Fund-vs-fund · Australasian Equities
Dimensional Australian Sustainability PIE Fund vs Smart Australian Resources ETF
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 their investment mandate and resulting concentration profile. The Smartshares Australian Resources ETF tracks Australian resources and energy companies, producing an extremely concentrated portfolio where BHP Group Ltd alone accounts for 35.17% of the fund, with Woodside Energy and Rio Tinto taking a further 17.41% combined. The Dimensional Australian Sustainability PIE Fund applies a sustainability screen across the broader Australian market, distributing weight more evenly — its largest holding, Commonwealth Bank of Australia, sits at 5.70%, with the top five holdings totalling around 20.92%. This distinction in mandate — sector-specific versus broad market with an ESG filter — drives meaningfully different sector exposure despite both funds sitting at 98.31% growth assets.
On fees, Dimensional charges 0.35% annually versus Smartshares' 0.54%, a difference of 19 basis points. Risk indicators diverge too: the Resources ETF carries a risk indicator of 6, one band above Dimensional's 5, consistent with its narrower sector focus. The Smartshares fund reports a five-year return of 12.80% per annum; Dimensional's five-year return figure is not available in this snapshot, so a like-for-like historical performance comparison cannot be made here. Both funds are similarly sized, at approximately NZD 114.4 million and NZD 117.7 million respectively.
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.
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 0.19% lower in annual fund charges (0.35% vs 0.54%).
- 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
Smartshares
0.54%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Smartshares
12.80%
Top 5% over 5 years
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$118m
Upper half by size
Smartshares
NZ$114m
Upper half by size
| Metric | Dimensional | Smartshares | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.35% | 0.54% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | — | 12.80% | Higher is better (past not future) |
| Fund size | NZ$118m | NZ$114m | 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.
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 →
Smartshares
Smart Australian Resources ETF
The Smart Australian Resources ETF is designed to track the return (before tax, fees and other expenses) of the S&P/ASX 200 Resources Index. The Index is comprised of companies from the S&P/ASX 200 Index where the company is classified as belonging to the energy sector or the metals and mining industry.Full Smartshares Smart Australian Resources ETF profile →
Common questions
What's the difference between the Dimensional Australian Sustainability PIE Fund and the Smart Australian Resources ETF?
Which fund has lower fees, Dimensional Australian Sustainability PIE Fund or Smart Australian Resources ETF?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
