Foundation Series US Dividend Equity Fund
Managed by Foundation Series Foundation Series US Dividend Equity Fund is a international equities managed fund operated by Foundation Series; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 0.06% · minimum investment NZ$5,000 · distributions quarterly. Compared with 80 other same-category funds on this site, the 0.06% annual fund charge sits below the same-category median of 0.61%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
0.06%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.91%
Fund size
NZ$10.8m
98% growth · 2% income
The Fund aims for high long-run returns by investing in an Exchange-Traded Fund ('ETF') that invests in high dividend yielding shares issued by United States companies with a record of consistently paying dividends. The Fund's objective is to perform broadly in line with the return of its investment benchmark, the Dow Jones U.S. Dividend 100 Index (NZD) TR, before fees and tax over the long-term.
How Foundation Series US Dividend Equity Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- Dow Jones U.S. Dividend 100 Index (NZD) TR
- Top 3 holdings
- Schwab U.S. Dividend Equity ETF (99.8%) · Cash at Bank (BNZ) (0.3%)
Key facts
Fund start date
4 March 2025
Min. investment
NZ$5,000
Subsequent: NZ$500
Distributions
Quarterly
Buy / sell spread
50 bps (0.50%) / 50 bps (0.50%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Cash and cash equivalents | 0% | 0% | 10% |
| International equities | 100% | 90% | 100% |
Responsible-investment approach
Designated Funds (Foundation Series Balanced Fund, Growth Fund, High Growth Fund and Global ESG Fund) invest into underlying funds that seek to limit exposure to companies involved in specific business practices via ESG exclusion screens applied at the Australasian Equities, International Equities, and International Fixed Interest asset class levels. Exclusions cover tobacco, cannabis, alcohol, gambling, adult entertainment, weapons, coal/oil/gas, nuclear power, human rights breaches, UN Global Compact non-compliance, Uyghur Forced Labour Prevention Act entities, and diversity failures among others.
Derivatives policy
The Funds can invest directly in securities including derivatives. Derivatives are not referenced beyond this permitted use; BNZ is responsible for execution of currency hedging via (implied) derivative instruments.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- FundRock acknowledges that because it and InvestNow share the same ultimate parent company, InvestNow could favour investing Fund assets into products managed by FundRock over potentially better-suited alternatives.
- FundRock acknowledges that InvestNow receives platform hosting fees from fund managers and issuers, which could bias its investment decisions toward products listed on the InvestNow platform over off-platform products.
- FundRock discloses that InvestNow provides investment management and distribution services to the Funds as a related party under the same ultimate parent, meaning fees paid to InvestNow represent a related-party cost to the Funds.
Generated 2026-05-28 from Foundation Series Funds OMI (dated 2026-01-29). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Public Trust
Auditor
KPMG
Custodian
Adminis NZ Limited
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- FundRock and InvestNow are wholly owned subsidiaries of Implemented Investment Solutions Holding Limited, meaning InvestNow as investment manager could be influenced to invest the Funds into investment funds that FundRock acts as manager for, in preference to other investment products.
- InvestNow operates the InvestNow investment platform and receives fees from managers and issuers to host their products, which could influence InvestNow to invest the Funds in products on its platform in preference to products that are not on the platform.
- Parties related to the Funds, including the staff of FundRock and their families, and the staff of InvestNow and their families, may from time to time invest in the Funds.
How this fund compares to peers
Mechanical comparison vs the 81 other international equities funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
0.06%
Category median: 0.61%
Cheaper than 97% of peers
Fund size
NZ$10.8m
Category median: NZ$95.7m
7th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$30
Compounded charge over 5 years (excl. returns)
$271 less than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 2 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| SU Schwab U.S. Dividend Equity ETF | 99.75% |
| $ Cash at Bank (BNZ) | 0.25% |
Documents
- Supporting document507 kB · file fingerprint recorded
- Supporting document507 kB · file fingerprint recorded
- Statement of Investment Policy583 kB · file fingerprint recorded
- Other Material Information335 kB · file fingerprint recorded
Also via Sorted Smart Investor
FMA Disclose mirrors and historical files from Sorted.
- FOUNDATION SERIES US DIVIDEND EQUITY FUND (FND56008) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.35 KB
- 20260130 Foundation Series Funds Core Equity Funds #1 PDS.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 316.87 KB
- 20260331 Foundation Series US Dividend Equity Fund QFU.pdf The quarterly update published by the provider PDF, 439.21 KB
- 20260130 Foundation Series Funds Diversified Funds PDS.pdf Additional product disclosure statement from the provider PDF, 330.98 KB
- 20260130 Foundation Series Funds Core Equity Funds #2 PDS.pdf Additional product disclosure statement from the provider PDF, 313.71 KB
- 20260130 Foundation Series Funds OMI.pdf Other Material Information Document PDF, 335.33 KB
- Invest Now Responsible Investment Statement (February 2026).pdf Responsible Investment Statement PDF, 679.97 KB
- 20260130 Foundation Series Funds SIPO.pdf Statement of investment policy and objectives PDF, 583.48 KB
About this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Foundation Series
Low-cost passive index funds issued by FundRock NZ, distributed through InvestNow.
Parent: InvestNow / Apex Group
See all funds from Foundation Series →Common questions
Questions people ask about Foundation Series US Dividend Equity Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
Does equity fund pay dividends?
Yes. This fund holds the Schwab U.S. Dividend Equity ETF (99.75% of assets), which is constructed to track companies that pay dividends. Dividend income received by the fund is reinvested and reflected in the fund's unit price; as a PIE, any taxable income is capped at your prescribed investor rate (maximum 28%).
What is the difference between equity fund and dividend fund?
An equity fund invests in company shares and may hold any mix of dividend-paying and non-dividend-paying stocks. A dividend fund specifically selects equities based on dividend-payment history or yield. This fund is a dividend-focused equity fund, as it tracks an index of U.S. dividend-paying companies.
Are US equity funds a good investment?
That depends on your financial circumstances and investment goals. This fund carries a risk indicator of 5 out of 7 (FMA standardised scale), reflecting moderate-to-high volatility typical of equity exposure. Review the Product Disclosure Statement and FMA Disclose register (https://disclose-register.companiesoffice.govt.nz/) for full risk and performance data before deciding.
Head-to-head
Compare Foundation Series US Dividend Equity Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International Equities funds
Same manager
Other funds by Foundation Series
- Foundation Series Total World FundInternational Equities
- Foundation Series US 500 FundInternational Equities
- Foundation Series Hedged Total World FundInternational Equities
FMA risk band
Same risk band (5/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 5 funds →AI & integrations
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Foundation Series US Dividend Equity Fund?
Foundation Series US Dividend Equity Fund is managed by Foundation Series (parent: InvestNow / Apex Group). Low-cost passive index funds issued by FundRock NZ, distributed through InvestNow.
What asset class is the Foundation Series US Dividend Equity Fund?
It is a international equities managed fund. Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
What are the fees for the Foundation Series US Dividend Equity Fund?
The annual fund charge for the Foundation Series US Dividend Equity Fund is 0.06% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Foundation Series US Dividend Equity Fund?
The risk indicator is 5/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Foundation Series US Dividend Equity Fund a PIE fund?
Yes. The Foundation Series US Dividend Equity Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Foundation Series US Dividend Equity Fund?
Fund size (assets under management) is NZ$11 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Foundation Series US Dividend Equity Fund invest in?
The latest published top holdings are: Schwab U.S. Dividend Equity ETF (99.75%), Cash at Bank (BNZ) (0.25%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Foundation Series US Dividend Equity Fund?
The Foundation Series US Dividend Equity Fund is available via Foundation Series directly. Always read the current Product Disclosure Statement before investing.
Does equity fund pay dividends?
Yes. This fund holds the Schwab U.S. Dividend Equity ETF (99.75% of assets), which is constructed to track companies that pay dividends. Dividend income received by the fund is reinvested and reflected in the fund's unit price; as a PIE, any taxable income is capped at your prescribed investor rate (maximum 28%).
What is the difference between equity fund and dividend fund?
An equity fund invests in company shares and may hold any mix of dividend-paying and non-dividend-paying stocks. A dividend fund specifically selects equities based on dividend-payment history or yield. This fund is a dividend-focused equity fund, as it tracks an index of U.S. dividend-paying companies.
Are US equity funds a good investment?
That depends on your financial circumstances and investment goals. This fund carries a risk indicator of 5 out of 7 (FMA standardised scale), reflecting moderate-to-high volatility typical of equity exposure. Review the Product Disclosure Statement and FMA Disclose register (https://disclose-register.companiesoffice.govt.nz/) for full risk and performance data before deciding.