Updated Reviewed quarterly
DIV vs FNZ: ETF Comparison
DIV · Smartshares
TER 0.54% · Yield 5.2%
FNZ · Smartshares
TER 0.50% · Yield 3.2%
Both DIV and FNZ 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: DIV (Smartshares NZ Dividend ETF, Smartshares) trades on the NZX at 0.54% TER. FNZ (Smartshares NZ Top 50 ETF, Smartshares) trades on the NZX at 0.50% TER. Both DIV and FNZ 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.
- DIV: Smartshares NZ Dividend ETF — 0.54% TER, PIE (max 28% PIR)
- FNZ: Smartshares NZ Top 50 ETF — 0.50% TER, PIE (max 28% PIR)
- DIV yield: 5.2% (Semi-annual)
- FNZ yield: 3.2% (Semi-annual)
- Cheaper TER: FNZ
Head-to-head comparison
| Feature | DIV | FNZ |
|---|---|---|
| Fund | Smartshares NZ Dividend ETF | Smartshares NZ Top 50 ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.54% | 0.50% |
| Dividend yield (TTM) | 5.2% | 3.2% |
| Distribution frequency | Semi-annual | Semi-annual |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
DIV trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). FNZ 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 DIV and FNZ?▾
DIV (Smartshares NZ Dividend ETF) charges 0.54% TER vs FNZ (Smartshares NZ Top 50 ETF) at 0.50%. Both are issued by Smartshares. Both DIV and FNZ 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, DIV or FNZ?▾
FNZ is cheaper at 0.50% TER vs DIV at 0.54% — a gap of 0.04 percentage points.
Which yields more, DIV or FNZ?▾
DIV trailing 12-month yield is 5.2%; FNZ is 3.2%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for DIV, PIE (max 28% PIR) for FNZ).
Can NZ residents buy both DIV and FNZ?▾
Yes. DIV is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). FNZ is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between DIV and FNZ?▾
DIV is PIE (max 28% PIR). FNZ 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.
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