Updated Reviewed quarterly
USF vs VOO: ETF Comparison
USF · Smartshares
TER 0.34% · Yield 0.7%
VOO · Vanguard
TER 0.03% · Yield 1.0%
USF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VOO 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 (VOO often cheaper) vs NZ tax simplicity (USF cleaner).
In 30 seconds: USF (Smartshares US 500 ETF, Smartshares) trades on the NZX at 0.34% TER. VOO (Vanguard S&P 500 ETF, Vanguard) trades on the NYSE Arca at 0.03% TER. USF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VOO 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 (VOO often cheaper) vs NZ tax simplicity (USF cleaner).
- USF: Smartshares US 500 ETF — 0.34% TER, PIE (max 28% PIR)
- VOO: Vanguard S&P 500 ETF — 0.03% TER, FIF above NZ$50K
- USF yield: 0.7% (Semi-annual)
- VOO yield: 1.0% (Quarterly)
- Cheaper TER: VOO
Head-to-head comparison
| Feature | USF | VOO |
|---|---|---|
| Fund | Smartshares US 500 ETF | Vanguard S&P 500 ETF |
| Issuer | Smartshares | Vanguard |
| Exchange | NZX | NYSE Arca |
| Total expense ratio | 0.34% | 0.03% |
| Dividend yield (TTM) | 0.7% | 1.0% |
| Distribution frequency | Semi-annual | Quarterly |
| NZ tax wrapper | PIE (max 28% PIR) | FIF above NZ$50K |
Where to buy
USF trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). VOO trades on the NYSE Arca — buy via Hatch, Stake, Sharesies, Tiger and Interactive Brokers. See all 11 NZ investment platforms compared.
Frequently asked questions
What is the difference between USF and VOO?▾
USF (Smartshares US 500 ETF) charges 0.34% TER vs VOO (Vanguard S&P 500 ETF) at 0.03%. USF is from Smartshares; VOO is from Vanguard. USF is a NZX-listed PIE fund (capped at 28% PIR, FIF-exempt). VOO 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 (VOO often cheaper) vs NZ tax simplicity (USF cleaner).
Which has the lower fee, USF or VOO?▾
VOO is cheaper at 0.03% TER vs USF at 0.34% — a gap of 0.31 percentage points.
Which yields more, USF or VOO?▾
USF trailing 12-month yield is 0.7%; VOO is 1.0%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for USF, FIF above NZ$50K for VOO).
Can NZ residents buy both USF and VOO?▾
Yes. USF is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). VOO is available via Hatch, Stake, Sharesies, Tiger and Interactive Brokers.
How does NZ tax differ between USF and VOO?▾
USF is PIE (max 28% PIR). VOO is FIF above NZ$50K. 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.
Explore with AI
Ask an AI assistant about this page
Open a fresh session with your prompt pre-filled and this page's link attached — the assistant reads the page and answers with it as a source.
Prefer Google?Add etfs.co.nz as a preferred source →
