Fund-vs-fund · International FI
Fisher Funds Income Fund vs Smart Global Aggregate Bond ETF
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.
What's different at a glance
- Smart Global Aggregate Bond ETF charges 0.69% lower in annual fund charges (0.30% vs 0.99%).
- 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
0.99%
Highest 18% of cohort
Smartshares
0.30%
Lowest 13% of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
2.20%
Top 10% over 5 years
Smartshares
1.29%
Top 23% over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$42m
Lower half by size
Smartshares
NZ$36m
Smallest 24% in cohort
| Metric | Fisher Funds | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.99% | 0.30% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | 2.20% | 1.29% | Higher is better (past not future) |
| Fund size | NZ$42m | NZ$36m | 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 Income Fund
The fund aims to provide stable returns over the long term by investing in New Zealand and international fixed interest assetsFull Fisher Funds Fisher Funds Income Fund profile →
Smartshares
Smart Global Aggregate Bond ETF
The Smart Global Aggregate Bond ETF is designed to track the return (before tax, fees and other expenses) of the Bloomberg Global Aggregate Total Return Index Hedged NZD. The Index is comprised of global investment grade bonds. The currency exposure is hedged to the New Zealand dollar.Full Smartshares Smart Global Aggregate Bond ETF 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 Update56 kB · file fingerprint recorded
- + 4 more on the fund page
Smartshares
Common questions
What's the difference between the Fisher Funds Income Fund and the Smart Global Aggregate Bond ETF?
Which fund has lower fees, Fisher Funds Income Fund or Smart Global Aggregate Bond ETF?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
