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Best industry super funds

Here are the 5 best-performing industry super funds over the past 10 years. Switching to one could mean you retire with more money in your super.

By

Alison Banney

Updated

Dec 20, 2023

Fact checked

Best returns: 1st place

Hostplus Balanced

Hostplus Balanced has returned 8.26%p.a. over the last 10 years.

Best returns: 2nd place

AustralianSuper - Balanced Fund

Finder Award

AustralianSuper Balanced has returned 7.94%p.a. over the last 10 years.

Best returns: 3rd place

Australian Retirement Trust - Balanced

Finder Award

This product has returned 7.9%p.a. over the last 10 years.

Best returns: 4th place

UniSuper - Balanced

Finder Award

UniSuper Balanced has returned 7.75%p.a. over the last 10 years.

Best returns: 5th place

Cbus Growth

Cbus Balanced has returned 7.6%p.a. over the last 10 years.

1 - 11 of 264

Name	Last 1 year performance (p.a.)	Last 3 year performance (p.a.)	Last 5 year performance (p.a.)	Last 10 year performance (p.a.)	Fees on $50k balance (p.a.)
HESTA Balanced Growth Industry fund	Last 1 year performance (p.a.) +10.46%	Last 3 year performance (p.a.) +6.8%	Last 5 year performance (p.a.) +7.63%	Last 10 year performance (p.a.) +7.41%	Fees on $50k balance (p.a.) $477	Go to site More Info Compare
CareSuper Balanced Industry fund	Last 1 year performance (p.a.) +9.03%	Last 3 year performance (p.a.) +6.37%	Last 5 year performance (p.a.) +7.47%	Last 10 year performance (p.a.) +7.45%	Fees on $50k balance (p.a.) $553	Go to site More Info Compare
Aware Super High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +12.34%	Last 3 year performance (p.a.) +7.06%	Last 5 year performance (p.a.) +9.26%	Last 10 year performance (p.a.) +8.4%	Fees on $50k balance (p.a.) $497	Go to site More Info Compare
AustralianSuper Conservative Balanced Finder AwardIndustry fund	Last 1 year performance (p.a.) +7.06%	Last 3 year performance (p.a.) +4%	Last 5 year performance (p.a.) +5.93%	Last 10 year performance (p.a.) +6.25%	Fees on $50k balance (p.a.) $367	Go to site More Info Compare
CareSuper Growth Industry fundHigher risk	Last 1 year performance (p.a.) +11.15%	Last 3 year performance (p.a.) +7.42%	Last 5 year performance (p.a.) +8.66%	Last 10 year performance (p.a.) +8.16%	Fees on $50k balance (p.a.) $553	Go to site More Info Compare
Australian Retirement Trust - International Shares Index (unhedged) Finder AwardIndustry fundIndexed investmentHigher risk	Last 1 year performance (p.a.) +20.62%	Last 3 year performance (p.a.) +10.53%	Last 5 year performance (p.a.) +12.21%	Last 10 year performance (p.a.) +10.95%	Fees on $50k balance (p.a.) $192	Go to site More Info Compare
UniSuper - Balanced Industry fund	Last 1 year performance (p.a.) +10.33%	Last 3 year performance (p.a.) +5.5%	Last 5 year performance (p.a.) +8.05%	Last 10 year performance (p.a.) +7.75%	Fees on $50k balance (p.a.) $351	Go to site More Info Compare
HESTA High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +13.09%	Last 3 year performance (p.a.) +8.89%	Last 5 year performance (p.a.) +9.87%	Last 10 year performance (p.a.) +8.72%	Fees on $50k balance (p.a.) $557	Go to site More Info Compare
AustralianSuper - Balanced Industry fund	Last 1 year performance (p.a.) +8.96%	Last 3 year performance (p.a.) +6.07%	Last 5 year performance (p.a.) +8.05%	Last 10 year performance (p.a.) +7.94%	Fees on $50k balance (p.a.) $382	Go to site More Info Compare
Spirit Super - Australian Shares Industry fundHigher risk	Last 1 year performance (p.a.) +11.98%	Last 3 year performance (p.a.) +8.64%	Last 5 year performance (p.a.) +10.01%	Last 10 year performance (p.a.) +8.14%	Fees on $50k balance (p.a.) $402	Go to site More Info Compare
Australian Retirement Trust - Lifecycle Balanced Pool Industry fundLifestage	Last 1 year performance (p.a.) +10.09%	Last 3 year performance (p.a.) +7.68%	Last 5 year performance (p.a.) +8.25%	Last 10 year performance (p.a.) +7.86%	Fees on $50k balance (p.a.) $547	Go to site More Info Compare

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Showing 11 of 43 results

Unless indicated otherwise, the information in the table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, Australian Financial Services Licence 311880.

*Past performance data and fee data is for the period ending Dec 2023

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What is an industry super fund?

Industry super funds are not-for-profit super funds that are owned by the members of the fund. These funds give profits back to members in the form of lower fees, instead of paying profits to shareholders like many retail super funds do. Lower fees often mean higher investment returns over the long term, too.

Industry super funds aren't owned by a major bank or financial institution. Instead, they're owned by the members of the fund. Industry super funds are not-for-profit funds, as they don't exist to make a profit for a parent company or shareholders, but instead exist to benefit the members of the fund.

Benefits of joining an industry super fund:

A lot of members from a particular industry
Profits go back into the fund to benefit members, not shareholders
Low fees compared to some major retail funds
Strong long-term performance figures
They're not owned by a bank or financial institution
Large investments in Australian infrastructure (unlisted assets)

Who can join an industry super fund?

Many industry super funds were initially only available to workers in a certain industry, for example, hospitality or retail. However, today, most industry super funds are open for all Australians to join.

If you work in a particular industry your employer may have the associated industry super fund available as their default option for employees. However, you're in no way required to join your employers chosen fund or your industry fund and are free to join whichever super fund you wish.

Consider the following features when you're choosing an industry super fund.

The industry it's aligned to

Most funds are open to everyone to join, and you don't have to join the fund for your particular industry. however, you might like to. Some industry funds offer tailored perks and benefits to people who work in that industry, and often the fund will invest back into the industry when making investment decisions.

Past performance

When comparing performance, look for a fund with high long-term returns (the 10+ year returns) for the most accurate picture of how the fund has performed on average.

The fees

Look for low annual admin and investment fees. The more money you pay in fees the less you'll benefit from investment returns.

Insurance options

Does the fund offer tailored insurance options for your particular industry? For example, Cbus is the industry fund for construction workers and offers a range of insurance options to suit this line of work.

Investment strategy

Check the fund's investment strategy aligns with what you're looking for. For example does it invest ethically?

How well do industry super funds perform?

Industry super funds have, on average, performed better than retail super funds over the long term. Data analysed by Industry Super Australia found that industry funds have outperformed retail funds over the past 5, 10 and 20 years.

Finder's comparison table shows that of the top-10 performing Balanced funds for the past decade, all 10 are industry super funds. These are listed below.

Best industry super funds

The table below shows the top 10 Balanced industry super funds based on 10-year return, per annum to December 2022.

Super fund	10-year return
Hostplus Balanced	9.1%
AustralianSuper Balanced	8.78%
Australian Retirement Trust Balanced Balanced	8.56%
UniSuper Balanced	8.45%
Cbus MySuper	8.42%
CareSuper Balanced	8.29%
HESTA Balanced Growth	8.07%
Legal Super MySuper Balanced	8.04%
Vision Super Balanced Growth	8.01%
Aware Super Growth	7.98%

Methodology

The table above looks at only Balanced industry super funds using data from Chant West and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.

When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending December 2022. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.

Do industry super funds have low fees?

The fees charged by industry super funds vary, and will depend on the investment option that you're in.

5 Balanced industry super funds with the lowest fees

Super fund	Fees p.a. on $50k balance
UniSuper Balanced	$351
QSuper Balanced	$450
Vision Super Balanced Growth	$393
Rest Super - Core Strategy	$433
AustralianSuper Balanced	$382

How to switch to an industry super fund

Follow these steps to switch to an industry super fund:

1. Pick an industry super fund.

You can use the comparison table above to compare the fees and performance figures for all industry super funds.

2. Join the fund.

Complete the online membership application form for the fund you've chosen. Make sure to have details like your Tax File Number and your employer's details handy, as well as ID like a driver's license or passport.

3. Close your previous fund (if you have one).

There will be an option to consolidate your super in the application form. Just provide your membership number/s from your old fund, and the new fund you're switching to will take care of the rest.

4. Tell your employer.

Give your new membership number and account details to your employer so that they can pay your super guarantee payments directly into the new fund.

I recently switched super funds to a better performing fund. One thing that helped me out in selecting the right fund was selecting 3-5 funds which had great long term performance with low fees. The final deciding factor which helped me choose the right fund was how my values and risk tolerance aligned with the fund. In the end I chose a fund that had a strong track record of growth and low fees.

— Raj Lal, super funds publisher

Frequently asked questions

Industry Super Australia is an advocacy body representing the needs and interests of industry super funds. It's also a research body which commissions consumer research projects on the superannuation sector at large, with a focus on industry funds and their benefits to Australians. Industry Super Australia actively campaigns for Australian workers to join an industry super fund as opposed to a retail fund, often citing data that industry funds on average perform better than retire funds.
The main difference between industry and retail funds is with their ownership structure. Industry funds exist solely for the purpose of superannuation and all profits are distributed back nto the fund, which ultimately benefits members. Retail funds are usually owned by large banks or other financial companies that offer a rage of finance products, not just superannuation. Profits from retail funds go to shareholders other parts of the business, as well as to members.
Another interesting point of difference between these two types of funds is that industry super funds have significant investments in unlisted assets. This mainly includes Australian infrastructure like roads, bridges, airports and public transport.

Why you can trust Finder's super fund experts

We're free

Our comparison tables are completely free to use. We link you directly to the super fund's secure application page. Plus, you can access all of our research in our media room.

We're experts

We've researched and rated hundreds of super funds as part of our Finder Awards. We've published 50+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.

We're independent

Unlike other comparison sites, we're not owned by a super fund company. That means our opinions are our own and you can compare nearly every super fund in Australia on Finder.

Alison Banney

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.

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4 Responses

MikeOctober 23, 2018

What super fund will accept KiwiSaver?

Reply

Finder

JhezelynOctober 23, 2018Finder

Hello Mike,

Thank you for your comment.

According to the super guide, there are only 3 Australian super funds that accept transfers from KiwiSaver accounts to Australian super accounts. These are WA Super, FIRST Super and Energy Super.

Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

Regards,
Jhezelyn

Reply

KevinApril 21, 2018

what retail or industry funds accept QROPS 55 from the UK new members KC?

Reply

Finder

JeniApril 22, 2018Finder

Hi Kevin,

Thank you for your inquiry.

Please see this guide to check the recognised overseas pension schemes notification list for the full list of retail and industry funds in Australia that accept QROPS.

Please note that you will need to check that the scheme you are transferring to on or after that date meets the new requirements.

I hope this helps.

Cheers,
Jeni

Reply

Best industry super funds

Here are the 5 best-performing industry super funds over the past 10 years. Switching to one could mean you retire with more money in your super.