Fund-vs-fund · International Equities
Dimensional Global Sustainability PIE Fund (NZD Hedged) vs Harbour T. Rowe Price Global Equity Fund
Both are International 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 Harbour T. Rowe Price Global Equity Fund charges an annual fund fee of 1.21%, while the Dimensional Global Sustainability PIE Fund (NZD Hedged) charges 0.40% — a gap of 0.81 percentage points that compounds meaningfully over time regardless of which fund delivers stronger gross returns.
Both funds sit in the International Equities category, carry a risk indicator of 5 out of 7, and hold an almost identical growth asset allocation of 98.31%. Fund sizes are also closely matched at approximately NZD 684 million (Harbour) and NZD 686 million (Dimensional). The Harbour fund reports a five-year annualised return of 8.16%; the Dimensional fund's five-year return figure is not available in the current snapshot, which limits direct performance comparison.
The investment approaches appear structurally different. The Harbour fund is sub-advised by T. Rowe Price and follows an active, concentrated style — NVIDIA is its largest holding at 5.83%, with the top five names representing over 21% of the portfolio. The Dimensional fund explicitly names sustainability in its mandate and is NZD-hedged, removing currency exposure that the Harbour fund retains. Dimensional's top five holdings are more evenly spread, with Apple leading at 5.00%, and the fund's systematic, factor-based construction contrasts with T. Rowe Price's active stock selection.
Investors considering either fund should verify all fees, returns, holdings, and investment mandates against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures 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 Global Sustainability PIE Fund (NZD Hedged) charges 0.81% lower in annual fund charges (0.40% vs 1.21%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Dimensional Global Sustainability PIE Fund (NZD Hedged) applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 81 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Dimensional
0.40%
Lower half of cohort
Harbour
1.21%
Highest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Harbour
5.66%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$686m
Largest 13% in cohort
Harbour
NZ$599m
Largest 14% in cohort
| Metric | Dimensional | Harbour | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.40% | 1.21% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 5.66% | Higher is better (past not future) |
| Fund size | NZ$686m | NZ$599m | 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 to NZD | — | 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
4
of each fund's top 10
Dimensional weight in shared
13.6%
of Dimensional Global Sustainability PIE Fund (NZD Hedged) top 10 is shared
Harbour weight in shared
14.7%
of Harbour T. Rowe Price Global Equity Fund top 10 is shared
| Holding | Dimensional | Harbour |
|---|---|---|
 Nvidia Corp US | 4.96% | 5.68% |
 Apple Inc US | 5.00% | 3.99% |
 Amazon Com Inc US | 1.97% | 2.14% |
 Microsoft Corp US | 1.69% | 2.86% |
"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 Global Sustainability PIE Fund (NZD Hedged)
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 MSCI World ex Australia Index (net div., hedged to NZD).Full Dimensional Dimensional Global Sustainability PIE Fund (NZD Hedged) profile →
Harbour
Harbour T. Rowe Price Global Equity Fund
The Fund invests primarily in a portfolio of securities of companies which are traded, listed or due to be listed, on recognised exchanges and/or markets throughout the world. It may include securities of companies traded on recognised exchanges of developing countries.Full Harbour Harbour T. Rowe Price Global Equity Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Dimensional
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 8 more on the fund page
Common questions
What's the difference between the Dimensional Global Sustainability PIE Fund (NZD Hedged) and the Harbour T. Rowe Price Global Equity Fund?
Which fund has lower fees, Dimensional Global Sustainability PIE Fund (NZD Hedged) or Harbour T. Rowe Price Global Equity 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?
