Updated Reviewed quarterly
QQQ vs USG: ETF Comparison
QQQ · Invesco
TER 0.18% · Yield —
USG · Smartshares
TER 0.51% · Yield 0.0%
USG is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). QQQ 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 (QQQ often cheaper) vs NZ tax simplicity (USG cleaner).
In 30 seconds: QQQ (Invesco QQQ Trust, Invesco) trades on the NASDAQ at 0.18% TER. USG (Smartshares US Growth ETF, Smartshares) trades on the NZX at 0.51% TER. USG is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). QQQ 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 (QQQ often cheaper) vs NZ tax simplicity (USG cleaner).
- QQQ: Invesco QQQ Trust — 0.18% TER, FIF above NZ$50K
- USG: Smartshares US Growth ETF — 0.51% TER, PIE (max 28% PIR)
- QQQ yield: not currently published
- USG yield: 0.0% (None)
- Cheaper TER: QQQ
Head-to-head comparison
| Feature | QQQ | USG |
|---|---|---|
| Fund | Invesco QQQ Trust | Smartshares US Growth ETF |
| Issuer | Invesco | Smartshares |
| Exchange | NASDAQ | NZX |
| Total expense ratio | 0.18% | 0.51% |
| Dividend yield (TTM) | — | 0.0% |
| Distribution frequency | Quarterly | None |
| NZ tax wrapper | FIF above NZ$50K | PIE (max 28% PIR) |
Where to buy
QQQ trades on the NASDAQ — buy via Hatch, Stake, Sharesies, Tiger and Interactive Brokers. USG 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 QQQ and USG?▾
QQQ (Invesco QQQ Trust) charges 0.18% TER vs USG (Smartshares US Growth ETF) at 0.51%. QQQ is from Invesco; USG is from Smartshares. USG is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). QQQ 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 (QQQ often cheaper) vs NZ tax simplicity (USG cleaner).
Which has the lower fee, QQQ or USG?▾
QQQ is cheaper at 0.18% TER vs USG at 0.51% — a gap of 0.33 percentage points. Over 30 years on a NZ$50,000 portfolio at 7% pre-fee return, that fee gap compounds to roughly NZ33,685 of foregone wealth.
Which yields more, QQQ or USG?▾
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 (FIF above NZ$50K for QQQ, PIE (max 28% PIR) for USG).
Can NZ residents buy both QQQ and USG?▾
Yes. QQQ is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers. USG is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between QQQ and USG?▾
QQQ is FIF above NZ$50K. USG is PIE (max 28% PIR). 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.
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