Lowest-fee Balanced KiwiSaver scheme funds
77 Balanced KiwiSaver scheme funds in our coverage, with annual fees ranging from 0.00% to 4.26% (median 0.85%).
KiwiSaver scheme funds classified as Balanced (typically 50-70% growth assets).
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
Ranked by annual fee (lowest first)
| # | Fund | Scheme | Annual fee | 1y return | 5y avg | Fund size |
|---|---|---|---|---|---|---|
| 1 | Balanced Fund | NZ Funds | 0.00% | 7.84% | 5.78% | $17M |
| 2 | Superlife Default Fund | Smartshares | 0.20% | 11.73% | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $786M |
| 3 | Default Fund | Simplicity | 0.24% | 12.14% | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $729M |
| 4 | Balanced Fund | Simplicity | 0.24% | 12.22% | 5.28% | $884M |
| 5 | Kernel Balanced Fund | Kernel | 0.25% | 10.51% | No 5-year average return figure held. Recorded fund start date 7 November 2022 is less than five years before March 2026. | $210M |
| 6 | Balanced Fund | SuperEasy | 0.32% | 7.31% | 3.96% | $22M |
| 7 | Default Saver Fund | Booster | 0.35% | 7.28% | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $771M |
| 8 | BNZ Kiwisaver Default Fund | BNZ | 0.35% | 12.84% | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $914M |
| 9 | Default Fund | Fisher | 0.36% | 14.00% | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $1115M |
| 10 | Investnow Foundation Series Balanced Fund | Fundrock | 0.36% | 6.48% | 4.77% | $15M |
| 11 | Aurora Balanced Strategy | Fundrock | 0.38% | 8.05% | No 5-year average return figure held. Recorded fund start date 21 August 2023 is less than five years before March 2026. | $18M |
| 12 | Default Balanced Fund | Westpac | 0.40% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 1 December 2021 is less than five years before March 2026. | $999M |
| 13 | Moderate Fund | Westpac | 0.40% | No 1-year return figure held for this fund. | 3.80% | $937M |
| 14 | BNZ Kiwisaver Balanced Fund | BNZ | 0.45% | 12.21% | 5.35% | $1037M |
| 15 | BNZ Kiwisaver Moderate Fund | BNZ | 0.45% | 8.76% | 3.97% | $877M |
| 16 | Balanced Fund | Westpac | 0.50% | No 1-year return figure held for this fund. | 5.19% | $2289M |
| 17 | Sharesies Smartshares Balanced Fund | Sharesies | 0.50% | 13.43% | No 5-year average return figure held. Recorded fund start date 25 January 2023 is less than five years before March 2026. | $58M |
| 18 | Automatic Fund (Age 60) | SuperEasy | 0.51% | No 1-year return figure held for this fund. | 5.08% | $15M |
| 19 | Superlife Age Steps - Age 70 | Smartshares | 0.58% | 9.54% | 3.59% | $4M |
| 20 | Moderate Fund | ASB | 0.60% | No 1-year return figure held for this fund. | 3.67% | $3112M |
| 21 | Superlife Age Steps - Age 60 | Smartshares | 0.60% | 12.94% | 4.98% | $26M |
| 22 | Sustainable Moderate Fund | Mercer | 0.66% | No 1-year return figure held for this fund. | 3.76% | $235M |
| 23 | Pie Kiwisaver Balanced Fund | Pie | 0.69% | 13.41% | 3.07% | $60M |
| 24 | Ethica Fund | Smartshares | 0.70% | 12.42% | 5.16% | $78M |
| 25 | Balanced Portfolio | Maritime | 0.70% | 5.06% | 6.20% | $17M |
| 26 | Superlife Balanced Fund | Smartshares | 0.70% | 8.20% | 4.28% | $83M |
| 27 | Balanced Fund | Consilium | 0.70% | No 1-year return figure held. Recorded fund start date 15 April 2025 is less than one year before March 2026. | No 5-year average return figure held. Recorded fund start date 15 April 2025 is less than five years before March 2026. | $4M |
| 28 | Moderate Fund | Mercer | 0.71% | 8.90% | 2.97% | $9M |
| 29 | Balanced Fund | Mercer | 0.72% | 12.95% | 3.95% | $132M |
| 30 | Conservative Balanced Fund | ANZ | 0.73% | No 1-year return figure held for this fund. | 3.10% | $203M |
| 31 | Conservative Balanced Fund | ANZ | 0.73% | No 1-year return figure held for this fund. | 3.10% | $1758M |
| 32 | Balanced Strategy | Koura | 0.73% | 16.79% | No 5-year average return figure held. Recorded fund start date 15 April 2024 is less than five years before March 2026. | $0M |
| 33 | Sustainable Balanced Fund | Mercer | 0.75% | No 1-year return figure held for this fund. | 5.35% | $662M |
| 34 | AMP Moderate Fund (Lifesteps) | AMP | 0.84% | No 1-year return figure held for this fund. | 3.55% | $611M |
| 35 | AMP Moderate Fund | AMP | 0.84% | No 1-year return figure held for this fund. | 3.55% | $837M |
| 36 | AMP Moderate Balanced Fund | AMP | 0.84% | No 1-year return figure held for this fund. | 4.48% | $987M |
| 37 | AMP Moderate Balanced Fund (Lifesteps) | AMP | 0.84% | 7.87% | 3.78% | $583M |
| 38 | AMP Balanced Fund No. 2 | AMP | 0.85% | No 1-year return figure held for this fund. | 6.20% | $43M |
| 39 | AMP Balanced Fund (Lifesteps) | AMP | 0.85% | 8.96% | 4.11% | $349M |
| 40 | AMP Balanced Fund | AMP | 0.85% | No 1-year return figure held for this fund. | 4.55% | $1388M |
| 41 | Balanced Fund | ANZ | 0.88% | No 1-year return figure held for this fund. | 4.20% | $625M |
| 42 | Balanced Fund | ANZ | 0.88% | No 1-year return figure held for this fund. | 4.20% | $3810M |
| 43 | Summer Balanced Selection | Summer | 0.90% | 7.87% | 3.65% | $129M |
| 44 | Moderate Fund | MAS | 0.95% | No 1-year return figure held for this fund. | 3.89% | $89M |
| 45 | Balanced Fund | MAS | 0.99% | No 1-year return figure held for this fund. | 5.48% | $410M |
| 46 | Lifestages Auto Option Age 60 - 64 | SBS | 0.99% | No 1-year return figure held for this fund. | 3.67% | $28M |
| 47 | Lifestages Auto Option Age 55 - 59 | SBS | 1.05% | No 1-year return figure held for this fund. | 5.53% | $33M |
| 48 | Milford Kiwisaver Balanced Fund | Milford | 1.05% | 5.73% | 5.04% | $2579M |
| 49 | Investnow Milford Balanced Fund | Fundrock | 1.06% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $31M |
| 50 | Superlife Moderate Fund | AMP | 1.07% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $32M |
| 51 | Balanced Fund | Fisher | 1.11% | 5.60% | 3.82% | $4310M |
| 52 | Quaystreet Balanced Fund | Smartshares | 1.12% | No 1-year return figure held for this fund. | 7.71% | $101M |
| 53 | Superlife Balanced Fund | AMP | 1.12% | No 1-year return figure held for this fund. | 5.27% | $42M |
| 54 | Quaystreet Socially Responsible Investment Fund | Smartshares | 1.12% | No 1-year return figure held for this fund. | 7.76% | $18M |
| 55 | Glidepath Age 55 | Fisher | 1.13% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 26 March 2025 is less than five years before March 2026. | $1M |
| 56 | Moderate Fund | Generate | 1.14% | 8.24% | 4.50% | $838M |
| 57 | Investnow Castle Point 5 Oceans Fund | Fundrock | 1.18% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $0M |
| 58 | Balanced Fund | Booster | 1.19% | No 1-year return figure held for this fund. | 4.87% | $23M |
| 59 | Balanced Fund | Generate | 1.24% | 11.26% | No 5-year average return figure held. Recorded fund start date 16 May 2022 is less than five years before March 2026. | $500M |
| 60 | Pathfinder Kiwisaver Balanced Fund | Pathfinder | 1.25% | 6.72% | 4.79% | $141M |
| 61 | Mercer Balanced Fund | AMP | 1.26% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $58M |
| 62 | Stepping Stones 61-64 | Generate | 1.26% | No 1-year return figure held for this fund. | 4.88% | $28M |
| 63 | Stepping Stones Growth 61-75 | Generate | 1.26% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 16 May 2022 is less than five years before March 2026. | $30M |
| 64 | Investnow Mercer Ethical Leaders Balanced Fund | Fundrock | 1.27% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $1M |
| 65 | Stepping Stones 56-60 | Generate | 1.30% | No 1-year return figure held for this fund. | 5.49% | $38M |
| 66 | Asset Class Balanced Fund | Booster | 1.32% | 8.23% | 3.84% | $23M |
| 67 | Socially Responsible Balanced Fund | Booster | 1.33% | No 1-year return figure held for this fund. | 5.25% | $441M |
| 68 | Balanced Fund | Anglican | 1.35% | No 1-year return figure held for this fund. | 6.06% | $58M |
| 69 | Stepping Stones Growth 56-60 | Generate | 1.36% | No 1-year return figure held for this fund. | 6.15% | $34M |
| 70 | Stepping Stones 46-55 | Generate | 1.36% | No 1-year return figure held for this fund. | 6.15% | $73M |
| 71 | Quaystreet Altum Fund | Smartshares | 1.37% | No 1-year return figure held for this fund. | 7.12% | $6M |
| 72 | Milford Balanced Fund | AMP | 1.43% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 23 February 2022 is less than five years before March 2026. | $72M |
| 73 | Goalsgetter Milford Balanced Fund | Nikko | 1.49% | 10.79% | No 5-year average return figure held. Recorded fund start date 9 May 2024 is less than five years before March 2026. | $3M |
| 74 | Aurora Retirementplus Age 65 | Fundrock | 1.49% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 1 September 2021 is less than five years before March 2026. | $2M |
| 75 | Goalsgetter Harbour Sustainable Impact Fund | Nikko | 1.61% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 9 May 2024 is less than five years before March 2026. | $0M |
| 76 | Goalsgetter Generate Balanced Fund | Nikko | 1.65% | No 1-year return figure held for this fund. | No 5-year average return figure held. Recorded fund start date 9 May 2024 is less than five years before March 2026. | $2M |
| 77 | AE Kiwisaver Plan | Always Ethical | 4.26% | 22.03% | 7.42% | $103M |
About “—” in return figures: it means no figure is held, not a return of zero. Of the 77 funds listed, 34 have a 1-year return and 53 have a 5-year average return. Figures are drawn from fund disclosures on the FMA Disclose register, chiefly quarterly fund updates. Each fund shows the most recent figure held, with 1-year returns up to June 2026; the latest quarter broadly covered across all funds is March 2026. A fund too new to report a period has no figure for it; other gaps are figures not yet captured from the updates ingested so far.
Sourced from each scheme's most recent FMA-filed Quarterly Fund Update. Annual-fee ranking is mechanical — does not factor in returns, risk, manager skill, or asset-allocation differences. Past performance is not a reliable indicator of future returns.
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Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
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