Lowest-fee Default KiwiSaver scheme funds
6 Default KiwiSaver scheme funds in our coverage, with annual fees ranging from 0.20% to 0.40% (median 0.35%).
The default fund of each of the six government-appointed default KiwiSaver scheme providers, where members who do not choose a scheme are placed.
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 | 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 |
| 2 | 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 |
| 3 | 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 |
| 4 | 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 |
| 5 | 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 |
| 6 | 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 |
About “—” in return figures: it means no figure is held, not a return of zero. Of the 6 funds listed, 5 have a 1-year return and 0 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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Important Information
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.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
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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