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
Hostplus is an award-winning industry super fund open to all Australians with a focus on the hospitality and retail sector. The Balanced fund invests your super in a broad range of assets and is designed for high long-term growth.
We only look at Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
Superfund
Hostplus Balanced
Fees on $5k balance (p.a.)
$172.66
Fees on $50k balance (p.a.)
$654.16
Fees on $100k balance (p.a.)
$1,189.16
Best returns: 2nd place AustralianSuper - Balanced
AustralianSuper is an award-winning industry super fund and the largest super fund in Australia. The Balanced fund invests in a mix of different assets like shares, property and cash and is one of the best-performing funds over the long term.
We only look at Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
Superfund
AustralianSuper - Balanced
Fees on $5k balance (p.a.)
$85.50
Fees on $50k balance (p.a.)
$387
Fees on $100k balance (p.a.)
$722
Best returns: 3rd place Australian Retirement Trust - Balanced
Australian Retirement Trust, one of Australia's largest super funds with more than 2 million members. Its Balanced product invests your super in a mix of growth assets, and reduces your risk when you're near retirement.
We only look at Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
UniSuper is an industry super fund with more than 620,000 members. Its Balanced option invests in a mix of different asset classes and charges some of the lowest fees of all default super products.
We only look at Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
Cbus is a leading industry super fund for the building and construction industry, that’s open to all Australians. The Growth fund is a pre-mixed investment portfolio and an approved MySuper product.
We only look at Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
Superfund
Cbus Growth
Fees on $5k balance (p.a.)
$93
Fees on $50k balance (p.a.)
$462
Fees on $100k balance (p.a.)
$872
What is an industry super fund?
Industry super funds are not-for-profit super funds that are owned by the members of the fund. These funds give profits back to members in the form of lower fees, instead of paying profits to shareholders like many retail super funds do. Lower fees often mean higher investment returns over the long term, too.
Industry super funds aren't owned by a major bank or financial institution. Instead, they're owned by the members of the fund. Industry super funds are not-for-profit funds, as they don't exist to make a profit for a parent company or shareholders, but instead exist to benefit the members of the fund.
Together, the industry funds in Australia have created the Industry Fund website which contains useful information if you're looking to under more.
Our expert says
"Industry super funds are either for member-profit, or are not-for-profit; money made from the investments is paid back into the fund, and fees charged are those related to covering the costs of management and investment activities. This is in contrast to retail super funds which are a commercial entity, and are focused on delivering profit and returns to their shareholders."
Profits go back into the fund to benefit members, not shareholders
Low fees compared to some major retail funds
Strong long-term performance figures
They're not owned by a bank or financial institution
Large investments in Australian infrastructure (unlisted assets)
Who can join an industry super fund?
Many industry super funds were initially only available to workers in a certain industry, for example, hospitality or retail. However, today, most industry super funds are open for all Australians to join.
If you work in a particular industry your employer may have the associated industry super fund available as their default option for employees. However, you're in no way required to join your employers chosen fund or your industry fund and are free to join whichever super fund you wish.
How to compare industry super funds
Consider the following features when you're choosing an industry super fund.
The industry it's aligned to
Most funds are open to everyone to join, and you don't have to join the fund for your particular industry. however, you might like to. Some industry funds offer tailored perks and benefits to people who work in that industry, and often the fund will invest back into the industry when making investment decisions.
Past performance
When comparing performance, look for a fund with high long-term returns (the 10+ year returns) for the most accurate picture of how the fund has performed on average.
The fees
Look for low annual admin and investment fees. The more money you pay in fees the less you'll benefit from investment returns.
Insurance options
Does the fund offer tailored insurance options for your particular industry? For example, Cbus is the industry fund for construction workers and offers a range of insurance options to suit this line of work.
Investment strategy
Check the fund's investment strategy aligns with what you're looking for. For example does it invest ethically?
How well do industry super funds perform?
Industry super funds have, on average, performed better than retail super funds over the long term. Data analysed by Industry Super Australia found that industry funds have outperformed retail funds over the past 5, 10 and 20 years.
Finder's comparison table shows that of the top-10 performing Balanced funds for the past decade, all 10 are industry super funds. These are listed below.
10 best industry super funds
The table below shows the top 10 Balanced industry super funds based on 10-year return, per annum to December 2024. You'll notice some of these are included in Finder's best super fund picks.
The table above looks at only Balanced industry super funds using data from Super Rating and available in our comparison table when filtering for 'Balanced'. Ethical or sustainable options have been excluded. Balanced funds in the table are those with an asset allocation between 61-80% towards growth assets.
When determining our 'Top Picks', we included the first 5 funds from this list. The performance data we looked at for this list was the 10-year returns for the period ending April 2024. We haven't considered other features of the funds (such as fees) when determining our Top Picks - it's based on performance alone. We have looked at all products in the market that we have data available for, including retail super funds and funds that have no commercial partnerships with Finder.
Do industry super funds have low fees?
The fees charged by industry super funds vary, and will depend on the investment option that you're in.
Top 5 Balanced industry super funds with the lowest fees
Follow these steps to switch to an industry super fund:
1. Pick an industry super fund.
You can use the comparison table above to compare the fees and performance figures for all industry super funds.
2. Join the fund.
Complete the online membership application form for the fund you've chosen. Make sure to have details like your Tax File Number and your employer's details handy, as well as ID like a driver's license or passport.
3. Close your previous fund (if you have one).
There will be an option to consolidate your super in the application form. Just provide your membership number/s from your old fund, and the new fund you're switching to will take care of the rest.
4. Tell your employer.
Give your new membership number and account details to your employer so that they can pay your super guarantee payments directly into the new fund.
"I recently switched super funds to a better performing fund. One thing that helped me out in selecting the right fund was selecting 3-5 funds which had great long term performance with low fees. The final deciding factor which helped me choose the right fund was how my values and risk tolerance aligned with the fund. In the end I chose a fund that had a strong track record of growth and low fees."
Industry Super Australia is an advocacy body representing the needs and interests of industry super funds. It's also a research body which commissions consumer research projects on the superannuation sector at large, with a focus on industry funds and their benefits to Australians. Industry Super Australia actively campaigns for Australian workers to join an industry super fund as opposed to a retail fund, often citing data that industry funds on average perform better than retire funds.
These 10 funds are all members of Industry Super Australia: AustralianSuper; Cbus; HESTA; Hostplus; Spirit Super; CareSuper; NGS Super; TWUSuper; First Super; legalsuper.
The main difference between industry and retail funds is with their ownership structure. Industry funds exist solely for the purpose of superannuation and all profits are distributed back nto the fund, which ultimately benefits members. Retail funds are usually owned by large banks or other financial companies that offer a rage of finance products, not just superannuation. Profits from retail funds go to shareholders other parts of the business, as well as to members.
Another interesting point of difference between these two types of funds is that industry super funds have significant investments in unlisted assets. This mainly includes Australian infrastructure like roads, bridges, airports and public transport.
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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I have a SMSF. Am thinking of swapping to an industry fund. Value $1,500,000 to swap over. Concerned about fees. Which ones would be best to consider? Looks like my costs will increase if I swap.
Regards,
John
Finder
AlisonMay 21, 2025Finder
Hi John,
We can’t say which super fund will be best for you. Yes, fees are a major comparison point and the lower the better. When comparing different industry funds, make sure you also consider the different investment options within those funds too. Some of these have incredibly low fees.
It’s also important to consider the long-term past returns as well, and the insurance options available with the fund.
For any personal advice I’d recommend speaking with a financial advisor.
Thanks,
Alison
MikeOctober 23, 2018
What super fund will accept KiwiSaver?
Finder
JhezelynOctober 23, 2018Finder
Hello Mike,
Thank you for your comment.
According to the super guide, there are only 3 Australian super funds that accept transfers from KiwiSaver accounts to Australian super accounts. These are WA Super, FIRST Super and Energy Super.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
KevinApril 21, 2018
what retail or industry funds accept QROPS 55 from the UK new members KC?
Finder
JeniApril 22, 2018Finder
Hi Kevin,
Thank you for your inquiry.
Please see this guide to check the recognised overseas pension schemes notification list for the full list of retail and industry funds in Australia that accept QROPS.
Please note that you will need to check that the scheme you are transferring to on or after that date meets the new requirements.
Australian women are set to inherit the majority of the $5 trillion wealth transfer taking place over the next decade. This guide helps women over 45 understand how to manage, protect and grow their inheritance to create financial freedom and a lasting legacy.
Explore essential components of retirement planning for a secure future. Dive into the intricacies of retirement planning, covering vital elements such as investment strategies, savings goals, and risk management. Gain valuable insights to chart your path towards a secure and fulfilling retirement.
We've analysed Australian super funds to find the best-performing super funds, the best industry super funds and the best super fund for low fees. Find the right super fund for you.
Self-employed super contributions are a great way to boost your retirement savings, but there are some rules. See rules for contributions and compare super funds if you're self employed.
When you start your first job you'll need to open a bank account, a super fund and understand what your tax obligations are.
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I have a SMSF. Am thinking of swapping to an industry fund. Value $1,500,000 to swap over. Concerned about fees. Which ones would be best to consider? Looks like my costs will increase if I swap.
Regards,
John
Hi John,
We can’t say which super fund will be best for you. Yes, fees are a major comparison point and the lower the better. When comparing different industry funds, make sure you also consider the different investment options within those funds too. Some of these have incredibly low fees.
It’s also important to consider the long-term past returns as well, and the insurance options available with the fund.
For any personal advice I’d recommend speaking with a financial advisor.
Thanks,
Alison
What super fund will accept KiwiSaver?
Hello Mike,
Thank you for your comment.
According to the super guide, there are only 3 Australian super funds that accept transfers from KiwiSaver accounts to Australian super accounts. These are WA Super, FIRST Super and Energy Super.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
what retail or industry funds accept QROPS 55 from the UK new members KC?
Hi Kevin,
Thank you for your inquiry.
Please see this guide to check the recognised overseas pension schemes notification list for the full list of retail and industry funds in Australia that accept QROPS.
Please note that you will need to check that the scheme you are transferring to on or after that date meets the new requirements.
I hope this helps.
Cheers,
Jeni