I am considering put some spare money into indexed funds, a couple of thousands to start with.

And I am looking at InvestNow for no annual fees.

Now I am compare AMP's NZ Shares EFT to SmartShares NZ Top 50.

My understanding is they are doing pretty much the same thing (track return of NZX 50 Portfolio Index), but potentially different approaches/implementations?

And my understanding is that SmartShare's NZ top 50 is capped at 5% index EFT, but AMP's NZ Share 50 is probably not capped ?

So AMP's EFT is slightly less in fees, assume you are not trading often, but hold the share's instread, but it is not same performance compare to Smareshare's EFT and I think Capped index is considered have slightly better performance?

I can't found enough information about the details of AMPS NZ Shares EFT funds allocation, but it is clearly not capped at 5% which is mentions somewhere for Smareshare's EFT.