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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 44 funds ranked by 5-year returns.

Total Funds
44
Risk Level 3
Average Return
1.88%
5-year average
Average Fees
0.77%
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
#1Stepping Stones 61-64GenerateBalanced4.88%1.26%0k
#2Milford Kiwisaver Moderate FundMilfordConservative3.63%0.95%7k
#3Moderate FundGenerateBalanced3.54%1.26%23k
#4Quaystreet Conservative FundSmartsharesConservative3.53%0.86%0k
#5Castle Point 5 Oceans FundSmartsharesAggressive3.51%1.28%0k
#6Default Conservative FundFisherConservative3.34%0.51%73k
#7Conservative FundSuperEasyConservative2.74%0.51%0k
#8Automatic Fund (Age 80)SuperEasyConservative2.73%0.51%0k
#9Conservative FundWestpacConservative2.72%0.40%140k
#10Pathfinder Kiwisaver Conservative FundPathfinderConservative2.71%1.01%1k
#11BNZ Kiwisaver First Home Buyer FundBNZConservative2.62%0.45%19k
#12Milford Kiwisaver Conservative FundMilfordConservative2.57%0.85%9k
#13Defensive Conservative FundWestpacConservative2.57%0.40%13k
#14Conservative FundSmartsharesConservative2.54%1.22%0k
#15Goalsgetter Amova Conservative FundNikkoConservative2.52%1.05%0k
#16Lifestages Auto Option Age 65+SBSConservative2.52%0.96%0k
#17Conservative FundMASConservative2.44%0.85%2k
#18Responsible Conservative FundMercerConservative2.35%0.49%21k
#19Conservative FundASBConservative2.33%0.40%130k
#20AMP Conservative FundAMPConservative2.28%0.84%11k
#21AMP Conservative Fund (Lifesteps)AMPConservative2.28%0.84%5k
#22Moderate FundBoosterConservative2.23%1.08%12k
#23Bcf Kiwisaver SchemeArotahiDefensive2.16%0.76%1k
#24BNZ Kiwisaver Conservative FundBNZConservative2.09%0.45%33k
#25Conservative FundMercerConservative2.03%0.67%1k
#26Conservative FundANZConservative2.01%0.60%41k
#27Conservative FundANZConservative2.01%0.60%14k
#28Global Select Conservative FundAMPConservative1.91%1.08%1k
#29Quaystreet Income FundSmartsharesDefensive1.78%0.87%0k
#30Quaystreet Fixed Interest FundSmartsharesDefensive1.73%0.86%0k
#31Pie Kiwisaver Conservative FundPieConservative1.72%0.69%1k
#32Income FundAnglicanDefensive1.46%0.80%0k
#33Nz Bonds FundSmartsharesDefensive1.45%0.64%2k
#34Goalsgetter Amova Nz Corporate Bond FundNikkoDefensive1.16%0.80%0k
#35Superlife Age Steps - Age 80SmartsharesDefensive0.95%0.66%0k
#36New Zealand Fixed Interest FundKouraDefensive0.68%0.73%7k
#37Superlife Income FundSmartsharesDefensive0.34%0.66%16k
#38New Zealand Fixed Interest FundANZDefensive0.15%0.34%0k
#39SBS Wealth Income FundSBSDefensive-0.04%0.87%1k
#40Overseas Bonds FundSmartsharesDefensive-0.05%0.69%1k
#41S&P/Nzx Nz Government Bond FundSmartsharesDefensive-0.14%0.64%0k
#42AMP Global Fixed Interest FundAMPDefensive-0.81%0.84%0k
#43AMP Nz Fixed Interest FundAMPDefensive-0.90%0.86%0k
#44Global Aggregate Bond FundSmartsharesDefensive-1.53%0.69%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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Compare every fund on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.

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