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AustralianSuper vs Sunsuper: How do these super funds compare?

Trying to decide between AustralianSuper and Sunsuper? We've compared their fees, investment options, performance and extras side by side to help you choose.

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Alison Banney
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Both AustralianSuper and Sunsuper are among the biggest super funds in Australia, with more than a million members each and billions of dollars in funds under management. If you're stuck choosing between the two funds, this comparison may help you decide.

AustralianSuper vs Sunsuper

Let's dive in and compare the two super funds side by side, so you can see which one might be right for you.

AustralianSuperSunsuper
Type of fundIndustry super fundIndustry super fund
Number of members2.3 million members1.4 million members
Funds under management$181 billion$68.7 billion
Default investment optionAustralianSuper Balanced

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.

Sunsuper Lifecycle

A pre-mixed, diversified fund that invests in a range of assets with a strong allocation towards Australian and international shares. This product will automatically reduce your exposure to high-risk assets like shares as you get closer to retirement. It's an authorised MySuper product.

PerformancePast performance of AustralianSuper Balanced as of June 2020:

  • 10 years: 8.98% p.a.
  • 5 years: 8.98% p.a.
  • 3 years: 7.73% p.a.
  • 1 year: 5.55% p.a.
Past performance of Sunsuper Lifecycle as of June 2020:

  • 10 years: 8.2% p.a.
  • 5 years: 8.14% p.a.
  • 3 years: 6.64% p.a.
  • 1 year: 3.18% p.a.
FeesHere's how much you'd pay in fees for one year if you had the following amounts invested in AustralianSuper Balanced:

  • $5,000 balance: $165 in fees
  • $50,000 balance: $411.18 in fees
  • $100,000 balance: $684.71 in fees

 

Here's how much you'd pay in fees for one year if you had the following amounts invested in Sunsuper Lifecycle:

  • $5,000 balance: $116.50 in fees
  • $50,000 balance: $463 in fees
  • $100,000 balance: $848 in fees

 

Additional diversified investment optionsIf 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 (Sunsuper Lifecycle), you can choose to invest your super in one of the following pre-made investment options instead:

  • Growth
  • Balanced
  • Balanced - Indexed
  • Socially Conscious Balanced
  • Diversified Alternatives
  • Retirement
  • Conservative
Single asset class investment optionsIf 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:

  • Shares
  • Australian Shares
  • Property
  • Diversified Bonds
  • Cash
  • Australian Shares (Indexed)
  • International Shares (indexed hedged)
  • International Shares (indexed unhedged)
  • Emerging Markets Shares
  • Australian Property (Indexed)
  • Diversified Bonds (Indexed)
Ethical investmentThe AustralianSuper Socially Aware option doesn't invest in Australian or international companies that directly own coal and fossil fuel reserves, produce tobacco or those which have single-gender boards.

This fund is not certified by the Responsible Investment Association Australasia.

Past performance of AustralianSuper Socially Aware as of June 2020:

  • 1 year: -2.07% p.a.
  • 3 years: 4.83% p.a.
  • 5 years: 6.1% p.a.
The Sunsuper Socially Conscious Balanced investment option avoids investment in companies that generate more than 5% of their revenue from alcohol, tobacco, gambling, pornography, coal or nuclear power manufacturing.

This fund is certified by the Responsible Investment Association Australasia.

Past past performance of Sunsuper Socially Conscious Balanced as of June 2020:

  • 1 year: 0.19% p.a.
  • 3 years: 5.54% p.a.
  • 5 years: 5.97% p.a.
Mobile appThe 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 Sunsuper app has a 3.9-star rating from users in the Google Play Store and a 2.5-star rating in the Apple App Store.
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Sunsuper
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How do the default MySuper products compare?

The two default MySuper options are AustralianSuper Balanced and Sunsuper Lifecycle. The main difference between the two is that Sunsuper Lifecycle is a lifestage investment product, while AustralianSuper Balanced is not.

Both funds invest in a mix of both growth assets (like shares and property) and defensive assets (like bonds and cash). With AustralianSuper Balanced, the investment mix is the same for all members invested in this option, regardless of your age. However, with Sunsuper Lifecycle, it will gradually reduce your exposure to growth assets as you get older and closer to retirement to help minimise your investment risk. The idea behind this is that you'll be invested in more high-risk, high-growth assets while you're young and less so as you get older.

How do their fees and performance figures compare?

Looking at the default options, AustralianSuper has slightly lower annual fees than Sunsuper. However, both funds are relatively low-fee options compared to some other MySuper products in the market. Annual fees that are less than 1% of your balance are considered to be reasonable and both of these funds' fees are.

Looking at performance, AustralianSuper Balanced has delivered higher returns than Sunsuper Lifecycle over the short, medium and long term. Most of AustralianSuper's additional investment options have also performed better than those offered by Sunsuper over the past decade.

How do the ethical investment options compare?

Both AustrailanSuper Socially Aware and Sunsuper Socially Conscious Balanced avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. Both funds lists their fund holdings on their website for you to see exactly which companies they invests in.

Sunsuper Socially Conscious Balanced is also certified by the Responsible Investment Association Australasia, which is a leading independent investment body for responsible investment in Australia and New Zealand. AustralianSuper Socially Aware does not have this certification. However, AustralianSuper Socially Aware has slightly outperformed Sunsuper Socially Conscious Balanced over the medium to long term, and it also has lower annual fees.

If you're interested in investing your super ethically, you can compare these funds with a range of additional ethical super funds in our guide.

How do the additional investment options compare?

Sunsuper offers more investment options to choose between than AustralianSuper (here's a guide on how the different super investment options work and how to choose). As well as the default MySuper product, Sunsuper offers seven additional pre-mixed investment options for members to choose between. In comparison, AustralianSuper offers five. Both funds offer an indexed portfolio option and an ethical option too.

If you want to build your own portfolio by selecting individual asset classes yourself, Sunsuper offers a lot more choice. Sunsuper has 11 single asset classes to choose between, while AustralianSuper only offers 5. The main difference here is that Sunsuper offers indexed individual asset options, like Australian shares (indexed), international shares (indexed) and property (indexed), while AustralianSuper does not. So if you're looking to build your own investment mix and want to keep investment fees to a minimum by using indexed products, this will be easier to achieve with Sunsuper.

Want to keep comparing?

If you're not yet convinced that either AustralianSuper or Sunsuper 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.

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