2
Risk Level 2 KiwiSaver Scheme Funds
Very Low Risk (Conservative)
Risk Level 2 funds maintain very low volatility with 0-20% in growth assets and 80-100% in income assets. Compare all 13 funds ranked by 5-year returns.
Total Funds
13
Risk Level 2
Average Return
2.34%
5-year average
Average Fees
0.45%
Annual fees
Time Horizon
2-5 years
Recommended
Risk Level 2 Details
✓Suited to:
- • First home buyers (2-3 years away)
- • Near-retirees (2-5 years)
- • Very conservative investors
Volatility: Very low - Rare small losses possible
⚠Not Suitable For:
- • Investors with 10+ years to retirement
- • Those wanting higher returns
- • Aggressive growth seekers
All Risk Level 2 Funds Ranked by Performance
| Rank | Fund Name | Provider | Fund Type | 5-Year Return | Fees | Members |
|---|---|---|---|---|---|---|
| #1 | Capital Guaranteed Fund | Booster | Conservative | 2.63% | 1.03% | 8k |
| #2 | Goalsgetter Amova Nz Cash Fund | Nikko | Defensive | 2.63% | 0.40% | 0k |
| #3 | BNZ Kiwisaver Cash Fund | BNZ | Defensive | 2.53% | 0.30% | 16k |
| #4 | Investnow Macquarie Nz Cash Fund | Fundrock | Defensive | 2.50% | 0.30% | 0k |
| #5 | Nz Cash Fund | Smartshares | Defensive | 2.41% | 0.62% | 3k |
| #6 | Cash Fund | Westpac | Defensive | 2.38% | 0.25% | 37k |
| #7 | Cash Fund | ANZ | Defensive | 2.32% | 0.22% | 2k |
| #8 | Cash Fund | ANZ | Defensive | 2.32% | 0.22% | 47k |
| #9 | Nz Cash Fund | ASB | Defensive | 2.18% | 0.35% | 37k |
| #10 | AMP Cash Fund | AMP | Defensive | 2.17% | 0.65% | 3k |
| #11 | Cash Fund | Mercer | Defensive | 2.16% | 0.32% | 1k |
| #12 | Enhanced Cash Fund | Booster | Defensive | 2.09% | 0.75% | 5k |
| #13 | Cash Fund | Mercer | Defensive | 2.05% | 0.43% | 0k |
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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.
