Compare Super Funds: Better Performance, Lower Fees

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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.)
Spaceship - GrowthX Higher risk	Last 1 year performance (p.a.) +19.41%	Last 3 year performance (p.a.) +5.34%	Last 5 year performance (p.a.) +10.81%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $711	Go to site More Info Compare	A high growth super fund with a big focus on international shares.
Virgin Money Super - LifeStage Tracker Lifestage	Last 1 year performance (p.a.) +13.13%	Last 3 year performance (p.a.) +6.08%	Last 5 year performance (p.a.) +7.58%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $346	Go to site More Info Compare	Your fund's asset allocations adjust automatically as you age, offering you more growth opportunity when you're younger and lower-risk investments as you approach retirement.
AMP Super MySuper Lifestages 1970s Lifestage	Last 1 year performance (p.a.) +11.14%	Last 3 year performance (p.a.) +4.98%	Last 5 year performance (p.a.) +6.76%	Last 10 year performance (p.a.) +7.57%	Fees on $50k balance (p.a.) $506	Go to site More Info Compare	A lifestage super fund with an investment mix designed for Australians born in the 1970s.
Spaceship - GrowthX Higher risk	Last 1 year performance (p.a.) +19.41%	Last 3 year performance (p.a.) +5.34%	Last 5 year performance (p.a.) +10.81%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $711	Go to site More Info Compare
Virgin Money Super - LifeStage Tracker Lifestage	Last 1 year performance (p.a.) +13.13%	Last 3 year performance (p.a.) +6.08%	Last 5 year performance (p.a.) +7.58%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $346	Go to site More Info Compare
AMP Super MySuper Lifestages 1970s Lifestage	Last 1 year performance (p.a.) +11.14%	Last 3 year performance (p.a.) +4.98%	Last 5 year performance (p.a.) +6.76%	Last 10 year performance (p.a.) +7.57%	Fees on $50k balance (p.a.) $506	Go to site More Info Compare
Australian Retirement Trust - High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +11.35%	Last 3 year performance (p.a.) +7.6%	Last 5 year performance (p.a.) +8.8%	Last 10 year performance (p.a.) +9.28%	Fees on $50k balance (p.a.) $542	Go to site More Info Compare
Hostplus Indexed Balanced Industry fund	Last 1 year performance (p.a.) +12.18%	Last 3 year performance (p.a.) +5.93%	Last 5 year performance (p.a.) +7.19%	Last 10 year performance (p.a.) +7.71%	Fees on $50k balance (p.a.) $136	Go to site More Info Compare
Vanguard Super SaveSmart - High Growth Higher risk	Last 1 year performance (p.a.) +13.18%	Last 3 year performance (p.a.) N/A	Last 5 year performance (p.a.) N/A	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $270	Go to site More Info Compare
CFS FC MySuper - Lifestage 1985-89 LifestageHigher risk	Last 1 year performance (p.a.) +14.86%	Last 3 year performance (p.a.) +6.17%	Last 5 year performance (p.a.) +7.16%	Last 10 year performance (p.a.) +7.75%	Fees on $50k balance (p.a.) $375	Go to site More Info Compare
Aware Super High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +10.86%	Last 3 year performance (p.a.) +5.85%	Last 5 year performance (p.a.) +8.16%	Last 10 year performance (p.a.) +8.83%	Fees on $50k balance (p.a.) $497	Go to site More Info Compare
UniSuper - Sustainable High Growth Finder AwardIndustry fundEthicalHigher risk	Last 1 year performance (p.a.) +15.2%	Last 3 year performance (p.a.) +5.38%	Last 5 year performance (p.a.) +9.28%	Last 10 year performance (p.a.) +9.98%	Fees on $50k balance (p.a.) $321	Go to site More Info Compare
HESTA Balanced Growth Industry fund	Last 1 year performance (p.a.) +9.1%	Last 3 year performance (p.a.) +5.5%	Last 5 year performance (p.a.) +6.93%	Last 10 year performance (p.a.) +7.62%	Fees on $50k balance (p.a.) $477	Go to site More Info Compare
CFS FC MySuper - Lifestage 1975-79 Lifestage	Last 1 year performance (p.a.) +14.41%	Last 3 year performance (p.a.) +5.91%	Last 5 year performance (p.a.) +6.95%	Last 10 year performance (p.a.) +7.64%	Fees on $50k balance (p.a.) $380	Go to site More Info Compare
Australian Retirement Trust - International Shares Index (unhedged) Finder AwardIndustry fundIndexed investmentHigher risk	Last 1 year performance (p.a.) +17.01%	Last 3 year performance (p.a.) +9.46%	Last 5 year performance (p.a.) +11.43%	Last 10 year performance (p.a.) +12.08%	Fees on $50k balance (p.a.) $187	Go to site More Info Compare
Hostplus Australian Shares Industry fundHigher risk	Last 1 year performance (p.a.) +9.83%	Last 3 year performance (p.a.) +6.5%	Last 5 year performance (p.a.) +8.23%	Last 10 year performance (p.a.) +8.98%	Fees on $50k balance (p.a.) $426	Go to site More Info Compare
Vanguard MySuper - Lifecycle Age 47 and under Lifestage	Last 1 year performance (p.a.) +13.2%	Last 3 year performance (p.a.) N/A	Last 5 year performance (p.a.) N/A	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $280	Go to site More Info Compare

Showing 17 of 54 results

Unless indicated otherwise, the information in the table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445.

*Past performance data and fee data is for the period ending June 2024

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How to compare super funds

If you're looking for best super fund, there are 6 features to look for: low fees, high performance over the long term, a suitable investment strategy for your life stage, risk aversion and values, and suitable life cover.

Low fees

The lower the fees the better, as higher fees will eat into your investment returns. A general rule of thumb is to make sure the fees are less than 1% of the value of your super balance per year (so for a $50,000 balance, annual fees around $500 or less are relatively low).

High long-term performance

Look at the 5- and 10-year performance returns instead of only looking at the past year's performance. Super is a long-term investment, so you want a fund that has consistent, strong performance over the long term rather than a one-off good year.

An investment strategy that suits your age

Generally, you should invest in more high-risk growth assets (like shares) while you're young because you have plenty of time to ride out any short-term market falls. If you're young and want to take on more risk, compare high-growth investment options.

An investment strategy for your risk appetite

Some funds offer life-stage investment options, meaning they'll adjust your investments for you as you get older so you're not taking on too much risk. Others will offer pre-mixed options based on certain risk levels and regardless of age, e.g. balanced, conservative or high growth. Think about which option works best for you before comparing.

An investment approach that aligns with your values

According to Finder data, 43% of Australians are interested in their super being invested ethically. If you're passionate about investing ethically and want to exclude certain industries such as fossil fuels or tobacco, choose a fund that offers a sustainable or ethical investment option.

Insurance cover for your needs

Most funds will offer a default level of cover for death and TPD insurance automatically when you join. If you need more cover, for example, income protection, check if the fund offers it before joining. Take a look at the fund's PDS to understand the default level of cover offered and the cost.

You might decide that you don't need insurance cover at all. According to our analysis, you can save $22 per year and over $10,000 by the time you retire on average by switching to a fund without insurance cover.

2 types of super funds

You have a few choices to make with types of super funds, the first being whether you want an industry super fund or retail super fund:

Industry super funds: These not-for-profit funds were often originally reserved for workers in a particular industry, but are now open to all Australians. These funds are owned and run by members, with profits going back into the fund. Some will still offer certain features for people in a particular sector. For example, Cbus is the industry fund for building and construction workers and offers tailored insurance cover to suit these manual, high-risk jobs. However, you're not required to join the super fund aligned with your industry.
Retail super funds: These funds are often owned by a bank, insurance provider or another type of large financial institution. They often offer easy access to other financial products and services, such as financial advice and insurance. Profits are distributed among shareholders as well as put back into the fund. Some examples are BT Super (owned by Westpac), Colonial First State (owned by CommBank) and Australian Ethical Super.

How to choose the right super fund for you

If you're under 35

Because you have so much time on your hands, it's generally recommended you invest via a high-growth investment option. Shares can be volatile in the short term but continue to perform exceptionally well over the long term.

If you're 35–55

You still have 10–30 years before retirement, which is still plenty of time to stay invested in a high-growth option. As you get closer to 50 you may have a lower risk tolerance and could consider gradually reducing your exposure to shares by switching to a balanced investment option.

If you're over 55

As you get closer to retirement it's generally advised to have a more balanced mix of investments. Your super will stay invested for many years even after you turn 55 so it's important to have some exposure to shares so your balance continues to grow, but you might not want all your balance invested in shares.

Remember, there's no set rule for how you should invest based on your age alone, these are just some general ideas to get you started.

What investment options are there?

Once you decide on a super fund to join you can also decide how you want your super to be invested. When you join a super fund you'll initially be placed in its default product option which is called the MySuper product (usually this is the balanced option).

This is the standard super investment option that is designed to suit most members and it's where the majority of Australians have their super invested.

Other super investment options are usually based on risk level and asset class, for example:

Conservative: This option will invest in more defensive, low-risk assets like cash and bonds. It's designed to protect your balance, rather than achieve high returns.
Balanced or growth: A balanced or growth option offers a more even mix between defensive and growth assets, but it'll still skew more towards growth assets.
High growth: These options invest heavily in shares and are more high-risk in the short term, but usually achieve better returns over the long term.
Single sector options: Unlike the previous 3 options which are diversified funds, single sector investment options will invest entirely into one asset class such as shares.

Some funds offer an ethical investment option, too.

Single sector options vs mixed fund options

Mixed or diversified investment options – such as balanced, growth and high growth options – invest in a variety of different asset classes. A typical mixed fund will invest in Australian shares, international shares, property (listed, residential and commercial), private equity, unlisted assets (such as infrastructure), fixed interest and cash.

Single sector investment options will instead invest entirely in one particular asset class. For example, if you wanted to, you could choose an Australian shares single sector option and invest 100% of your super balance in Australian shares.

Investing your whole super balance into just one single sector option is very high risk because you're putting all your eggs in one basket. If you like the idea of investing into single sector options and having a bit more control over how your super is invested, you can split your balance up between various single sector options. Or, you could also choose to split your super balance up between a mixed fund and a single sector option (or a few!).

In terms of fees, single sector options are much lower cost. For example, AustralianSuper Balanced has annual fees of 0.76% of your balance, while AustralianSuper Australian Shares has annual fees of just 0.42%.

How different super investment options perform

Typically you can expect a high growth option to achieve better returns over the long term compared to a balanced or conservative option. However, they can also experience more volatility in the short term as having increased exposure to shares makes them more vulnerable when there's a market fall.

Executive director at SuperRatings Kirby Rappell said high growth options are generally recommended for younger people with a long investment timeframe, as you have plenty of time to recover from short-term market falls.

"If you are not approaching or in retirement, keep in mind that all market movements in the short term are not likely to be what you are thinking about when you retire in 20 or 30 years' time."

As you can see from the table below, over the past decade balanced funds have achieved an average return of 7.21% p.a., while high growth funds have achieved 8.80% p.a.

When looking at high growth single sector options (such as funds that invest exclusively in shares), the average return over the past year is much higher than that of balanced funds - 10.13% versus 9.21%. This is because the share market has had a strong year. When you look at the average return of these options over the past decade they're much closer, 6.48% p.a. versus 7.21% p.a., although the balanced options have performed better (as you'd expect).

Investment option	Average 1-year return	Average 5-year return	Average 10-year return
Balanced	9.21%	6.72%	7.21%
High growth	13.35%	8.49%	8.80%
Conservative	5.85%	3.16%	3.72%
Single Sector (High growth)	10.13%	5.99%	6.48%

Data is supplied by Super Rating and relates to the performance period ending May 2024.

Our expert says

"You don't need to choose an investment option when you join a new fund if you don't want to. The default options are designed to suit most people, and many are among the top-performing funds each year. If you do want to change your super investment option later, you can do this easily by logging in to your account online or via the fund's mobile app."

Alison Banney

Editor

Why should you compare super funds?

According to Finder data, Australians are more likely to have a savings account than a superannuation fund (82% compared to 68%).

For those of us with a fund, 58% of Australians are with the super fund that their employer chose for them and almost half (48%) of us have stuck with the same super fund for our whole life so far.

But what if the fund your employer chose isn't great?

According to APRA's review into super funds published last year, 80 investment options were found to have significantly poor investment returns and a further 48 options had significantly high admin fees.

If you're stuck in one of these funds, it could cost you hundreds of thousands of dollars by the time you retire.

According to Finder data released in October 2023, 23% of Aussies say they don't have enough in their super fund or investments to retire on. Worryingly, that number is even higher for women with 27% admitting that won't have sufficient super or investments for their retirements.

"Right around the time I joined Finder I switched all my super over to a new provider, after more than a decade. My new fund offers better projected returns, better features and better reputation. So remember – super funds are not all created equal. There are different levels of service, insurance and of course, returns. So make sure you're happy with the outcomes you're getting."

Tom Goodwin

Editor

Compare super fund fees for large balances

Most super funds outline their annual fees in their PDS based on a set balance of $50,000. Our comparison table above also shows the annual fees based on this balance to allow you to properly compare.

However, the fees can change quite significantly if you've got a larger balance above $50,000. Take a look at the annual fees charged on larger balances by these 10 popular super funds.

	$100K Balance	$300K Balance	$500K Balance	$1M Balance
AustralianSuper - Balanced	$712	$2,032	$3,202	$6,002
UniSuper Balanced	$606	$1,626	$2,646	$5,196
Australian Ethical Super Balanced	$1,138	$3,218	$4,918	$9,768
Virgin Money Super - LifeStage Tracker	$635	$1,789	$2,943	$5,828
Australian Retirement Trust - High Growth Pension	$952.40	$2,732.40	$4,512.40	$8,762.40
Aware Super High Growth	$942	$2,722	$4,502	$8,202
HESTA Balanced Growth	$902	$2,602	$4,302	$7,802
QSuper Lifetime - Aspire 1	$770	$2,310	$3,850	$7,075
AustralianSuper High Growth	$702	$2,002	$3,152	$5,902
Hostplus Balanced	$1,104.54	$3,097.54	$5,090.54	$10,073.04

The table shows the super fees for balances for over $50K. Fee data is sourced from Super Rating. The funds have been selected based on the top 10 most popular funds within the Finder database.

Steps to switch funds

1. Choose a new fund. The comparison table above can help you choose a new super fund.
2. Join the new fund. Complete the online application form available on the fund's website.
3. Move your super into your new fund. Just enter the details of your previous fund when you submit the application form and the new fund will arrange for your balance to be transferred over - you don't need to do this yourself.
4. Let your employer know. Let your employer know right away so they can pay your next super guarantee payment to the correct fund.

If you need a bit more help, see our guide on how to change super funds for a detailed process.

Frequently asked questions for super funds

Your superannuation will be used to help fund your retirement. Throughout your working life, a small amount of the money you earn each year will be sent to your chosen super fund (instead of your bank account). The idea is that by putting aside a small chunk of your earnings on a regular basis from the day you start your first job, you should have enough money to live on when you retire.
According to the latest retirement standard by the ASFA, you need around $595,000 in super for a comfortable retirement as a single person, or a collective $690,000 for couples⁷. This is just a guide – you may need more or less than this depending on your lifestyle.
Both single people and couples require a $100,000 super balance for a modest retirement, according to the ASFA.
- Make sure you're in a low-fee, high-performing fund
- Consolidate funds so you only have one in your name
- Consider making additional super contributions
- Consider investing in a high growth option
Local and global share markets have been up over the past year. Because super funds are major investors in global shares, super fund returns have also been up significantly in 2024 so far. However, if you're comparing super funds this year, it's still really important to look at the long-term returns instead of the past year's returns, to get a more accurate picture of the fund's performance.

Why you can trust Finder's super fund experts

You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.

You save time. We spend 100s of hours researching super funds so you can sort the gold from the junk faster.

You compare more. Our comparison tools bring you more super funds from across the market.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Ryan Watson, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editor

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. See full bio

Alison's expertise

Alison has written 645 Finder guides across topics including:

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

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32 Responses

TaniaAugust 30, 2024

Hello.
For the super comparison, is performance per annum net of fees?
Thanks so much,
Tania

Finder

AngusSeptember 16, 2024Finder

Hi Tania, The performance comparison doesn’t show the impact of fees directly, since these will vary depending on your balance and any insurance options you choose. We do show the annual fee on a $50,000 balance to help you compare more effectively.

BJanuary 11, 2024

On your comparison sheet and for the Bendigo Smartstart Super – Growth Index fund it tells me the last 1 year performance has been 8.74%, however, Bendigo in their performance reports for the 30 Nov 2023 is showing 4.84% (being for the period 1/12/2022 – 30/11/2023). I acknowledge that at the bottom of each comparison page you state the past performance data is for the period ending June 2023 ( presumably meaning 1/7/22 – 30/6/2023). Can you please explain the difference when the same Bendigo report for three years shows only 4.58%. https://www.bendigosuperannuation.com.au/globalassets/documents/bendigo-superannuation/reports/bendigo-smartstart-investment-performance-report.pdf

Finder

SarahJanuary 15, 2024Finder

Hi B, We reached out to Bendigo with your question. They stated that the difference in reported returns is due to market volatility and strong performance at different times, which reflects a different amount in the 1 year performance from Nov 2023. Hope this clarifies it for you.

GaryDecember 26, 2023

Im looking at the fee difference between Super funds and ETF’s some etfs charge a (mer )of 0.03%where super funds charge 0.75 to1.25% ????why would i stay with a super fund ????

Finder

SarahJanuary 31, 2024Finder

Hi Gary,

Yes the fees and charges from different super funds can vary, along with the insurance products they offer, their performance and the types of investment funds they offer. Some people are happy to pay higher fees because it aligns with their values (eg. eco-funds), because they are happy with the fund’s performance and okay paying a higher fee, or sometimes people pay too much in fees because they don’t realise there’s better value available.

FrankDecember 2, 2023

If i select a strategy that holds ETFs in my super fund, will I pay lower fees? Do you have any info on this?

Finder

RichardJanuary 9, 2024Finder

Hi Frank,

This is a difficult question to answer as it depends on what kind of fee costs you’re comparing to. By holding ETFs within your super fund, you’re paying both the ETF management fee and the super fund’s fees.

This will probably cost you more in fees than an indexed super fund (typically a lower fee option).

But if you’re comparing holding ETFs in your super fund to, say, an actively managed fund it might be cheaper. Actively managed funds tend to have higher fees, and many studies have shown that passively managed index funds and ETFs typically perform better.

FrankNovember 17, 2022

How does Brighter. super (prev. LGIA super) compare.

Finder

AnneNovember 22, 2022Finder

Hi Frank,

Thank you for getting in touch with Finder.

The information for Brighter Super is unavailable on this page as of this writing. We have a dedicated discussion on Brighter Super that will allow you to assess and review their features, performance, fees and more. You may also contact them for related inquiries at 1800 444 396.

I hope this helps.

Thank you, and have a wonderful day!

Cheers,

Anne

Compare super funds for a super retirement