Fund-vs-fund · International FI
Daintree Core Income PIE vs Dimensional Five-Year Diversified 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 is how each fund holds its assets. The Dimensional Five-Year Diversified Fixed Interest PIE Fund invests directly in individual government and supranational bonds — Belgium, New Zealand Government, EFSF, BNG Bank NV, and Province of Alberta bonds each representing roughly 2–2.7% of the portfolio — giving investors direct transparency into underlying exposures. The Daintree Core Income PIE, by contrast, allocates 99.17% of its assets into a single underlying vehicle, the Daintree Core Income Trust NZD, with 0.83% in NZD cash; investors in the PIE are therefore gaining exposure through a trust wrapper rather than directly held securities, and the composition of that underlying trust requires separate investigation.
Fee structures differ substantially: Dimensional discloses an annual fund charge of 0.28%, while Daintree's is 0.73% — a 45-basis-point gap that compounds materially over time in a fixed income context where return margins are typically narrow.
Both funds carry a risk indicator of 3 out of 7 and sit in the International Fixed Income category. Fund sizes are comparable — Dimensional at approximately NZD 276 million and Daintree at approximately NZD 337 million. Growth asset allocations differ slightly: Dimensional at 0.13% and Daintree at 0.07%. Neither fund discloses a five-year return figure in this snapshot, so historical performance comparisons cannot be drawn from this data alone.
Verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any of this information.
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 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 | 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
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?
