The top-performing super funds for FY26

Despite a year dominated by geopolitical tensions, tariff uncertainty and bouts of market volatility, Australian super funds delivered another year of strong returns.

According to Chant West, the median growth fund returned 9.5% in FY26, while SuperRatings estimated the median balanced option returned 9.4%. 

Both research houses say international shares once again did much of the heavy lifting, with enthusiasm for artificial intelligence and resilient corporate earnings offsetting a weaker year for Australian equities. 

Chant West Head of Super Investment Mano Mohankumar said international shares returned 25.5% in hedged terms during the year, compared with 6.2% for Australian shares.

"Generally speaking, the better performing funds were those that had higher allocations to international shares, particularly where a larger proportion of that exposure was currency hedged," Mohankumar said.

For SuperRatings Director Kirby Rappell, one of the highlights was that smaller funds continued to compete strongly with the industry's largest players.

"It is encouraging to see that smaller funds have proven they can still deliver members returns that are on par with, and in some cases exceeding, those of their larger competitors," Rappell said.

Here's how the leading funds stacked up across four key categories.

1. Top-performing growth funds for FY26

UniSuper Growth topped Chant West's rankings with a 12.3% return, comfortably ahead of the survey median of 9.5%.

NGS Super Diversified (MySuper) and CFS FirstChoice Growth shared second place with returns of 11.5%, while Hostplus Balanced (10.8%) and UniSuper Balanced (10.4%) completed the top five.

SuperRatings also publishes a league table of growth options, although it defines the category differently by focusing on portfolios with 77-90% invested in growth assets, rather than Chant West's 61-80% range.

The different methodology resulted in a different leaderboard. Raiz Super – Aggressive claimed top spot with a return of 18.7%, followed by NGS Super – High Growth (12.7%).

2. Top-performing passive balanced funds for FY26

With passive investing continuing to surge in popularity, it's also worth looking at how index-tracking super options performed over the past 12 months. Balanced options are a popular choice among passive investors, making them a useful point of comparison.

Raiz Super's Moderately Aggressive option topped SuperRatings' balanced passive rankings with a return of 13.4%, ahead of Hostplus Indexed Balanced (11.1%) and AMP Signature Super – Balanced Index (10.8%).

According to SuperRatings, passive investment strategies benefited significantly from their exposure to international shares, with the strong performance of US equities boosting returns across indexed portfolios.

3. Top-performing MySuper lifecycle funds for FY26

Because MySuper products are the default investment option for millions of Australians who haven't chosen their own super strategy, they provide a useful snapshot of how the average member's retirement savings have performed.

Lifecycle products, which automatically adjust a member's asset allocation as they age, delivered standout returns for younger Australians with higher allocations to growth assets.

Colonial First State First Choice MySuper – Lifestage 1980-84 and Essential Super MySuper – Lifestage 1980-84 shared top spot after both returned 13.6%. Vanguard MySuper – Lifecycle (Age 47 and under) followed with 12.3%, ahead of Team Super (12.1%) and Virgin Money Super (11.9%).

Diversified fund performance for FY26

The results reinforced a familiar investing principle: taking more risk through a higher allocation to growth assets generally delivered higher returns, particularly in a year when international shares significantly outperformed more defensive asset classes.

According to Chant West, median returns ranged from 12.4% for All Growth funds to 6.0% for Conservative funds.

Mohankumar says that while super funds have delivered four straight years of returns of 9% or more, that level of return shouldn’t be thought of as normal. 

“The typical long-term return objective for growth funds is to beat inflation by 3.5% p.a., which translates to roughly 6% p.a. Since the introduction of compulsory super, the annualised return is 8% and the annual CPI increase is 2.7%, giving a real return of 5.3% p.a. – well above that 3.5% target," he said.

With annual super statements set to land in members' inboxes and mailboxes over the coming months, SuperRatings Director Kirby Rappell said now is an ideal time to review your super.

"Over the coming months, super funds will begin sending out their annual statements and this is a great opportunity for members to review their fund’s performance and fees, check if their personal details are up to date and ensure any insurance arrangements remain suitable for their circumstances," he said.

Next up: We'll look long-term

FY26 was another excellent year for super funds, but one year's performance only tells part of the story.

In our next wire, we'll examine the top-performing super funds over the past decade to identify the managers that have consistently delivered for members. As it turns out, the long-term leaderboard looks quite different from this year's rankings.