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Risk Level 3 KiwiSaver Scheme Funds

Low Risk (Conservative to Balanced)

Risk Level 3 funds balance stability with modest growth, typically holding 20-40% in growth assets. Compare all 49 funds ranked by 5-year returns.

Total Funds
49
Risk Level 3
Average Return
2.03%
5-year average
Average Fees
0.73%
Annual fees
Time Horizon
5-10 years
Recommended

Risk Level 3 Details

✓Suited to:

  • • Investors 5-10 years from retirement
  • • Moderate risk-averse individuals
  • • Transitioning from conservative to balanced
Volatility: Low - Small losses possible in bad years

⚠Not Suitable For:

  • • Very short-term needs (under 5 years)
  • • Long-term aggressive growth seekers
  • • First home buyers within 2 years

All Risk Level 3 Funds Ranked by Performance

RankFund NameProviderFund Type5-Year ReturnFeesMembers
#1Milford Conservative FundAMPConservative7.19%1.33%0k
#2Stepping Stones 61-64GenerateBalanced4.88%1.26%0k
#3Moderate FundGenerateBalanced4.50%1.14%23k
#4Castle Point 5 Oceans FundSmartsharesAggressive4.25%1.26%0k
#5Milford Kiwisaver Moderate FundMilfordConservative3.80%0.95%7k
#6Quaystreet Conservative FundSmartsharesConservative3.53%0.86%0k
#7Default Conservative FundFisherConservative3.34%0.51%73k
#8Conservative FundSmartsharesConservative3.06%0.57%1k
#9Milford Kiwisaver Conservative FundMilfordConservative2.76%0.85%9k
#10Automatic Fund (Age 80)SuperEasyConservative2.73%0.51%0k
#11Conservative FundWestpacConservative2.72%0.40%140k
#12Pathfinder Kiwisaver Conservative FundPathfinderConservative2.71%1.01%1k
#13BNZ Kiwisaver First Home Buyer FundBNZConservative2.62%0.45%19k
#14Defensive Conservative FundWestpacConservative2.57%0.40%13k
#15Goalsgetter Amova Conservative FundNikkoConservative2.52%1.05%0k
#16Lifestages Auto Option Age 65+SBSConservative2.52%0.96%0k
#17BNZ Kiwisaver Conservative FundBNZConservative2.49%0.45%32k
#18Summer ConservativeSummerConservative2.47%0.75%0k
#19Conservative FundMASConservative2.44%0.85%2k
#20Responsible Conservative FundMercerConservative2.35%0.49%21k
#21Conservative FundASBConservative2.33%0.40%130k
#22AMP Conservative FundAMPConservative2.28%0.84%11k
#23AMP Conservative Fund (Lifesteps)AMPConservative2.28%0.84%5k
#24Conservative FundSuperEasyConservative2.27%0.32%0k
#25Moderate FundBoosterConservative2.23%1.08%0k
#26Pie Kiwisaver Conservative FundPieConservative2.16%0.69%1k
#27Bcf Kiwisaver SchemeArotahiDefensive2.16%0.76%1k
#28Conservative FundSimplicityConservative2.12%0.24%3k
#29Conservative FundMercerConservative2.03%0.69%1k
#30Conservative FundANZConservative2.01%0.60%41k
#31Conservative FundANZConservative2.01%0.60%14k
#32Global Select Conservative FundAMPConservative1.91%1.08%1k
#33Nz Bonds FundSmartsharesDefensive1.77%0.54%2k
#34Quaystreet Fixed Interest FundSmartsharesDefensive1.73%0.86%0k
#35Summer New Zealand Fixed InterestSummerDefensive1.61%0.75%0k
#36Income FundAnglicanDefensive1.46%0.80%0k
#37Superlife Age Steps - Age 80SmartsharesDefensive1.25%0.56%0k
#38Goalsgetter Amova Nz Corporate Bond FundNikkoDefensive1.16%0.80%0k
#39New Zealand Fixed Interest FundKouraDefensive0.68%0.73%7k
#40Quaystreet Income FundSmartsharesDefensive0.49%0.56%16k
#41Summer Global Fixed InterestSummerDefensive0.42%0.75%0k
#42Superlife Income FundSmartsharesDefensive0.34%0.66%16k
#43Overseas Bonds FundSmartsharesDefensive0.33%0.59%1k
#44New Zealand Fixed Interest FundANZDefensive0.15%0.34%0k
#45SBS Wealth Income FundSBSDefensive-0.04%0.87%1k
#46S&P/Nzx Nz Government Bond FundSmartsharesDefensive-0.14%0.64%0k
#47AMP Global Fixed Interest FundAMPDefensive-0.81%0.84%0k
#48AMP Nz Fixed Interest FundAMPDefensive-0.90%0.86%0k
#49Global Aggregate Bond FundSmartsharesDefensive-1.46%0.59%0k

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Data 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.

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