Updated Reviewed quarterly
APA vs EMF: ETF Comparison
APA · Smartshares
TER 0.55% · Yield 1.3%
EMF · Smartshares
TER 0.59% · Yield 1.6%
Both APA and EMF are NZX-listed PIE-wrapped funds. Distributions are taxed in-fund at your Prescribed Investor Rate (max 28%) and Foreign Investment Fund (FIF) rules do not apply to either. The choice is about exposure, fee, and issuer — not tax wrapper.
In 30 seconds: APA (Smart Asia Pacific ETF, Smartshares) trades on the NZX at 0.55% TER. EMF (Smart Emerging Markets ETF, Smartshares) trades on the NZX at 0.59% TER. Both APA and EMF are NZX-listed PIE-wrapped funds. Distributions are taxed in-fund at your Prescribed Investor Rate (max 28%) and Foreign Investment Fund (FIF) rules do not apply to either. The choice is about exposure, fee, and issuer — not tax wrapper.
- APA: Smart Asia Pacific ETF — 0.55% TER, PIE (max 28% PIR)
- EMF: Smart Emerging Markets ETF — 0.59% TER, PIE (max 28% PIR)
- APA yield: 1.3% (Semi-annual)
- EMF yield: 1.6% (Semi-annual)
- Cheaper TER: APA
Head-to-head comparison
| Feature | APA | EMF |
|---|---|---|
| Fund | Smart Asia Pacific ETF | Smart Emerging Markets ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.55% | 0.59% |
| Dividend yield (TTM) | 1.3% | 1.6% |
| Distribution frequency | Semi-annual | Semi-annual |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
APA trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). EMF trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between APA and EMF?▾
APA (Smart Asia Pacific ETF) charges 0.55% TER vs EMF (Smart Emerging Markets ETF) at 0.59%. Both are issued by Smartshares. Both APA and EMF are NZX-listed PIE-wrapped funds. Distributions are taxed in-fund at your Prescribed Investor Rate (max 28%) and Foreign Investment Fund (FIF) rules do not apply to either. The choice is about exposure, fee, and issuer — not tax wrapper.
Which has the lower fee, APA or EMF?▾
APA is cheaper at 0.55% TER vs EMF at 0.59% — a gap of 0.04 percentage points. Over 30 years on a NZ$50,000 portfolio at 7% pre-fee return, that fee gap compounds to roughly NZ4,245 of foregone wealth.
Which yields more, APA or EMF?▾
APA trailing 12-month yield is 1.3%; EMF is 1.6%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for APA, PIE (max 28% PIR) for EMF).
Can NZ residents buy both APA and EMF?▾
Yes. APA is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). EMF is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between APA and EMF?▾
APA is PIE (max 28% PIR). EMF is PIE (max 28% PIR). Same tax wrapper, no structural tax difference between the two for NZ residents. See /tax/pie-vs-fif/ for the full mechanics.
Explore with AI
Ask an AI assistant about this page
Open a fresh session with your prompt pre-filled and this page's link attached — the assistant reads the page and answers with it as a source.
Prefer Google?Add etfs.co.nz as a preferred source →
