Updated Reviewed quarterly
MZY vs TNZ: ETF Comparison
MZY · Smartshares
TER 0.75% · Yield 1.6%
TNZ · Smartshares
TER 0.60% · Yield 1.9%
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 (Smart Australian 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: Smart Australian 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: 1.6% (Semi-annual)
- TNZ yield: 1.9% (Semi-annual)
- Cheaper TER: TNZ
Head-to-head comparison
| Feature | MZY | TNZ |
|---|---|---|
| Fund | Smart Australian Mid Cap ETF | Smartshares NZ Top 10 ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.75% | 0.60% |
| Dividend yield (TTM) | 1.6% | 1.9% |
| Distribution frequency | Semi-annual | Semi-annual |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
MZY trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). TNZ 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 MZY and TNZ?▾
MZY (Smart Australian 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?▾
MZY trailing 12-month yield is 1.6%; TNZ is 1.9%. 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 is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). TNZ is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
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.
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