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 cost. The Dimensional Five-Year Diversified Fixed Interest PIE Fund charges an annual fund fee of 0.28%, while the Coolabah Long-Short Credit PIE Fund charges 1.76% — a gap of 148 basis points. Over time, that difference in fee drag is a significant consideration for any investor evaluating net returns, particularly in a fixed income context where yield margins are typically modest.
Both funds share the same FMA risk indicator of 3 and an identical growth assets allocation of 0.07%, placing them at closely matched points on the risk spectrum within the International Fixed Interest category. Fund size is broadly comparable: Dimensional sits at approximately NZD 276 million; Coolabah at approximately NZD 224 million. Neither fund discloses a five-year return figure in the data available for this snapshot, so historical performance comparison is not possible here.
Portfolio construction differs substantially. Dimensional's disclosed holdings are conventional sovereign and supranational bonds — Belgium, New Zealand Government, EFSF, BNG Bank, Province of Alberta — suggesting a traditional long-only duration strategy. Coolabah's top holdings include currency derivatives (EUR/AUD), significant AUD cash positions, and shorter-dated instruments, consistent with its long-short credit mandate, which implies a more active, strategy-driven approach to credit markets.
Neither fund's five-year return is available in this snapshot, limiting any return-to-fee or return-to-risk analysis. Always verify current fees, returns, and strategy details against each fund's 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
- 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 | 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
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?
