Fund-vs-fund · International FI
Dimensional Global Bond Sustainability 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 income funds is their duration and interest-rate risk profile. The Two-Year Sustainability Fixed Interest PIE Fund targets short-dated bonds, as reflected in its risk indicator of 2 (on the standard 1–7 scale) and top holdings clustered around 2027–2028 maturities. The Global Bond Sustainability PIE Fund carries a risk indicator of 3, with top holdings extending to 2034–2035, indicating meaningfully greater sensitivity to interest-rate movements over a longer duration. Investors accepting that additional duration risk pay a higher annual fund charge: 0.32% versus 0.25% for the shorter-dated fund.
Both funds sit in the International Fixed Income category, both are managed by Dimensional, and both share the same sustainability mandate and identical growth assets allocation of 0.13%. Fund size differs modestly — approximately NZD 264 million for the Two-Year fund versus NZD 214 million for the Global Bond fund. The holding concentration also differs: the Two-Year fund's largest position is 2.82% while the Global Bond fund's largest is 1.25%, suggesting broader diversification across issuers in the longer-dated vehicle. Neither fund discloses a five-year return figure in the current snapshot, so historical performance cannot be compared here. Both reference the same October 2025 PDS document on FMA Disclose.
Always verify fees, returns, risk indicators, and holdings against each fund's 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 Two-Year Sustainability Fixed Interest PIE Fund charges 0.07% lower in annual fund charges (0.25% vs 0.32%).
- 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
Dimensional
0.32%
Lowest 19% 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$213m
Upper half by size
Dimensional
NZ$264m
Upper half by size
| Metric | Dimensional | Dimensional | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.32% | 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$213m | 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 | Yes | Yes | Specific exclusions live in each fund's SIPO. |
| Available via | InvestNow | 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
Dimensional
Dimensional Global Bond Sustainability PIE Fund
Ordinarily the Fund gets exposure to a diverse portfolio of Investment Grade corporate and government global fixed interest securities, with a maximum maturity of twenty 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, while keeping the portfolio's overall weighted average duration similar to the overall weighted average duration of the global bond market. The Fund intends to achieve this exposure by investing in funds and/or directly in fixed interestFull Dimensional Dimensional Global Bond Sustainability 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 Global Bond Sustainability PIE Fund and the Dimensional Two-Year Sustainability Fixed Interest PIE Fund?
Which fund has lower fees, Dimensional Global Bond Sustainability PIE Fund or Dimensional Two-Year Sustainability Fixed Interest PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
