AustralianSuper is the nation’s largest fund; Aware Super is one of its biggest with deep roots in the NSW public sector. Both are industry, profit-to-member funds. Here’s how they stack up.
At a glance
| AustralianSuper | Aware Super | |
|---|---|---|
| Members | ~3.4 million | ~1.1 million |
| Type | Industry, profit-to-member | Industry, profit-to-member |
| Default (MySuper) option | Balanced — one option for all ages | Lifecycle — age-based glide path |
| Indicative fees on $50k* | ~$385 / year | ~$390 / year |
| Indicative 10-yr return* | Balanced ~8.9% p.a. | ~8.8% p.a. (growth phase) |
| Passed 2026 APRA test | Yes | Yes |
*Indicative only, to ~30 June 2026 — verify against each fund’s PDS and the ATO YourSuper comparison tool.
Fees & performance
Both are competitive, low-cost funds with strong long-term returns. Like ART, Aware uses an age-based lifecycle default, so a younger Aware member sits in a higher-growth mix than the AustralianSuper Balanced default — again, compare the option you’d actually be in, for the risk taken, net of fees.
Which tends to suit whom
- AustralianSuper — a single Balanced option and the largest member base in the country.
- Aware Super — an automatic lifecycle glide and a strong record, particularly popular with public-sector and health workers.
Frequently asked questions
Is Aware Super a good fund?
Aware Super is a large, low-cost industry fund with a strong long-term track record and it passed APRA's 2026 performance test. Whether it's right for you depends on your age, risk profile and goals.
How is Aware Super's default different from AustralianSuper's?
Aware uses an age-based lifecycle default that gradually reduces risk as you get older, whereas AustralianSuper's default is a single Balanced option for all ages.
Which has better returns?
Headline returns depend on the option and its risk level, so they aren't directly comparable. Look at net-of-fee, risk-adjusted returns for the specific option you'd be invested in.
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