Updated Reviewed quarterly
ESG vs KGM: ETF Comparison
ESG · Smartshares
TER 0.54% · Yield 0.0%
KGM · Kernel
TER 0.25% · Yield —
Both ESG and KGM 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: ESG (Smartshares Global Sustainability Leaders ETF, Smartshares) trades on the NZX at 0.54% TER. KGM (Kernel Global 100 Fund, Kernel) is an unlisted PIE fund (not exchange-traded) at 0.25% TER. Both ESG and KGM 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.
- ESG: Smartshares Global Sustainability Leaders ETF — 0.54% TER, PIE (max 28% PIR)
- KGM: Kernel Global 100 Fund — 0.25% TER, PIE (max 28% PIR)
- ESG yield: 0.0% (None)
- KGM yield: not currently published
- Cheaper TER: KGM
Head-to-head comparison
| Feature | ESG | KGM |
|---|---|---|
| Fund | Smartshares Global Sustainability Leaders ETF | Kernel Global 100 Fund |
| Issuer | Smartshares | Kernel |
| Exchange | NZX | Unlisted |
| Total expense ratio | 0.54% | 0.25% |
| Dividend yield (TTM) | 0.0% | — |
| Distribution frequency | None | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
ESG trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). KGM 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 ESG and KGM?▾
ESG (Smartshares Global Sustainability Leaders ETF) charges 0.54% TER vs KGM (Kernel Global 100 Fund) at 0.25%. ESG is from Smartshares; KGM is from Kernel. Both ESG and KGM 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, ESG or KGM?▾
KGM is cheaper at 0.25% TER vs ESG at 0.54% — a gap of 0.29 percentage points.
Which yields more, ESG or KGM?▾
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 ESG, PIE (max 28% PIR) for KGM).
Can NZ residents buy both ESG and KGM?▾
Yes. ESG is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). KGM is available via the issuer platform only (unlisted PIE — buy units direct on Kernel).
How does NZ tax differ between ESG and KGM?▾
ESG is PIE (max 28% PIR). KGM 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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