Updated Reviewed quarterly
ESG vs USF: ETF Comparison
ESG · Smartshares
TER 0.54% · Yield 0.0%
USF · Smartshares
TER 0.34% · Yield 0.7%
Both ESG and USF 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. USF (Smartshares US 500 ETF, Smartshares) trades on the NZX at 0.34% TER. Both ESG and USF 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)
- USF: Smartshares US 500 ETF — 0.34% TER, PIE (max 28% PIR)
- ESG yield: 0.0% (None)
- USF yield: 0.7% (Semi-annual)
- Cheaper TER: USF
Head-to-head comparison
| Feature | ESG | USF |
|---|---|---|
| Fund | Smartshares Global Sustainability Leaders ETF | Smartshares US 500 ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.54% | 0.34% |
| Dividend yield (TTM) | 0.0% | 0.7% |
| Distribution frequency | None | Semi-annual |
| 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). USF 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 ESG and USF?▾
ESG (Smartshares Global Sustainability Leaders ETF) charges 0.54% TER vs USF (Smartshares US 500 ETF) at 0.34%. Both are issued by Smartshares. Both ESG and USF 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 USF?▾
USF is cheaper at 0.34% TER vs ESG at 0.54% — a gap of 0.20 percentage points.
Which yields more, ESG or USF?▾
ESG trailing 12-month yield is 0.0%; USF is 0.7%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for ESG, PIE (max 28% PIR) for USF).
Can NZ residents buy both ESG and USF?▾
Yes. ESG is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). USF is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between ESG and USF?▾
ESG is PIE (max 28% PIR). USF 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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