Updated Reviewed quarterly
USG vs USS: ETF Comparison
USG · Smartshares
TER 0.51% · Yield 0.0%
USS · Smartshares
TER 0.51% · Yield 0.8%
Both USG and USS 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: USG (Smartshares US Growth ETF, Smartshares) trades on the NZX at 0.51% TER. USS (Smartshares US Small Cap ETF, Smartshares) trades on the NZX at 0.51% TER. Both USG and USS 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.
- USG: Smartshares US Growth ETF — 0.51% TER, PIE (max 28% PIR)
- USS: Smartshares US Small Cap ETF — 0.51% TER, PIE (max 28% PIR)
- USG yield: 0.0% (None)
- USS yield: 0.8% (Semi-annual)
- Cheaper TER: USS
Head-to-head comparison
| Feature | USG | USS |
|---|---|---|
| Fund | Smartshares US Growth ETF | Smartshares US Small Cap ETF |
| Issuer | Smartshares | Smartshares |
| Exchange | NZX | NZX |
| Total expense ratio | 0.51% | 0.51% |
| Dividend yield (TTM) | 0.0% | 0.8% |
| Distribution frequency | None | Semi-annual |
| NZ tax wrapper | PIE (max 28% PIR) | PIE (max 28% PIR) |
Where to buy
USG trades on the NZX — buy via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). USS 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 USG and USS?▾
USG (Smartshares US Growth ETF) charges 0.51% TER vs USS (Smartshares US Small Cap ETF) at 0.51%. Both are issued by Smartshares. Both USG and USS 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, USG or USS?▾
USS is cheaper at 0.51% TER vs USG at 0.51% — a gap of 0.00 percentage points.
Which yields more, USG or USS?▾
USG trailing 12-month yield is 0.0%; USS is 0.8%. Headline yield is gross; after-tax outcome depends on your tax wrapper (PIE (max 28% PIR) for USG, PIE (max 28% PIR) for USS).
Can NZ residents buy both USG and USS?▾
Yes. USG is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities). USS is available via any NZX broker (Sharesies, InvestNow, Invest Direct, ASB Securities).
How does NZ tax differ between USG and USS?▾
USG is PIE (max 28% PIR). USS 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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