1
Risk Level 1 KiwiSaver Scheme Funds
Lowest Risk (Defensive)
Risk Level 1 funds have the lowest volatility with minimal exposure to growth assets. They invest primarily in cash and fixed income securities. Compare all 7 funds ranked by 5-year returns.
Total Funds
7
Risk Level 1
Average Return
3.13%
5-year average
Average Fees
0.34%
Annual fees
Time Horizon
1-3 years (first home buyers, near-retirees)
Recommended
Risk Level 1 Details
✓Suited to:
- • First home buyers needing money within 1-3 years
- • People retiring within 1-2 years
- • Extremely risk-averse investors
Volatility: Minimal - Very stable with rare negative returns
⚠Not Suitable For:
- • Long-term investors (10+ years)
- • Those seeking growth
- • Young investors in their 20s-30s
All Risk Level 1 Funds Ranked by Performance
| Rank | Fund Name | Provider | Fund Type | 5-Year Return | Fees | Members |
|---|---|---|---|---|---|---|
| #1 | Growth Fund | Simplicity | Growth | 6.01% | 0.25% | 44k |
| #2 | Balanced Fund | Simplicity | Balanced | 4.35% | 0.25% | 14k |
| #3 | Cash Fund | Fisher | Defensive | 2.68% | 0.45% | 22k |
| #4 | Milford Kiwisaver Cash Fund | Milford | Defensive | 2.55% | 0.20% | 4k |
| #5 | Cash Fund | MAS | Defensive | 2.33% | 0.25% | 0k |
| #6 | New Zealand Cash Fund | Koura | Defensive | 2.20% | 0.73% | 1k |
| #7 | Conservative Fund | Simplicity | Conservative | 1.80% | 0.25% | 3k |
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Compare All FundsData source: FMA KiwiSaver Quarterly Reports, provider Product Disclosure Statements. Last updated: May 2026.
Disclaimer: Risk indicators are provided by fund managers and reflect potential volatility. Past performance does not guarantee future results. This is not financial advice. Consult a licensed financial adviser before making investment decisions.
