QSuper vs Sunsuper: Which super fund is right for you? - finder.com.au

QSuper vs Sunsuper: Which super fund is right for you?

We've compared the fees, investment options and performance for both QSuper and Sunsuper to help you choose between these two popular super funds.

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QSuper 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.

QSuperSunsuper
Type of fundIndustry super fundIndustry super fund
Number of members594,000 members1.4 million members
Funds under management$109 billion$68.7 billion
Default investment optionQSuper Lifetime

This is a pre-mixed, diversified fund that also invests in a range of different asset classes. It's an authorised MySuper product.

QSuper Lifetime is a life-cycle investment product that adjusts your investment mix in line with your age. This product will gradually decrease your exposure to high-risk, high-growth assets as you get closer to retirement. The Lifetime product is split into four different life stages.

Sunsuper Lifecycle

This fund is also a pre-mixed, diversified fund that invests in a range of assets with a strong allocation towards Australian and international shares and is an authorised MySuper product.

This product is also a life-cycle fund that will automatically reduce your exposure to high-risk assets like shares as you get closer to retirement. It's split into three different life stages.

PerformancePast performance of QSuper Lifetime:

  • 5 years: 8.21% p.a.
  • 3 years: 7.03% p.a.
  • 1 year: 4.08% p.a.
Past performance of Sunsuper Lifecycle:

  • 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 QSuper Lifetime:

  • $5,000 balance: $31.50 in fees
  • $50,000 balance: $315 in fees
  • $100,000 balance: $630 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 (QSuper Lifetime), you can choose to invest your super in one of the following pre-made investment options instead:

  • Aggressive
  • Socially Responsible
  • Balanced
  • Moderate
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
  • Diversified Bonds
  • 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 QSuper Socially Responsible option avoids investments in fossil fuels, tobacco and gambling while actively choosing to invest in clear energy, waste reduction and recycling, green building, healthcare and education.

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

If you had $50,000 invested in QSuper Socially Responsible, you'd be charged $225 in fees for the year.

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 performance of Sunsuper Socially Conscious Balanced:

  • 1 year: 0.19% p.a.
  • 3 years: 5.54% p.a.
  • 5 years: 5.97% p.a.
Mobile appThe QSuper app has a 4.5-star rating from users in the Google Play Store and a 4.6-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.
Join nowQSuper
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Sunsuper
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How do the default MySuper products compare?

The two default MySuper options are QSuper Lifetime and Sunsuper Lifecycle. Both these funds are pre-mixed, life-stage funds. In comparison to a standard balanced fund (for example AustralianSuper Balanced), which invests in the same way for all members regardless of age, a life-stage fund adjusts the investment mix according to your age. Life-stage funds will have a higher allocation towards growth assets like shares while you're young and then gradually reduce your exposure to shares as you get older to help manage your risk.

The QSuper Lifetime fund is split into four age groups, with the investment mix adjusted for each different group. In comparison, the Sunsuper Lifecycle fund is split into three age groups.

How do their fees and performance figures compare?

Looking at the default MySuper options, both funds have delivered similar returns over the past three to five years. QSuper charges lower fees than Sunsuper and is actually one of the cheapest MySuper products available in the market. That being said, Sunsuper is also a relatively low-fee option compared to some other MySuper products in the market.

How do the ethical investment options compare?

Both QSuper and Sunsuper offer a pre-mixed, ethical investment option as an alternative choice to their default MySuper funds. These funds are QSuper Socially Responsible and Sunsuper Socially Conscious Balanced.

Both these funds avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. Both funds list their fund holdings on their website for you to see exactly which companies they invest in. Sunsuper Socially Conscious Balanced is certified by the Responsible Investment Association Australasia, which is a leading independent investment body for responsible investment in Australia and New Zealand. QSuper Socially Responsible does not have this certification.

Both these ethical investment options have a similar level of risk, with about 70% allocation to growth assets and about 30% in defensive assets. Sunsuper Socially Conscious Balanced has delivered slightly higher returns than QSuper Socially Responsible over the past 5-, 7- and 10-year periods. However, QSuper Socially Responsible charges much lower fees: they're almost half that of Sunsuper Socially Conscious Balanced.

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 a lot more investment options to choose between than QSuper (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, QSuper offers four. If you're looking for pre-mixed, indexed investment options, this is only offered with Sunsuper and not QSuper.

If you want to build your own portfolio by selecting individual asset classes yourself, Sunsuper again offers a lot more choice. Sunsuper has 11 single asset classes to choose between, while QSuper only offers 4. The main difference here is that Sunsuper offers indexed individual asset options, like Australian shares (indexed), international shares (indexed) and property (indexed), while QSuper does not. QSuper also offers no property single asset class options.

Want to keep comparing?

If you're not yet convinced that either QSuper 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.

More guides on Finder

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