Lowest-fee Index-tracking KiwiSaver scheme funds
23 Index-tracking KiwiSaver scheme funds in our coverage, with annual fees ranging from 0.24% to 0.45% (median 0.25%).
Funds from index-based providers (Simplicity, Kernel) and funds named "Index", which track a market index rather than selecting investments actively.
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 | Defensive Fund | Simplicity | 0.24% | 2.31% | No 5-year average return figure held. Recorded fund start date 28 April 2023 is less than five years before March 2026. | $94M |
| 2 | High Growth Fund | Simplicity | 0.24% | 19.57% | No 5-year average return figure held. Recorded fund start date 28 April 2023 is less than five years before March 2026. | $1914M |
| 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 | Conservative Fund | Simplicity | 0.24% | 5.31% | 2.12% | $207M |
| 5 | Balanced Fund | Simplicity | 0.24% | 12.22% | 5.28% | $884M |
| 6 | Growth Fund | Simplicity | 0.24% | 16.36% | 7.23% | $3109M |
| 7 | Kernel Nz Small & Mid Cap Opportunities Fund | Kernel | 0.25% | 11.94% | -1.93% | $45M |
| 8 | Kernel S&P Global Dividend Aristocrats Fund | Kernel | 0.25% | 13.80% | 9.63% | $5M |
| 9 | Kernel High Growth Fund | Kernel | 0.25% | 15.79% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $1062M |
| 10 | Kernel Nz 50 Esg Tilted Fund | Kernel | 0.25% | 4.98% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $55M |
| 11 | Kernel S&P 500 (Unhedged) Fund | Kernel | 0.25% | 15.10% | No 5-year average return figure held. Recorded fund start date 11 November 2024 is less than five years before March 2026. | $28M |
| 12 | Kernel S&P 500 (Nzd Hedged) Fund | Kernel | 0.25% | 12.56% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $140M |
| 13 | Kernel Nz 20 Fund | Kernel | 0.25% | 3.01% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $263M |
| 14 | Kernel Nz Commercial Property Fund | Kernel | 0.25% | 7.45% | -2.75% | $140M |
| 15 | Kernel Global Esg (Nzd Hedged) Fund | Kernel | 0.25% | 14.23% | No 5-year average return figure held. Recorded fund start date 3 July 2023 is less than five years before March 2026. | $436M |
| 16 | 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 |
| 17 | Kernel Global Property (Nzd Hedged) Fund | Kernel | 0.25% | 4.00% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $251M |
| 18 | Kernel Cash Plus Fund | Kernel | 0.25% | 2.56% | No 5-year average return figure held. Recorded fund start date 7 November 2022 is less than five years before March 2026. | $249M |
| 19 | Kernel Us Bond Fund | Kernel | 0.30% | 0.98% | No 5-year average return figure held. Recorded fund start date 29 July 2024 is less than five years before March 2026. | $31M |
| 20 | Kernel Nz Bond Fund | Kernel | 0.40% | 3.51% | No 5-year average return figure held. Recorded fund start date 29 July 2024 is less than five years before March 2026. | $77M |
| 21 | Investnow Mercer All Country Global Shares Index Fund | Fundrock | 0.43% | 6.59% | No 5-year average return figure held for this fund. | $20M |
| 22 | Investnow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund | Fundrock | 0.44% | No 1-year return figure held for this fund. | No 5-year average return figure held for this fund. | $1M |
| 23 | Kernel S&P Global Clean Energy Fund | Kernel | 0.45% | 85.34% | No 5-year average return figure held. Recorded fund start date 11 April 2022 is less than five years before March 2026. | $2M |
About “—” in return figures: it means no figure is held, not a return of zero. Of the 23 funds listed, 22 have a 1-year return and 6 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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