Sharesies and InvestNow are two of the most popular investing platforms in New Zealand. Both let you invest from $1, both are regulated by the FMA, and both have helped hundreds of thousands of New Zealanders get started with investing. But they serve somewhat different purposes.
Sharesies offers individual NZX, ASX, and US shares in an app, with 1.9% brokerage per trade (capped). InvestNow offers 100+ managed funds and automatic regular investing with no platform fee and no transaction fee on most funds. InvestNow's Foundation Series funds are among the lowest-fee index funds available in NZ. Which suits you depends on whether you want individual shares or managed funds; many NZ investors use both.
Side-by-Side Comparison
| Feature | Sharesies | InvestNow |
|---|---|---|
| Founded | 2017 (NZ) | 2017 (NZ) |
| Platform fee | $0 ongoing (optional $3/$7/$15 monthly plans) | $0 |
| Transaction fee | 1.9% per trade, capped ($25 NZD / $15 AUD / $5 USD) | $0 (for managed funds) |
| Buy individual NZX shares? | Yes | No |
| Buy ASX shares? | Yes | No |
| Buy US shares? | Yes (NZD or USD) | No |
| Managed funds? | 29 managed funds, plus 4,500+ ETFs (as at October 2026) | 100+ funds |
| Auto-invest? | Yes | Yes |
| Fractional shares? | Yes | Not applicable (units) |
| PIE funds? | Yes (some) | Yes (most) |
| Term deposits? | No | Yes |
| KiwiSaver? | No | No (separate) |
| Min investment | $1 | $1 |
Providers are listed alphabetically.
InvestNow: Detailed Review
What InvestNow offers
InvestNow was founded in 2017 and is focused on providing access to NZ’s managed fund ecosystem without platform fees. You can invest in over 100 funds from providers including Vanguard, AMP, Harbour, Pathfinder, Pie Funds, and InvestNow’s own Foundation Series.
Investments available:
- 100+ managed funds (PIE and non-PIE)
- Term deposits (from multiple providers)
- Foundation Series funds (annual fees from 0.03%)
- Smart ETF series (formerly branded Smartshares; bought as managed funds, not exchange-traded)
Tax: Most InvestNow funds are PIE-structured, so tax is handled automatically at your PIR. InvestNow files the necessary tax returns. No separate FIF filing needed for PIE global funds.
Fees in detail
- Platform fee: $0
- Transaction fee: $0 for most managed funds; the Foundation Series funds are an exception, carrying a 0.50% buy / 0.50% sell fee on top of the annual fee
- You pay the fund’s own annual fee (MER)
Foundation Series fund fees vary: the narrow Foundation Series US 500 Fund charges 0.03%, the Foundation Series Total World Fund charges 0.06%, and the Foundation Series diversified funds (Balanced, Growth, High Growth) run higher still (0.37%). InvestNow also separately lists the Vanguard International Shares Select Exclusions Index Fund (not part of the Foundation Series brand) at ~0.20% for broader developed-market global equities.
On $50,000 invested in the US 500 Fund, that’s ~$15/year. The broader Vanguard International Shares Select Exclusions Index Fund at 0.20% is $100/year.
InvestNow’s features
- Low-cost index funds with no transaction costs on most funds
- Monthly auto-investment into managed funds
- A wide range of managed funds (ethical, active, passive)
- Term deposits alongside managed funds
- No transaction fees on most funds, which matters more as amounts get larger
InvestNow’s limitations
- No individual NZX or ASX shares
- Not a mobile-first app
- No share trading
Sharesies: Detailed Review
What Sharesies offers
Sharesies launched in 2017. It is an app where you can buy fractional shares in NZX, ASX, and US companies from as little as $1.
Investments available:
- NZX-listed shares and ETFs (all)
- ASX-listed shares and ETFs (hundreds)
- US shares (NYSE, NASDAQ: thousands)
- Select managed funds and ETFs (e.g., Smart ETFs, formerly branded Smartshares)
Tax: Sharesies handles PIE tax automatically for eligible funds. For individual NZX shares, tax on dividends (with imputation credit details) is provided via year-end tax summaries. For US shares, Sharesies is a conduit, so FIF tax is your responsibility to file.
Fees in detail (2026 pricing)
Sharesies no longer charges an ongoing percentage-of-portfolio platform fee. Instead, it charges a per-trade brokerage fee with per-market caps:
| Market | Brokerage | Cap |
|---|---|---|
| NZX | 1.9% per order | Capped at $25 NZD (orders above ~$1,316) |
| ASX | 1.9% per order | Capped at $15 AUD (orders above ~$805) |
| US | 1.9% per order | Capped at $5 USD (orders above ~$264) |
There’s also a 0.5% currency-exchange fee on NZD↔AUD and NZD↔USD conversions.
Optional subscription plans: $3, $7, or $15 per month give you a covered monthly trading allowance (e.g. the $3 plan covers $500 NZD of buy/sell orders and $1,000 NZD of auto-invest) and reduce brokerage beyond that allowance, which makes the most difference for larger or more frequent trades.
Cost example: A $200 monthly auto-invest into an NZX fund costs $3.80 in brokerage (1.9% of $200) on the pay-as-you-go plan, about $46/year, with no separate ongoing platform fee.
Sharesies’ features
- Individual NZX or ASX shares
- US shares on a NZD-denominated platform
- A mobile app and fractional investing from $1
- A mix of shares and ETFs in one place
Sharesies’ limitations
- Brokerage on every fund purchase, unlike InvestNow’s no-fee managed funds
- Large managed fund investments cost more than on InvestNow (no transaction fee on most funds)
- A smaller managed fund range than InvestNow’s 100+
Fee Comparison — Real World Example
Scenario: $200/month invested in a global index fund for 10 years
| Platform | Fund | Fund fee | Platform/brokerage fee | Total annual cost on $24k portfolio |
|---|---|---|---|---|
| InvestNow | Foundation Series US 500 Fund (US-only) | 0.03% | $0 | ~$7/year |
| InvestNow | Vanguard International Shares Select Exclusions Index Fund (broader global) | 0.20% | $0 | ~$48/year |
| Kernel | Global 100 | 0.25% | $0 | ~$60/year |
| Sharesies | Smart TWF ETF (formerly Smartshares) | 0.40% | $0 ongoing + ~$46/year brokerage on a $200/month auto-invest | ~$142/year |
| Bank KiwiSaver | Balanced fund (not investing) | ~0.80% | $0 | ~$192/year |
Over 10 years, the difference between InvestNow’s narrow US 500 Fund and a 0.80% bank-linked managed fund on $24,000 is substantial — even the broader Vanguard International Shares Select Exclusions Index Fund at 0.20% costs a fraction of a typical bank fund.
What About Kernel?
Kernel is another NZ fund platform:
- No platform fee (like InvestNow)
- No brokerage (like InvestNow)
- Kernel’s own funds only (28 funds as at October 2026)
- Mobile app (like Sharesies)
- 0.25% p.a. fund fee on core funds (up to ~0.45% for specialty/thematic funds), lower than most active funds; InvestNow’s Foundation Series ranges from 0.03% to 0.37% depending on the fund
In short: Kernel combines an app with zero platform and brokerage fees, but has a much narrower fund range than InvestNow.
Can I Use Both?
Yes, and many NZ investors do, for example:
- InvestNow for automated monthly investments into Foundation Series index funds
- Sharesies for occasional individual share purchases (NZX, ASX, US) and dividend income
There’s no penalty for holding accounts on multiple platforms. Total assets across all platforms are your responsibility to track for tax purposes.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
Frequently Asked Questions
Is Sharesies safe to use in NZ?
Yes. Sharesies is licensed by the Financial Markets Authority (FMA) and is a registered financial service provider. Your investments are held in nominee accounts separate from Sharesies’ own funds — if Sharesies folded, your investments would be protected.
What are Sharesies’ fees in NZ?
As of 2026, Sharesies charges no ongoing platform fee. Instead, it charges 1.9% brokerage per trade, capped at $25 NZD (NZX), $15 AUD (ASX), or $5 USD (US orders), plus a 0.5% currency-exchange fee on NZD↔AUD/USD conversions. Optional $3/$7/$15 monthly plans give a covered trading allowance and reduce brokerage for frequent traders.
Is InvestNow free to use?
Yes — InvestNow charges no platform fee and no transaction fee on most funds (the Foundation Series funds are an exception, carrying a 0.50% buy/sell fee). You only pay the fund’s own management fee, which varies significantly by fund: the narrow Foundation Series US 500 Fund charges approximately 0.03%, while the broader Vanguard International Shares Select Exclusions Index Fund (developed-market global equities, not part of the Foundation Series) charges approximately 0.20%.
How do Sharesies and InvestNow provide support?
Sharesies has a larger user base and an online community. InvestNow offers support by email. Both have online help centres and FAQs.
How do Sharesies and InvestNow differ for a beginner?
Of the two, only Sharesies sells individual shares. For managed index funds, InvestNow and Kernel charge no brokerage, while Sharesies charges 1.9% per trade (capped). Opening an account on each is free, and some investors use InvestNow for regular automated fund investing and Sharesies for individual shares.