Updated Reviewed quarterly
KGM vs VTI: ETF Comparison
KGM · Kernel
TER 0.25% · Yield —
VTI · Vanguard
TER 0.03% · Yield 1.0%
KGM is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VTI 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 (VTI often cheaper) vs NZ tax simplicity (KGM cleaner).
In 30 seconds: KGM (Kernel Global 100 Fund, Kernel) is an unlisted PIE fund (not exchange-traded) at 0.25% TER. VTI (Vanguard Total Stock Market ETF, Vanguard) trades on the NYSE Arca at 0.03% TER. KGM is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VTI 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 (VTI often cheaper) vs NZ tax simplicity (KGM cleaner).
- KGM: Kernel Global 100 Fund — 0.25% TER, PIE (max 28% PIR)
- VTI: Vanguard Total Stock Market ETF — 0.03% TER, FIF above NZ$50K
- KGM yield: not currently published
- VTI yield: 1.0% (Quarterly)
- Cheaper TER: VTI
Head-to-head comparison
| Feature | KGM | VTI |
|---|---|---|
| Fund | Kernel Global 100 Fund | Vanguard Total Stock Market ETF |
| Issuer | Kernel | Vanguard |
| Exchange | Unlisted | NYSE Arca |
| Total expense ratio | 0.25% | 0.03% |
| Dividend yield (TTM) | — | 1.0% |
| Distribution frequency | Quarterly | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | FIF above NZ$50K |
Where to buy
KGM is an unlisted PIE fund (not exchange-traded) — buy via the issuer platform only (unlisted PIE — buy units direct on Kernel). VTI 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 KGM and VTI?▾
KGM (Kernel Global 100 Fund) charges 0.25% TER vs VTI (Vanguard Total Stock Market ETF) at 0.03%. KGM is from Kernel; VTI is from Vanguard. KGM is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VTI 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 (VTI often cheaper) vs NZ tax simplicity (KGM cleaner).
Which has the lower fee, KGM or VTI?▾
VTI is cheaper at 0.03% TER vs KGM at 0.25% — a gap of 0.22 percentage points.
Which yields more, KGM or VTI?▾
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 KGM, FIF above NZ$50K for VTI).
Can NZ residents buy both KGM and VTI?▾
Yes. KGM is available via the issuer platform only (unlisted PIE — buy units direct on Kernel). VTI is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers.
How does NZ tax differ between KGM and VTI?▾
KGM is PIE (max 28% PIR). VTI 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.
Explore with AI
Ask an AI assistant about this page
Open a fresh session with your prompt pre-filled and this page's link attached — the assistant reads the page and answers with it as a source.
Prefer Google?Add etfs.co.nz as a preferred source →
