Fund-vs-fund · International Equities
Dimensional Global Sustainability PIE Fund (NZD Hedged) vs Russell Investments Hedged Sustainable Global Shares 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 Russell Investments Hedged Sustainable Global Shares Fund discloses an annual fund charge of 0.33%, compared with 0.40% for the Dimensional Global Sustainability PIE Fund (NZD Hedged) — a gap of seven basis points that compounds over time on comparable exposure. Both are international equities funds carrying a risk indicator of 5 (on a scale of 1 to 7), both hedge currency back to NZD, and both hold an identical growth assets allocation of 98.31%, making the fee difference the primary structural lever for comparison.
Fund size is broadly similar: Russell Investments sits at approximately NZD 744 million versus Dimensional's NZD 686 million. Neither fund discloses a five-year return figure in this snapshot, so no historical performance comparison is available from this data source.
Portfolio construction differs in subtle but notable ways. Dimensional's top five positions are concentrated in four US mega-cap equities — Apple (5.00%), Nvidia (4.96%), Meta (2.05%), Amazon (1.97%), and Microsoft (1.69%). Russell Investments holds comparable names but at moderately lower individual weights, and its fifth-largest disclosed position is an S&P 500 E-mini futures contract (2.63%), signalling a derivatives overlay that Dimensional's disclosed holdings do not reflect in the top five. Both funds incorporate a sustainability lens, though neither fund's specific exclusion criteria or ESG methodology is captured in this data.
Always verify fees, returns, and holdings 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
- Russell Investments Hedged Sustainable Global Shares Fund charges 0.07% lower in annual fund charges (0.33% vs 0.40%).
- 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 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
Russell Investments
0.33%
Lowest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Russell Investments
—
—
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$686m
Largest 13% in cohort
Russell Investments
NZ$744m
Largest 10% in cohort
| Metric | Dimensional | Russell Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.40% | 0.33% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$686m | NZ$744m | 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 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 | 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
7
of each fund's top 10
Dimensional weight in shared
16.6%
of Dimensional Global Sustainability PIE Fund (NZD Hedged) top 10 is shared
Russell Investments weight in shared
18.9%
of Russell Investments Hedged Sustainable Global Shares Fund top 10 is shared
| Holding | Dimensional | Russell Investments |
|---|---|---|
 Nvidia Corp US | 4.96% | 4.65% |
 Apple Inc US | 5.00% | 4.16% |
 Amazon Com Inc US | 1.97% | 2.20% |
 Microsoft Corp US | 1.69% | 2.86% |
 Broadcom Ord Shs US | 1.13% | 1.52% |
 Alphabet Inc Cap Stk Cl A US | 1.02% | 1.84% |
| Alphabet Inc Cap Cl C US | 0.85% | 1.62% |
"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 →
Russell Investments
Russell Investments Hedged Sustainable Global Shares Fund
The Fund invests predominantly in a broad range of international shares listed on stock exchanges in developed and emerging international markets. The Fund targets a lower carbon exposure, and higher Climate Solutions Revenue, compared to the Benchmark. The Fund also employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. Foreign currency exposures are largely hedged back to New Zealand dollars.Full Russell Investments Russell Investments Hedged Sustainable Global Shares Fund profile →
Common questions
What's the difference between the Dimensional Global Sustainability PIE Fund (NZD Hedged) and the Russell Investments Hedged Sustainable Global Shares Fund?
Which fund has lower fees, Dimensional Global Sustainability PIE Fund (NZD Hedged) or Russell Investments Hedged Sustainable Global Shares Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
