Fund-vs-fund · International Equities
Dimensional Global Sustainability PIE Fund (NZD Hedged) vs Schroder Sustainable Global Core PIE Fund (Hedged)
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 manager philosophy and portfolio construction approach. Dimensional Global Sustainability PIE Fund (NZD Hedged) is managed by Dimensional, whose systematic, factor-based investment methodology typically targets broad diversification across thousands of securities weighted toward profitability, value, and size factors within a sustainability screen. Schroders' Sustainable Global Core PIE Fund (Hedged) applies Schroders' own active sustainable core process, which is distinct in that its top-five holdings include "Cash at Bank (BNZ)" at 4.64% — suggesting a meaningful near-term cash position not apparent in Dimensional's disclosed top holdings. That difference in portfolio construction is worth scrutiny for investors focused on equity exposure efficiency, even though both funds sit at an identical 98.31% growth assets allocation overall.
On fees, the gap is negligible: Dimensional charges 0.40% per annum versus Schroders at 0.39%. Both carry a risk indicator of 5 out of 7. Fund size is comparable — Dimensional at approximately NZD 686 million, Schroders at approximately NZD 732 million. Both funds are NZD-hedged, both sit in the International Equities category, and top equity holdings overlap heavily (Apple, Nvidia, Microsoft, Amazon). Neither fund discloses a five-year return figure in this snapshot, so historical performance comparison is not possible from this data alone. Both funds are PIE funds, not KiwiSaver scheme accounts.
Verify all figures against each fund's current PDS 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
- Annual fund charges are within 0.05% of each other (0.40% vs 0.39%).
- 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 82 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
Schroders
0.39%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Dimensional
—
—
Schroders
—
—
Fund size
Larger = more stable, lower close-risk
Dimensional
NZ$686m
Largest 13% in cohort
Schroders
NZ$732m
Largest 11% in cohort
| Metric | Dimensional | Schroders | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.40% | 0.39% | 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$732m | 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 | InvestNow | InvestNow · 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
5
of each fund's top 10
Dimensional weight in shared
15.7%
of Dimensional Global Sustainability PIE Fund (NZD Hedged) top 10 is shared
Schroders weight in shared
17.5%
of Schroder Sustainable Global Core PIE Fund (Hedged) top 10 is shared
| Holding | Dimensional | Schroders |
|---|---|---|
 Nvidia Corp US | 4.96% | 5.41% |
 Apple Inc US | 5.00% | 4.72% |
 Amazon Com Inc US | 1.97% | 2.54% |
 Microsoft Corp US | 1.69% | 3.29% |
 Meta Platforms Inc US | 2.05% | 1.58% |
"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 →
Schroders
Schroder Sustainable Global Core PIE Fund (Hedged)
The fund aims to provide exposure to global listed equities and is an actively managed strategy designed to target outperformance relative to the benchmark index with limited risk relative to the index. This strategy provides the benefits of index-based investing from a risk and cost perspective with the advantage of relative performance upside potential.Full Schroders Schroder Sustainable Global Core PIE Fund (Hedged) profile →
Common questions
What's the difference between the Dimensional Global Sustainability PIE Fund (NZD Hedged) and the Schroder Sustainable Global Core PIE Fund (Hedged)?
Which fund has lower fees, Dimensional Global Sustainability PIE Fund (NZD Hedged) or Schroder Sustainable Global Core PIE Fund (Hedged)?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
