Super fund performance: Top performers this decade 

Super fund performance explained

All super funds invest your money differently, so their performance returns will differ too. Super funds also offer a wide range of different investment options that are broadly categorised into different risk levels.

The super investment option you select will have a big impact on your returns. Across all super investment options, from the very low risk to extremely high risk, the average annual return over the past decade is 5.70% p.a. However, the top-performers have annual returns over 8% p.a.

1 year vs 10 year super performance

Super funds will show their performance returns for different time periods, usually 1, 3, 5, 7 and 10 year performance periods.

Superannuation is a long-term investment, so it's best to look at their 10 year returns when comparing funds. This will offer a more accurate picture of how the fund performs over the long term and across different market conditions.

Top-performing super funds

Let's take a look at the top 10-performing super funds across different risk levels. You'll notice that the majority of the top-performers are industry super funds.

Balanced super fund performance

Balanced super funds are where a large number of Australians have their super invested. They're most often the default MySuper option for members. Unless you select an alternative investment option offered by your fund, you'll be invested in the fund's default option.

These super investment options are designed to suit the majority of members across all ages. They allocate around 60-76% of the fund's balance into growth assets like shares, with around 25-40% invested into defensive assets.

Here are the 10 Balanced super funds with the highest 10-year performance returns, as of March 2025.

Growth super fund performance

Most super funds offer a diversified, high growth investment option for members looking to take on a bit more risk for the potential of higher returns. These super investment options allocate around 77-90% of the fund's balance into growth assets like shares, with just 10-25% invested into defensive assets.

Here are the 10 Growth super funds with the highest 10-year performance returns, as of March 2025.

Expert insight

"It's really important to set your super into a growth-orientated strategy instead of a balanced or low-risk one. This allows you to make the most of that time you've got ahead of you. If you're getting even just an extra 1% return by taking more risk investing in growth assets, that's compounding over decades and will make tens of thousands of dollars difference to your retirement balance."

Karen Eley

Editorial Review Board

Conservative super fund performance

Conservative investment options aim to invest fairly evenly in growth and defensive assets. These are designed for members looking for some growth, with minimal volatility and risk. They're designed for people with a shorter investment timeframe, for example pre-retirees.

Here are the 10 Conservative super funds with the highest 10-year performance returns, as of March 2025.

Top super fund performance for 2025

The top-performing super investment options so far this year are all single asset class options that invest entirely in shares.

These options are incredibly volatile because they're investing your super into just one asset class. While shares offer the most growth potential over the long-term, they can also experience the sharpest falls in the short-term when the market is unhappy.

Here are 5 of the top-performing super investment options and their 1 year return:

• Perpetual WealthFocus - Barrow Hanley Global Shares: 14.11% p.a.
• Legalsuper Overseas Shares: 13.59% p.a.
• Superhero Super - International Shares: 11.62% p.a.
• Hostplus International Shares Indexed: 11.38% p.a.
• Virgin Money Super Indexed Overseas Shares: 11.33% p.a.

Factors that impact super fund performance

Market performance

Super funds invest heavily into shares, property and infrastructure. When the sharemarket is down during times of market volatility and market crashes, this will negatively impact the super fund's returns and your super balance may fall. When the sharemarket is doing well, so too will your super.

Asset allocation

The different asset classes that your super is invested in will have a big impact on your fund's returns. For example, funds that invest heavily into shares will likely achieve higher returns over the long term but with a bit more volatility along the way.

There's also the type of shares that the fund chooses to invest in, too. For example, one fund might invest heavily into high-risk, high-growth technology shares while another might invest in more stable blue-chip shares.

Investment type

You can choose to invest your super into a pre-mixed, diversified investment option that invests in a range of different asset classes (this is what the majority of people do). Or, you can choose to invest your super entirely into one asset class (for example 100% in shares or property).

The single-asset class options will be higher-risk, as they don't have the safety cushion of diversification, but they may also offer higher long-term returns.

Fund managers

The investment managers at each super fund are responsible for analyzing different investment options and deciding how to invest the fund's money. The expertise of the fund manager will impact how the fund performs.

"I ignored my super balance for years.Then I consolidated funds and switched from my default balanced option to a higher growth, higher risk option. This suits me because I am decades from retirement, so I can handle some volatility. And growth is my main objective. I only wish I'd done it earlier in life!."

Richard Whitten

Money Editor

Frequently asked questions

• What is the best performing super fund at the moment?

  The best performing super funds right now are those that invest heavily into shares - such as single asset class shares options. This is because global share markets are performing well.

• Why has my super balance dropped?

  Your super balance may have dropped due to the investments your super holds falling in value. This is common when the global share market is down, and isn't a cause for great concern. It's more important to look at your fund's long-term performance over a 10 year period.

• Which super fund is the best performer?

  The best performing super funds over the last 10 years include Australian Retirement Trust - Super Savings - High Growth, Hostplus - Growth, Cbus - High Growth, Hesta growth and AustralianSuper High Growth.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 651 Finder guides across topics including:

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