Fund-vs-fund · International FI
Coolabah Active Composite Bond PIE Fund vs Fisher Funds BondPlus 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 their risk profile despite both sitting in the International Fixed Income category. The Coolabah Active Composite Bond PIE Fund carries a risk indicator of 4, one step higher than the Fisher Funds BondPlus Fund's rating of 3, suggesting meaningfully different expected return volatility within the same asset class — likely reflecting differences in credit quality, duration positioning, or use of leverage in Coolabah's active composite approach.
On fees, Coolabah charges 0.76% per annum versus Fisher Funds BondPlus at 1.26%, a gap of 50 basis points that compounds materially over time in a low-return asset class. Fisher Funds BondPlus reported a five-year annualised return of 0.62%; Coolabah's five-year return figure is not available in this snapshot, as the fund appears to lack sufficient history for that calculation.
Fund size is broadly comparable — Fisher Funds BondPlus at approximately NZD 100.6 million, Coolabah at approximately NZD 88.5 million. Both funds hold minimal growth assets (0.13% and 0.07% respectively), consistent with their fixed income mandates. Portfolio composition differs notably: Fisher Funds BondPlus shows concentration in sovereign debt including UK Gilts, French and Italian government bonds, while Coolabah's disclosed top holdings are predominantly Australian bank medium-term notes, reflecting a more credit-focused, shorter-tenor positioning.
Neither fund is a KiwiSaver scheme account product based on the available data. Readers should verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before making any investment decision.
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
- Coolabah Active Composite Bond PIE Fund charges 0.50% lower in annual fund charges (0.76% vs 1.26%).
- 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 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
Coolabah
0.76%
Upper half of cohort
Fisher Funds
1.26%
Highest 11% of cohort
5-year return p.a.
Past performance — not a predictor
Coolabah
—
—
Fisher Funds
0.53%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Coolabah
NZ$88m
Lower half by size
Fisher Funds
NZ$95m
Lower half by size
| Metric | Coolabah | Fisher Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.76% | 1.26% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | — | 0.53% | Higher is better (past not future) |
| Fund size | NZ$88m | NZ$95m | 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 | InvestNow · Direct | InvestNow · 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.
Matching holdings
1
of each fund's top 10
Coolabah weight in shared
6.6%
of Coolabah Active Composite Bond PIE Fund top 10 is shared
Fisher Funds weight in shared
0.9%
of Fisher Funds BondPlus Fund top 10 is shared
| Holding | Coolabah | Fisher Funds |
|---|---|---|
| PC PIE Cash NZ | 6.56% | 0.95% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Coolabah
Coolabah Active Composite Bond PIE Fund
The fund offers an actively managed fixed-income strategy focused on mispricings in government and corporate bond markets with an interest rate duration risk broadly similar to that of the Index. The fund currently invests in an underlying fund managed by Coolabah Capital Investments (Retail) Pty Limited (Investment Manager) and targets a position of being fully hedged back to New Zealand dollars.Full Coolabah Coolabah Active Composite Bond PIE Fund profile →
Fisher Funds
Fisher Funds BondPlus Fund
The fund aims to provide stable returns over the long term by investing in international fixed interest assetsFull Fisher Funds Fisher Funds BondPlus Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Coolabah
Fisher Funds
LiveLast verified 2026-05-08
- Other Material Information165 kB · file fingerprint recorded
- Product Disclosure Statement246 kB · file fingerprint recorded
- Product Disclosure Statement143 kB · file fingerprint recorded
- Product Disclosure Statement666 kB · file fingerprint recorded
- Product Disclosure Statement595 kB · file fingerprint recorded
- Quarterly Fund Update55 kB · file fingerprint recorded
Common questions
What's the difference between the Coolabah Active Composite Bond PIE Fund and the Fisher Funds BondPlus Fund?
Which fund has lower fees, Coolabah Active Composite Bond PIE Fund or Fisher Funds BondPlus Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
