Updated Reviewed quarterly
DIV vs KGH: ETF Comparison
DIV · Smartshares
TER 0.54% · Yield 5.2%
KGH · Kernel
TER 0.25% · Yield —
Both DIV and KGH 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. KGH (Kernel High Growth Fund, Kernel) is an unlisted PIE fund (not exchange-traded) at 0.25% TER. Both DIV and KGH 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)
- KGH: Kernel High Growth Fund — 0.25% TER, PIE (max 28% PIR)
- DIV yield: 5.2% (Semi-annual)
- KGH yield: not currently published
- Cheaper TER: KGH
Head-to-head comparison
| Feature | DIV | KGH |
|---|---|---|
| Fund | Smartshares NZ Dividend ETF | Kernel High Growth Fund |
| Issuer | Smartshares | Kernel |
| Exchange | NZX | Unlisted |
| Total expense ratio | 0.54% | 0.25% |
| Dividend yield (TTM) | 5.2% | — |
| Distribution frequency | Semi-annual | Quarterly |
| 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). KGH is an unlisted PIE fund (not exchange-traded) — buy via the issuer platform only (unlisted PIE — buy units direct on Kernel). See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between DIV and KGH?▾
DIV (Smartshares NZ Dividend ETF) charges 0.54% TER vs KGH (Kernel High Growth Fund) at 0.25%. DIV is from Smartshares; KGH is from Kernel. Both DIV and KGH 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 KGH?▾
KGH is cheaper at 0.25% TER vs DIV at 0.54% — a gap of 0.29 percentage points.
Which yields more, DIV or KGH?▾
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, PIE (max 28% PIR) for KGH).
Can NZ residents buy both DIV and KGH?▾
Yes. DIV is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). KGH is available via the issuer platform only (unlisted PIE — buy units direct on Kernel).
How does NZ tax differ between DIV and KGH?▾
DIV is PIE (max 28% PIR). KGH 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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