Fund-vs-fund · International FI
Coolabah Long-Short Credit PIE Fund vs Dimensional Two-Year Sustainability 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 strategy and cost. The Dimensional Two-Year Sustainability Fixed Interest PIE Fund pursues a straightforward long-only approach to short-duration, investment-grade fixed interest, holding identifiable government and supranational bonds — New Zealand Government, NZ Local Government Funding Agency, CPPIB Capital, Province of Alberta, and Queensland Treasury Corp feature in its top five. The Coolabah Long-Short Credit PIE Fund, as its name signals, employs a long-short credit strategy; its top holdings include currency forwards, AUD cash positions, and instruments labelled with ticker-style identifiers, reflecting a more complex, actively traded portfolio that takes both long and short positions across credit markets.
This strategic difference flows directly into fee and risk outcomes. Dimensional charges 0.25% in annual fund charges against Coolabah's 1.76% — a 1.51 percentage point gap that compounds materially over time. Coolabah also carries a higher risk indicator (3 versus Dimensional's 2 on the standard 1–7 scale), despite holding a slightly lower proportion of growth assets (0.07% versus 0.13%). Neither fund discloses a five-year return figure in this snapshot, so historical performance comparison is not currently possible here.
By fund size, Dimensional is larger at approximately NZD 264 million versus Coolabah's NZD 224 million, though both are comparable in scale for retail funds. Both are PIE funds in the International Fixed Interest category.
Always verify fees, returns, risk indicators, and strategy details against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of the above.
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 Two-Year Sustainability Fixed Interest PIE Fund charges 1.51% lower in annual fund charges (0.25% vs 1.76%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Two-Year Sustainability Fixed Interest 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
0.25%
Lowest 5% 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$264m
Upper half by size
| Metric | Coolabah | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.76% | 0.25% | Lower is better |
| Risk indicator (1–7) | 3 | 2 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$224m | NZ$264m | 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 Two-Year Sustainability Fixed Interest PIE Fund
Ordinarily the Fund gets exposure to a diverse portfolio of Investment Grade corporate and government global fixed interest securities, with an overall maximum weighted average duration of two years, and for any individual security, a maximum maturity of three 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. 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 eFull Dimensional Dimensional Two-Year Sustainability Fixed Interest PIE Fund profile →
Common questions
What's the difference between the Coolabah Long-Short Credit PIE Fund and the Dimensional Two-Year Sustainability Fixed Interest PIE Fund?
Which fund has lower fees, Coolabah Long-Short Credit PIE Fund or Dimensional Two-Year Sustainability Fixed Interest 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?
