Fund-vs-fund · International FI
Evidential Sustainable Global Bond Fund vs Russell Investments Global Fixed Interest Fund
Both are International FI 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 Evidential Sustainable Global Bond Fund charges an annual fund fee of 0.32%, while the Russell Investments Global Fixed Interest Fund charges 0.58% — a gap of 26 basis points that compounds meaningfully over time in a fixed income context where net returns are inherently modest.
Both funds sit in the International Fixed Income category, share an identical risk indicator of 4 on the standard 1–7 scale, report near-identical fund sizes (approximately NZD 564 million and NZD 600 million respectively), and both hold 0.07% in growth assets, making their defensive income profiles structurally comparable.
On returns, Russell Investments discloses a five-year annualised return of 0.34% as at its latest Quarterly Fund Update. Evidential's five-year return figure is not available in our snapshot — the fund appears to lack a sufficient performance history to generate that metric — so a like-for-like return comparison cannot be made.
Portfolio composition signals different approaches to sovereign and quasi-sovereign credit. Russell's disclosed top holdings are dominated by US Treasuries and cash positions, while Evidential's top holdings show named sovereign and sub-sovereign issuers spanning Canada, the United Kingdom, France, and Belgium, suggesting a more geographically diversified European and Commonwealth tilt with explicit ESG-screening implied by the "Sustainable" label.
Both managers publish a Product Disclosure Statement on FMA Disclose; the Russell PDS URL in our data references a Sustainable Global Shares document, which readers should confirm is the correct governing document for this fund.
Always verify current fees, returns, and portfolio details against each fund's latest Quarterly Fund Update and PDS 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
- Evidential Sustainable Global Bond Fund charges 0.26% lower in annual fund charges (0.32% vs 0.58%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Evidential Sustainable Global Bond Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 31 international fi funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Evidential
0.32%
Lowest 19% of cohort
Russell Investments
0.58%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Evidential
—
—
Russell Investments
0.34%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Evidential
NZ$600m
Largest 8% in cohort
Russell Investments
NZ$564m
Largest 11% in cohort
| Metric | Evidential | Russell Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.32% | 0.58% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 0.34% | Higher is better (past not future) |
| Fund size | NZ$600m | NZ$564m | 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 | Yes | 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
Evidential
Evidential Sustainable Global Bond Fund
The Fund provides investors with exposure to a diversified portfolio of intermediate term global fixed interest and money market securities whilst taking into account certain environmental and social considerations. The Fund aims to hedge all foreign currency exposure to the New Zealand dollar.Full Evidential Evidential Sustainable Global Bond Fund profile →
Russell Investments
Russell Investments Global Fixed Interest Fund
The underlying investment exposure is predominantly to debt securities issued by supranationals, international governments, quasi-government agencies and corporates as well as structured credit securities including mortgage-backed and asset backed securities. The underlying investment portfolio may also be exposed to low grade or unrated debt securities, emerging market securities and currency. The Fund employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and marketsFull Russell Investments Russell Investments Global Fixed Interest Fund profile →
Common questions
What's the difference between the Evidential Sustainable Global Bond Fund and the Russell Investments Global Fixed Interest Fund?
Which fund has lower fees, Evidential Sustainable Global Bond Fund or Russell Investments Global Fixed Interest Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
