Fund-vs-fund · International FI
JPMorgan Global Bond FundvsSmart Global Aggregate Bond ETF
JPMorgan Global Bond Fund (fund size NZ$113.9 million, annual fund charge 0.47%) is an international fixed interest managed fund and Smart Global Aggregate Bond ETF (fund size NZ$36.1 million, annual fund charge 0.30%) is an international fixed interest ETF, as shown on Sorted Smart Investor on 22 May 2026; JPMorgan Global Bond Fund's 1-year return after fees and tax was 0.95% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
JPMorgan Global Bond Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Smart Global Aggregate Bond ETF
What's different at a glance
- Smart Global Aggregate Bond ETF charges 0.17% lower in annual fund charges (0.30% vs 0.47%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- JPMorgan Global Bond Fund is roughly 3.2× the size of the other fund.
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
JPMorgan
0.47%
Lower half of cohort
Smartshares
0.30%
Lowest 13% of cohort
5-year return p.a.
Past performance — not a predictor
JPMorgan
—
—
Smartshares
1.29%
Top 23% over 5 years
Fund size
Larger = more stable, lower close-risk
JPMorgan
NZ$114m
Lower half by size
Smartshares
NZ$36m
Smallest 24% in cohort
| Metric | JPMorgan | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.47% | 0.30% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | — | 1.29% | Higher is better (past not future) |
| Fund size | NZ$114m | 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
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 →
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 →
Common questions
What's the difference between the JPMorgan Global Bond Fund and the Smart Global Aggregate Bond ETF?
Which fund has lower fees, JPMorgan Global Bond Fund or Smart Global Aggregate Bond ETF?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
