Updated Reviewed quarterly
DIV vs VYM: ETF Comparison
DIV · Smartshares
TER 0.54% · Yield 5.2%
VYM · Vanguard
TER 0.04% · Yield 2.2%
DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VYM 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 (VYM 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. VYM (Vanguard High Dividend Yield ETF, Vanguard) trades on the NYSE Arca at 0.04% TER. DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VYM 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 (VYM often cheaper) vs NZ tax simplicity (DIV cleaner).
- DIV: Smartshares NZ Dividend ETF — 0.54% TER, PIE (max 28% PIR)
- VYM: Vanguard High Dividend Yield ETF — 0.04% TER, FIF above NZ$50K
- DIV yield: 5.2% (Semi-annual)
- VYM yield: 2.2% (Quarterly)
- Cheaper TER: VYM
Head-to-head comparison
| Feature | DIV | VYM |
|---|---|---|
| Fund | Smartshares NZ Dividend ETF | Vanguard High Dividend Yield ETF |
| Issuer | Smartshares | Vanguard |
| Exchange | NZX | NYSE Arca |
| Total expense ratio | 0.54% | 0.04% |
| Dividend yield (TTM) | 5.2% | 2.2% |
| Distribution frequency | Semi-annual | Quarterly |
| 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). VYM 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 VYM?▾
DIV (Smartshares NZ Dividend ETF) charges 0.54% TER vs VYM (Vanguard High Dividend Yield ETF) at 0.04%. DIV is from Smartshares; VYM is from Vanguard. DIV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VYM 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 (VYM often cheaper) vs NZ tax simplicity (DIV cleaner).
Which has the lower fee, DIV or VYM?▾
VYM is cheaper at 0.04% TER vs DIV at 0.54% — a gap of 0.50 percentage points.
Which yields more, DIV or VYM?▾
DIV trailing 12-month yield is 5.2%; VYM is 2.2%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for DIV, FIF above NZ$50K for VYM).
Can NZ residents buy both DIV and VYM?▾
Yes. DIV is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). VYM is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers.
How does NZ tax differ between DIV and VYM?▾
DIV is PIE (max 28% PIR). VYM 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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