Fund-vs-fund · International FI
Dimensional Five-Year Diversified Fixed Interest PIE Fund vs Dimensional Two-Year Sustainability 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 between these two Dimensional fixed interest PIE funds is their duration profile, which directly drives their divergent risk ratings. The Two-Year Sustainability fund targets shorter-dated bonds — its disclosed top holdings cluster around 2027–2028 maturities — and carries a risk indicator of 2 out of 7. The Five-Year Diversified fund holds bonds maturing predominantly around 2030, extending interest-rate sensitivity, and is rated 3 out of 7 on the same FMA risk scale. Longer duration typically means greater price volatility when interest rates move, which is the primary reason for the higher risk indicator on Fund B.
Both funds are managed by Dimensional, sit in the International Fixed Interest category, share an identical growth assets allocation of 0.07%, and are similar in size — Fund A at approximately NZD 264 million and Fund B at approximately NZD 276 million. The annual fund charge differs modestly: Fund A discloses 0.25% and Fund B discloses 0.28%. The Two-Year fund's name references a sustainability screen, suggesting an ESG overlay in issuer selection, while the Five-Year fund's name indicates broader diversification without an explicit sustainability label; the QFU data available in this snapshot does not elaborate further on the screening methodology for either fund. Five-year return figures are not disclosed for either fund in the current snapshot.
Both funds share the same PDS on FMA Disclose. Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- Annual fund charges are within 0.05% of each other (0.28% vs 0.25%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Two-Year Sustainability Fixed Interest PIE Fund applies responsible-investment / ESG screening. The other fund does not.
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
Dimensional
0.28%
Lowest 8% of cohort
Dimensional
0.25%
Lowest 5% of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Dimensional
—
—
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$276m
Upper half by size
Dimensional
NZ$264m
Upper half by size
| Metric | Dimensional | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.28% | 0.25% | Lower is better |
| Risk indicator (1–7) | 3 | 2 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$276m | NZ$264m | 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 to NZD | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | Yes | 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 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 →
Dimensional
Dimensional Two-Year Sustainability Fixed Interest PIE Fund
Ordinarily the Fund gets exposure to a diverse portfolio of Investment Grade corporate and government global fixed interest securities, with an overall maximum weighted average duration of two years, and for any individual security, a maximum maturity of three years from the date of settlement. Dimensional generally changes the portfolio's exposure to term risk and credit 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 eFull Dimensional Dimensional Two-Year Sustainability Fixed Interest PIE Fund profile →
Common questions
What's the difference between the Dimensional Five-Year Diversified Fixed Interest PIE Fund and the Dimensional Two-Year Sustainability Fixed Interest PIE Fund?
Which fund has lower fees, Dimensional Five-Year Diversified Fixed Interest PIE Fund or Dimensional Two-Year Sustainability Fixed Interest PIE 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?
