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Best super funds Australia – 5 expert picks

Passionate about ethical investments? Obsessed with performance ratings? We crunched the data.

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 Ethical Fund
Green Company
Australian Ethical has taken home the Finder Green Super Fund of the Year 2020-2023. Its Growth option is designed for members looking to invest ethically but want long term growth potential.
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.
1 - 16 of 437
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
Aware Super Future Saver - MySuper Lifecycle High Growth
Aware Super logo
Industry fundLifestageHigher risk
Last 1 year performance (p.a.)
+11.31%
Last 3 year performance (p.a.)
+6.14%
Last 5 year performance (p.a.)
+8.28%
Last 10 year performance (p.a.)
+8.93%
Fees on $50k balance (p.a.)
$497
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
Vanguard Super SaveSmart - High Growth
Vanguard logo
Higher risk
Last 1 year performance (p.a.)
+14.3%
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
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Fund CategoryRetail
Insurance
DiversificationDiversified
Investment TypeHigh growth
Virgin Money Super - LifeStage Tracker
Virgin Money Super logo
Lifestage
Last 1 year performance (p.a.)
+13.87%
Last 3 year performance (p.a.)
+6.55%
Last 5 year performance (p.a.)
+7.82%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$363
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Fund CategoryRetail
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeBalanced
Australian Retirement Trust - High Growth
Australian Retirement Trust logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+12%
Last 3 year performance (p.a.)
+8.02%
Last 5 year performance (p.a.)
+9.01%
Last 10 year performance (p.a.)
+9.4%
Fees on $50k balance (p.a.)
$517
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeHigh growth
Spaceship - GrowthX
Spaceship logo
Higher risk
Last 1 year performance (p.a.)
+17.89%
Last 3 year performance (p.a.)
+5.89%
Last 5 year performance (p.a.)
+10.56%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$711
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Fund CategoryRetail
Insurance
  • No automatic cover
DiversificationDiversified
Investment TypeHigh growth
Hostplus Indexed Balanced
Hostplus logo
Industry fund
Last 1 year performance (p.a.)
+12.94%
Last 3 year performance (p.a.)
+6.22%
Last 5 year performance (p.a.)
+7.39%
Last 10 year performance (p.a.)
+7.83%
Fees on $50k balance (p.a.)
$153
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
AMP Super MySuper Lifestages 1970s
AMP logo
Lifestage
Last 1 year performance (p.a.)
+11.88%
Last 3 year performance (p.a.)
+5.66%
Last 5 year performance (p.a.)
+7.02%
Last 10 year performance (p.a.)
+7.68%
Fees on $50k balance (p.a.)
$506
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Fund CategoryRetail
Insurance
  • Death
  • TPD
DiversificationDiversified
Investment TypeBalanced
Australian Ethical Super International Shares
Australian Ethical Super logo
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+19.88%
Last 3 year performance (p.a.)
+8.32%
Last 5 year performance (p.a.)
+10.65%
Last 10 year performance (p.a.)
+10.23%
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
CFS FC MySuper - Lifestage 1985-89
Colonial First State logo
LifestageHigher risk
Last 1 year performance (p.a.)
+15.44%
Last 3 year performance (p.a.)
+6.66%
Last 5 year performance (p.a.)
+7.47%
Last 10 year performance (p.a.)
+7.83%
Fees on $50k balance (p.a.)
$375
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Fund CategoryRetail
Insurance
DiversificationDiversified
Investment TypeHigh growth
UniSuper - Sustainable High Growth
UniSuper logo
Finder AwardIndustry fundEthicalHigher risk
Last 1 year performance (p.a.)
+16.11%
Last 3 year performance (p.a.)
+5.45%
Last 5 year performance (p.a.)
+9.15%
Last 10 year performance (p.a.)
+10.01%
Fees on $50k balance (p.a.)
$321
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Finder Award
Industry fundEthicalHigher risk
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
HESTA Balanced Growth
HESTA logo
Industry fund
Last 1 year performance (p.a.)
+9.69%
Last 3 year performance (p.a.)
+5.83%
Last 5 year performance (p.a.)
+7.02%
Last 10 year performance (p.a.)
+7.67%
Fees on $50k balance (p.a.)
$472
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Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeBalanced
Vanguard Super SaveSmart - International Shares
Vanguard logo
Higher risk
Last 1 year performance (p.a.)
+20.29%
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
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Fund CategoryRetail
Insurance
DiversificationSingle asset class
Investment TypeHigh growth
CFS FC MySuper - Lifestage 1975-79
Colonial First State logo
Lifestage
Last 1 year performance (p.a.)
+14.95%
Last 3 year performance (p.a.)
+6.37%
Last 5 year performance (p.a.)
+7.23%
Last 10 year performance (p.a.)
+7.71%
Fees on $50k balance (p.a.)
$380
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Fund CategoryRetail
Insurance
DiversificationDiversified
Investment TypeBalanced
Australian Retirement Trust - International Shares Index (unhedged)
Australian Retirement Trust logo
Finder AwardIndustry fundIndexed investmentHigher risk
Last 1 year performance (p.a.)
+18.92%
Last 3 year performance (p.a.)
+9.67%
Last 5 year performance (p.a.)
+11.86%
Last 10 year performance (p.a.)
+12.55%
Fees on $50k balance (p.a.)
$192
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Finder Award
Industry fundIndexed investmentHigher risk
Go to site
Fund CategoryIndustry
Insurance
  • Death
  • TPD
DiversificationSingle asset class
Investment TypeHigh growth
Hostplus Australian Shares
Hostplus logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+10.4%
Last 3 year performance (p.a.)
+7.33%
Last 5 year performance (p.a.)
+8.35%
Last 10 year performance (p.a.)
+9.05%
Fees on $50k balance (p.a.)
$368
Go to siteMore Info
Industry fundHigher risk
Go to site
Fund CategoryIndustry
Insurance
  • Death
  • TPD
  • Income Protection
DiversificationDiversified
Investment TypeHigh growth
Vanguard MySuper - Lifecycle Age 47 and under
Vanguard logo
Lifestage
Last 1 year performance (p.a.)
+14.29%
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 siteMore Info
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Fund CategoryRetail
Insurance
DiversificationDiversified
Investment TypeBalanced
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Showing 16 of 96 results

The information in this 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. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

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

Figuring out the best super fund performance for 2024

It's impossible to measure future performance of any super fund. That's why we look at past performance. Which can only be an indication rather than a prediction of future returns.

Using data from the 2024 Finder Awards, we have the following winners based on different super fund categories:

  • Best Balanced Super Fund: UniSuper - Sustainable Balanced is the best balanced fund. It has delivered an average annual return of 8.78% over the last 10 years and 7.82% over the last 5 years.
  • Best Conservative Super Fund: Aware Super Conservative Balanced is the best conservative fund. It has managed an average annual return of 6% over the last 10 years and 4.9% over the last 5 years.
  • Best High Growth Super Fund: UniSuper Sustainable High Growth delivered an annual average of 9.98% over the past 10 years and 9.28% over the past 5 years​​.
  • Best Low Fee Super Fund: Aware Super Balanced Indexed is the best low fee fund. It has fees of around $462 on a $50,000 balance, and has delivered an annual average return of 7.51% over the last 10 years and 6.72% over the last 5 years.
  • Best Shares Super Fund: Australian Retirement Trust - International Shares Index (unhedged) had an annual return of 12.08% over the past 10 years and 11.43% over the past 5 years​​.

For more detailed insights into these categories and winners, take a look at our Finder Superannuation Awards 2024.

How do we pick the best super funds?

At Finder, we understand that there is no one-size-fits-all "best" super fund. The ideal fund for you depends on your life stage, risk tolerance and growth objectives. To guide you effectively, we've selected super funds catering to different life stages and financial goals.

Our methodology involves a comprehensive analysis of various factors including performance, fees and investment options. We scrutinise funds to ensure they meet diverse investor needs, from those just starting their careers to those nearing retirement.

What's the highest-performing Australian super fund in 2024?

We can look at returns as of July 2024 to find the highest-performing funds so far this year. The super funds with the highest returns last year are all single sector investment options that invest entirely in shares.

Virgin Money Super's Indexed Australian Listed Property option has returned 25.76% for the financial year.Vanguard's International Shares option has returned 20.29%, and Australian Ethical Super's International Shares option has returned 19.9%.

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 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% and 12% p.a.

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 that are underperforming for members. APRA tested 58 MySuper products in 2023 which held $907 billion in assets, and the test showed an average performance of 0.41% above the benchmark.

APRA found that 80% of members' MySuper accounts perform above the benchmark, which is great if you are in that cohort. But for the remaining 20% the products underperformed by >0.50%. While only a small amount, you don't want your super to underperform.

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.

How to pick the best super fund

Choosing the right super fund is crucial for your financial future. While the top-performing funds are a great start, they may not always align with your specific needs. If you're looking elsewhere, consider these key factors from our comparison table below:

High long-term returns. Look for funds with a consistent track record of strong returns over the long term (funds with 10-year returns above 7% p.a. are among the top performers).

Low fees. Higher fees can significantly eat into your retirement savings. Opt for funds with lower fees without compromising on performance (aim for annual fees less than 1.5% of your super balance).

Investment strategy aligns with your age. Your age and retirement goals should dictate your investment strategy. Younger investors might prefer high-growth options, whereas those nearing retirement may prioritise stability and have a shorter investing time horizon for a portion of their balance. If needing access to funds in the next 3-5 years, it's important to be invested in a lower risk option.
Access to insurance cover. Does the fund offers members cost-effective life, TPD and salary continuance policies?

Use these criteria as a guide to navigate through the comparison table and find the fund that best suits your financial situation and goals.

Gary Ross Hunter's headshot

"I only moved to Australia 6 years ago so I'm playing catch up with my super. For me, low fees are important and to know my money isn't being invested in something that's destroying the planet. I also cancelled the life insurance inside my super because the premiums increase every year."

Editor, Insurance

Methodology: How we choose our best 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:

FAQs about picking the best super funds in Australia

Karen Eley is the founder of Women Talking Finance, which provides money coaching and financial literacy and education services. An experienced and former financial adviser who has worked in financial services industry for 22 years, Karen is a Certified Money Coach (CMC), holds a Bachelor of Accounting and an Advanced Diploma in Financial Planning and CFP.
Richard Whitten's headshot
Karen Eley's headshot
To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Karen Eley, a member of Finder's Editorial Review Board.
Alison Banney's headshot
Written by

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 626 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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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/super-funds/superannuation-calculator

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

      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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