ANZ Smart Choice Super Review
ANZ Smart Choice Super is the Superannuation fund offered by ANZ bank. It is managed by OnePath Custodians, a former subsidiary of ANZ, now owned by IOOF.
This fund is promoted as a simple, low-cost Super option, targeted at ANZ customers, although anyone can join.
As of March 31st 2026 they had approximately 298,540 members with $26.6 billion in assets under management across their super and pension funds.
Please Note: Any advice on this page is general in nature and does not take into account your objectives, financial situation or needs. Consider whether this is right for you. See full disclaimer.
ANZ Smart Choice Super Performance
ANZ Smart Choice Super’s Growth, Moderate and Conservative investment options have all outperformed the median option of the respective risk profiles over 1 year but underperformed over 5 years.
For an in depth analysis of performance see ANZ Smart Choice Super performance, for a comparison against AustralianSuper see ANZ Smart Choice Super vs AustralianSuper and for a comparison against all funds see compare super funds.
Select an investment option from the menu below to see performance Vs the relevant median.
Past performance is not a reliable indicator of future performance.
Fees
Fees for the Growth, Moderate and Conservative investment options are all below the median option of their respective risk profiles.
Select an investment option from the menu below to see flat fees, percentage based fees and total fees on a balance of $50,000.
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1940's | 6.39% | 7.73% | 5.02% |
| Median | 6% | 6.3% | 4.2% |
| ANZ Smart Choice Super - 1940's VS Median | 0.39% | 1.43% | 0.82% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1940's | 60 | 0.95% | $535 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 14% | |
| 2 | International Shares | 18% | |
| 3 | Fixed Interest | 32% | |
| 4 | Alternative | 20.5% | |
| 5 | Property | 2% | |
| 6 | Cash | 13.5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1990's | 11.22% | 11.42% | 7.57% |
| Median | 10.9% | 11% | 7.9% |
| ANZ Smart Choice Super - 1990's VS Median | 0.32% | 0.42% | -0.33% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1990's | 60 | 1.02% | $570 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 31% | |
| 2 | International Shares | 39.5% | |
| 3 | Fixed Interest | 3% | |
| 4 | Alternative | 18.5% | |
| 5 | Property | 3.5% | |
| 6 | Cash | 4.5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1970's | 10.74% | 11.04% | 7.18% |
| Median | 10.9% | 11% | 7.9% |
| ANZ Smart Choice Super - 1970's VS Median | -0.16% | 0.04% | -0.72% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1970's | 60 | 1.03% | $575 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 29% | |
| 2 | International Shares | 37% | |
| 3 | Fixed Interest | 7% | |
| 4 | Alternative | 19% | |
| 5 | Property | 3% | |
| 6 | Cash | 5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 2000's | 11.15% | 11.34% | 7.56% |
| Median | 10.9% | 11% | 7.9% |
| ANZ Smart Choice Super - 2000's VS Median | 0.25% | 0.34% | -0.34% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 2000's | 60 | 1.01% | $565 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 31% | |
| 2 | International Shares | 39.5% | |
| 3 | Fixed Interest | 3% | |
| 4 | Alternative | 18.5% | |
| 5 | Property | 3.5% | |
| 6 | Cash | 4.5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1960's | 10.37% | 10.92% | 7.31% |
| Median | 9.5% | 9.7% | 6.9% |
| ANZ Smart Choice Super - 1960's VS Median | 0.87% | 1.22% | 0.41% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1960's | 60 | 0.96% | $540 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 29% | |
| 2 | International Shares | 33% | |
| 3 | Fixed Interest | 8% | |
| 4 | Alternative | 20.5% | |
| 5 | Property | 2% | |
| 6 | Cash | 7.5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1950's | 8.65% | 9.38% | 6.1% |
| Median | 7.6% | 8.1% | 5.6% |
| ANZ Smart Choice Super - 1950's VS Median | 1.05% | 1.28% | 0.5% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1950's | 60 | 0.94% | $530 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 21% | |
| 2 | International Shares | 26% | |
| 3 | Fixed Interest | 20% | |
| 4 | Alternative | 21.5% | |
| 5 | Property | 3% | |
| 6 | Cash | 8.5% |
Returns to June 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| ANZ Smart Choice Super - 1980's | 11.31% | 11.49% | 7.59% |
| Median | 10.9% | 11% | 7.9% |
| ANZ Smart Choice Super - 1980's VS Median | 0.41% | 0.49% | -0.31% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| ANZ Smart Choice Super - 1980's | 60 | 1.02% | $570 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 31% | |
| 2 | International Shares | 39.5% | |
| 3 | Fixed Interest | 3% | |
| 4 | Alternative | 18.5% | |
| 5 | Property | 3.5% | |
| 6 | Cash | 4.5% |
Insurance
Members are offered life, TPD and income protection Insurance to their members.
Automatically applied cover amounts are based on your age, gender, and smoker status.
You can apply for greater amounts of cover, which will be subject to underwriting.
Insurance is provided by OnePath Life Limited.
Fund details
See the ANZ Smart Choice Super ABN and USI page for all the information required to contribute to this fund.
Read their PDS and TMD for further details.
FAQ's
While their main investment options have underperformed the median of other investments within the same risk categories over 5 years, they have outperformed over the past 1 year.
Fees are lower than the median of other options of the same risk category.
Based on this evidence, it depends on which investment option you’re in, how long you’ve been in it and whether it’s suited to your risk tolerance as to whether it’s been a good superfund.
There are many factors which determine whether a super fund is good or bad and it can differ depending on personal requirements. It’s best to seek advice from a qualified adviser in order to work out which is the best super fund for you.
Yes, it is an APRA fund.
ANZ Smart Choice Super Reviews
ANZ Smart Choice Super Reviews: 2.4 out of 5 stars from 12 customer reviews on Australia’s best superannuation review site Review My Super.
See more Super Fund Reviews to compare ratings and reviews across funds.
I’m 59 and my super balance has gone down by $10,000. I’m not happy.
Rubbish
Not much info provided.
Seems to charge high fees than it declared.
Not impressed with fees and performance
Has not been great. Under performing. Am moving to an industry fund.
Very good
Customer service as far as facts is terrible. I called them vs ATO as it is tax time. ANZ said we do not give financial advice. I called the ATO and they said these facts are on our website. I said I asked a person to verify as it was too important to guess. They also told me what I asked was not financial advice.
Smart Choice wants you to put away extra monies with them, but they won’t tell you the facts to help you do it in the best way.
I remarried in 2020 and now, my superannuation fund ANZ Smart Super, will not verify my identity (changed of married name and mispelt second name) unless I provide a copy of the divorce certificate from the BDM (please refer to the email they sent me below).
I have already provided them with a birth cert, marriage cert from my former marriage and my current marriage certificate. It stands to reason that I could not possibly have remarried (and thus changing my surname to current husband’s) if I HAD NOT ALREADY BEEN PREVIOUSLY DIVORCED which I obviously had to prove already. The fact that I had two marriage certificates to prove the name change chain to show them – the marriage certificate name matches my driver’s licence.
They are also being difficult about my signature not matching exactly despite the fact that it obviously would have changed after remarrying and the difficulty of making a neat or exact signature on a driver’s licence.
I have since found a copy of my divorce certificate as issued by the Federal Circuit Court of Australia and am getting these documents re-witnessed to satisfy their insane demands.
If you note in the email copy past below they as asking for a divorce certificate from the Births, Deaths and Marriages and there is nothing of the kind being offered on here.
Also why should I have to pay more money for a certificate when the court itself issued one – I paid for my divorce fairly and squarely and this should be sufficient proof.
I feel that this Super fund is rogue. It is no longer even owned by ANZ even though they still call themselves ANZ. You can not go into an ANZ branch to present these identity documents in person because ANZ do not own this rogue comapny anymore. They are making excuses to stop people taking their funds out.
I did not have these ridiculous requirements to meet when I changed my details with my other Super Fund and the ATO of all places had no problems verifying my identity.
My question is: why would a divorce certificate be necessary to show if I have a cert from the BDM to prove that I remarried? Can they legally get away with using things like this as a pretense to withold releasing super funds or sending those funds to another super fund that treats you and your investments better?
Fees seem and no performance
Low fee structure however returns have been disappointing in the past 12 months
Several years lost and high fees.. my fund is $20k less than one year ago.
All I see is my balance go down but when it goes up it goes back down less than what I started with having been in this fund for 5 years starting at 380000 now for what I’ve paid into it for this time is just over 50 thousand yet my balance is only just over 400000
Yes I know there’s fees an tax but for 5 years I’ve more or less made nothing so would recommend this super too any friends