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 their portfolios are constructed. The ANZ Investments OneAnswer International Fixed Interest Fund holds a diversified basket of individual securities — its disclosed top holdings include a US Treasury bond (0.84%) and a UK Gilt (0.80%), suggesting broad direct exposure across global sovereign debt markets, with 0.31% of assets classified as growth assets. The Daintree High Income PIE, by contrast, invests almost entirely through a single underlying vehicle: the Daintree High Income Trust NZD accounts for 98.06% of the fund, with the remainder held as NZD cash. This fund-of-fund structure means investors in the PIE have limited visibility into the underlying security-level holdings from this snapshot alone.
On risk, the ANZ fund carries a risk indicator of 4 (out of 7) versus Daintree's indicator of 3, despite Daintree's higher allocation to income-oriented assets (only 0.07% growth assets compared to ANZ's 0.31%). Annual fund charges differ materially: ANZ discloses 0.49% versus Daintree's 0.90%. Fund size also diverges — ANZ sits at approximately NZD 2.28 million, Daintree at approximately NZD 744,000. ANZ reports a five-year annualised return of 0.57%; Daintree's five-year return figure is not available in the current snapshot, likely reflecting a shorter track record. Neither fund is a KiwiSaver scheme account based on the data provided. Readers should verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
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 | InvestNow · Direct | InvestNow · 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?
