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 fee of 0.32%, while the Coolabah Long-Short Credit PIE Fund charges 1.76% — a gap of 1.44 percentage points that compounds directly against net returns over time. Both funds sit in the International Fixed Income category, carry an identical risk indicator of 3 out of 7, and report an identical growth assets allocation of 0.07%, so the fee differential is not explained by a difference in stated risk profile or asset-class positioning.
Portfolio construction reveals a further strategic contrast. Dimensional's disclosed holdings are concentrated in named government and quasi-government bonds across Canada, the UK, France, and Belgium, with individual weights clustering around 1.0–1.25% — a pattern consistent with a broadly diversified, long-only bond mandate. Coolabah's top holdings include a currency forward (EUR/AUD), significant AUD cash positions, and instruments labelled with short-form identifiers, reflecting the long-short, derivatives-active approach signalled by the fund's name. The single largest Coolabah holding (10.1%) is roughly eight times the size of Dimensional's largest disclosed position, indicating materially higher concentration at the top of the book.
Fund size is broadly comparable: Dimensional at NZD 213.2 million, Coolabah at NZD 223.8 million. Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here. Neither fund is a KiwiSaver scheme account product based on the data provided.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary for any investment decision.
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 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 | 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 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?
