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. The Octagon Australasian Equities Fund discloses an annual fund charge of 1.17%, while the Dimensional Australian Sustainability PIE Fund charges 0.35% — a gap of 0.82 percentage points that compounds meaningfully over time regardless of which fund's returns prove stronger.
Both funds share an identical risk indicator of 5 out of 7 and an identical growth assets allocation of 98.31%, placing them at the same point on the risk spectrum with near-fully-invested equity postures. Fund sizes are close: Octagon at approximately NZD 121.5 million versus Dimensional at approximately NZD 117.7 million.
On performance, Octagon discloses a five-year annualised return of 9.1%. Dimensional's five-year return figure is not available in this snapshot, so a like-for-like return comparison cannot be made here.
The portfolio construction reveals a philosophically important distinction: Dimensional's fund carries a "Sustainability" label and excludes BHP Group — the single largest Octagon holding at 8.59% — while retaining other Australian financials such as Commonwealth Bank (5.7%) and Westpac (4.9%). Octagon's top five are dominated by Australian miners and banks. Dimensional's inclusion of QBE Insurance and Fortescue (a lower-weight iron-ore producer) suggests a different screening methodology rather than a complete exclusion of resource exposure.
Neither fund is a KiwiSaver scheme account product based on the data provided. Always verify fees, returns, and holdings against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any figure here.
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 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 | InvestNow | InvestNow · 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?
