Fund-vs-fund · International FI
Fisher Funds BondPlus Fund vs JPMorgan Global Bond 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 Fisher Funds BondPlus Fund charges an annual fund fee of 1.26%, while the JPMorgan Global Bond Fund charges 0.47% — a gap of 79 basis points that compounds meaningfully over time in a fixed income context where return margins are typically narrow.
On risk, the funds sit one step apart on the FMA's standardised scale: BondPlus is rated 3 (out of 7) and JPMorgan Global Bond is rated 4, indicating the latter carries somewhat higher expected volatility despite both sitting in the International Fixed Income category. Portfolio construction reflects different geographic tilts: BondPlus holds European sovereign debt prominently (UK Gilts, French and Italian government bonds) alongside meaningful cash positions, whereas JPMorgan Global Bond is concentrated in US Treasuries, with its top three named holdings all US government securities. Both funds hold similar amounts of income assets — BondPlus at 99.87% and JPMorgan at 99.93% — so neither is meaningfully blended toward growth.
On performance, BondPlus reports a five-year annualised return of 0.62%; JPMorgan Global Bond's five-year return figure is not disclosed in the current snapshot, so a like-for-like comparison on that metric is not possible. Fund sizes are comparable: BondPlus at approximately NZD 100.6 million and JPMorgan Global Bond at approximately NZD 113.9 million.
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 decisions.
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
- JPMorgan Global Bond Fund charges 0.79% lower in annual fund charges (0.47% 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
Fisher Funds
1.26%
Highest 11% of cohort
JPMorgan
0.47%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
0.53%
Upper half over 5 years
JPMorgan
—
—
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$95m
Lower half by size
JPMorgan
NZ$114m
Lower half by size
| Metric | Fisher Funds | JPMorgan | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.26% | 0.47% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 0.53% | — | Higher is better (past not future) |
| Fund size | NZ$95m | NZ$114m | 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
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 →
JPMorgan
JPMorgan Global Bond Fund
The Fund invests substantially all its assets in an underlying fund, which focuses on analysing fundamental, quantitative and technical factors across countries, sectors and issuers. This combines top down asset allocation and bottom-up security selection targeting diversified sources of portfolio return – including sector rotation, security selection, currencies and yield curve positioning. See the SIPO for more details.Full JPMorgan JPMorgan Global Bond Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
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
JPMorgan
Common questions
What's the difference between the Fisher Funds BondPlus Fund and the JPMorgan Global Bond Fund?
Which fund has lower fees, Fisher Funds BondPlus Fund or JPMorgan Global Bond Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
