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AustralianSuper and HESTA are two of the biggest super funds in Australia. Both are industry super funds which are open to all Australians to join. HESTA is the dedicated industry super fund for the healthcare and community services sector. AustralianSuper isn't associated with one particular industry, but is the largest super fund in Australia.
AustralianSuper vs HESTA
Let's dive in and compare the two super funds side by side, so you can see which one might be right for you.
AustralianSuper
HESTA
Type of fund
Industry super fund and Australia's largest super fund
Industry super fund with a focus on the healthcare sector
This is a pre-mixed, diversified fund that invests your super in a range of assets with a strong allocation towards Australian and international shares, direct property and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product.
Similar to AustralianSuper Balanced, this is a ready-made investment portfolio with a strong focus on shares, private equity and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product.
Performance
Past performance of AustralianSuper Balanced:
10 years: 8.61% p.a.
5 years: 6.75% p.a.
3 years: 8.25% p.a.
Past performance of HESTA Balanced Growth:
10 years: 8.02% p.a.
5 years: 6.56% p.a.
3 years: 8.61% p.a.
Fees
Here's how much you'd pay in fees for one year if you had the following amounts invested in AustralianSuper Balanced:
$5,000 balance: $85 in fees
$50,000 balance: $382 in fees
$100,000 balance: $712 in fees
Here's how much you'd pay in fees for one year if you had the following amounts invested in HESTA Balanced Growth:
$5,000 balance: $94.50 in fees
$50,000 balance: $477 in fees
$100,000 balance: $902 in fees
Additional diversified investment options
If you don't want to invest in the default option (AustralianSuper Balanced), you can choose to invest your super in one of the following pre-made investment options instead:
High Growth
Socially Aware
Indexed Diversified
Conservative Balanced
Stable
If you don't want to invest in the default option (HESTA Balanced Growth), you can choose to invest your super in one of the following pre-made investment options instead:
High Growth
Sustainable Growth
Indexed Balanced Growth
Conservative
Single asset class investment options
If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
Australian Shares
International Shares
Property
Diversified Fixed Interest
Cash
If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
Australian Shares
International Shares
Property and Infrastructure
Diversified Bonds
Cash and Term Deposits
Mobile app
The AustralianSuper app has a 3.6-star rating from users in the Google Play Store and a 3-star rating in the Apple App Store.
The HESTA mobile app has a 1.5-star rating from users in the Google Play Store and a 1.3-star rating in the Apple App Store.
Looking at their investment allocation, AustralianSuper Balanced has more exposure to international shares than HESTA Balanced Growth. Overall, AustralianSuper Balanced has a bit more exposure to high-risk, growth assets, but the difference is only minor.
How do their fees and performance figures compare?
Looking at the default options, AustralianSuper has lower annual fees than HESTA. AustralianSuper Balanced has also delivered higher returns than HESTA Balanced Growth over the short, medium and long term.
If your interested in knowing how both AustralianSuper and Hesta compare to other funds, have a look at our top Australian super funds guide.
How do the ethical investment options compare?
Both AustralianSuper Socially Aware and HESTA Sustainable Growth avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. However, AustralianSuper is more transparent with its investments; it has a full list of its fund holdings on its website for you to see exactly which companies it invests in, while HESTA only lists its top holdings.
HESTA Sustainable Growth has achieved better returns than AustralianSuper Socially Aware over the short, medium and long term. It even achieved a positive return of 9.94% p.a. for the year ending in June 2020, which is impressive given the big falls in global share markets due to the COVID-19 pandemic (AustralianSuper Socially Aware achieved a negative return of 7.44% p.a. in comparison). However, HESTA's fees are slightly higher.
If you're interested in investing your super ethically, you can compare these funds with range of additional ethical super funds in our guide.
How do the additional investment options compare?
AustralianSuper and HESTA offer very similar additional investment options. AustralianSuper offers one extra pre-mixed portfolio option than HESTA, but both funds offer five single asset class options each. Again, HESTA charges slightly higher fees for its additional investment options compared to AustralianSuper.
If you're unsure how these different options work with your super fund, here's a guide on superannuation investment options and how to choose between them.
Want to keep comparing?
If you're not yet convinced that either AustralianSuper or HESTA is right for you, or you simply want to see how they compare to others in the market, you can compare super funds with our guide.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
Superannuation is the main way of saving for your retirement in Australia. Your superannuation is one big investment portfolio in your name that's managed for you by your super fund. Â
Trying to decide between AustralianSuper and Sunsuper? We've compared their fees, investment options, performance and extras side by side to help you choose.
Here’s what you need to know about changing super funds including how to do it, the fees that apply, how long it takes and the pros and cons of switching.
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