ANZ Smart Choice Super vs AustralianSuper – These are two very popular super funds in Australia – but do you know how they differ, or which could be the better fit for you? To make it easy, we’ve compared the key features of both funds side by side. 

AustralianSuper is the largest superannuation fund in Australia, and is a not-for-profit fund with an industry membership base. Membership is open to anyone within Australia.

ANZ Smart Choice Super is the super product of ANZ bank. However, It is managed by OnePath Custodians, a former subsidiary of ANZ, now owned by IOOF.

ANZ Smart Choice Super vs AustralianSuper: How do fees compare?

When comparing AustralianSuper and ANZ Smart Choice Super fees, AustralianSuper has lower annual percentage based fees, with a 0.67% investment based fee, compared to ANZ Smart Choice Super’s percentage based fees of 0.77%. AustralianSuper has a higher flat fee of $137.80, while ANZ Smart Choice Super has a flat fee of $60.

AustralianSuper vs ANZ Smart Choice Super: How does performance compare?

AustralianSuper ANZ Smart Choice Super
Type of fund Industry super fund not linked to any specific industry. Retail Super fund owned by IOOF.
Members 2.3 million 420K
Management Not self managed, regulated by APRA. Not self managed, regulated by APRA.
Default Fees (Based on 50K) $472.80 AUD $445.00 AUD
Asset Allocation (Default Aus Super option vs most similar ANZ option) AustralianSuper Balanced:
International Shares - 31%
Australian Shares - 21%
Alternative - 19.5%
ANZ Smart Choice Super Growth:
Australia Shares - 26%
International Shares - 34%
Fixed Interest- 26.50%
Performance (Default Aus Super option vs most similar ANZ option)* AustralianSuper Balanced:
1 Year: 9.80%
3 Year: 9.08%
5 Year: 9.14%
ANZ Smart Choice Super Growth:
1 Year: 6.74%
3 Year: 6.06%
5 Year: 6.44%
Product Disclosure Statement AustralianSuper Product Disclosure Statement ANZ Smart Choice Super Product Disclosure Statement

*Performance as at 28 February 2022

How does AustralianSuper and ANZ Smart Choice Super insurance compare?

Insurance is also an important factor to consider when looking at superannuation options, as some funds may also provide insurance cover – such as life cover and TPD insurance. Insurance fees will affect super balance, so ensuring you’re happy with the deal you have is vital. Based on ratings from Omnilife, AustralianSuper received an insurance rating of 66/100, whilst ANZ Smart Choice Super has received a rating of 62/100 for its insurance options. 

Interested in seeing how AustralianSuper and ANZ Smart Choice Super compared to other popular Australian funds? Review My Super provides valuable insights on the best and worst performing Australian super funds, so that you can make informed decisions on where you invest your money.

Review My Super can review every Super Fund in Australia and can help you understand what YOUR money is doing for YOU!

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