Is Smartshares expensive?
Smartshares's funds average 0.70% in annual fees versus a peer median of 0.89% across all NZ KiwiSaver scheme funds. 21 of 65 Smartshares funds charge above their fund-type peer median; 44 charge below.
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
Per-fund fee vs peer median
| Fund | Type | Annual fee | Peer median | Δ vs median | Cohort size |
|---|---|---|---|---|---|
| QuayStreet Altum Fund | Balanced | 1.37% | 0.85% | +0.52 pp | 69 |
| QuayStreet New Zealand Equity Fund | Aggressive | 1.37% | 0.96% | +0.41 pp | 95 |
| QuayStreet Fixed Interest Fund | Defensive | 0.86% | 0.49% | +0.37 pp | 39 |
| QuayStreet International Equity (NZD Hedged) Fund | Aggressive | 1.27% | 0.96% | +0.31 pp | 95 |
| QuayStreet International Equity Fund | Aggressive | 1.27% | 0.96% | +0.31 pp | 95 |
| Castle Point 5 Oceans Fund | Aggressive | 1.26% | 0.96% | +0.30 pp | 95 |
| QuayStreet Balanced Fund | Balanced | 1.12% | 0.85% | +0.27 pp | 69 |
| QuayStreet Socially Responsible Investment Fund | Balanced | 1.12% | 0.85% | +0.27 pp | 69 |
| QuayStreet Australian Equity Fund | Growth | 1.37% | 1.10% | +0.27 pp | 59 |
| QuayStreet Growth Fund | Growth | 1.37% | 1.10% | +0.27 pp | 59 |
| SuperLife Income Fund | Defensive | 0.66% | 0.49% | +0.17 pp | 39 |
| S&P/NZX NZ Government Bond Fund | Defensive | 0.64% | 0.49% | +0.15 pp | 39 |
| NZ Cash Fund | Defensive | 0.62% | 0.49% | +0.13 pp | 39 |
| Global Aggregate Bond Fund | Defensive | 0.59% | 0.49% | +0.10 pp | 39 |
| Overseas Bonds Fund | Defensive | 0.59% | 0.49% | +0.10 pp | 39 |
| SuperLife Age Steps - Age 80 | Defensive | 0.56% | 0.49% | +0.07 pp | 39 |
| QuayStreet Income Fund | Defensive | 0.56% | 0.49% | +0.07 pp | 39 |
| Overseas Non-Government Bonds Fund | Defensive | 0.54% | 0.49% | +0.05 pp | 39 |
| NZ Bonds Fund | Defensive | 0.54% | 0.49% | +0.05 pp | 39 |
| UK Cash Fund | Defensive | 0.52% | 0.49% | +0.03 pp | 39 |
| QuayStreet Conservative Fund | Conservative | 0.86% | 0.85% | +0.01 pp | 43 |
| Ethica Fund | Balanced | 0.70% | 0.85% | -0.15 pp | 69 |
| SuperLife Balanced Fund | Balanced | 0.70% | 0.85% | -0.15 pp | 69 |
| SuperLife Conservative Fund | Conservative | 0.67% | 0.85% | -0.18 pp | 43 |
| SuperLife High Growth Fund | Aggressive | 0.73% | 0.96% | -0.23 pp | 95 |
| Emerging Markets Fund | Aggressive | 0.73% | 0.96% | -0.23 pp | 95 |
| SuperLife Age Steps - Age 60 | Balanced | 0.60% | 0.85% | -0.25 pp | 69 |
| SuperLife Age Steps - Age 70 | Balanced | 0.58% | 0.85% | -0.27 pp | 69 |
| S&P/NZX 50 Fund | Aggressive | 0.69% | 0.96% | -0.27 pp | 95 |
| S&P/ASX 200 Fund | Aggressive | 0.69% | 0.96% | -0.27 pp | 95 |
| Conservative Fund | Conservative | 0.57% | 0.85% | -0.28 pp | 43 |
| US Large Growth Fund | Aggressive | 0.67% | 0.96% | -0.29 pp | 95 |
| SuperLife Age Steps - Age 20 | Aggressive | 0.63% | 0.96% | -0.33 pp | 95 |
| NZ Property Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| NZ Top 10 Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Financials Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Resources Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Europe Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Shares Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Mid Cap Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| NZ Dividend Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Top 20 Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Dividend Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Australian Property Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Asia Pacific Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| NZ Top 50 Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| NZ Mid Cap Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| NZ Shares Fund | Aggressive | 0.59% | 0.96% | -0.37 pp | 95 |
| Overseas Shares (Currency Hedged) Fund | Aggressive | 0.58% | 0.96% | -0.38 pp | 95 |
| Global Property Fund | Aggressive | 0.58% | 0.96% | -0.38 pp | 95 |
| Total World Fund | Aggressive | 0.58% | 0.96% | -0.38 pp | 95 |
| Total World (NZD Hedged) Fund | Aggressive | 0.58% | 0.96% | -0.38 pp | 95 |
| Overseas Shares Fund | Aggressive | 0.58% | 0.96% | -0.38 pp | 95 |
| US Large Value Fund | Aggressive | 0.57% | 0.96% | -0.39 pp | 95 |
| US Small Cap Fund | Aggressive | 0.57% | 0.96% | -0.39 pp | 95 |
| US Mid Cap Fund | Aggressive | 0.57% | 0.96% | -0.39 pp | 95 |
| SuperLife Age Steps - Age 50 | Growth | 0.71% | 1.10% | -0.39 pp | 59 |
| SuperLife Growth Fund | Growth | 0.71% | 1.10% | -0.39 pp | 59 |
| US 500 Fund | Aggressive | 0.54% | 0.96% | -0.42 pp | 95 |
| QuayStreet High Growth Fund | Growth | 0.63% | 1.10% | -0.47 pp | 59 |
| SuperLife Age Steps - Age 30 | Growth | 0.62% | 1.10% | -0.48 pp | 59 |
| SuperLife Age Steps - Age 40 | Growth | 0.62% | 1.10% | -0.48 pp | 59 |
| Growth Fund | Growth | 0.61% | 1.10% | -0.49 pp | 59 |
| Balanced Fund | Growth | 0.60% | 1.10% | -0.50 pp | 59 |
| SuperLife Default Fund | Balanced | 0.20% | 0.85% | -0.65 pp | 69 |
pp = percentage points. Peer median computed across all NZ KiwiSaver scheme funds of the same fund-type, excluding Smartshares. Sourced from FMA-filed Quarterly Fund Updates.
Cheaper peer-class alternatives
For each Smartshares fund, the three cheapest peer-class alternatives in the same fund-type cohort. Mechanical fee comparison only — does not factor in returns, risk, manager skill, or asset-allocation differences.
Frequently asked questions
How do Smartshares's fees compare to other NZ KiwiSaver schemes?
Smartshares's funds average 0.70% in annual fees versus a peer median of 0.89% across all NZ KiwiSaver scheme funds. 21 of 65 Smartshares funds charge above their fund-type peer median; 44 charge below.
What is the peer median fee for a NZ KiwiSaver scheme fund?
Across all NZ KiwiSaver scheme funds in our coverage, the median annual fee is 0.89%. Median is shown rather than average because a small number of very-high-fee funds would distort the average.
Why does fee level matter for KiwiSaver members?
Illustrative — fees compound across multi-decade investment horizons. A sample sub-1-percentage-point annual-fee difference on a sample balance can compound to a material foregone end-balance over 30 years. Mechanical illustration only — past performance is not a reliable indicator of future returns.
Important Information
Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
Compare every fund on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.
Compare
Learn
Important Information and Disclosure
The information provided on this website is not a recommendation to buy, sell, or hold any financial products. Nothing on this website constitutes financial advice for the purposes of the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider.
Investing involves risk. The value of your investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.
Before making any investment decision, you should read the Product Disclosure Statement (PDS) for the fund carefully. If you have questions or are unclear about the implications of your investment decision, you should seek advice from a licensed Financial Advice Provider.
All information displayed is sourced from scheme providers, the Disclose Register, and the Sorted Smart Investor universal feed (operated by Te Ara Ahunga Ora Retirement Commission), or other publicly available sources. We take reasonable steps to ensure accuracy but cannot guarantee information is always current or complete.
FundCompare.co.nz may receive referral fees or commissions from scheme providers if you sign up via links on this website. These payments do not influence the order, ranking, or inclusion of products displayed.
For more information, please see our Terms of Service, Privacy Policy, and Disclosure Statement.
This website is operated by FundCompare.co.nz and is not endorsed by, or affiliated with, the New Zealand government or Inland Revenue. FundCompare.co.nz is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.
© 2026 FundCompare.co.nz. All rights reserved.