Fund-vs-fund · International FI
Coolabah Long-Short Credit PIE Fund vs Dimensional Global Bond Sustainability 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 Global Bond Sustainability PIE Fund charges an annual fund charge of 0.32%, while the Coolabah Long-Short Credit PIE Fund charges 1.76% — a gap of 1.44 percentage points that compounds materially over time, particularly in a fixed income context where gross yield margins are typically narrow.
Both funds sit in the International Fixed Income category and share an identical risk indicator of 3 out of 7, yet their portfolio construction differs markedly. Dimensional holds a conventionally diversified bond portfolio anchored by investment-grade sovereign and quasi-sovereign issues — Canadian provincial bonds, UK gilts, and European government paper — with the largest single position at 1.25%. Coolabah's top five positions reveal a long-short, derivatives-active strategy: the largest disclosed holding is a EUR/AUD currency position at 10.1%, followed by AUD cash at 9.67%, suggesting active currency and relative-value positioning rather than a buy-and-hold bond ladder. Coolabah's growth asset allocation is 0.07% versus Dimensional's 0.13% — both negligible. Fund sizes are comparable: Dimensional at NZD 213 million, Coolabah at NZD 224 million.
Neither fund discloses a five-year return figure in the current snapshot, so no long-term performance comparison is available here. Both funds are non-KiwiSaver retail PIE vehicles.
Always verify fees, returns, and holdings against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
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 Global Bond Sustainability PIE Fund charges 1.44% lower in annual fund charges (0.32% vs 1.76%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Global Bond Sustainability PIE Fund applies responsible-investment / ESG screening. The other fund does not.
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
0.32%
Lowest 19% 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$213m
Upper half by size
| Metric | Coolabah | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.76% | 0.32% | 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$213m | 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 | Yes | 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 Global Bond Sustainability PIE Fund
Ordinarily the Fund gets exposure to a diverse portfolio of Investment Grade corporate and government global fixed interest securities, with a maximum maturity of twenty years from the date of settlement. Dimensional generally changes the portfolio's exposure to term risk and credit risk in response to changes in security prices, while keeping the portfolio's overall weighted average duration similar to the overall weighted average duration of the global bond market. The Fund intends to achieve this exposure by investing in funds and/or directly in fixed interestFull Dimensional Dimensional Global Bond Sustainability PIE Fund profile →
Common questions
What's the difference between the Coolabah Long-Short Credit PIE Fund and the Dimensional Global Bond Sustainability PIE Fund?
Which fund has lower fees, Coolabah Long-Short Credit PIE Fund or Dimensional Global Bond 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?
