Updated Reviewed quarterly
DIV vs JEPI: ETF Comparison
DIV · Smartshares
TER 0.54% · Yield 5.2%
JEPI · JPMorgan
TER 0.35% · Yield —
DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). JEPI is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (JEPI often cheaper) vs NZ tax simplicity (DIV cleaner).
In 30 seconds: DIV (Smartshares NZ Dividend ETF, Smartshares) trades on the NZX at 0.54% TER. JEPI (JPMorgan Equity Premium Income ETF, JPMorgan) trades on the NYSE Arca at 0.35% TER. DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). JEPI is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (JEPI often cheaper) vs NZ tax simplicity (DIV cleaner).
- DIV: Smartshares NZ Dividend ETF — 0.54% TER, PIE (max 28% PIR)
- JEPI: JPMorgan Equity Premium Income ETF — 0.35% TER, FIF above NZ$50K
- DIV yield: 5.2% (Semi-annual)
- JEPI yield: not currently published
- Cheaper TER: JEPI
Head-to-head comparison
| Feature | DIV | JEPI |
|---|---|---|
| Fund | Smartshares NZ Dividend ETF | JPMorgan Equity Premium Income ETF |
| Issuer | Smartshares | JPMorgan |
| Exchange | NZX | NYSE Arca |
| Total expense ratio | 0.54% | 0.35% |
| Dividend yield (TTM) | 5.2% | — |
| Distribution frequency | Semi-annual | Monthly |
| NZ tax wrapper | PIE (max 28% PIR) | FIF above NZ$50K |
Where to buy
DIV trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). JEPI trades on the NYSE Arca — buy via Hatch, Stake, Sharesies, Tiger and Interactive Brokers. See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between DIV and JEPI?▾
DIV (Smartshares NZ Dividend ETF) charges 0.54% TER vs JEPI (JPMorgan Equity Premium Income ETF) at 0.35%. DIV is from Smartshares; JEPI is from JPMorgan. DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). JEPI is US-listed and triggers FIF tax once your overseas-share holdings exceed NZ$50,000 cost-basis, plus 15% US withholding tax on dividends. The trade-off is headline TER (JEPI often cheaper) vs NZ tax simplicity (DIV cleaner).
Which has the lower fee, DIV or JEPI?▾
JEPI is cheaper at 0.35% TER vs DIV at 0.54% — a gap of 0.19 percentage points.
Which yields more, DIV or JEPI?▾
Yield data for at least one fund is not currently published — check the issuer fact sheet for the latest trailing 12-month yield. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for DIV, FIF above NZ$50K for JEPI).
Can NZ residents buy both DIV and JEPI?▾
Yes. DIV is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). JEPI is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers.
How does NZ tax differ between DIV and JEPI?▾
DIV is PIE (max 28% PIR). JEPI is FIF above NZ$50K. The PIE-wrapped fund is simpler — no FIF return, no US withholding, capped at 28% PIR. See /tax/pie-vs-fif/ for the full mechanics.
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