Sunsuper vs HESTA: Which super fund is right for you?
We've compared the fees, investment options and performance for both Sunsuper and HESTA to help you choose between these two popular super funds.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Sunsuper and HESTA are both member-owned super funds which are open to all Australians to join.
Sunsuper 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.
| Sunsuper | HESTA | |
|---|---|---|
| Type of fund | Industry super fund | Industry super fund with a focus on the healthcare sector |
| Number of members | 1.4 million members | 860,000 members |
| Funds under management | $68.7 billion | $52.7 billion |
| Default investment option | 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. | HESTA Balanced Growth This is a ready-made investment portfolio with a strong focus on shares, private equity and infrastructure. Unlike Sunsuper Lifecycle, the investment allocation is the same for all members in the HESTA Balanced fund, regardless of age. It's an authorised MySuper product. |
| Performance | Past performance of Sunsuper Lifecycle:
| Past performance of HESTA Balanced Growth:
|
| Fees | Here's how much you'd pay in fees for one year if you had the following amounts invested in Sunsuper Lifecycle:
| Here's how much you'd pay in fees for one year if you had the following amounts invested in HESTA Balanced Growth:
|
| Additional diversified investment options | 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:
| 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:
|
| 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:
| If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
|
| Ethical investment | 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:
If you had $50,000 invested in Sunsuper Socially Conscious Balanced you'd pay annual fees of $463. | The HESTA Sustainable Growth option invests in companies "with above average environmental, social and governance performance". It lists its top 20 holdings on its website. This fund is not certified by the Responsible Investment Association Australasia. Past performance of HESTA Sustainable Growth:
If you had $50,000 invested in HESTA Sustainable Growth you'd pay annual fees of $780.29. |
| Mobile app | 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. | 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. |
How do the default MySuper products compare?
The two default MySuper options are Sunsuper Lifecycle and HESTA Balanced Growth. These two products are very similar; both are authorised MySuper products, both are pre-mixed, diversified funds and both have a similar risk level.
However, Sunsuper Lifecycle is a lifestage fund which adjusts your investment mix in line with your age group. This product will gradually reduce your exposure to growth assets like shares as you get older and closer to retirement, to help minimise your risk of loss and volatility. HESTA Balanced Growth has the same investment mix for all members, regardless of age.
How do their fees and performance figures compare?
Both these funds have delivered very similar returns over the past three and five year periods. Sunsuper's default fund has lower fees than HESTA's default fund, which becomes more apparent on larger balances.
How do the ethical investment options compare?
Both Sunsuper Socially Conscious Balanced investment and HESTA Sustainable Growth avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. However, Sunsuper is certified by the Responsible Investment Association Australasia while HESTA is not.
Both options have similar fees, however HESTA Sustainable Growth has achieved better returns than Sunsuper Socially Conscious Balanced over the short, medium and long term.
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?
HESTA offers five additional pre-mixed portfolio options while Sunsuper offers seven, so you've got more choice with Sunsuper. Both funds offer an indexed fund option, so if you're looking to invest your super in an indexed fund you can do this with either one.
For the individual sector asset class options, again you've got more choice with Sunsuper. It offers 11 individual asset class options while HESTA only offers five. The main difference here is Sunsuper offers several different shares options including indexed, hedged and unhedged options. HESTA doesn't offer an indexed option in its single sector options.
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 Sunsuper 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.
More guides on Finder
-
Ethereum price plummets as crypto industry’s combined market cap drops by 10% within hours
With the total market cap of the crypto sector dropping by a whopping 10% within the last few hours, it seems as though the coming few days could be highly volatile for ETH.
-
Back to school laptops: Buying guide
What are the things to watch out for when buying your child's first laptop?
-
Bitcoin price dips below key level as Russia prepares for a blanket crypto ban
As Russia gets ready to outlaw its local crypto market, BTC could be faced with even greater volatility in the near future.
-
How to watch UFC 270 Ngannou vs Gane online and start time in Australia
Heavyweight stars Fancis Ngannou and Cyril Gane headline UFC 270.
-
Why has the Rio Tinto share price dropped today?
Shares in Rio Tinto have climbed more than 15% in the last month.
-
Today’s ASX top stocks: Stanmore Coal (SMR ↑5.2%), Kelly Partners Group Holdings (KPG ↑3.3%)
Here are the 10 biggest movers on the ASX for Friday 21 January 2022.
-
Beauty Product of the Week: Gisou Honey Infused Leave-In Conditioner
This leave-in conditioner transformed my unwashed mop into silky locks that would make Rapunzel envious.
-
Samsung confirms Galaxy S22 Ultra will be a Note phone
Samsung's next flagship S22 phone will be, in its own less than subtle phrasing, "noteworthy".
-
Top 10 TV shows in Australia this week and where to watch them
A fun superhero series, an epic sci-fi and a dark teen drama are among our top picks this week.
Ask an Expert
