Overview

How is this fund different to others?

This fund provides exposure to the largest household names in the US, with the likes of Amazon, Apple, Walmart included in the fund. Created in 1957, the S&P 500 represents ~50% of the US stock market by value. Companies must be profitable, each have a valuation of at least USD $13 Billion and be listed on Nasdaq or New York stock exchanges to be included in the index. In other words, these are large and stable companies. Unlike other US based or unhedged versions, Kernel’s S&P 500 Fund is hedged to the NZ dollar. This means an investor can expect a return closer to that published in media, without gaining or losing when converting back to New Zealand. This fund tracks the S&P 500 Dynamic Hedged Index and provides diversification as well as long-term capital growth.

Holdings

As at October 31, 2023

Company	Country	Industry	Weight
Vanguard S&P 500 ETF	US	Equity holdings	100.22%
C& Cash & Cash Equivalents	-	Cash	0.25%
CH Currency Hedging	-		-0.47%
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Performance

• Range of returns

  -21.75%

  VS

  75.43%

  The lowest and highest 12 month returns, in 5 years to the end of October 2023*

• Growth of $10k

  $15,640

  For the 5 years to 31 October 2023, an investment of $10,000 would be up 56.40%*

• Investment Objective

  Growth & Diversification

  The fund is designed to provide long-term capital growth and diversification.

*These are the gross index returns, not including fees or taxes.

Risk

The risk indicator reflects how much the value of the Fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way. The lowest risk rating doesn’t mean “risk-free” and this risk indicator is not a guarantee of a Fund’s future performance.