Updated Reviewed quarterly
MZY vs TNZ: ETF Comparison
MZY · Smartshares
TER 0.75% · Yield —
TNZ · Smartshares
TER 0.60% · Yield —
Both MZY and TNZ 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: MZY (Smartshares NZ Mid Cap ETF, Smartshares) trades on the NZX at 0.75% TER. TNZ (Smartshares NZ Top 10 ETF, Smartshares) trades on the NZX at 0.60% TER. Both MZY and TNZ 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.
- MZY: Smartshares NZ Mid Cap ETF — 0.75% TER, PIE (max 28% PIR)
- TNZ: Smartshares NZ Top 10 ETF — 0.60% TER, PIE (max 28% PIR)
- MZY yield: not currently published
- TNZ yield: not currently published
- Cheaper TER: TNZ
Head-to-head comparison
| Feature | MZY | TNZ |
|---|---|---|
| Fund | Smartshares NZ Mid Cap ETF | Smartshares NZ Top 10 ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.75% | 0.60% |
| Dividend yield (TTM) | — | — |
| Distribution frequency | Quarterly | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
MZY trades on the NZX. TNZ 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 MZY and TNZ? ▾
MZY (Smartshares NZ Mid Cap ETF) charges 0.75% TER vs TNZ (Smartshares NZ Top 10 ETF) at 0.60%. Both are issued by Smartshares. Both MZY and TNZ 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, MZY or TNZ? ▾
TNZ is cheaper at 0.60% TER vs MZY at 0.75% — a gap of 0.15 percentage points.
Which yields more, MZY or TNZ? ▾
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 MZY, PIE (max 28% PIR) for TNZ).
Can NZ residents buy both MZY and TNZ? ▾
Yes. MZY (NZX) is available via Sharesies, InvestNow (Smartshares zero fee), Kernel direct, BNZ Direct Broking, Jarden Direct, ASB Securities. TNZ (NZX) is available via Sharesies, InvestNow, Kernel direct, BNZ Direct Broking, Jarden, ASB.
How does NZ tax differ between MZY and TNZ? ▾
MZY is PIE (max 28% PIR). TNZ 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.
