Conservative KiwiSaver Scheme Funds Comparison
Compare all 34 Conservative KiwiSaver scheme funds — 5-year returns, fees, and asset mix. Sourced from FMA Disclose, refreshed quarterly.
Last updated: 2026-05-09
Total Conservative Funds
34
Low-risk options
Average Return
2.43%
5-year average
Average Fees
0.76%
Annual fees
Strongest 5-yr return
3.63%
Milford Kiwisaver Mo...
What are Conservative KiwiSaver Scheme Funds?
Conservative funds invest 0-30% in growth assets (shares/property), with 70-100% in income assets (bonds and cash). They prioritize capital preservation and steady returns over high growth.
✅ Suited to:
- • First home buyers (need money in 1-3 years)
- • Near-retirees (within 5 years of age 65)
- • Risk-averse investors
- • Short-term savings goals
⚠️ Consider Instead If:
- • You have 10+ years until retirement → Balanced funds
- • You want higher long-term returns → Growth funds
- • You're comfortable with volatility → Growth funds
All Conservative Funds Ranked by Performance
| Rank | Fund Name | Provider | 5-Year Return | Fees | Risk | Members |
|---|---|---|---|---|---|---|
| #1 | Milford Kiwisaver Moderate Fund | Milford | 3.63% | 0.95% | 3/7 | 7k |
| #2 | Conservative Portfolio | Maritime | 3.53% | 0.61% | 4/7 | 0k |
| #3 | Quaystreet Conservative Fund | Smartshares | 3.53% | 0.86% | 3/7 | 0k |
| #4 | Default Conservative Fund | Fisher | 3.34% | 0.51% | 3/7 | 73k |
| #5 | Socially Responsible Moderate Fund | Booster | 2.81% | 1.21% | 4/7 | 3k |
| #6 | Conservative Fund | SuperEasy | 2.74% | 0.51% | 3/7 | 0k |
| #7 | Automatic Fund (Age 80) | SuperEasy | 2.73% | 0.51% | 3/7 | 0k |
| #8 | Conservative Fund | Westpac | 2.72% | 0.40% | 3/7 | 140k |
| #9 | Pathfinder Kiwisaver Conservative Fund | Pathfinder | 2.71% | 1.01% | 3/7 | 1k |
| #10 | Capital Guaranteed Fund | Booster | 2.63% | 1.03% | 2/7 | 8k |
| #11 | BNZ Kiwisaver First Home Buyer Fund | BNZ | 2.62% | 0.45% | 3/7 | 19k |
| #12 | Milford Kiwisaver Conservative Fund | Milford | 2.57% | 0.85% | 3/7 | 9k |
| #13 | Defensive Conservative Fund | Westpac | 2.57% | 0.40% | 3/7 | 13k |
| #14 | Superlife Conservative Fund | Smartshares | 2.54% | 0.67% | 4/7 | 1k |
| #15 | Conservative Fund | Smartshares | 2.54% | 1.22% | 3/7 | 0k |
| #16 | Lifestages Auto Option Age 65+ | SBS | 2.52% | 0.96% | 3/7 | 0k |
| #17 | Goalsgetter Amova Conservative Fund | Nikko | 2.52% | 1.05% | 3/7 | 0k |
| #18 | Conservative Fund | Fisher | 2.45% | 0.87% | 4/7 | 70k |
| #19 | Conservative Fund | MAS | 2.44% | 0.85% | 3/7 | 2k |
| #20 | Responsible Conservative Fund | Mercer | 2.35% | 0.49% | 3/7 | 21k |
| #21 | Conservative Fund | ASB | 2.33% | 0.40% | 3/7 | 130k |
| #22 | AMP Conservative Fund (Lifesteps) | AMP | 2.28% | 0.84% | 3/7 | 5k |
| #23 | AMP Conservative Fund | AMP | 2.28% | 0.84% | 3/7 | 11k |
| #24 | Moderate Fund | Booster | 2.23% | 1.08% | 3/7 | 12k |
| #25 | Summer Conservative | Summer | 2.17% | 0.75% | N/A | 0k |
| #26 | BNZ Kiwisaver Conservative Fund | BNZ | 2.09% | 0.45% | 3/7 | 33k |
| #27 | Conservative Fund | Mercer | 2.03% | 0.67% | 3/7 | 1k |
| #28 | Conservative Fund | ANZ | 2.01% | 0.60% | 3/7 | 14k |
| #29 | Conservative Fund | ANZ | 2.01% | 0.60% | 3/7 | 41k |
| #30 | Global Select Conservative Fund | AMP | 1.91% | 1.08% | 3/7 | 1k |
| #31 | Conservative Fund | Simplicity | 1.80% | 0.25% | 1/7 | 3k |
| #32 | Pie Kiwisaver Conservative Fund | Pie | 1.72% | 0.69% | 3/7 | 1k |
| #33 | Investnow Mint Diversified Income Fund | Fundrock | 1.35% | 0.98% | 4/7 | 1k |
| #34 | Asset Class Conservative Fund | Booster | 0.93% | 1.12% | 4/7 | 1k |
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Compare All FundsData source: FMA KiwiSaver Quarterly Reports, provider Product Disclosure Statements. Last updated: May 2026.
Disclaimer: Past performance does not guarantee future results. This is not financial advice. Consult a licensed financial adviser before making investment decisions.
