AustralianSuper and Australian Retirement Trust (ART) are the two largest super funds in the country, and between them they look after the retirement savings of millions of Australians. Both are industry, profit-to-member funds with strong long-term track records — so how do you choose? Here’s a factual, side-by-side look.
At a glance
| AustralianSuper | Australian Retirement Trust | |
|---|---|---|
| Members | ~3.4 million (largest in Australia) | ~2.3 million (2nd largest) |
| Type | Industry, profit-to-member | Industry, profit-to-member |
| Default (MySuper) option | Balanced — one diversified option for all ages | Lifecycle — High Growth pool until ~age 50, then glides more defensive |
| Indicative fees on $50k* | ~$385 / year | ~$400 / year |
| Indicative 10-yr return* | Balanced ~8.9% p.a. | High Growth pool ~10.0% p.a. (higher-risk mix) |
| Passed 2026 APRA test | Yes | Yes |
*Indicative only, to ~30 June 2026 — verify against each fund’s current PDS and the ATO YourSuper comparison tool. Returns are not directly comparable where the asset mix differs.
Fees
Both are low-cost by market standards. AustralianSuper’s single Balanced default tends to sit slightly cheaper on a like-for-like balance, while ART’s lifecycle option can carry a marginally different fee depending on your age band. On a $50k balance the gap is small — tens of dollars a year, not hundreds.
Performance
This is where it’s easy to be misled. ART’s headline 10-year number looks higher, but that’s largely because its default holds younger members in a higher-growth asset mix — more growth assets means higher expected return and higher volatility. AustralianSuper’s Balanced is a more traditional diversified mix. Comparing the two headline numbers directly is apples-to-oranges; what matters is the return for the risk you’re taking, net of fees.
Which tends to suit whom
- AustralianSuper suits members who want a single, well-diversified Balanced option and the scale of the country’s largest fund.
- Australian Retirement Trust suits members who like a set-and-forget lifecycle glide that automatically dials down risk as they approach retirement.
Frequently asked questions
Is AustralianSuper or Australian Retirement Trust better?
Neither is universally 'better' — they are both large, low-cost industry funds. The right one depends on your age, risk tolerance and whether you prefer a single Balanced option or a lifecycle glide. Compare them on fees and risk-adjusted, net-of-fee returns for the option you'd actually be in.
Which has lower fees?
On a like-for-like balance the two are close; AustralianSuper's Balanced default is often marginally cheaper. Always check current fees on each fund's PDS and the ATO YourSuper tool, as fees change.
Should I switch between them?
Switching funds can trigger tax, timing and insurance consequences, so it's not automatically worth it even for a small fee saving. Get personal advice before switching.
Not sure which fund is right for you?
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