Updated Reviewed quarterly
KSC vs NZ20: ETF Comparison
KSC · Kernel
TER 0.25% · Yield —
NZ20 · Kernel
TER 0.29% · Yield 3.2%
Both KSC and NZ20 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: KSC (Kernel S&P/NZX 20 Fund, Kernel) trades on the NZX at 0.25% TER. NZ20 (Kernel NZ 20 Fund, Kernel) trades on the NZX at 0.29% TER. Both KSC and NZ20 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.
- KSC: Kernel S&P/NZX 20 Fund — 0.25% TER, PIE (max 28% PIR)
- NZ20: Kernel NZ 20 Fund — 0.29% TER, PIE (max 28% PIR)
- KSC yield: not currently published
- NZ20 yield: 3.2% (Quarterly)
- Cheaper TER: KSC
Head-to-head comparison
| Feature | KSC | NZ20 |
|---|---|---|
| Fund | Kernel S&P/NZX 20 Fund | Kernel NZ 20 Fund |
| Issuer | Kernel | Kernel |
| Exchange | NZX | NZX |
| Total expense ratio | 0.25% | 0.29% |
| Dividend yield (TTM) | — | 3.2% |
| Distribution frequency | Quarterly | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
KSC trades on the NZX. NZ20 trades on the NZX. Both are available on every NZX broker (Sharesies, InvestNow, Kernel direct, BNZ, Jarden, ASB). See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between KSC and NZ20? ▾
KSC (Kernel S&P/NZX 20 Fund) charges 0.25% TER vs NZ20 (Kernel NZ 20 Fund) at 0.29%. Both are issued by Kernel. Both KSC and NZ20 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, KSC or NZ20? ▾
KSC is cheaper at 0.25% TER vs NZ20 at 0.29% — a gap of 0.04 percentage points. Over 30 years on a NZ$50,000 portfolio at 7% pre-fee return, that fee gap compounds to roughly NZ4,245 of foregone wealth.
Which yields more, KSC or NZ20? ▾
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 KSC, PIE (max 28% PIR) for NZ20).
Can NZ residents buy both KSC and NZ20? ▾
Yes. KSC (NZX) is available via Sharesies, InvestNow (Smartshares zero fee), Kernel direct, BNZ Direct Broking, Jarden Direct, ASB Securities. NZ20 (NZX) is available via Sharesies, InvestNow, Kernel direct, BNZ Direct Broking, Jarden, ASB.
How does NZ tax differ between KSC and NZ20? ▾
KSC is PIE (max 28% PIR). NZ20 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.
