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4

Risk Level 4 KiwiSaver Scheme Funds

Medium Risk (Balanced)

Risk Level 4 funds offer true balance with 40-60% in growth assets, providing moderate growth potential with reasonable stability. Compare all 100 funds ranked by 5-year returns.

Total Funds
100
Risk Level 4
Average Return
5.20%
5-year average
Average Fees
0.87%
Annual fees
Time Horizon
10-15 years
Recommended

Risk Level 4 Details

✓Suited to:

  • • Investors 10-15 years from retirement
  • • Moderate risk tolerance
  • • Ages 45-60 typically
Volatility: Medium - Moderate losses possible

⚠Not Suitable For:

  • • Near-retirees (under 5 years)
  • • First home buyers
  • • Very long-term investors seeking maximum growth

All Risk Level 4 Funds Ranked by Performance

RankFund NameProviderFund Type5-Year ReturnFeesMembers
#1Asia Pacific FundSmartsharesAggressive12.80%0.59%1k
#2Quaystreet Growth FundSmartsharesGrowth9.53%1.37%3k
#3Growth FundSmartsharesGrowth9.04%0.61%2k
#4Growth FundAnglicanGrowth8.78%1.50%1k
#5Sustainable High Growth FundMercerAggressive8.33%0.89%8k
#6Automatic Fund (Age 40)SuperEasyGrowth8.08%0.51%0k
#7Stepping Stones Growth 51-55GenerateGrowth7.96%1.39%1k
#8Stepping Stones 36-45GenerateGrowth7.96%1.39%2k
#9Quaystreet Socially Responsible Investment FundSmartsharesBalanced7.76%1.12%0k
#10Quaystreet Balanced FundSmartsharesBalanced7.71%1.12%1k
#11Aggressive FundSuperEasyGrowth7.51%0.32%1k
#12Growth FundASBGrowth7.50%0.70%149k
#13Growth FundSimplicityGrowth7.23%0.24%45k
#14Quaystreet Altum FundSmartsharesBalanced7.12%1.37%0k
#15Growth FundMASGrowth7.10%0.98%6k
#16Sustainable Growth FundMercerGrowth7.04%0.84%6k
#17Superlife Growth FundAMPGrowth7.00%1.17%4k
#18Shielded Growth FundBoosterAggressive7.00%1.41%1k
#19Global Select Growth FundAMPGrowth6.85%1.27%5k
#20BNZ Kiwisaver Growth FundBNZGrowth6.81%0.45%54k
#21Growth FundGenerateGrowth6.74%1.25%53k
#22AMP Aggressive FundAMPAggressive6.70%0.85%30k
#23AMP Aggressive Fund (Lifesteps)AMPAggressive6.70%0.85%13k
#24Superlife Age Steps - Age 40SmartsharesGrowth6.67%0.62%0k
#25Superlife Age Steps - Age 30SmartsharesGrowth6.67%0.62%0k
#26Milford Kiwisaver Active Growth FundMilfordGrowth6.60%1.05%107k
#27Growth FundWestpacGrowth6.56%0.55%115k
#28Balanced FundSmartsharesGrowth6.45%0.60%1k
#29Growth FundBoosterGrowth6.42%1.35%25k
#30AMP Balanced Fund No. 2AMPBalanced6.20%0.85%2k
#31Balanced PortfolioMaritimeBalanced6.20%0.70%0k
#32Stepping Stones Growth 56-60GenerateBalanced6.15%1.36%0k
#33Stepping Stones 46-55GenerateBalanced6.15%1.36%2k
#34Balanced FundAnglicanBalanced6.06%1.35%2k
#35AMP Growth Fund (Lifesteps)AMPGrowth5.90%0.85%10k
#36Balanced FundNZ FundsBalanced5.78%0.00%0k
#37High Growth FundBoosterAggressive5.71%1.30%29k
#38Balanced FundASBGrowth5.71%0.65%102k
#39Global Select Balanced Growth FundAMPGrowth5.65%1.18%6k
#40Pathfinder Kiwisaver Growth FundPathfinderGrowth5.56%1.37%8k
#41Lifestages Auto Option Age 55 - 59SBSBalanced5.53%1.05%1k
#42Superlife Growth FundSmartsharesGrowth5.50%0.71%2k
#43Stepping Stones 56-60GenerateBalanced5.49%1.30%1k
#44Balanced FundMASBalanced5.48%0.99%5k
#45Balanced Growth FundANZGrowth5.37%0.92%8k
#46Balanced Growth FundANZGrowth5.37%0.92%98k
#47Sustainable Balanced FundMercerBalanced5.35%0.75%12k
#48BNZ Kiwisaver Balanced FundBNZBalanced5.35%0.45%25k
#49Balanced FundSimplicityBalanced5.28%0.24%15k
#50Superlife Balanced FundAMPBalanced5.27%1.12%1k
#51Socially Responsible Balanced FundBoosterBalanced5.25%1.33%12k
#52Balanced FundWestpacBalanced5.19%0.50%78k
#53Ethica FundSmartsharesBalanced5.16%0.70%1k
#54Growth FundMercerGrowth5.14%0.79%2k
#55Superlife Age Steps - Age 50SmartsharesGrowth5.12%0.71%0k
#56Automatic Fund (Age 60)SuperEasyBalanced5.08%0.51%0k
#57Milford Kiwisaver Balanced FundMilfordBalanced5.04%1.05%34k
#58Superlife Age Steps - Age 60SmartsharesBalanced4.98%0.60%0k
#59Balanced FundBoosterBalanced4.87%1.31%32k
#60Growth FundSuperEasyGrowth4.83%0.32%1k
#61Summer Growth SelectionSummerGrowth4.80%0.89%2k
#62Pathfinder Kiwisaver Balanced FundPathfinderBalanced4.79%1.25%3k
#63Investnow Foundation Series Balanced FundFundrockBalanced4.77%0.36%1k
#64AMP Balanced FundAMPBalanced4.55%0.85%26k
#65AMP Moderate Balanced FundAMPBalanced4.48%0.84%17k
#66Goalsgetter Amova Balanced FundNikkoGrowth4.47%1.22%0k
#67Superlife Balanced FundSmartsharesBalanced4.28%0.70%1k
#68Balanced FundANZBalanced4.20%0.88%86k
#69Balanced FundANZBalanced4.20%0.88%8k
#70AMP Balanced Fund (Lifesteps)AMPBalanced4.11%0.85%9k
#71BNZ Kiwisaver Moderate FundBNZBalanced3.97%0.45%27k
#72Balanced FundSuperEasyBalanced3.96%0.32%0k
#73Balanced FundMercerBalanced3.95%0.72%3k
#74Moderate FundMASBalanced3.89%0.95%1k
#75Asset Class Balanced FundBoosterBalanced3.84%1.32%1k
#76Balanced FundFisherBalanced3.82%1.11%101k
#77Moderate FundWestpacBalanced3.80%0.40%35k
#78AMP Moderate Balanced Fund (Lifesteps)AMPBalanced3.78%0.84%10k
#79Sustainable Moderate FundMercerBalanced3.76%0.66%5k
#80Moderate FundASBBalanced3.67%0.60%73k
#81Lifestages Auto Option Age 60 - 64SBSBalanced3.67%0.99%1k
#82Summer Balanced SelectionSummerBalanced3.65%0.90%2k
#83Superlife Age Steps - Age 70SmartsharesBalanced3.59%0.58%0k
#84AMP Moderate FundAMPBalanced3.55%0.84%13k
#85AMP Moderate Fund (Lifesteps)AMPBalanced3.55%0.84%9k
#86Conservative PortfolioMaritimeConservative3.53%0.61%0k
#87Conservative Balanced FundANZBalanced3.10%0.73%41k
#88Conservative Balanced FundANZBalanced3.10%0.73%3k
#89Pie Kiwisaver Balanced FundPieBalanced3.07%0.69%1k
#90Moderate FundMercerBalanced2.97%0.71%0k
#91Socially Responsible Moderate FundBoosterConservative2.81%1.21%3k
#92Superlife Conservative FundSmartsharesConservative2.54%0.67%1k
#93Conservative FundFisherConservative2.49%0.90%53k
#94Quaystreet New Zealand Equity FundSmartsharesAggressive2.21%1.37%1k
#95Summer New Zealand EquitiesSummerAggressive1.98%0.90%1k
#96Income StrategyNZ FundsDefensive1.85%1.12%23k
#97Investnow Mint Diversified Income FundFundrockConservative1.45%1.01%1k
#98Asset Class Conservative FundBoosterConservative0.93%1.11%1k
#99Overseas Non-Government Bonds FundSmartsharesDefensive-0.14%0.54%1k
#100International Fixed Interest FundANZDefensive-0.87%0.49%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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