Fund-vs-fund · Australasian Equities
Clarity Trans-Tasman Value FundvsDimensional Australian Sustainability PIE Fund
Clarity Trans-Tasman Value Fund (fund size NZ$132.6 million, annual fund charge 1.06%) and Dimensional Australian Sustainability PIE Fund (fund size NZ$117.7 million, annual fund charge 0.35%) are both Australasian equities 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 13.87% and 19.60%, per their quarterly fund updates filed on FMA Disclose.
Why these two differ
Both funds invest across Australasian equities with nearly identical growth asset allocations (98.31%), but differ significantly in cost structure and risk profile. The Dimensional Australian Sustainability PIE Fund charges 0.35% annually, while the Clarity Trans-Tasman Value Fund charges 1.06%—a material 0.71 percentage-point gap that compounds substantially over time. This fee difference is the most structurally consequential distinction between them.
The funds also carry different risk indicators: Dimensional is rated 5 (higher volatility), while Clarity is rated 4 (moderate volatility). Their top holdings reflect divergent strategies. Dimensional's portfolio concentrates heavily in Australian banks—Commonwealth Bank (5.7%), Westpac (4.9%), and NAB (4.89%)—plus QBE Insurance and Fortescue. Clarity tilts toward diversification, with BHP (6.89%) and ANZ (6.32%) as anchors, but includes New Zealand-domiciled assets like Meridian Energy (3.74%) and Infratil (3.32%), providing trans-Tasman exposure as its name suggests.
Fund size favours Clarity (NZ$132.6m vs NZ$117.7m). Clarity discloses a five-year return of 5.78%; Dimensional's equivalent return is not available in the latest snapshot. Neither fund's performance data is sufficient to project forward returns, and past returns do not indicate future performance.
Verify the current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose for each fund before making any investment decision.
Comparison generated 2026-10-12 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
- Dimensional Australian Sustainability PIE Fund charges 0.71% lower in annual fund charges (0.35% vs 1.06%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Australian Sustainability PIE Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 57 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Clarity
1.06%
Upper half of cohort
Dimensional
0.35%
Lowest 18% of cohort
5-year return p.a.
Past performance — not a predictor
Clarity
5.78%
Top 24% over 5 years
Dimensional
—
—
Fund size
Larger = more stable, lower close-risk
Clarity
NZ$133m
Upper half by size
Dimensional
NZ$118m
Upper half by size
| Metric | Clarity | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.06% | 0.35% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 5.78% | — | Higher is better (past not future) |
| Fund size | NZ$133m | NZ$118m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | 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 | Yes | 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
1
of each fund's top 10
Clarity weight in shared
4.1%
of Clarity Trans-Tasman Value Fund top 10 is shared
Dimensional weight in shared
4.9%
of Dimensional Australian Sustainability PIE Fund top 10 is shared
| Holding | Clarity | Dimensional |
|---|---|---|
 National Australia Bank LtdAU | 4.11% | 4.89% |
"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
Clarity
Clarity Trans-Tasman Value Fund
The Fund will provide actively managed exposure to New Zealand and Australian equities. The Fund aims to generate a better return than the benchmark over the medium to long term. It employs a value investing strategy, typically favouring companies which offer higher earnings yields. We intend for the Fund to make quarterly income distributions.Full Clarity Clarity Trans-Tasman Value Fund profile →
Dimensional
Dimensional Australian Sustainability PIE Fund
The fund is expected to be fully invested. A portion of the portfolio may be allocated to cash and cash equivalents for liquidity purposes. The fund is not managed with the objective of achieving a particular return relative to a benchmark index. However, to compare the performance of the fund with a broad measure of market performance, reference may be made to the S&P/ASX 300 Index (Total Return).Full Dimensional Dimensional Australian Sustainability PIE Fund profile →
Common questions
What's the difference between the Clarity Trans-Tasman Value Fund and the Dimensional Australian Sustainability PIE Fund?
Which fund has lower fees, Clarity Trans-Tasman Value Fund or Dimensional Australian Sustainability PIE Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
