How to Invest in the Nasdaq 100 from New Zealand
Updated Reviewed quarterly
The Nasdaq-100 is tracked by the US-listed QQQ and the lower-fee QQQM — here's how NZ investors buy it, and how it's taxed.
Direct answer · How can I invest in the Nasdaq 100 from New Zealand?
Background
What is the Nasdaq-100?
The Nasdaq-100 is an index of 100 of the largest non-financial companies listed on the Nasdaq stock exchange. It is heavily weighted toward technology and communication-services companies, which is why it behaves differently from a broad market index like the S&P 500. It excludes financial companies by design.
You cannot buy an index directly — you buy a fund that tracks it. The two most common vehicles are Invesco's QQQ and QQQM, both US-listed ETFs. A tech-heavy alternative some NZ investors compare against is Vanguard's VGT (the Information Technology sector ETF), which overlaps heavily with the Nasdaq-100's largest names but follows a sector index rather than the Nasdaq-100 itself.
Same index, two funds
QQQ vs QQQM — the factual difference
QQQ and QQQM both track the Nasdaq-100 and hold the same companies, so their exposure is identical. Two factual differences separate them: the ongoing fee and the trading liquidity.
| ETF | Full name | TER | Yield | Characteristic |
|---|---|---|---|---|
| QQQ | Invesco QQQ Trust | 0.18% | 0.7% | Older, larger, deeper liquidity + active options market |
| QQQM | Invesco Nasdaq-100 ETF | 0.15% | 0.6% | Lower expense ratio; built for buy-and-hold investors |
| VGT | Vanguard Information Technology ETF | 0.09% | 0.6% | Tech-sector alternative — overlaps but tracks a different index |
Because the two Nasdaq-100 funds are otherwise identical, the lower expense ratio of QQQM reduces long-run cost drag for a buy-and-hold investor, while QQQ's deeper liquidity and options market can matter more for active traders. This is a factual fee-and-liquidity trade-off, not a recommendation — which suits you depends on how you plan to trade and your own circumstances. See the full side-by-side in QQQ vs VGT.
Step by step
How to buy the Nasdaq 100 from NZ
- Choose QQQ or QQQM. Both track the Nasdaq-100 and hold the same companies; decide on the fee-vs-liquidity trade-off above.
- Open an NZ-accessible brokerage. Pick a platform that offers US-market access to NZ residents. Filing a W-8BEN with the broker claims the reduced US dividend withholding rate under the NZ–US tax treaty.
- Fund the account and convert to USD. Deposit NZD and convert to USD — the FX conversion charge varies by platform and is part of your total cost.
- Place the buy order. Buy QQQ or QQQM on the US market. US-listed shares settle T+1 (one business day) (source) after the trade.
- Track the holding for FIF tax. Record your cost basis and market values so you can apply FIF rules if your overseas-share holdings exceed the de-minimis threshold.
Platform availability
Where to buy QQQ from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 Sharesies Sharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 Hatch Hatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 Stake Stake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive Brokers Interactive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger Brokers Tiger Brokers | US$1.99 per US trade | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Jarden Direct Jarden Direct | NZ$29.90 per NZX trade | ~0.40% | NZ$0 | Larger NZX trades and global market access through one NZ broker |
 ASB Securities ASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax
How the Nasdaq 100 is taxed for NZ investors (FIF)
QQQ and QQQM are US-domiciled ETFs, not NZ PIEs. Once your total cost basis in overseas shares exceeds the FIF de-minimis threshold of NZ$50,000 (source) , your holding falls under New Zealand's Foreign Investment Fund (FIF) rules. Most individuals use the Fair Dividend Rate method, which deems annual income at 5% (source) of the opening market value, taxed at your marginal rate. Below the threshold, ordinary tax on any dividends applies instead.
Separately, US dividends paid to NZ residents attract US withholding tax: 15% (source) if you file a W-8BEN with your broker, otherwise the default 30% (source) . The Nasdaq-100 yields relatively little (see the yield column above), so the dividend component is small, but the FIF calculation still applies to the capital value.
FIF is one of the more complex parts of NZ tax. This is general information, not personalised tax advice — confirm your position using our FIF explainer, IRD guidance, or a tax adviser.
Local options
Is there an NZX-listed or PIE Nasdaq 100 option?
Being factual: there is currently no NZX-listed ETF or NZ PIE fund that tracks the Nasdaq-100 as a standalone index. NZ investors who want direct Nasdaq-100 exposure use the US-listed QQQ or QQQM.
Some NZ-domiciled global or US-equity PIE funds hold many of the same large technology companies inside a broader index — for example a total-US or total-world equity fund — but that is diversified market exposure, not a pure Nasdaq-100 tracker. If a PIE structure matters to you for tax reasons, weigh that broader-index exposure against the concentrated Nasdaq-100 exposure of QQQ/QQQM.
FAQ
Nasdaq 100 from NZ — common questions
How do I invest in the Nasdaq 100 from New Zealand? ⌄
NZ investors typically access the Nasdaq-100 through a US-listed ETF that tracks the index — Invesco QQQ (0.18% TER) or its lower-fee sibling QQQM (0.15% TER). The steps are: open a brokerage account that offers US-market access to NZ residents (for example Sharesies, Hatch, Stake or Interactive Brokers), fund it in NZD and convert to USD, place a buy order for QQQ or QQQM, then keep records for Foreign Investment Fund (FIF) tax. Both funds hold the same 100 companies; the difference is the fee and QQQ's deeper trading liquidity.
QQQ or QQQM — which is better for NZ investors? ⌄
QQQ and QQQM both track the same Nasdaq-100 Index and hold the same companies, so their exposure is identical. The factual difference is cost and liquidity: QQQM charges a lower expense ratio (0.15% vs 0.18% for QQQ), while QQQ is the older, far more heavily traded fund with tighter bid-ask spreads and an active options market. For a buy-and-hold NZ investor the lower ongoing fee of QQQM reduces long-run cost drag; for active traders QQQ's liquidity can matter more. Neither is a recommendation — the right fit depends on how you intend to trade and your own circumstances.
Is QQQ PIE or FIF taxed in NZ? ⌄
QQQ (and QQQM) are US-domiciled ETFs, not New Zealand Portfolio Investment Entities (PIEs), so they are not PIE-taxed. Once your total cost basis in overseas shares exceeds the FIF de-minimis threshold of NZ$50,000, they fall under New Zealand's Foreign Investment Fund (FIF) rules — most individuals use the Fair Dividend Rate method. Below that threshold, ordinary tax on any dividends applies instead. FIF is complex, so confirm your position with IRD or a tax adviser.
Which NZ brokers let me buy QQQ? ⌄
QQQ is a US-listed ETF, so any NZ-accessible platform with US-market coverage can list it — this commonly includes Sharesies, Hatch, Stake and Interactive Brokers, among others. The "Where to buy QQQ from New Zealand" table on this page shows each platform's per-trade fee and FX charge. Platform coverage and fees change, so verify with the platform before you transact.
Is there an NZX-listed or PIE version of the Nasdaq 100? ⌄
There is no direct NZX-listed or PIE fund that tracks the Nasdaq-100 as a standalone index. NZ investors wanting Nasdaq-100 exposure use the US-listed QQQ or QQQM. Some NZ-domiciled global or US-equity PIE funds hold many of the same large technology companies inside a broader index (such as a total-US or total-world fund), but that is diversified market exposure, not a pure Nasdaq-100 tracker.
What are the tax and currency risks of holding QQQ from NZ? ⌄
Two things to weigh. First, tax: above the FIF threshold of NZ$50,000 cost basis you apply FIF rules, and US dividends paid to NZ residents are subject to US withholding — 15% if you file a W-8BEN with your broker, otherwise the default 30%. Second, currency: QQQ trades in USD, so your NZD return also moves with the NZD/USD exchange rate. Neither of these is advice — FIF in particular is complex, so check IRD guidance or a tax adviser.
Related
QQQ — Invesco QQQ Trust
Full profile of the flagship Nasdaq-100 ETF.
QQQM — Invesco Nasdaq-100 ETF
The lower-fee Nasdaq-100 sibling for buy-and-hold.
QQQ vs VGT
Nasdaq-100 vs the tech-sector alternative, side by side.
FIF tax explained
How US-listed ETFs are taxed for NZ residents.
S&P 500 ETFs for NZ investors
The broader-market alternative to the Nasdaq-100.
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