AustralianSuper vs HESTA super

Tossing up between AustralianSuper and HESTA? We've compared their fees, investment options and performance side by side to help you choose.

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By

Alison Banney

Updated

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Key takeaways

  • AustralianSuper has more members and more funds under management than HESTA.
  • The default MySuper options by AustralianSuper and HESTA are both top-performing funds and have achieved very similar performance returns over the short and long term.
  • AustralianSuper's MySuper product has slightly lower fees compared to HESTAs.

AustralianSuper vs HESTA

AustralianSuperHESTA
Type of fundIndustry super fund and Australia's largest super fundIndustry super fund with a focus on the healthcare sector
Number of members3.4 million members1.05 million members
Funds under management$341 billion$88 billion
Default investment optionAustralianSuper Balanced

This is a pre-mixed, diversified fund that invests your super in a range of assets with a strong allocation towards Australian and international shares, direct property and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product.

HESTA Balanced Growth

Similar to AustralianSuper Balanced, this is a ready-made investment portfolio with a strong focus on shares, private equity and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product.

PerformancePast performance of AustralianSuper Balanced:
  • 10 years: 8.04% p.a.
  • 5 years: 6.79% p.a.
  • 3 years: 4.46% p.a.
Past performance of HESTA Balanced Growth:
  • 10 years: 7.72% p.a.
  • 5 years: 7.06% p.a.
  • 3 years: 5.7% p.a.
FeesHere's how much you'd pay in fees for one year if you had the following amounts invested in AustralianSuper Balanced:
  • $5,000 balance: $85.50 in fees
  • $50,000 balance: $387 in fees
  • $100,000 balance: $722 in fees
Here's how much you'd pay in fees for one year if you had the following amounts invested in HESTA Balanced Growth:
  • $5,000 balance: $93 in fees
  • $50,000 balance: $457 in fees
  • $100,000 balance: $862 in fees
Additional diversified investment optionsIf you don't want to invest in the default option (AustralianSuper Balanced), you can choose to invest your super in one of the following pre-made investment options instead:
  • High Growth
  • Socially Aware
  • Indexed Diversified
  • Conservative Balanced
  • Stable
If you don't want to invest in the default option (HESTA Balanced Growth), you can choose to invest your super in one of the following pre-made investment options instead:
  • High Growth
  • Sustainable Growth
  • Indexed Balanced Growth
  • Conservative
Single asset class investment optionsIf you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
  • Australian Shares
  • International Shares
  • Diversified Fixed Interest
  • Cash
If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
  • Australian Shares
  • International Shares
  • Property and Infrastructure
  • Diversified Bonds
  • Cash and Term Deposits
Ethical investmentThe AustralianSuper Socially Aware option doesn't invest in Australian or international companies that directly own coal and fossil fuel reserves, produce tobacco or those which have single-gender boards. AustralianSuper lists all its fund holdings on its website.

Past performance of AustralianSuper Socially Aware:

  • 1 year: 11.05% p.a.
  • 3 years: 4.09% p.a.
  • 5 years: 5.96% p.a.

If you had $50,000 invested in AustraliaSuper Socially Aware you'd pay annual fees of $402.

The HESTA Sustainable Growth option invests in companies "with above average environmental, social and governance performance". It lists its top 20 holdings on its website.

Past performance of HESTA Sustainable Growth:

  • 1 year: 9.9% p.a.
  • 3 years: 2.94% p.a.
  • 5 years: 6.71% p.a.

If you had $50,000 invested in HESTA Sustainable Growth you'd pay annual fees of $562.

Mobile appThe AustralianSuper app has a 3.6-star rating from users in the Google Play Store and a 3-star rating in the Apple App Store.The HESTA mobile app has a 1.5-star rating from users in the Google Play Store and a 1.3-star rating in the Apple App Store.
Read moreMore InfoMore Info
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Our expert says: Choosing a super fund

"Choosing super funds can feel overwhelming, but it gets easier once you've narrowed it down to a couple of options. If you can't decide between two similar funds, compare the fees and fund performance. Don't just look at the last year, but look at 5 and 10-year performance. And make sure you're comparing similar fund options. A high growth fund will have different performance to a balanced fund. "

Money Editor

How do the default MySuper products compare?

These two products are very similar; both AustralianSuper Balanced and HESTA Balanced Growth are authorised MySuper products, both are pre-mixed, diversified funds and both have a similar risk level.

Overall, AustralianSuper Balanced has a bit more exposure to high-risk, growth assets like internatrional shares, but the difference is only minor.

How do their fees and performance figures compare?

Looking at the default options, AustralianSuper has slightly lower annual fees than HESTA. AustralianSuper Balanced has also delivered slightly higher returns over the long term.

If you're interested in knowing how both AustralianSuper and Hesta compare to other funds, have a look at our top Australian super funds guide.

How do the ethical investment options compare?

Both AustralianSuper Socially Aware and HESTA Sustainable Growth avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. However, AustralianSuper is more transparent with its investments; it has a full list of its fund holdings on its website for you to see exactly which companies it invests in, while HESTA only lists its top holdings.

HESTA Sustainable Growth has achieved better returns than AustralianSuper Socially Aware over the short, medium and long term. However, HESTA's fees are slightly higher.

If you're interested in investing your super ethically, you can compare these funds with range of additional ethical super funds in our guide.

How do the additional investment options compare?

AustralianSuper and HESTA offer very similar additional investment options. Again, HESTA charges slightly higher fees for its additional investment options compared to AustralianSuper.

If you're unsure how these different options work with your super fund, here's a guide on superannuation investment options and how to choose between them.

Want to keep comparing?

If you're not yet convinced that either AustralianSuper or HESTA is right for you, or you simply want to see how they compare to others in the market, you can compare super funds with our guide.

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Written by

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 631 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
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  • Managing the cost of living
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