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ETF comparisons
Updated Reviewed quarterly
76 side-by-side comparisons, grouped by the decision you are actually making — two wrappers over the same index, a NZ PIE against its US-listed equivalent, or two funds in one category at different fees.
Each page covers total expense ratio, trailing yield, distribution frequency and the NZ tax wrapper, and links the issuer document behind every figure. These are comparisons of characteristics, not recommendations.
NZ-PIE funds, within an issuer
Same wrapper, same tax treatment — the choice is exposure and fee.
| Comparison | TER | NZ tax |
|---|---|---|
| KGH vs NZ20Kernel High Growth · Kernel NZ 20 | 0.25% · 0.25% | Both PIE |
| KGM vs NZ20Kernel Global 100 · Kernel NZ 20 | 0.25% · 0.25% | Both PIE |
| KGH vs KGMKernel High Growth · Kernel Global 100 | 0.25% · 0.25% | Both PIE |
| FNZ vs NZ20NZ Top 50 (FNZ) · Kernel NZ 20 | 0.50% · 0.25% | Both PIE |
| FNZ vs KGHNZ Top 50 (FNZ) · Kernel High Growth | 0.50% · 0.25% | Both PIE |
| FNZ vs TNZNZ Top 50 (FNZ) · NZ Top 10 (TNZ) | 0.50% · 0.60% | Both PIE |
| FNZ vs MZYNZ Top 50 (FNZ) · AU Mid Cap (MZY) | 0.50% · 0.75% | Both PIE |
| MZY vs TNZAU Mid Cap (MZY) · NZ Top 10 (TNZ) | 0.75% · 0.60% | Both PIE |
| DIV vs FNZNZ Dividend (DIV) · NZ Top 50 (FNZ) | 0.54% · 0.50% | Both PIE |
| USF vs USGUS 500 (USF) · US Growth (USG) | 0.34% · 0.51% | Both PIE |
| USF vs USSUS 500 (USF) · US Small Cap (USS) | 0.34% · 0.51% | Both PIE |
| USG vs USSUS Growth (USG) · US Small Cap (USS) | 0.51% · 0.51% | Both PIE |
| ESG vs USFGlobal ESG (ESG) · US 500 (USF) | 0.54% · 0.34% | Both PIE |
| FNZ vs NPFNZ Top 50 (FNZ) · NZ Property (NPF) | 0.50% · 0.54% | Both PIE |
| NGB vs NZBNZ Govt Bonds (NGB) · NZ Bonds (NZB) | 0.20% · 0.54% | Both PIE |
| ASD vs AUSAus Dividend (ASD) · Aus Top 200 (AUS) | 0.54% · 0.30% | Both PIE |
| APA vs EMFAsia Pacific (APA) · Emerging Markets (EMF) | 0.55% · 0.59% | Both PIE |
| EMF vs EUFEmerging Markets (EMF) · Europe (EUF) | 0.59% · 0.55% | Both PIE |
Kernel vs Smartshares
NZ's two index-fund issuers, compared fund by fund.
| Comparison | TER | NZ tax |
|---|---|---|
| ESG vs KGMGlobal ESG (ESG) · Kernel Global 100 | 0.54% · 0.25% | Both PIE |
| NZ20 vs TNZKernel NZ 20 · NZ Top 10 (TNZ) | 0.25% · 0.60% | Both PIE |
| DIV vs KGHNZ Dividend (DIV) · Kernel High Growth | 0.54% · 0.25% | Both PIE |
NZ-PIE vs the US-listed equivalent
The PIE-versus-FIF decision: a NZ wrapper against the US fund tracking the same thing.
| Comparison | TER | NZ tax |
|---|---|---|
| USF vs VOOUS 500 (USF) · VOO | 0.34% · 0.03% | PIE vs FIF |
| SPY vs USFSPY · US 500 (USF) | 0.09% · 0.34% | PIE vs FIF |
| SPYM vs USFSPYM · US 500 (USF) | 0.02% · 0.34% | PIE vs FIF |
| KGM vs USFKernel Global 100 · US 500 (USF) | 0.25% · 0.34% | Both PIE |
| KGM vs VXUSKernel Global 100 · VXUS | 0.25% · 0.05% | PIE vs FIF |
| SCHG vs USGSCHG · US Growth (USG) | 0.04% · 0.51% | PIE vs FIF |
| QQQ vs USGQQQ · US Growth (USG) | 0.18% · 0.51% | PIE vs FIF |
| AVUV vs USSAVUV · US Small Cap (USS) | 0.25% · 0.51% | PIE vs FIF |
| IWM vs USSIWM · US Small Cap (USS) | 0.19% · 0.51% | PIE vs FIF |
| DIV vs SCHDNZ Dividend (DIV) · SCHD | 0.54% · 0.06% | PIE vs FIF |
| DIV vs VYMNZ Dividend (DIV) · VYM | 0.54% · 0.04% | PIE vs FIF |
| ESG vs SCHDGlobal ESG (ESG) · SCHD | 0.54% · 0.06% | PIE vs FIF |
| NPF vs SRETNZ Property (NPF) · SRET | 0.54% · 0.58% | PIE vs FIF |
| KGM vs VOOKernel Global 100 · VOO | 0.25% · 0.03% | PIE vs FIF |
| KGM vs VTIKernel Global 100 · VTI | 0.25% · 0.03% | PIE vs FIF |
| NZ20 vs USFKernel NZ 20 · US 500 (USF) | 0.25% · 0.34% | Both PIE |
| KGH vs VOOKernel High Growth · VOO | 0.25% · 0.03% | PIE vs FIF |
| KGH vs VTIKernel High Growth · VTI | 0.25% · 0.03% | PIE vs FIF |
US broad market and growth
Overlapping US equity trackers — where the holdings actually differ.
| Comparison | TER | NZ tax |
|---|---|---|
| SPY vs VOOSPY · VOO | 0.09% · 0.03% | Both FIF |
| VOO vs VTIVOO · VTI | 0.03% · 0.03% | Both FIF |
| SPYM vs VOOSPYM · VOO | 0.02% · 0.03% | Both FIF |
| SPY vs SPYMSPY · SPYM | 0.09% · 0.02% | Both FIF |
| VOO vs VOOGVOO · VOOG | 0.03% · 0.07% | Both FIF |
| QQQ vs QQQMQQQ · QQQM | 0.18% · 0.15% | Both FIF |
| QQQ vs SPYMQQQ · SPYM | 0.18% · 0.02% | Both FIF |
| QQQ vs VTIQQQ · VTI | 0.18% · 0.03% | Both FIF |
| SPYM vs VTISPYM · VTI | 0.02% · 0.03% | Both FIF |
| VTI vs VXUSVTI · VXUS | 0.03% · 0.05% | Both FIF |
| VOOG vs VTIVOOG · VTI | 0.07% · 0.03% | Both FIF |
| QQQ vs VGTQQQ · VGT | 0.18% · 0.09% | Both FIF |
| QQQM vs VGTQQQM · VGT | 0.15% · 0.09% | Both FIF |
| SCHG vs VGTSCHG · VGT | 0.04% · 0.09% | Both FIF |
| SMH vs VGTSMH · VGT | 0.35% · 0.09% | Both FIF |
| SCHG vs VOOGSCHG · VOOG | 0.04% · 0.07% | Both FIF |
Semiconductors
Concentrated chip exposure versus broader tech.
| Comparison | TER | NZ tax |
|---|---|---|
| SMH vs SOXXSMH · SOXX | 0.35% · 0.33% | Both FIF |
| SOXX vs VGTSOXX · VGT | 0.33% · 0.09% | Both FIF |
| QQQ vs SOXXQQQ · SOXX | 0.18% · 0.33% | Both FIF |
Gold, silver and miners
Physical bullion against the miners, and the fee gap between wrappers.
| Comparison | TER | NZ tax |
|---|---|---|
| GLD vs IAUGLD · IAU | 0.40% · 0.25% | Both FIF |
| GDX vs GDXJGDX · GDXJ | 0.51% · 0.52% | Both FIF |
| GDX vs GLDGDX · GLD | 0.51% · 0.40% | Both FIF |
| IAU vs SIVRIAU · SIVR | 0.25% · 0.30% | Both FIF |
| GLD vs SIVRGLD · SIVR | 0.40% · 0.30% | Both FIF |
Bonds and cash
Duration, credit quality and what each is actually for.
| Comparison | TER | NZ tax |
|---|---|---|
| BND vs SCHZBND · SCHZ | 0.03% · 0.03% | Both FIF |
| BND vs SGOVBND · SGOV | 0.03% · 0.09% | Both FIF |
| BKLN vs HYGBKLN · HYG | 0.65% · 0.49% | Both FIF |
| HYG vs SCHZHYG · SCHZ | 0.49% · 0.03% | Both FIF |
Income and covered call
Distribution yield against total return, and where the income comes from.
| Comparison | TER | NZ tax |
|---|---|---|
| JEPI vs SCHDJEPI · SCHD | 0.35% · 0.06% | Both FIF |
| JEPI vs JEPQJEPI · JEPQ | 0.35% · 0.35% | Both FIF |
| SCHD vs VYMSCHD · VYM | 0.06% · 0.04% | Both FIF |
| JEPI vs VYMJEPI · VYM | 0.35% · 0.04% | Both FIF |
| DIV vs JEPINZ Dividend (DIV) · JEPI | 0.54% · 0.35% | PIE vs FIF |
| JEPQ vs QQQJEPQ · QQQ | 0.35% · 0.18% | Both FIF |
International and emerging markets
Ex-US exposure, and how much emerging-market weight comes with it.
| Comparison | TER | NZ tax |
|---|---|---|
| SCHE vs VXUSSCHE · VXUS | 0.06% · 0.05% | Both FIF |
| EMF vs VXUSEmerging Markets (EMF) · VXUS | 0.59% · 0.05% | PIE vs FIF |
| EMF vs SCHEEmerging Markets (EMF) · SCHE | 0.59% · 0.06% | PIE vs FIF |
Platform against platform
Where you hold the fund, rather than which fund you hold.
- Sharesies vs Hatch
The two most-used NZ platforms for US shares, with a worked cost comparison.
- Hatch vs Stake
Brokerage and FX margin compared at realistic order sizes.
- Interactive Brokers vs Tiger Brokers
Multi-market access and the lowest FX margins reachable from NZ.
- Kernel vs InvestNow
Two zero-brokerage routes into NZ index funds, with different fund shelves.
- Kernel vs Smartshares
NZ's two index-fund issuers, on fees, fund range and structure.
Build your own
More than two funds, or a pair not listed above.
- Multi-fund comparison tool
Pick any funds from the universe and put them side by side.
- ETF screener
Filter on fee, yield, asset class, issuer, tax wrapper and exchange.
Questions
How are these pairs chosen?
Each pair is one a NZ investor plausibly has to decide between — two wrappers over the same index, a NZ PIE against its US-listed equivalent, or two funds in the same category at different fees. They are not ranked, and neither side is presented as the better choice.
What does each comparison actually cover?
Total expense ratio, trailing distribution yield, distribution frequency, what each fund tracks, and the NZ tax wrapper (PIE versus FIF) — plus where each can be bought from New Zealand. Every figure traces to the issuer document linked on the page.
Why does the tax wrapper matter more than the fee?
Because it can outweigh it. A PIE caps tax at your Prescribed Investor Rate and needs no FIF return; a US-domiciled fund brings FIF rules once your total overseas-share cost basis crosses the de minimis threshold, plus US withholding. A lower headline TER can still lose to a higher-TER PIE after tax.
Prefer to filter the whole universe yourself? Use theETF screener. How every figure is sourced: methodology.
