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 fee level. The Dimensional Two-Year Sustainability Fixed Interest PIE Fund charges an annual fund charge of 0.25%, while the Coolabah Long-Short Credit PIE Fund charges 1.76% — a gap of 1.51 percentage points that will compound materially over time regardless of which fund delivers stronger gross returns.
The funds also differ in strategy and complexity. Dimensional's fund is a short-duration, sustainability-screened portfolio concentrated in high-grade government and quasi-government bonds — New Zealand Government bonds, NZ Local Government Funding Agency paper, and sovereign-backed issuers from Canada and Australia dominate the top holdings. Its risk indicator sits at 2 (on the standard 1–7 scale). Coolabah's fund is an active long-short credit strategy; its top positions include currency forwards, AUD cash holdings, and what appear to be hybrid or subordinated instruments, reflecting a more tactically managed approach. Its risk indicator is 3, reflecting modestly higher expected volatility.
Both funds report identical growth asset exposure (0.07%) and sit in the International Fixed Interest category. Fund sizes are comparable — approximately NZD 264 million (Dimensional) and NZD 224 million (Coolabah). Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here. Both funds are PIE funds structured for New Zealand retail investors.
Always verify fees, returns, risk indicators, and holdings against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figure here.
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 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 | 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 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?
