Fund-vs-fund · International FI
Coolabah Long-Short Credit PIE Fund vs Dimensional Five-Year Diversified Fixed Interest PIE Fund
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 investment approach and cost. The Dimensional Five-Year Diversified Fixed Interest PIE Fund charges an annual fund charge of 0.28%, while the Coolabah Long-Short Credit PIE Fund charges 1.76% — a gap of 148 basis points that compounds meaningfully over time regardless of return outcomes. Both funds share an identical risk indicator of 3 and sit within the International Fixed Interest category, but their portfolios reveal very different strategies.
Dimensional's holdings are concentrated in sovereign and supranational bonds with defined maturities clustered around 2030 — Belgium, New Zealand Government, EFSF, BNG Bank, and Province of Alberta — suggesting a laddered, buy-and-hold orientation with minimal active trading. Coolabah's top holdings include a currency forward (EUR/AUD), significant AUD cash positions, and shorter-dated instruments, consistent with the fund's "long-short" label and an actively managed, derivatives-enabled credit strategy. Coolabah's growth assets sit at 0.07% versus Dimensional's 0.13%, though both are overwhelmingly income-oriented.
Dimensional's fund size is NZD 276.4 million; Coolabah's is NZD 223.8 million. Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here. Both funds have no KiwiSaver scheme account association noted in the available data.
Always verify all figures, fees, and fund details against each fund's current Product Disclosure Statement 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
- Dimensional Five-Year Diversified Fixed Interest PIE Fund charges 1.48% lower in annual fund charges (0.28% vs 1.76%).
- 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
Coolabah
1.76%
Highest 5% of cohort
Dimensional
0.28%
Lowest 8% of cohort
5-year return p.a.
Past performance — not a predictor
Coolabah
—
—
Dimensional
—
—
Fund size
Larger = more stable, lower close-risk
Coolabah
NZ$224m
Upper half by size
Dimensional
NZ$276m
Upper half by size
| Metric | Coolabah | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.76% | 0.28% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$224m | NZ$276m | 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 | InvestNow · Direct | InvestNow | 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
Coolabah
Coolabah Long-Short Credit PIE Fund
The fund provides exposure to an actively managed, absolute return fixed income strategy focused on exploiting long and short mispricings in global credit markets. The fund currently invests in an underlying fund managed by Coolabah Capital Investments (Retail) Pty Limited (Investment Manager) and targets a position of being fully hedged back to New Zealand dollars.Full Coolabah Coolabah Long-Short Credit PIE Fund profile →
Dimensional
Dimensional Five-Year Diversified Fixed Interest PIE Fund
Ordinarily the Fund gets exposure to a diverse portfolio of high credit quality corporate and government global fixed interest securities, with a maximum maturity of five years from the date of settlement. Dimensional generally changes the portfolio's exposure to term risk in response to changes in security prices. The Fund intends to achieve this exposure by investing in funds and/or directly in fixed interest securities. The Fund may also hold cash or cash equivalent securities, and currency hedging instruments.Full Dimensional Dimensional Five-Year Diversified Fixed Interest PIE Fund profile →
Common questions
What's the difference between the Coolabah Long-Short Credit PIE Fund and the Dimensional Five-Year Diversified Fixed Interest PIE Fund?
Which fund has lower fees, Coolabah Long-Short Credit PIE Fund or Dimensional Five-Year Diversified Fixed Interest PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
