Fund-vs-fund · NZ Fixed Interest
Amova Corporate Bond Fund vs Harbour NZ Corporate Bond Fund
Both are NZ Fixed Interest 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.
Why these two differ
The most material structural difference between these two funds is cost. The Harbour NZ Corporate Bond Fund discloses an annual fund charge of 0.47%, compared with 0.70% for the Amova Corporate Bond Fund — a gap of 23 basis points that compounds meaningfully over time in a low-return fixed interest environment. Both funds carry the same risk indicator of 3 (on a scale of 1–7) and an identical income/growth asset split of 99.87% income to 0.13% growth, so their risk profiles and structural allocations are closely matched.
On five-year returns, Amova returned 1.63% per annum against Harbour's 1.38% — a 25-basis-point performance advantage that roughly offsets the fee differential in gross terms, though investors would need to assess net-of-fee outcomes over their own investment horizon. Fund sizes are comparable: Amova at approximately NZD 558 million and Harbour at approximately NZD 609 million.
The portfolio composition differs in a notable way. Harbour's top five holdings are dominated by NZ Government Stock positions (three lines totalling over 14% combined), suggesting a heavier government-bond anchor. Amova's top holdings show a more diversified spread across Housing NZ, LGFA, and bank and insurance corporate issuers, with no single issuer type as concentrated at the top of the portfolio.
Neither fund is a KiwiSaver scheme account product based on the data in this snapshot; investors should confirm scheme status independently.
Always verify fees, returns, holdings, and fund details against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Harbour NZ Corporate Bond Fund charges 0.23% lower in annual fund charges (0.47% vs 0.70%).
- 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 14 nz fixed interest funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Amova
0.70%
Upper half of cohort
Harbour
0.47%
Lowest 25% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
1.63%
Top 19% over 5 years
Harbour
1.57%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$558m
Largest 25% in cohort
Harbour
NZ$619m
Largest 18% in cohort
| Metric | Amova | Harbour | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.70% | 0.47% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | 1.63% | 1.57% | Higher is better (past not future) |
| Fund size | NZ$558m | NZ$619m | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | 0% / 100% | 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.
What each fund says it does
Amova
Amova Corporate Bond Fund
The Fund aims to outperform the Bloomberg NZBond Credit 0+ Year Index by 0.70% p.A. Over a rolling three year period before fees, expenses and taxes. The fund aims to provide investors with regular income by constructing an actively managed investment portfolio of New Zealand bonds, deposits and cash whilst preserving the capital value.Full Amova Amova Corporate Bond Fund profile →
Harbour
Harbour NZ Corporate Bond Fund
The Fund is designed for investors seeking income with scope for capital appreciation and/or with a low tolerance for large declines in investment values. The Fund invests predominantly in New Zealand investment grade fixed interest securities and Australasian equities which pay a sustainable dividend yield. Other tools, such as active management and scope to invest in sub investment grade securities may also be used to enhance returns.Full Harbour Harbour NZ Corporate Bond Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Amova
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 9 more on the fund page
Common questions
What's the difference between the Amova Corporate Bond Fund and the Harbour NZ Corporate Bond Fund?
Which fund has lower fees, Amova Corporate Bond Fund or Harbour NZ Corporate Bond Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
