Fund-vs-fund · International FI
Daintree Core Income PIEvsDimensional Five-Year Diversified Fixed Interest PIE Fund
Daintree Core Income PIE (fund size NZ$336.9 million, annual fund charge 0.73%) and Dimensional Five-Year Diversified Fixed Interest PIE Fund (fund size NZ$276.4 million, annual fund charge 0.28%) are both international fixed interest managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 2.21% and 1.63%, per their quarterly fund updates filed on FMA Disclose.
Why these two differ
The most material structural difference between these two funds is how they are constructed. The Dimensional Five-Year Diversified Fixed Interest PIE Fund holds a directly disclosed portfolio of individual sovereign and supranational bonds — Belgian government, New Zealand government, EFSF, BNG Bank, and Province of Alberta securities each comprising roughly 2–2.7% of the fund — giving investors direct line-of-sight to underlying exposures. The Daintree Core Income PIE, by contrast, allocates 99.17% of its assets to a single underlying vehicle, the Daintree Core Income Trust NZD, with 0.83% held as NZD cash at bank. Investors in the Daintree PIE therefore hold indirect exposure whose constituent holdings are not visible at this layer of disclosure.
Fee structures diverge significantly. Dimensional discloses an annual fund charge of 0.28%, while Daintree discloses 0.73% — a 45-basis-point difference that, at current fund sizes, represents a meaningful cost differential over time, though neither fund's fee disclosure in this snapshot accounts for any fees embedded within the Daintree Core Income Trust itself.
Both funds sit at risk indicator 3 out of 7 on the FMA scale and report identical growth asset allocations of 0.07%. Fund sizes are comparable — Dimensional at approximately NZD 276.4 million and Daintree at approximately NZD 336.9 million. Five-year return data is not available for either fund in this snapshot. Both are categorised as International Fixed Interest.
Verify all details against each fund's current PDS 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 0.45% lower in annual fund charges (0.28% vs 0.73%).
- 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
Daintree
0.73%
Upper half of cohort
Dimensional
0.28%
Lowest 8% of cohort
5-year return p.a.
Past performance — not a predictor
Daintree
—
—
Dimensional
—
—
Fund size
Larger = more stable, lower close-risk
Daintree
NZ$337m
Largest 24% in cohort
Dimensional
NZ$276m
Upper half by size
| Metric | Daintree | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.73% | 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$337m | 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
Daintree
Daintree Core Income PIE
The Fund invests into the Daintree Core Income Trust with a diversified portfolio of international credit and fixed income securities and cash and applies a range of strategies that include duration and yield curve management, (actively managing the maturity profile of the portfolio), sector rotation and individual security selection. The aim of the Fund is to provide an absolute return (greater than cash) over time and a steady stream of income and capital stability over the medium term.Full Daintree Daintree Core Income PIE 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 Daintree Core Income PIE and the Dimensional Five-Year Diversified Fixed Interest PIE Fund?
Which fund has lower fees, Daintree Core Income PIE 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?
