Top 10 Super Funds in Australia 2026: Best, Largest & Worst

Picking a super fund often feels like choosing between dozens of similarly named options, but not all funds are created equal – some consistently top performance charts, while others are better known for their size. We’ve analysed the latest 2026 rankings from SuperRatings, Finder, and Canstar to help you separate the top performers from the simply large.

2026 MySuper Fund of the Year: Australian Retirement Trust (SuperRatings, industry research firm) · Best Balanced Fund 2026: Hostplus (Finder, comparison site) · Best High Growth Fund 2026: Aware Super (Finder) · YourSuper tool: Available from Australian Taxation Office (ATO, government regulator)

Which super fund is performing the best in Australia?

What are the 1-year, 5-year, and 10-year performance rankings?

Performance rankings vary by time frame and risk profile. For 2026, Canstar lists AustralianSuper, Australian Retirement Trust, Hostplus, Aware Super, and Mercer among the best-performing funds. SuperRatings named Australian Retirement Trust its MySuper of the Year, while Finder awarded Hostplus Best Balanced Fund. Past performance, of course, doesn’t guarantee future returns – but consistent long-term results from these funds suggest solid management.

Which funds consistently top performance tables?

• Australian Retirement Trust – 2026 MySuper of the Year; also a finalist in prior years (SuperRatings)
• Hostplus – Best Balanced Fund 2026; known for strong long-term returns (Finder)
• AustralianSuper – regular top-quartile performer over 5- and 10-year periods (Livewire Markets)

How does risk affect top performance?

High-growth options can deliver stronger returns but come with greater volatility. Aware Super’s International Shares option won Finder’s Best High Growth award, reflecting its aggressive allocation. Meanwhile, MLC’s Best Conservative award shows that lower-risk strategies have their own appeal. The right choice depends on your risk tolerance and retirement timeline.

What are the 10 largest super funds in Australia?

Which fund manages the most assets?

While exact asset figures change annually, AustralianSuper is widely considered the largest fund by total assets, managing well over $200 billion. Livewire Markets reported that AustralianSuper was a finalist for the 2026 MySuper Fund of the Year, underlining its scale and investment reach. Australian Retirement Trust, formed from the merger of Sunsuper and QSuper, is the second largest by assets.

How do industry funds compare to retail funds by size?

• Industry funds (profit-for-members) dominate the top ranks: AustralianSuper, Australian Retirement Trust, Hostplus, Aware Super, HESTA (Canstar list).
• Retail funds (for-profit) like AMP and Mercer also appear, typically with higher fees but broader investment menus.
• The ATO’s YourSuper tool can help you compare MySuper options across both types.

What is the membership count for the largest funds?

AustralianSuper reports over 3 million members. Australian Retirement Trust, Hostplus, and Aware Super each have more than 1 million members. These numbers far exceed smaller industry or retail funds. However, member count does not directly correlate with fund performance, as we’ll see.

The pattern: the largest funds are not always the best performers when measured purely on returns. Size brings diversification and stability, but smaller funds can sometimes deliver higher growth if they take on more risk.

What is the most common super fund in Australia?

Which fund has the highest number of members?

AustralianSuper is the most common super fund by membership, with over 3 million accounts. Livewire Markets noted that AustralianSuper was a finalist for MySuper Fund of the Year 2026, reflecting its large base and competitive returns. Aware Super and Hostplus also have very high member counts.

Is the most common fund also the best performing?

Not necessarily. While AustralianSuper appears on Canstar’s best-performing list, it did not win the MySuper of the Year award in 2026 – that went to Australian Retirement Trust (SuperRatings). The most common fund is chosen by default by many employees, not necessarily for top returns. Being large is an advantage for stability, but it’s no guarantee of top-quartile performance.

How many Australians use default MySuper products?

The ATO’s YourSuper tool is specifically designed for MySuper products, which are the default investment options for most employees. According to APRA, the majority of Australians remain in default MySuper products, often with their employer’s default fund. The ATO tool helps compare these options side by side.

The implication: being the most common fund does not equal being the best fund for your individual needs. Use comparison tools to check fees and performance.

What is Australia’s worst super fund?

How is ‘worst’ defined (fees, returns, complaints)?

Worst-performing funds are typically those flagged by APRA for poor returns, high fees, or governance issues. SuperRatings provides comprehensive ranking tables that include both top and bottom performers. Canstar also publishes star ratings where funds with 1 or 2 stars underperform. Additionally, APRA’s annual heatmap shows which MySuper products fail the performance test.

Which funds appear on underperformance lists?

• Small retail funds with high fees frequently appear at the bottom of performance tables (SuperRatings).
• Some industry funds have also been flagged by APRA in past years for falling short of benchmarks.
• Examples from 2024–2025 included several boutique funds with less than $1 billion in assets.

What should members of underperforming funds do?

The ATO’s YourSuper tool makes it easy to compare and switch to a better-performing MySuper product. If your fund has been flagged, you’ll receive a notification from your fund. Switching is usually straightforward and can significantly boost your retirement savings over time.

How many Australians have $1,000,000 in super?

What is the average super balance by age?

According to ATO data, the average super balance at retirement is around $450,000 for men and $350,000 for women. Balances of $1 million or more are rare – estimated at around 200,000 accounts. The ATO’s YourSuper tool doesn’t publish exact distribution, but independent research suggests million-dollar accounts are heavily concentrated among older, high-income males.

How does super wealth distribution look?

• The top 1% of accounts hold more than $2 million, but this group is tiny.
• Most Australians have less than $200,000 at retirement age, according to ATO data.
• Million-dollar balances are almost always achieved through long-term contributions, compound growth, and often a high income.

Which funds are most associated with million-dollar balances?

AustralianSuper and Australian Retirement Trust, due to their large membership and long history, have more high-balance accounts. However, no single fund dominates this category. The key driver is consistent contributions over decades, not the fund choice itself.

For those considering alternative investments, Gold Price Australia can provide a hedge against inflation, though it carries its own risks.

Timeline

• 2024 – Finder awards announced for 2024; past MySuper winners include HESTA (per SuperRatings)
• 2025 – HESTA wins MySuper Fund of the Year (SuperRatings)
• 2026 – Australian Retirement Trust named MySuper Fund of the Year (SuperRatings); Finder announces 2026 Super Funds Awards winners including Hostplus, Aware Super, UniSuper, MLC (Finder); Livewire Markets reports finalists (Livewire Markets)

What’s clear & what’s not

Confirmed facts

• ATO’s YourSuper tool allows users to compare MySuper products (ATO)

What’s unclear

• Exact ranking of best-performing fund depends on the time frame (1-year vs 10-year) and risk metric used.
• The worst fund designation changes yearly as performance shifts; APRA’s heatmap is updated annually but no single worst fund persists.
• The number of Australians with $1M+ super is an estimate; exact ATO distribution data is not publicly released.
• Canstar’s 2026 best-performing list may not reflect later changes.
• Specific category winners (e.g., Finder awards) may be based on methodology that differs from other rankings.

What the experts say

“UniSuper’s Industry Super Fund of the Year award was based 50% on product data and 50% on customer satisfaction data.” Finder press release