Fund-vs-fund · Australasian Equities
Dimensional Australian Sustainability PIE Fund vs Octagon Australasian Equities Fund
Both are Australasian Equities 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: Octagon Australasian Equities Fund charges an annual fund fee of 1.17%, while Dimensional Australian Sustainability PIE Fund charges 0.35% — a gap of 0.82 percentage points that compounds meaningfully over time on similar asset allocations. Both funds sit at risk indicator 5 and hold an identical growth asset proportion of 98.31%, so the fee divergence is not explained by a difference in defensive positioning.
On five-year returns, Octagon discloses 7.85% per annum; Dimensional's five-year return figure is not available in this snapshot, likely reflecting the fund's shorter track record, so a like-for-like performance comparison cannot be made here. Fund sizes are broadly comparable — Octagon at approximately NZD 122.7 million and Dimensional at approximately NZD 117.7 million.
The portfolio construction philosophies differ visibly in the top holdings. Octagon's largest position is BHP Group at 9.82%, giving it notable concentration in a single resources stock. Dimensional's top holding is Commonwealth Bank of Australia at 5.7%, with no equivalent resources-sector anchor; the name "Sustainability" in Dimensional's fund title and the absence of BHP suggests an ESG or sustainability screen is applied, though investors should review the PDS directly to confirm the exact exclusion criteria and methodology.
Both funds are retail managed fund products; neither is a KiwiSaver scheme account product based on the data provided.
Always verify fees, returns, holdings, and investment objectives against each fund's current Product Disclosure Statement 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 Australian Sustainability PIE Fund charges 0.82% lower in annual fund charges (0.35% vs 1.17%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Australian Sustainability PIE Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Dimensional
0.35%
Lowest 18% of cohort
Octagon
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Octagon
7.85%
Top 17% over 5 years
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$118m
Upper half by size
Octagon
NZ$123m
Upper half by size
| Metric | Dimensional | Octagon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.35% | 1.17% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 7.85% | Higher is better (past not future) |
| Fund size | NZ$118m | NZ$123m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | Yes | 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.
Matching holdings
5
of each fund's top 10
Dimensional weight in shared
20.2%
of Dimensional Australian Sustainability PIE Fund top 10 is shared
Octagon weight in shared
20.0%
of Octagon Australasian Equities Fund top 10 is shared
| Holding | Dimensional | Octagon |
|---|---|---|
 Commonwealth Bank Of Australia AU | 5.70% | 7.20% |
 Westpac Banking Corporation AU | 4.90% | 4.74% |
 National Australia Bank Limited AU | 4.89% | 3.39% |
| TE Telstra Corporation Limited AU | 2.31% | 2.38% |
 Goodman Group AU | 2.38% | 2.27% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Dimensional
Dimensional Australian Sustainability PIE Fund
The fund is expected to be fully invested. A portion of the portfolio may be allocated to cash and cash equivalents for liquidity purposes. The fund is not managed with the objective of achieving a particular return relative to a benchmark index. However, to compare the performance of the fund with a broad measure of market performance, reference may be made to the S&P/ASX 300 Index (Total Return).Full Dimensional Dimensional Australian Sustainability PIE Fund profile →
Octagon
Octagon Australasian Equities Fund
The Australian Equities Fund invests mostly in Australian shares, and can invest in New Zealand listed shares, where the company has meaningful operations in Australia. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.Full Octagon Octagon Australasian Equities Fund profile →
Common questions
What's the difference between the Dimensional Australian Sustainability PIE Fund and the Octagon Australasian Equities Fund?
Which fund has lower fees, Dimensional Australian Sustainability PIE Fund or Octagon Australasian Equities 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?
