Fund-vs-fund · International FI
Russell Investments Global Fixed Interest FundvsSimplicity Hedged Global Bond Fund
Russell Investments Global Fixed Interest Fund (fund size NZ$564.0 million, annual fund charge 0.58%) and Simplicity Hedged Global Bond Fund (fund size NZ$964.0 million, annual fund charge 0.15%) are both international fixed interest managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 1.08% and 1.19%, per their quarterly fund updates 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.
Russell Investments Global Fixed Interest Fund
Simplicity Hedged Global Bond Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
The most material structural difference between these two funds is cost. Simplicity Hedged Global Bond Fund charges an annual fund fee of 0.15%, while Russell Investments Global Fixed Interest Fund charges 0.58% — nearly four times higher. Over a long holding period, that fee gap compounds materially against net returns regardless of which fund performs better in any given year.
Both funds sit in the International Fixed Interest category, carry an identical risk indicator of 4 out of 7, and report identical growth asset allocations of 0.07%. Fund size differs: Simplicity's fund holds approximately NZD 964 million versus Russell's NZD 564 million, though neither figure alone signals quality.
On returns, Russell discloses a five-year annualised return of 0.34%; Simplicity's five-year return figure is not available in this snapshot and cannot be compared on that basis. The absence of a five-year figure for Simplicity is a meaningful gap for investors assessing long-run performance.
The portfolio construction also differs in character. Simplicity's disclosed top holdings are all individually named United States Treasury bonds, each at 0.23% weight, suggesting a direct, transparent bond ladder approach. Russell's top holdings are labelled in more aggregated terms — "US TREASURY N/B," "Settled Cash," and "TBA true cash reduction" — indicating a pooled or multi-manager structure where underlying exposures are less immediately legible from the QFU alone. Simplicity's name signals currency hedging; Russell's fund name makes no explicit hedging reference.
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
- Simplicity Hedged Global Bond Fund charges 0.43% lower in annual fund charges (0.15% vs 0.58%).
- 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
Russell Investments
0.58%
Lower half of cohort
Simplicity
0.15%
Lowest 2% of cohort
5-year return p.a.
Past performance — not a predictor
Russell Investments
0.34%
Lower half over 5 years
Simplicity
—
—
Fund size
Larger = more stable, lower close-risk
Russell Investments
NZ$564m
Largest 11% in cohort
Simplicity
NZ$964m
Largest 5% in cohort
| Metric | Russell Investments | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.58% | 0.15% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 0.34% | — | Higher is better (past not future) |
| Fund size | NZ$564m | NZ$964m | 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 to NZD | 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.
Matching holdings
3
of each fund's top 10
Russell Investments weight in shared
5.5%
of Russell Investments Global Fixed Interest Fund top 10 is shared
Simplicity weight in shared
3.0%
of Simplicity Hedged Global Bond Fund top 10 is shared
| Holding | Russell Investments | Simplicity |
|---|---|---|
SCSettled CashNZ | 2.39% | 0.99% |
TTTBA true cash reductionUS | 1.60% | 0.99% |
$Cash Held at BrokerNZ | 1.54% | 0.99% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Russell Investments
Russell Investments Global Fixed Interest Fund
The underlying investment exposure is predominantly to debt securities issued by supranationals, international governments, quasi-government agencies and corporates as well as structured credit securities including mortgage-backed and asset backed securities. The underlying investment portfolio may also be exposed to low grade or unrated debt securities, emerging market securities and currency. The Fund employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and marketsFull Russell Investments Russell Investments Global Fixed Interest Fund profile →
Simplicity
Simplicity Hedged Global Bond Fund
The Hedged Global Bond Fund invests in government bonds and other highly rated liquid bonds., designed to generate a return similar to the performance of the Bloomberg MSCI Global Aggregate Sustainability Select SRI Float Adjusted Index (hedged into New Zealand dollars) and to be the hedged global bond component of a diversified investment portfolio.Full Simplicity Simplicity Hedged Global Bond Fund profile →
Common questions
What's the difference between the Russell Investments Global Fixed Interest Fund and the Simplicity Hedged Global Bond Fund?
Which fund has lower fees, Russell Investments Global Fixed Interest Fund or Simplicity Hedged Global Bond Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
