How do Simplicity and Anz compare on fees?

Simplicity's funds carry an average annual fee of 0.25% compared with 0.77% at Anz. 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.

What are the 5-year returns for Simplicity vs Anz?

Based on 5-year average annualised returns from FMA Disclose data, Simplicity shows 4.05% across its KiwiSaver scheme fund range, and Anz shows 3.60%. Past performance is not a reliable indicator of future returns and returns can be negative in any given year.

Can I switch from Simplicity to Anz?

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.

Which provider has more fund options — Simplicity or Anz?

Simplicity offers 6 KiwiSaver scheme funds, while Anz offers 21. A larger fund range gives more granular control over your asset allocation; a smaller range typically reflects a focused index- or default-fund philosophy.

How is this data sourced?

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.

Simplicity vs Anz

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

Why Simplicity and Anz differ

The most material structural difference between ANZ and Simplicity is fee level. Simplicity charges a flat 0.25% across all six funds in its KiwiSaver scheme, while ANZ's average fee across its 21 funds sits at 0.771% — more than three times higher — with individual funds ranging from 0.22% on its Cash Fund up to 0.90% on its Sustainable International Share fund.

That fee gap matters in the context of returns. Simplicity's average five-year return across its fund range is 4.05%, compared to ANZ's 3.6% average across a much larger fund set. ANZ's Sustainable International Share fund leads on raw return at 13.87% over five years, though no comparable five-year return figure is disclosed for Simplicity's highest-returning fund — the Defensive Fund snapshot does not include that data point, so a like-for-like peak comparison is not possible here.

Metric	Simplicity	Anz	Difference
Average 5Y Return	4.05%	3.60%	0.45% diff
Average Fees	0.25%	0.77%	0.52% diff
Number of Funds	6	21	15 diff
Total Members	148,826	617,517	—
Total AUM	$6059M	$21441M	—

Simplicity vs Anz

Why Simplicity and Anz differ

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Simplicity

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Frequently asked questions

How do Simplicity and Anz compare on fees?

What are the 5-year returns for Simplicity vs Anz?

Can I switch from Simplicity to Anz?

Which provider has more fund options — Simplicity or Anz?

How is this data sourced?

Methodology and data sources

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