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Best super funds Australia

We've analysed 50+ super funds to find you some of the best picks across ethical funds, industry funds and best funds for customer satisfaction.

Best Low Fee Super Fund
Finder Award
An industry super fund open to all Australians with over 1.7 million members. Hostplus has delivered strong long-term performance and charges below average fees.
Best Conservative Fund
Finder Award
HESTA offers above-average 10-year returns on its conservative investment option. Members also have the ability to speak to a Super Adviser at no cost.
Best Balanced Fund
Finder Award
Certified by the Responsible Investment Association Australasia, this option from Aware Super excels in long-term returns with a target split of 75% growth assets and 25% defensive assets.
1 - 16 of 41
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.) More info
Hostplus Balanced
Industry fund
Last 1 year performance (p.a.)
+8%
Last 3 year performance (p.a.)
+10%
Last 5 year performance (p.a.)
+6.89%
Last 10 year performance (p.a.)
+8.93%
Fees on $50k balance (p.a.)
$606
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Industry fund
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
Australian Ethical Super Balanced
Green CompanyEthical
Last 1 year performance (p.a.)
+9.53%
Last 3 year performance (p.a.)
+6.73%
Last 5 year performance (p.a.)
+6.71%
Last 10 year performance (p.a.)
+7.56%
Fees on $50k balance (p.a.)
$603
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Fund CategoryRetail
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
HESTA Balanced Growth
Industry fund
Last 1 year performance (p.a.)
+9.59%
Last 3 year performance (p.a.)
+8.61%
Last 5 year performance (p.a.)
+6.56%
Last 10 year performance (p.a.)
+8.02%
Fees on $50k balance (p.a.)
$477
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
Virgin Money Super - LifeStage Tracker
LifestageHigher risk
Last 1 year performance (p.a.)
+13.07%
Last 3 year performance (p.a.)
+8.72%
Last 5 year performance (p.a.)
+6.98%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$346
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Fund CategoryRetail
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeHigh growth
AustralianSuper - Balanced
Industry fund
Last 1 year performance (p.a.)
+8.23%
Last 3 year performance (p.a.)
+8.25%
Last 5 year performance (p.a.)
+6.75%
Last 10 year performance (p.a.)
+8.61%
Fees on $50k balance (p.a.)
$382
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
UniSuper Balanced
Industry fund
Last 1 year performance (p.a.)
+10.34%
Last 3 year performance (p.a.)
+7.54%
Last 5 year performance (p.a.)
+6.63%
Last 10 year performance (p.a.)
+8.37%
Fees on $50k balance (p.a.)
$351
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Industry fund
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
Australian Retirement Trust - Growth
Higher risk
Last 1 year performance (p.a.)
+11.96%
Last 3 year performance (p.a.)
+11.95%
Last 5 year performance (p.a.)
+8.36%
Last 10 year performance (p.a.)
+9.53%
Fees on $50k balance (p.a.)
$587
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeHigh growth
Virgin Money Super Indexed Australian Shares
Indexed investmentHigher risk
Last 1 year performance (p.a.)
+14.74%
Last 3 year performance (p.a.)
+11.09%
Last 5 year performance (p.a.)
+7.58%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$388
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Fund CategoryRetail
Insurance
  • Death
  • TPD
DiversificationSingle asset class
Investment TypeHigh growth
HESTA High Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+12.58%
Last 3 year performance (p.a.)
+11.27%
Last 5 year performance (p.a.)
+8.3%
Last 10 year performance (p.a.)
+9.46%
Fees on $50k balance (p.a.)
$557
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Industry fundHigher risk
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
Australian Ethical Super Growth
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+11.43%
Last 3 year performance (p.a.)
+8.37%
Last 5 year performance (p.a.)
+7.44%
Last 10 year performance (p.a.)
+8.33%
Fees on $50k balance (p.a.)
$733
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Green Company
EthicalHigher risk
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Fund CategoryRetail
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
UniSuper Conservative Balanced
Industry fund
Last 1 year performance (p.a.)
+5.5%
Last 3 year performance (p.a.)
+4.72%
Last 5 year performance (p.a.)
+4.51%
Last 10 year performance (p.a.)
+6.19%
Fees on $50k balance (p.a.)
$366
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeModerate
Australian Retirement Trust - Lifecycle Balanced Pool
Lifestage
Last 1 year performance (p.a.)
+9.88%
Last 3 year performance (p.a.)
+9.51%
Last 5 year performance (p.a.)
+6.98%
Last 10 year performance (p.a.)
+8.4%
Fees on $50k balance (p.a.)
$547
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeBalanced
Australian Ethical Super International Shares
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+17.56%
Last 3 year performance (p.a.)
+11.1%
Last 5 year performance (p.a.)
+9.53%
Last 10 year performance (p.a.)
+10.04%
Fees on $50k balance (p.a.)
$643
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Green Company
EthicalHigher risk
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Fund CategoryRetail
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationSingle asset class
Investment TypeHigh growth
UniSuper Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+12.51%
Last 3 year performance (p.a.)
+8.62%
Last 5 year performance (p.a.)
+7.1%
Last 10 year performance (p.a.)
+9.17%
Fees on $50k balance (p.a.)
$426
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Industry fundHigher risk
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
Australian Ethical Super Australian Shares
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+12.87%
Last 3 year performance (p.a.)
+10.19%
Last 5 year performance (p.a.)
+8.75%
Last 10 year performance (p.a.)
+10.97%
Fees on $50k balance (p.a.)
$778
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Green Company
EthicalHigher risk
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Fund CategoryRetail
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationSingle asset class
Investment TypeHigh growth
UniSuper High Growth
Industry fundHigher risk
Last 1 year performance (p.a.)
+13.98%
Last 3 year performance (p.a.)
+10.14%
Last 5 year performance (p.a.)
+8.14%
Last 10 year performance (p.a.)
+10.33%
Fees on $50k balance (p.a.)
$411
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Industry fundHigher risk
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
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Showing 16 of 41 results

The information in the table is based on data provided by Chant West Pty Ltd (AFSL 255320) which is itself supplied by third parties. While such information is believed to be accurate, Chant West does not accept responsibility for any inaccuracy in such information. Chant West’s Financial Services Guide is available at https://www.chantwest.com.au/financial-services-guide . Finder offers no guarantees or warranties about the data and we recommend that users make their own enquiries before relying on this information. Performance, fees and insurance data is based on each fund's default MySuper product. Where the performance, fees and insurance data for the MySuper fund vary according to the member's age, results for individuals between 40-49 years of age have been shown. Past performance is not a reliable indicator of future performance.

*Past performance data is for period ending June 2023 and fee data is updated monthly.

How to pick the best super fund

Generally, to compare super funds, look at the following features:

  • A history of high long-term returns (funds with 10-year returns above 7% p.a. are among the top performers )
  • Low fees (aim for annual fees less than 1.5% of your super balance)
  • An investment strategy that aligns with your age, risk tolerance, goals and personal values

You should also consider the following:

Your age

If you're young (under 45), you might want a super fund that has a bit more exposure to high-growth assets like shares and property. These assets offer higher capital growth over the long term so are best for members with a long timeframe. Once you get into your 50s, you might want to gradually reduce your exposure to high-risk growth assets (although you don't need to).

Your risk tolerance

Regardless of your age, you should invest your super in a fund that aligns with your personal risk tolerance. If having the majority of your super invested in high-risk assets like shares is going to keep you awake at night, you might want to consider a balanced fund instead of a high-growth fund. If you're happy taking on more risk and it's not going to cause you anxiety, a high-growth option might be suited to you.

Your investment preferences

There are specialty funds that suit investors with particular preferences, for example funds that focus on technology investments or international shares.

Your personal values

If you don't want your super to be invested in industries like coal, fossil fuels, animal cruelty or ammunition manufacturing, you may want to consider an ethical super fund.

What's the best performing super fund in Australia?

Hostplus Balanced has the best performance over the past 10 years with an average annual return of 8.9%. AustralianSuper Balanced is a close runner up with an average annual return of 8.6%, and Australian Retirement Trust Balanced with 8.4% p.a.

The table below uses performance data for the period ending June 2023. It looks at balanced funds only - balanced funds are those with 60-80% allocation towards growth assets like shares, and it's where the majority of Australians have their super invested.

All of these top 10 best performing funds are industry super funds, not retail funds.

Top 10 best performing Australian super funds

Super fundAverage 10-year return
Hostplus Balanced8.9% p.a.
AustralianSuper Balanced8.6% p.a.
Australian Retirement Trust - Balanced8.4% p.a.
UniSuper Balanced8.4% p.a.
Cbus Growth (MySuper)8.3% p.a.
Vision Super Balanced Growth8.1% p.a.
CareSuper Balanced8.0% p.a.
HESTA Balanced Growth7.9% p.a.
Aware Super Balanced7.8% p.a.
Spirit Super Balanced7.5% p.a.

Which super fund has the lowest fees?

The super funds with the lowest fees are all single sector investment options. This is because they only invest in one asset class, rather than diversified options (such as balanced funds) which invest in many different asset classes.

Using the data in our comparison table, the super fund product with the lowest fees is QSuper International Shares with annual fees of just 0.31%. Other funds with low fees include: AMIST Shares with fees of 0.34%; Aware Super Australian Shares with fees of 0.36%; and Mine Super International Shares with fees of 0.36%.

If we just look at balanced funds instead, those with the lowest fees include: Bendigo SmartStartSuper Balanced Index with annual fees of 0.66%; UniSuper Balanced with annual fees of 0.67%; AMIST Balanced with fees of 0.73%; and AustralianSuper Balanced with fees of 0.76%.

What's the highest performing super fund in 2023?

The super funds with the highest returns for 2023 are all single sector investment options that invest entirely in shares. These investment options have returned over 20% for members over the 12 months to June 2023.

Mine Super's International Shares option was the top-performer over the financial year with a return of 22.77%. Some other high-performing funds include: Virgin Money Super Indexed Overseas Shares with a return of 21.49%; Aware Super International Shares with 20.72%; and Australian Retirement Trust International Shares Index (unhedged) with 20.37%.

Although these funds have achieved outstanding high returns over the past year, they're all very high risk investment options as they invest exclusively in international shares. The recent financial year was a good one for the share market, but it's important to remember that when there's a market fall, these options would be likely to instead make a negative return. Over the long term (10 years), these funds have all achieved annual average returns of between 10-12% p.a.

Methodology: How we choose our top super fund picks

We regularly look at the super funds in our database to determine which are the best offers for a range of different purposes. Specifically, here's how we determine each of our top pick recommendations:

Why it's important to make sure you're with a great super fund

Each year the regulator APRA analyses the market and identifies the worst super funds, which are underperforming for members. According to APRA data, in 2022 there were 350,000 fewer people in default super products with terrible investment performance compared to 2021, which is great news.

However, APRA data also shows that 800,000 people still have their super invested with an underperforming fund. If you haven't checked your fund in a few years, you could be one of them.

You can use Finder's superannuation calculator to see an estimate of your retirement balance based on your current fund, versus if you switched to a different fund with better returns or lower fees.

Frequently asked questions about picking a super fund

Why you can trust Finder's super fund experts

free

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.
expert advice

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.
independent

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.
help

We're here to help

Since 2017, we've helped over 200,000 people find a super fund by comprehensively comparing funds. We'll never ask for your personal information. We're here to help you make a decision.

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26 Responses

    Default Gravatar
    S.AJuly 12, 2023

    As a self employed, am I by law required to have a super fund? At 50, contemplating on starting a superannuation fund, plus paying for a 30 year mortgage, is there a table showing approximately returns on what amount is put in… Are there previous charts on what is put in and what is the outcome after 10/ 20 years?

      AvatarFinder
      SarahJuly 13, 2023Finder

      Hi there,

      When you are self-employed there is no legal requirement to pay yourself superannuation. However, there may be some tax advantages of doing so, not to mention the benefit of investment returns.

      We’re not licenced to offer personal advice, but this calculator can help you understand how much you might be able to generate through super (in the employer contributions section, enter the percentage that you are considering paying):
      https://www.finder.com.au/superannuation-calculator

      Also, here is some more information about superannuation for self-employed Australians:
      https://www.finder.com.au/superannuation-for-self-employed-workers

      Hope this helps!

    Default Gravatar
    rachaelJune 27, 2023

    i have a 15 year old who is working. what is the best super fund for teenagers?

      AvatarFinder
      RajJune 27, 2023Finder

      Hi Rachel,

      We won’t be able to recommend any specific super fund products for your son. However we have written what to look for when selecting a suitable fund here

      Thanks
      Raj

    Default Gravatar
    NavidJune 2, 2023

    Hi, I am looking for the best returning super fund taking into account as is stated on your website the fees, how the fund invests your money and if it aligns with your risk appetite which is high growth. The difficulty I am having is comparing high growth as the definition/asset class and the weightings between different super funds can vary so we are not comparing apples to apples. Currently I am with an industry fund and find since they run a lot of ads, fund profits/fees are eaten by the ads so I am looking for other type of funds that are also transparent. Thank you

      AvatarFinder
      AlisonJune 22, 2023Finder

      Hi Navid, Finder is a comparison site and we aren’t licensed to give you any personal advice or product recommendations. You can use our comparison table to compare high growth options, by using the filters on the side: https://www.finder.com.au/super-funds
      Hope this helps. Thanks,
      Alison

    Default Gravatar
    MariaMay 20, 2023

    Hi, I’m an international student (my plan is to get a PR eventually), and I am about to start 2 casual jobs; I do not know how to choose which is better for my situation. Could you please assist me with that?

    Thank you.

      AvatarFinder
      AlisonMay 22, 2023Finder

      Hi Maria, we aren’t licensed to offer you any personal financial advice or product recommendations. In general when choosing a super fund it’s best to look for a fund that has a combination of low annual fees and a history of high long-term returns. If you’d like some personal recommendations it’d be best to speak to a financial adviser who can give you recommendations for your situation. Thanks, Alison.

    Default Gravatar
    BarbMay 15, 2023

    If the fees charged by on a Pension account are a percentage of your balance, how do you lose money by having more than one account?

      AvatarFinder
      AlisonMay 16, 2023Finder

      Hi Barb, usually super funds charge a dollar based fee as well as a percentage based fee.

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