You can enjoy strong investment returns while knowing your super is helping support companies and projects that have a positive social and environmental impact.
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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 September 2025
'Ethical' means different things to different people, so there is no one way that ethical super funds invest.
Some super funds exclusively offer ethical investment options, while others might offer just one dedicted ethical investment option.
Ethical funds have performed well over the long term, but make sure you're not overpaying in fees.
What is an ethical super fund?
An ethical super fund is one that aims to invest its members' money in an ethical or socially responsible way.
Generally, it involves supporting companies and industries that are making a positive impact on our communities and on our environment, while actively excluding those that are making a negative impact.
Ethical investing has become more popular in recent years, and now accounts for around 36% of the investment market in Australia.1
How ethical super funds invest your money
An ethical super fund is one that chooses investment options based on a set of social, environmental and ethical criteria. There is no set approach or rule to how ethical funds invest, but here's a list of the investments ethical funds tend to include and exclude from their portfolios.
Note that not all ethical super funds will include or exclude all these things. While some funds might completely exclude something like coal mining companies, other funds might put a limit in place around how much of their fund can be invested in a particular industry.
What do ethical super funds invest in?
Renewable, clean energy projects like wind farms
Recycling and waste management
Companies that do not test on animals
Clean, efficient transport (like electric cars)
Healthcare and education
Innovative technology and sustainable products and manufacturing
Companies with gender-diverse boards
What don't ethical super funds invest in?
Fossil fuel production
Coal mining
Tobacco and gambling
Pornography
Forest logging
Companies that test products on animals
Live animal exports
Amunition manufacturing
Some ethical investment funds also conduct a "best of sector" approach. This involves looking at a particular sector, for example banking, and selecting the companies that best meet its ethical criteria.
For example looking at all the banks, and instead of deciding that none meet the ethical criteria, investing in the one that is the closest fit. This way, you're still benefiting from the investment diversification and performance of that sector.
Expert insight
"A lot of people forget their superannuation represents the ability to influence outcomes. When considering which super fund to invest in, it's really important to be aware of performance and fees - but also to ensure your values are aligned.
For example, if you're environmentally conscious, then you don't want your super to be invested in mining stocks. Superannuation is an endurance race; you'll have better success if your values are aligned with your investment decisions."
Australian Ethical Super has been named the best ethical super fund in the Finder Green Awards multiple years in a row (2020, 2021, 2022 and 2023 when the program was last run). It was also named as the Sustainable Fund of the Year for 2025 by SuperRatings.
High growth ethical super fund Australian Ethical Super International Shares
Australian Ethical seeks to invest in companies that have a positive impact on the planet, people and animals, such as renewable energy and healthcare while avoiding investments in coal, oil, tobacco and gambling.
We looked at each fund's current environmental performance, environmental targets and reporting and accreditation, analysing the fund's sustainable investment approach and the environmental performance of its portfolio.
Superfund
Australian Ethical Super International Shares
Fees on $5k balance (p.a.)
$128
Fees on $50k balance (p.a.)
$668
Fees on $100k balance (p.a.)
$1,268
What we like about Australian Ethical Super:
Certified sustainable. Australian Ethical Super is one of just a handful of super funds to be certified by the Responsible Investment Association Australasia for its commitment to responsible and sustainable investments.
Investment transparency. Australian Ethical Super provides a readily available list of all the companies it invests in on its website, so you can see exactly where your money is going.
Climate change awareness. Australian Ethical Super excludes all fossil fuel investments and most mining companies, while actively investing in renewable energy.
Strong performance. Australian Ethical Super has achieved strong performance returns over the short and long term.
UniSuper Balanced was named the best balanced fund in the 2024 Finder Awards, and Uni Super Sustainable High Growth was named the best high growth fund.
Low-fee ethical super fund UniSuper - Sustainable High Growth
UniSuper is an industry super fund with more than 640,000 members. Its Sustainable High Growth option limits exposure to fossil fuels, weapons, gambling, alcohol and tobacco and charges some of the lowest fees in the market.
We looked at the ethical super funds in our database and filtered for the fund with the lowest annual fees based on a $50,000 balance.
Superfund
UniSuper - Sustainable High Growth
Fees on $5k balance (p.a.)
$119
Fees on $50k balance (p.a.)
$326
Fees on $100k balance (p.a.)
$556
What we like about UniSuper:
Certified sustainable. UniSuper's ethical options are all certified by the Responsible Investment Association Australasia for their commitment to responsible and sustainable investments.
Low fees. UniSuper's two ethical options (Sustainable Balanced and Sustainable High Growth) both charge the lowest fees of all ethical funds in our database.
High returns. UniSuper is consistently one of the top-performing funds in the market.
Other Ethical Super Funds in Australia in 2025
Here are some of the major super funds in Australia offering ethical or socially responsible investment options:
Australian Ethical: All investment options are managed according to their Ethical Charter.
Australian Retirement Trust: Offers a Socially Conscious Balanced investment option.
AustralianSuper: Provides a Socially Aware investment option.
Aware Super: Features a Diversified Socially Responsible Investment option.
Care Super: Provides a Sustainable Balanced option.
HESTA: Offers a Sustainable Growth option with specific ethical screens.
Hostplus: Provides a Socially Responsible Investment - Balanced option.
UniSuper: Includes Sustainable Balanced and Sustainable High Growth options.
Verve Super: An ethical fund specifically tailored for women.
How to compare ethical super funds
There are several factors you should consider before choosing an ethical super fund, including:
1. Accreditation
The Responsible Investment Association of Australasia (RIAA) offers a Responsible Investment Certification to certain funds that meet its criteria. Some fund that have received this accreditation are Australian Ethical, UniSuper, Aware Super, Future Super and Australian Retirement Trust. A fund doesn't need to have this certification to be considered 'ethical', however it's handy to know that those that do have been independently verified.
2. Performance
While past performance does not indicate future performance, it's definitely worthwhile checking a super fund's investment performance to see the returns it has generated over the long term (for example 10+ years).
3. The companies it invests in
Take a closer look at the individual companies the fund will invest your money in. You'll find this information on the fund's website, or by contacting the fund directly. Are there any there that do not align with your values and beliefs?
4. Screening process
How rigorously does the super fund screen companies it considers for investment? Does it use negative screening, positive screening and/or a best of sector approach?
5. The fees
Some ethical super funds can charge quite high fees, in comparison to regular MySuper funds. You may decide this it worth it for you personally, based on your investment values. However, it's still worth comparing the fees among ethical funds themselves as these can vary greatly. A general rule of thumb is to aim for annual fees that are around 1% of your balance or less.
6. The risk level
Check how aggressively the ethical fund invests in growth assets like shares, and if this aligns with your desired risk level.
Want to compare more super funds?
Compare hundreds of super fund options to find the right one for you.
Know your super isn't supporting industries you don't agree with.
Some ethical super options have performed incredibly well.
There are more ethical investments becoming available, giving you lots of choice.
Cons
You'll need to sacrifice some investment opportunities.
Excluding certain industries means your investment portfolio could be less diversified.
Less choice between super funds, as not all super funds offer an ethical investment option.
The fees do tend to be higher with ethical super funds.
Look out for greenwashing
Keep an eye out for funds that make misleading or exaggerated claims about their ethical status in their marketing materials. According to a Finder report, ASIC issued more than $150,000 worth of greenwashing-related fines to financial service companies between October 2022 and May 2023.
Ethical super funds have consistently performed as well as regular funds over the last few years. Here are the 5 top performing sustainable balanced super funds over the 2024/25 financial year, according to data from SuperRatings1.
Ethical super fund
1-year return
Vanguard Super - Ethically Conscious Growth
12.60%
Aware Super - Balanced Socially Conscious
12.30%
UniSuper - Sustainable Balanced
11.10%
Raiz Super - Emerald
11.10%
HESTA - Sustainable Balanced
11.10%
How to join an ethical super fund
1. Choose an ethical fund. The comparison table above can help you choose a new super fund. 2. Join the new fund. Complete the online application form on the fund's website. 3. Move your super into your new fund. 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. 4. Let your employer know. Let your employer know right away so they can pay your next super guarantee payment to the correct fund.
Take a look at our guide on how to change super funds in 4 steps for a more detailed explanation of each step.
Frequently asked questions
There are two types of ethical super funds. The first option is a super fund which only offers ethical investment options to members, like Australian Ethical Super. These funds apply their ethical investment approach across all their products.
The other option is a retail or industry super fund that offers one dedicated ethical investment option among several other investment options, for example AustralianSuper or Australian Retirement Trust. These funds will usually offer a MySuper balanced investment option as the default option to members, and a socially responsible or ethical option for members who want to select this instead. However, the ethical investment approach isn't applied across all the fund's products.
Fees vary between funds, but ethical super funds do tend to charge slightly higher fees than some default MySuper funds offered by retail and industry funds. This is because of the comprehensive research that goes into each investment chosen by a responsible or ethical fund. However, you may find that actively-managed retail funds charge higher fees than some ethical super funds.
A relatively new ethical super fund may charge higher fees than one that has been established for a longer period of time. This is because an increase in the number of members may allow a fund to lower its investment fees.
You don't have to invest in an ethical super fund - the decision is completely up to you as to how your super is invested. The basic premise behind ethical investing is that you put your money where your mouth is to support the causes and companies that match your values and beliefs. For example if you're passionate about climate change and want to see the end of coal mining, making sure your super isn't helping fund the coal mining sector is one way you can personally make an impact.
AustralianEthical Super has been named the best ethical super fund multiple times in the Finder Green awards. It was also awarded the best sustaibale super fund in the 2025 SuperRatings awards.
Why you can trust Finder's super fund experts
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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.
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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.
