Fund-vs-fund · NZ Fixed Interest
Amova Corporate Bond Fund vs Simplicity NZ 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 fee level. Simplicity NZ Bond Fund discloses an annual fund charge of 0.10%, while Amova Corporate Bond Fund charges 0.70% — a seven-fold difference that, compounded over time, will meaningfully affect net returns regardless of gross performance.
Despite that fee gap, the five-year returns reported in each fund's latest Quarterly Fund Update run in the opposite direction: Amova returns 1.63% per annum against Simplicity's 0.53%. Investors will want to consider whether that return differential reflects manager skill, portfolio construction, or the differing interest-rate environments each fund navigated, and whether it persists net of fees going forward.
Risk indicator also diverges: Amova sits at 3 (on the standard 1–7 scale) while Simplicity is rated 4, suggesting Simplicity's portfolio carries somewhat higher volatility or return variability as assessed under FMA methodology. Both funds hold an identical 0.07% in growth assets, confirming both are overwhelmingly income-oriented. Fund sizes are broadly comparable — Amova at approximately NZ$558 million, Simplicity at approximately NZ$674 million.
Portfolio composition differs in character: Amova's top holdings skew toward corporate and bank-issued bonds (BNZ, Rabobank, IAG), while Simplicity's are concentrated in New Zealand government bonds and supranational issuers (IBRD), indicating a meaningful difference in credit-quality profile and issuer diversification.
Neither fund is offered as a KiwiSaver scheme account based on the data provided here. Always verify figures against the current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Comparison generated 2026-07-05 from each fund's FMA Disclose QFU facts as at that date. If the underlying facts change, this narrative is withheld until it is regenerated — the tables on this page always reflect the current data.
What's different at a glance
- Simplicity NZ Bond Fund charges 0.60% lower in annual fund charges (0.10% 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
Simplicity
0.10%
Lowest 4% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
1.63%
Top 19% over 5 years
Simplicity
0.53%
Bottom 4% over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$558m
Largest 25% in cohort
Simplicity
NZ$674m
Largest 11% in cohort
| Metric | Amova | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.70% | 0.10% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.63% | 0.53% | Higher is better (past not future) |
| Fund size | NZ$558m | NZ$674m | 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 →
Simplicity
Simplicity NZ Bond Fund
The NZ Bond Fund invests in New Zealand government bonds and investment grade, liquid bonds issued in New Zealand dollars, designed to be the New Zealand bond component of a diversified investment portfolio.Full Simplicity Simplicity NZ Bond Fund profile →
Common questions
What's the difference between the Amova Corporate Bond Fund and the Simplicity NZ Bond Fund?
Which fund has lower fees, Amova Corporate Bond Fund or Simplicity NZ 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?
