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. Fisher Funds BondPlus Fund discloses an annual fund charge of 1.26%, compared with JPMorgan Global Bond Fund's 0.47% — a gap of 0.79 percentage points that compounds directly against net returns in the same International Fixed Income category.
Despite that fee difference, the two funds share notable similarities. Both sit at a near-identical income-asset allocation, with growth assets reported at 0.07% for each. Fund sizes are comparable: Fisher BondPlus at approximately NZD 94.9 million, JPMorgan Global Bond at approximately NZD 113.9 million.
Risk profile diverges, however. Fisher BondPlus carries a risk indicator of 3, while JPMorgan Global Bond is rated 4 on the standard FMA seven-point scale — meaning JPMorgan's fund is classified as carrying greater volatility risk despite both being fixed income strategies.
Portfolio construction also differs. Fisher BondPlus holds a diversified spread of sovereign issuers including UK Gilts, US Treasuries, China Development Bank, and French government bonds, with a 5.67% cash position at ANZ. JPMorgan's fund is heavily concentrated in US Treasuries across multiple maturities, together comprising the bulk of its top five holdings, alongside a JPMorgan USD liquidity vehicle at 5.65%.
On performance, Fisher BondPlus discloses a five-year annualised return of 0.53%; JPMorgan Global Bond's five-year return figure is not available in this snapshot. Investors should verify all figures against each fund's current product disclosure statement 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
- 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
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?
