Side-by-side KiwiSaver data — fees, 5-year returns, fund options, members, AUM. Sourced from FMA Disclose and provider PDS.
Last updated: 2026-05-09
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
| Metric | Amp | Milford | Difference |
|---|---|---|---|
| Average 5Y Return | 4.81% | 4.47% | 0.34% diff |
| Average Fees | 1.00% |
Compare every KiwiSaver scheme fund on the FMA Disclose register. Quarterly refresh from Sorted Smart Investor. Independent — not a Financial Advice Provider, general information only.
| 0.88% |
| 0.12% diff |
| Number of Funds | 30 | 6 | 24 diff |
| Total Members | 219,095 | 213,717 | — |
| Total AUM | $9699M | $14623M | — |
Data sourced from FMA and provider disclosures. Past performance is not a reliable indicator of future returns.
Lower headline fees: Milford (0.88% average) versus Amp (1.00%). Fee-sensitive investors and long-horizon savers (20+ years to retirement) typically weight fees heavily because they compound.
Higher historical 5-year return: Amp (4.81%) versus Milford (4.47%). Higher past return is not a forecast — it usually reflects asset-mix differences (more growth assets) and the specific 5-year window. A higher-growth portfolio also carries larger drawdowns.
Wider fund range: Amp (30 funds) gives more granular control over asset allocation across categories. The provider with fewer options (6 funds) is typically more index- or default-fund focused.
This is data analysis, not advice. Whether either provider suits you depends on your investment horizon, risk tolerance, and personal circumstances. Consult a licensed financial adviser for guidance specific to your situation.
You can only be in one KiwiSaver scheme at a time. Switching between funds within the same provider is a separate, usually instant process — see our switching-funds guide. For full step-by-step provider-switch instructions including the eligibility letter and bank-transfer mechanics, see how to switch KiwiSaver provider.
Amp's funds carry an average annual fee of 1.00% compared with 0.88% at Milford. Illustrative — sub-1-percentage-point fee gaps compound over multi-decade horizons. Compare net-fee return as well as fee level — see the side-by-side data above.
Based on 5-year average annualised returns from FMA Disclose data, Amp shows 4.81% across its KiwiSaver scheme fund range, and Milford shows 4.47%. Past performance is not a reliable indicator of future returns and returns can be negative in any given year.
Yes. Switching KiwiSaver providers is free, requires no permission from your current provider, and typically takes 10–15 business days. You apply with your chosen new provider — they handle the transfer with your old provider directly. There are no exit fees or tax penalties. See our switching guide for the step-by-step process.
Amp offers 30 KiwiSaver scheme funds, while Milford offers 6. A larger fund range gives more granular control over your asset allocation; a smaller range typically reflects a focused index- or default-fund philosophy.
All figures are extracted from the FMA Disclose register and provider PDS / Quarterly Fund Update documents. Returns are 5-year annualised averages where available. AUM and member counts are sourced from the most recent provider disclosures. Data is refreshed quarterly. See methodology below.
Source: Financial Markets Authority (FMA) Disclose register, provider PDS documents, and Quarterly Fund Updates (QFUs).
Returns: 5-year annualised averages, after fees and before tax (per FMA QFU convention). Where a fund has fewer than 5 years of history it is excluded from the average.
Fees: Total annual fund charge (TAFC) as disclosed in the most recent QFU.
AUM and members: Most recent provider scheme disclosure.
Refresh cadence: Quarterly, following each QFU release.
Categories: Conservative / Balanced / Growth / Aggressive normalised across providers using each fund's own self-classification with light mapping (defensive and cash → Conservative; high-growth → Aggressive).
FundCompare is not a Financial Advice Provider. We compare and inform; we do not recommend or advise. Past performance is not a reliable indicator of future returns.
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Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
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Investing involves risk. The value of your KiwiSaver investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.
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