Updated Reviewed quarterly
SCHD vs WDV: ETF Comparison
SCHD · Schwab
TER 0.06% · Yield 3.5%
WDV · Smartshares
TER 0.54% · Yield —
WDV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). SCHD 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 (SCHD often cheaper) vs NZ tax simplicity (WDV cleaner).
In 30 seconds: SCHD (Schwab US Dividend Equity ETF, Schwab) trades on the NYSE Arca at 0.06% TER. WDV (Smartshares Global Dividend ETF, Smartshares) trades on the NZX at 0.54% TER. WDV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). SCHD 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 (SCHD often cheaper) vs NZ tax simplicity (WDV cleaner).
- SCHD: Schwab US Dividend Equity ETF — 0.06% TER, FIF above NZ$50K
- WDV: Smartshares Global Dividend ETF — 0.54% TER, PIE (max 28% PIR)
- SCHD yield: 3.5% (Quarterly)
- WDV yield: not currently published
- Cheaper TER: SCHD
Head-to-head comparison
| Feature | SCHD | WDV |
|---|---|---|
| Fund | Schwab US Dividend Equity ETF | Smartshares Global Dividend ETF |
| Issuer | Schwab | Smartshares |
| Exchange | NYSE Arca | NZX |
| Total expense ratio | 0.06% | 0.54% |
| Dividend yield (TTM) | 3.5% | — |
| Distribution frequency | Quarterly | Quarterly |
| NZ tax wrapper | FIF above NZ$50K | PIE (max 28% PIR) |
Where to buy
SCHD trades on the NYSE Arca. WDV trades on the NZX. One is NZX-listed (use Sharesies / InvestNow / Kernel direct / NZX broker), the other is US-listed (use Hatch / Stake / Sharesies / IBKR). See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between SCHD and WDV? ▾
SCHD (Schwab US Dividend Equity ETF) charges 0.06% TER vs WDV (Smartshares Global Dividend ETF) at 0.54%. SCHD is from Schwab; WDV is from Smartshares. WDV is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). SCHD 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 (SCHD often cheaper) vs NZ tax simplicity (WDV cleaner).
Which has the lower fee, SCHD or WDV? ▾
SCHD is cheaper at 0.06% TER vs WDV at 0.54% — a gap of 0.48 percentage points. Over 30 years on a NZ$50,000 portfolio at 7% pre-fee return, that fee gap compounds to roughly NZ48,026 of foregone wealth.
Which yields more, SCHD or WDV? ▾
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 SCHD, PIE (max 28% PIR) for WDV).
Can NZ residents buy both SCHD and WDV? ▾
Yes. SCHD (NYSE Arca) is available via Hatch, Stake, Sharesies, Tiger, Interactive Brokers. WDV (NZX) is available via Sharesies, InvestNow, Kernel direct, BNZ Direct Broking, Jarden, ASB.
How does NZ tax differ between SCHD and WDV? ▾
SCHD is FIF above NZ$50K. WDV 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.
