2013 +19.64%
2014 +15.25%
2015 +17.68%
2016 +6.51%
2017 +10.27%
2018 -0.27%
2019 +15.91%
2020 -10.75%
2021 +34.49%
2022 +9.63%
2023 +1.02%
2024 +10.55%
2025 +0.41%
2026 +9.29%

Since inception: 10.88% p.a. after fees & tax vs benchmark 10.18%.

beat benchmark missed no benchmark on file

Beat its benchmark in 6 of 14 years

annual returns to 31 March 2026
2013 +27.7%
2014 +12.33%
2015 +8.55%
2016 +6.45%
2017 +13.14%
2018 +13.66%
2019 +11.82%
2020 -2.2%
2021 +40.18%
2022 +3.91%
2023 -1.67%
2024 +9.85%
2025 -0.41%
2026 +3.37%

Since inception: 11.76% p.a. after fees & tax vs benchmark 10.64%.

beat benchmark missed no benchmark on file
14. Salt Long Short Fund · Salt

Beat its benchmark in 3 of 7 years

annual returns to 30/06/2022
2016 +17.07%
2017 +7.64%
2018 +7.08%
2019 -9.93%
2020 -7.16%
2021 +40.75%
2022 +19.04%

Since inception: 9.79% p.a. after fees & tax vs benchmark 8.95%.

beat benchmark missed no benchmark on file

Beat its benchmark in 4 of 11 years

annual returns to 31 March 2026
2013 +15.87%
2014 -6.26%
2015 +12.25%
2016 +6.32%
2017 +5.55%
2018 +7.8%
2019 +9.39%
2020 -7.44%
2021 +52.56%
2022 +6.43%
2026 -11.64%

Since inception: 8.07% p.a. after fees & tax vs benchmark 8.74%.

beat benchmark missed no benchmark on file

Beat its benchmark in 4 of 11 years

annual returns to 31 March 2026
2014 +14.41%
2015 +16.49%
2016 +15.41%
2017 +5.83%
2018 +12.47%
2019 +15.95%
2020 -0.52%
2021 +36.83%
2022 -1.15%
2025 +3.41%
2026 -0.42%

Since inception: 11.06% p.a. after fees & tax vs benchmark 12.21%.

beat benchmark missed no benchmark on file

Beat its benchmark in 4 of 11 years

annual returns to 30/06/2022
2013 +22%
2014 +15.25%
2015 +17.4%
2016 +15%
2017 +9.6%
2018 +14.94%
2019 +16.4%
2020 -3.24%
2021 +29.34%
2022 +2.16%
2026 +5.33%

Since inception: 12.94% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file
18. Devon Australian Fund · Devon

Beat its benchmark in 5 of 14 years

annual returns to 31 March 2026
2013 +18.14%
2014 +5.54%
2015 +15.89%
2016 +3.43%
2017 +15.3%
2018 -3.57%
2019 +7.71%
2020 -18.66%
2021 +42.57%
2022 +11.36%
2023 -0.35%
2024 +15.93%
2025 +1.3%
2026 +10.01%

Since inception: 8.05% p.a. after fees & tax vs benchmark 7.74%.

beat benchmark missed no benchmark on file

Beat its benchmark in 3 of 9 years

annual returns to 31 March 2026
2015 +2.39%
2016 +20.94%
2017 +11.17%
2018 +20.7%
2019 +5.81%
2020 -12.08%
2021 +57.37%
2022 +4.9%
2026 -11.1%

Since inception: 10.11% p.a. after fees & tax vs benchmark 9.05%.

beat benchmark missed no benchmark on file
20. Russell Investments NZ Shares Fund · Russell Investments

Beat its benchmark in 3 of 9 years

annual returns to 30/06/2022
2014 +17.73%
2015 +10.3%
2016 +18.05%
2017 +6.52%
2018 +12.49%
2019 +17.65%
2020 -1.94%
2021 +29.17%
2022 -2.79%

Since inception: 9.9% p.a. after fees & tax vs benchmark 11.56%.

beat benchmark missed no benchmark on file

Beat its benchmark in 2 of 6 years

annual returns to 30/06/2022
2017 +6.21%
2018 +11.61%
2019 +12.95%
2020 -0.45%
2021 +29.49%
2022 -0.97%

Since inception: 8.91% p.a. after fees & tax vs benchmark 10.64%.

beat benchmark missed no benchmark on file
22. Castle Point Trans-Tasman Fund · Castle Point

Beat its benchmark in 1 of 3 years

annual returns to 30/06/2022
2020 -4.71%
2021 +44.24%
2022 -3.39%

Since inception: 7.76% p.a. after fees & tax vs benchmark 7.07%.

beat benchmark missed no benchmark on file

Beat its benchmark in 3 of 10 years

annual returns to 30/06/2022
2013 +15.85%
2014 +1.05%
2015 +5.47%
2016 -3.13%
2017 +6.53%
2018 -1.51%
2019 -4.01%
2020 -24.05%
2021 +46.53%
2022 +14.25%

Since inception: 4.29% p.a. after fees & tax vs benchmark 7.74%.

beat benchmark missed no benchmark on file

Beat its benchmark in 3 of 10 years

annual returns to 30/06/2022
2013 +24.51%
2014 +11.34%
2015 +10.43%
2016 +12.24%
2017 +7.38%
2018 +10.89%
2019 +15.83%
2020 -1.01%
2021 +45.45%
2022 -1.56%

Since inception: 11.69% p.a. after fees & tax vs benchmark 13.01%.

beat benchmark missed no benchmark on file
25. QuayStreet NZ Equity Fund · QuayStreet

Beat its benchmark in 3 of 10 years

annual returns to 30/06/2022
2013 +17.74%
2014 -5.38%
2015 +14.41%
2016 -3.1%
2017 +12.89%
2018 +2.56%
2019 +2.3%
2020 -14.91%
2021 +32.92%
2022 +13.23%

Since inception: 5.58% p.a. after fees & tax vs benchmark 7.8%.

beat benchmark missed no benchmark on file

Beat its benchmark in 3 of 10 years

annual returns to 30/06/2022
2013 +16.58%
2014 +3.52%
2015 +16.9%
2016 +10.6%
2017 +13.18%
2018 +4.39%
2019 +7.74%
2020 -3.49%
2021 +39.04%
2022 -13.2%

Since inception: 8.67% p.a. after fees & tax vs benchmark 14.02%.

beat benchmark missed no benchmark on file

Beat its benchmark in 1 of 4 years

annual returns to 31 March 2026
2021 +46.92%
2022 -0.64%
2024 +7.77%
2026 -1.06%

Since inception: 8.75% p.a. after fees & tax vs benchmark 1.71%.

beat benchmark missed no benchmark on file

Beat its benchmark in 2 of 10 years

annual returns to 30/06/2022
2013 +24.15%
2014 +19.06%
2015 +10.45%
2016 +12.61%
2017 +5.45%
2018 +12.43%
2019 +17.33%
2020 +1.39%
2021 +25.63%
2022 -4.89%

Since inception: 11.08% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file
29. Smart NZ Mid Cap ETF · Smartshares

Beat its benchmark in 1 of 5 years

annual returns to 30/06/2022
2018 +17.9%
2019 +17.19%
2020 -12.81%
2021 +41.4%
2022 -0.5%

Since inception: 8.91% p.a. after fees & tax vs benchmark 10.15%.

beat benchmark missed no benchmark on file
30. Amova Core Equity Fund · Amova

Beat its benchmark in 2 of 11 years

annual returns to 31 March 2026
2013 +23.53%
2014 +14.11%
2015 +14%
2016 +16.97%
2017 +7.33%
2018 +22.43%
2019 +10.29%
2020 -2.83%
2021 +26.03%
2022 -0.19%
2026 +1.43%

Since inception: 12.09% p.a. after fees & tax vs benchmark 13.53%.

beat benchmark missed no benchmark on file

Beat its benchmark in 2 of 11 years

annual returns to 31 March 2026
2013 +20.1%
2014 +14.62%
2015 +5.32%
2016 +7.17%
2017 +7.93%
2018 +7.04%
2019 +11.24%
2020 -11.8%
2021 +36.9%
2022 +1.08%
2026 +4.91%

Since inception: 8.59% p.a. after fees & tax vs benchmark 10.57%.

beat benchmark missed no benchmark on file
32. Simplicity NZ Share Fund · Simplicity

Beat its benchmark in 1 of 7 years

annual returns to 31 March 2026
2020 -0.13%
2021 +25.77%
2022 -3.85%
2023 -1.58%
2024 +1.31%
2025 -0.11%
2026 +4.32%

Since inception: 6.08% p.a. after fees & tax vs benchmark 6.97%.

beat benchmark missed no benchmark on file

Beat its benchmark in 1 of 10 years

annual returns to 30/06/2022
2013 +12.34%
2014 -4.87%
2015 +2.42%
2016 -4.33%
2017 +16.46%
2018 +0.32%
2019 +5.51%
2020 -17.55%
2021 +37.86%
2022 +13.81%

Since inception: 4.82% p.a. after fees & tax vs benchmark 8.76%.

beat benchmark missed no benchmark on file

Beat its benchmark in 0 of 8 years

annual returns to 31 March 2026
2016 +13.62%
2017 +6.5%
2018 +13.29%
2019 +15.29%
2020 -9.19%
2021 +38.34%
2022 -1.8%
2026 +4.32%

Since inception: 8.62% p.a. after fees & tax vs benchmark 11.07%.

beat benchmark missed no benchmark on file

Beat its benchmark in 0 of 7 years

annual returns to 31 March 2026
2019 +18.18%
2020 -1.1%
2021 +27.89%
2022 -4.07%
2024 +1.36%
2025 +1.22%
2026 +3.99%

Since inception: 5.92% p.a. after fees & tax vs benchmark 7.23%.

beat benchmark missed no benchmark on file
36. Smart Australian Dividend ETF · Smartshares

Beat its benchmark in 0 of 7 years

annual returns to 30/06/2022
2016 -8.74%
2017 +15.64%
2018 -7.42%
2019 +5%
2020 -22.22%
2021 +39.38%
2022 +10.81%

Since inception: 3.08% p.a. after fees & tax vs benchmark 4.74%.

beat benchmark missed no benchmark on file
37. Smart Australian Financials ETF · Smartshares

Beat its benchmark in 0 of 6 years

annual returns to 30/06/2022
2017 +21.28%
2018 -10.75%
2019 -2.12%
2020 -25.35%
2021 +52.61%
2022 +13.64%

Since inception: 1.01% p.a. after fees & tax vs benchmark 2.59%.

beat benchmark missed no benchmark on file
38. Smart Australian Resources ETF · Smartshares

Beat its benchmark in 0 of 6 years

annual returns to 30/06/2022
2017 +36.1%
2018 +13.01%
2019 +23.11%
2020 -25.54%
2021 +60.2%
2022 +23.88%

Since inception: 10.07% p.a. after fees & tax vs benchmark 12.1%.

beat benchmark missed no benchmark on file
39. Smart NZ Dividend ETF · Smartshares

Beat its benchmark in 0 of 6 years

annual returns to 30/06/2022
2017 +5.86%
2018 +1.3%
2019 +20.8%
2020 -18.77%
2021 +36.19%
2022 +5.61%

Since inception: 6.39% p.a. after fees & tax vs benchmark 7.12%.

beat benchmark missed no benchmark on file
40. Smart Australian Mid Cap ETF · Smartshares

Beat its benchmark in 0 of 5 years

annual returns to 30/06/2022
2018 +8.23%
2019 +0.44%
2020 -21.23%
2021 +67.73%
2022 +15.11%

Since inception: 9.06% p.a. after fees & tax vs benchmark 11.55%.

beat benchmark missed no benchmark on file
41. Smart Australian Top 20 ETF · Smartshares

Beat its benchmark in 0 of 5 years

annual returns to 30/06/2022
2018 -6.31%
2019 +9.31%
2020 -14.71%
2021 +41.53%
2022 +12.5%

Since inception: 7.14% p.a. after fees & tax vs benchmark 9.87%.

beat benchmark missed no benchmark on file
42. Smart NZ Top 10 ETF · Smartshares

Beat its benchmark in 0 of 5 years

annual returns to 30/06/2022
2018 +12.02%
2019 +18.99%
2020 +7.32%
2021 +19.27%
2022 -6.53%

Since inception: 6.47% p.a. after fees & tax vs benchmark 8.05%.

beat benchmark missed no benchmark on file
43. Smart NZ Top 50 ETF · Smartshares

Beat its benchmark in 0 of 5 years

annual returns to 30/06/2022
2018 +14.36%
2019 +18.16%
2020 -7.77%
2021 +39.29%
2022 -1.88%

Since inception: 8.73% p.a. after fees & tax vs benchmark 9.93%.

beat benchmark missed no benchmark on file

Other categories

Methodology & sources

Each fund's after-fee, after-tax annual return is compared to the annual return of the market index it names in its FMA fund update. We count the years the fund's return exceeded that index. Funds with fewer than 3 measured years are not ranked.

Past performance is not indicative of future returns. ManagedFundsNZ provides information only, not personalised financial advice — for advice, see a licensed financial adviser.

FMA Disclose fund-update data