Updated Reviewed quarterly
USF vs USG: ETF Comparison
USF · Smartshares
TER 0.34% · Yield 0.7%
USG · Smartshares
TER 0.51% · Yield 0.0%
Both USF and USG 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: USF (Smartshares US 500 ETF, Smartshares) trades on the NZX at 0.34% TER. USG (Smartshares US Growth ETF, Smartshares) trades on the NZX at 0.51% TER. Both USF and USG 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.
- USF: Smartshares US 500 ETF — 0.34% TER, PIE (max 28% PIR)
- USG: Smartshares US Growth ETF — 0.51% TER, PIE (max 28% PIR)
- USF yield: 0.7% (Semi-annual)
- USG yield: 0.0% (None)
- Cheaper TER: USF
Head-to-head comparison
| Feature | USF | USG |
|---|---|---|
| Fund | Smartshares US 500 ETF | Smartshares US Growth ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.34% | 0.51% |
| Dividend yield (TTM) | 0.7% | 0.0% |
| Distribution frequency | Semi-annual | None |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
USF trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). 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 USF and USG?▾
USF (Smartshares US 500 ETF) charges 0.34% TER vs USG (Smartshares US Growth ETF) at 0.51%. Both are issued by Smartshares. Both USF and USG 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, USF or USG?▾
USF is cheaper at 0.34% TER vs USG at 0.51% — a gap of 0.17 percentage points. Over 30 years on a NZ$50,000 portfolio at 7% pre-fee return, that fee gap compounds to roughly NZ17,730 of foregone wealth.
Which yields more, USF or USG?▾
USF trailing 12-month yield is 0.7%; USG is 0.0%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for USF, PIE (max 28% PIR) for USG).
Can NZ residents buy both USF and USG?▾
Yes. USF is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). USG is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between USF and USG?▾
USF is PIE (max 28% PIR). USG 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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