Fund-vs-fund · International FI
ANZ Investments OneAnswer International Fixed Interest Fund vs Daintree High Income PIE
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 how they are built. The ANZ Investments OneAnswer International Fixed Interest Fund holds a diversified portfolio of individual bonds and mortgage-backed securities directly — with identifiable positions including FNMA TBA contracts, Government National Mortgage Association instruments, a US Treasury note, and a UK gilt — while the Daintree High Income PIE holds 98.06% of its assets in a single underlying vehicle, the Daintree High Income Trust NZD, with 1.94% in NZD cash. Investors in the Daintree fund are therefore exposed to the construction and risk profile of that underlying trust, which is not fully visible at the top-holdings level in this snapshot.
On risk, the two funds sit on opposite sides of a meaningful divide: ANZ carries a risk indicator of 4 and Daintree a risk indicator of 3, despite both being classified as International Fixed Interest. This likely reflects Daintree's materially lower growth-asset allocation (0.07% versus ANZ's 0.31%) and potentially shorter duration positioning within the underlying trust. ANZ's annual fund charge is 0.49%; Daintree's is 0.90%, a difference of 41 basis points. For five-year returns, ANZ discloses 0.57% per annum; Daintree's five-year return figure is not available in this snapshot, as the fund or its current structure may not have a sufficiently long track record. ANZ's fund is also considerably larger at approximately NZD 2.28 million versus Daintree's approximately NZD 744,000.
Always verify fees, returns, and holdings against the source PDS 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
- ANZ Investments OneAnswer International Fixed Interest Fund charges 0.41% lower in annual fund charges (0.49% vs 0.90%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- ANZ Investments OneAnswer International Fixed Interest Fund is roughly 3.1× 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
ANZ Investments
0.49%
Lower half of cohort
Daintree
0.90%
Highest 21% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
0.57%
Upper half over 5 years
Daintree
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$2m
Smallest 11% in cohort
Daintree
NZ$744k
Smallest 5% in cohort
| Metric | ANZ Investments | Daintree | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.49% | 0.90% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | 0.57% | — | Higher is better (past not future) |
| Fund size | NZ$2m | NZ$744k | 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
ANZ Investments
ANZ Investments OneAnswer International Fixed Interest Fund
The International Fixed Interest Fund invests mainly in international fixed interest assets. Investment may include fixed interest assets issued by governments or international companies, and cash and cash equivalents. The International Fixed Interest Fund aims to achieve a return (after the fund charge and before tax) that over the long-term is broadly in line with the relevant market index.Full ANZ Investments ANZ Investments OneAnswer International Fixed Interest Fund profile →
Daintree
Daintree High Income PIE
The Fund invests into the Daintree High Income Trust (Underlying Fund) that has a diversified portfolio of international credit fixed income securities and cash, with an allocation to non-investment grade securities. This Underlying Fund applies a range of strategies that include duration and yield curve management, sector rotation and individual security selection. The aim of the Fund is to provide income over the medium term and a total return (after fees) that exceeds the Benchmark.Full Daintree Daintree High Income PIE profile →
Common questions
What's the difference between the ANZ Investments OneAnswer International Fixed Interest Fund and the Daintree High Income PIE?
Which fund has lower fees, ANZ Investments OneAnswer International Fixed Interest Fund or Daintree High Income PIE?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
