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That's six times more expensive than buying into the Vanguard fund directly, at 0.05 per cent.

The other eight funds charge 0.45 per cent, roughly three times more.

Compared to active managers charging through the nose, the fees are minimal.

READ MORE: Every win balanced by a loss Private Asset Management financial adviser Brent Sheather is a fan of the automated approach."The good thing about an ETF is that if they have a great year, the computer doesn't suddenly say 'I want a performance fee'," he says.

That ranges from a "horrendous" 0.2 per cent cut of any international funds being held, to a flat fee of or so per stock.

Sheather says for those with a hundred grand to invest, flat fees are not a big deal."For people with large amounts, they might still be better to go with Vanguard directly."For smaller mum and dad investors, the NZX funds will probably work out cheaper, but it needs to be worked out on a case-by-case basis, Sheather says.

These days, more than 50 per cent of new investments made in the United States are under 'passive' management.

Cash is pouring into exchange-traded funds (ETFs), which offer huge diversification by simply tracking entire markets or sectors.

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In simple terms, when the market has performed poorly, you'll have a good chance of paying no tax at all, even if you received some dividend income.The local stockmarket operator's attempt to get ETFs off the ground hasn't exactly been a roaring success.NZX's little-loved range of passive funds have been expensive by global standards, and confined to the Australian and New Zealand markets.On the go and no time to finish that story right now?Your News is the place for you to save content to read later from any device.

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