Fund-vs-fund · NZ Fixed Interest
Harbour NZ Corporate Bond Fund vs Simplicity NZ Bond Fund
Both are NZ Fixed Interest 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 indicator rating: Harbour NZ Corporate Bond Fund sits at 3 on the 1–7 scale, while Simplicity NZ Bond Fund sits at 4, suggesting Simplicity carries a higher expected return volatility profile despite both funds holding an identical 0.07% in growth assets. This divergence likely reflects differences in duration and credit composition rather than equity exposure.
Fee structure is the next significant contrast. Harbour charges an annual fund charge of 0.47%, versus Simplicity's 0.10% — a difference of 0.37 percentage points that compounds meaningfully over time in a low-return asset class. Over the five-year period captured in each fund's latest quarterly fund update, Harbour returned 1.57% per annum against Simplicity's 0.53%, though past returns are not a reliable guide to future performance and the fee gap partially narrows that differential in net terms.
Both funds are similarly sized — Harbour at approximately NZD 619 million and Simplicity at approximately NZD 674 million — and both have comparable top-holdings profiles anchored in New Zealand government bonds, though Simplicity's top five includes an IBRD supranational bond (5.67%) and a longer-dated 2054 government bond, while Harbour's visible exposure concentrates on shorter-to-medium NZ government stock maturities and a Kiwibank floating-rate note. Neither fund is a KiwiSaver scheme account in its own right based on the data provided here.
Always verify fees, risk indicators, and holdings against the source PDS and latest quarterly fund update on FMA Disclose before relying on any figures here.
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
- Simplicity NZ Bond Fund charges 0.37% lower in annual fund charges (0.10% vs 0.47%).
- 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 14 nz fixed interest funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Harbour
0.47%
Lowest 25% of cohort
Simplicity
0.10%
Lowest 4% of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
1.57%
Upper half over 5 years
Simplicity
0.53%
Bottom 4% over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$619m
Largest 18% in cohort
Simplicity
NZ$674m
Largest 11% in cohort
| Metric | Harbour | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.47% | 0.10% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.57% | 0.53% | Higher is better (past not future) |
| Fund size | NZ$619m | NZ$674m | 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
Harbour
Harbour NZ Corporate Bond Fund
The Fund is designed for investors seeking income with scope for capital appreciation and/or with a low tolerance for large declines in investment values. The Fund invests predominantly in New Zealand investment grade fixed interest securities and Australasian equities which pay a sustainable dividend yield. Other tools, such as active management and scope to invest in sub investment grade securities may also be used to enhance returns.Full Harbour Harbour NZ Corporate Bond Fund profile →
Simplicity
Simplicity NZ Bond Fund
The NZ Bond Fund invests in New Zealand government bonds and investment grade, liquid bonds issued in New Zealand dollars, designed to be the New Zealand bond component of a diversified investment portfolio.Full Simplicity Simplicity NZ Bond Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Harbour
LiveLast verified 2026-05-08
Simplicity
Common questions
What's the difference between the Harbour NZ Corporate Bond Fund and the Simplicity NZ Bond Fund?
Which fund has lower fees, Harbour NZ Corporate Bond Fund or Simplicity NZ Bond Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
