In this guide
In this article you can discover the top 10 performing Conservative super funds over one year and, more importantly, ten years. We recommend that you also read our explanatory article on the five main risk categories to help you compare the different risk categories that super investment options fall into.
What is an Conservative investment option?
Investment options with a 21–40% allocation to growth assets are termed Conservative by Chant West, a research company that has been analysing super fund performance for more than 20 years.
Conservative investment options may appeal to people who want a significant portion of their money in defensive assets for greater certainty.
How does a Conservative investment option behave?
In the short term, investment options in the Conservative risk category will generally experience the least volatility of all diversified investment options across all risk categories.
In the long term, a Conservative-style investment option will generally enjoy more certainty but should not be expected to grow as much as investment options in other risk categories with greater exposure to growth assets.
Playing the long game
It’s important to keep an eye on how your super is performing for you year to year (and interesting to see how other funds have performed), but for most people, superannuation will be the longest-held investment we ever have, and our lens on super should reflect that.
Longer-term figures are more significant because they incorporate the ups and downs over that entire period, and allow us to see which investment managers can consistently deliver superior performance, regardless of changing external conditions.
Top 10 Conservative investment options (super funds): 10 years to June 2024
| Super fund | Investment option | Return (per year) |
|---|---|---|
| SmartMonday | Moderate | 9% |
| HESTA | Conservative | 5.2% |
| Aware Super | Conservative | 5.1% |
| TelstraSuper | Conservative | 4.8% |
| NGS Super | Defensive | 4.7% |
| Australian Retirement Trust | Conservative (ART – Super Savings) | 4.7% |
| AustralianSuper | Stable | 4.7% |
| CareSuper | Capital Stable | 4.6% |
| Vision Super | Conservative | 4.6% |
| Qantas Super | Conservative | 4.5% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Again median figures can provide good context. In the ten-year period to June 2024, Conservative investment options as a category delivered a median return of 4.3%.
A small difference in performance makes a big difference over time
Although the difference between the top performer and the median may not seem that significant (0.9% per year), the difference builds up over time due to compounding interest.
For example, according to the MoneySmart Superannuation calculator, a 25-year-old with $5,000 in super and earning $50,000 per year, paying 0.8% in fees and achieving 5.2% per year, could potentially retire at 67 with a super balance of approximately $237,376.
All other things being equal, achieving 4.3% instead would mean a super balance of approximately $196,637– approximately 17% less.
Below you can find the top 10 performing Conservative investment options over 10 years for previous time periods. Click the arrow to see the top 10 for each period.
Top 10 Conservative investment options (super funds): 10 years to December 2023
| Super fund | Investment option | Return (per yr) |
|---|---|---|
| HESTA | Conservative | 5.2% |
| Aware Super | Conservative | 5.2% |
| TelstraSuper | Conservative | 5% |
| Prime Super | Conservative | 4.9% |
| AustralianSuper | Stable | 4.9% |
| Vision Super | Conservative | 4.8% |
| NGS Super | Defensive | 4.7% |
| Australian Retirement Trust | Conservative (ART – Super Savings) | 4.7% |
| Qantas Super | Conservative | 4.6% |
| UniSuper | Conservative | 4.6% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to June 2023
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| Aware Super | Conservative | 5.6% |
| HESTA | Conservative | 5.4% |
| TelstraSuper | Conservative | 5.3% |
| AustralianSuper | Stable | 5.1% |
| Prime Super | Conservative | 5.0% |
| Vision Super | Conservative | 5.0% |
| NGS Super | Conservative | 5.0% |
| Australian Retirement Trust | Conservative (ART – Super Savings) | 4.9% |
| UniSuper | Conservative | 4.8% |
| CareSuper | Capital Stable | 4.7% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to December 2022
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| VicSuper | Capital Stable | 5.6% |
| TelstraSuper | Conservative | 5.5% |
| HESTA | Conservative | 5.5% |
| AustralianSuper | Stable | 5.3% |
| Prime Super | Conservative | 5.2% |
| NGS Super | Defensive | 5.1% |
| Vision Super | Conservative | 5.0% |
| CareSuper | Capital Stable | 4.9% |
| UniSuper | Conservative | 4.9% |
| Australian Retirement Trust – Super Savings | Conservative | 4.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to June 2022
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| VicSuper | Capital Stable | 5.9% |
| TelstraSuper | Conservative | 5.9% |
| HESTA | Conservative | 5.8% |
| AustralianSuper | Stable | 5.7% |
| Australian Catholic Super & Retirement | Conservative | 5.6% |
| Prime Super | Conservative | 5.5% |
| NGS Super | Defensive | 5.4% |
| Australian Retirement Trust | Conservative (Super Savings) | 5.3% |
| Vision Super | Conservative | 5.3% |
| UniSuper | Conservative | 5.2% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to December 2021
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| Aware Super | Capital Stable (VicSuper) | 6.9% |
| TelstraSuper | Conservative | 6.7% |
| AustralianSuper | Stable | 6.6% |
| HESTA | Conservative | 6.5% |
| Australian Catholic Superannuation and Retirement Fund | Conservative | 6.2% |
| LGIAsuper | Stable | 6.1% |
| NGS Super | Defensive | 6.1% |
| Australian Retirement Trust | Conservative | 6.1% |
| CareSuper | Capital Stable | 6.1% |
| Prime Super | Conservative | 6.1% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to June 2021
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| Catholic Super | Moderately Conservative | 6.8% |
| VicSuper | Capital Stable | 6.5% |
| AustralianSuper | Stable | 6.4% |
| HESTA | Conservative | 6.4% |
| TelstraSuper | Conservative | 6.4% |
| VISSF | Conservative | 6.3% |
| CareSuper | Capital Stable | 6.0% |
| Vision Super | Conservative | 6.0% |
| Prime Super | Conservative | 6.0% |
| Cbus | Conservative | 5.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to December 2020
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| Catholic Super | Moderately Conservative | 6.5% |
| AustralianSuper | Stable | 6.3% |
| HESTA | Conservative | 6.2% |
| VISSF | Conservative | 6.2% |
| TelstraSuper | Conservative | 6.2% |
| Cbus | Conservative | 6.0% |
| Vision Super | Conservative | 5.9% |
| Prime Super | Conservative | 5.9% |
| CareSuper | Capital Stable | 5.9% |
| UniSuper | Conservative | 5.8% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 10 years to June 2020
| Super fund | Investment option | Return (% per yr) |
|---|---|---|
| Catholic Super | Moderately Conservative | 6.6% |
| AustralianSuper | Stable | 6.5% |
| VISSF | Conservative | 6.3% |
| TelstraSuper | Conservative | 6.3% |
| HESTA | Conservative | 6.2% |
| UniSuper | Conservative | 6.0% |
| Vision Super | Conservative | 5.9% |
| CareSuper | Capital Stable | 5.9% |
| Cbus | Conservative | 5.9% |
| Prime Super | Conservative | 5.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to June 2024
Super is best viewed as a marathon not a sprint. That said, even those members a long way from retirement should keep a watchful eye on their fund’s ongoing performance to ensure it still meets their objectives and compares favourably with other funds that share a similar risk profile.
The following table shows the top 10 funds over the 12 months to June 2024.
| Super fund | Investment option | Return (per year) |
|---|---|---|
| Brighter Super | Stable | 6.8% |
| CareSuper | Capital Stable | 6.4% |
| MLC Super Fund | MLC Stable | 6.2% |
| REI Super | Stable | 6.2% |
| Colonial First State FirstChoice | CFS Conservative | 6.1% |
| Aware Super | Conservative | 6% |
| MLC Super Fund | MultiActive Conservative | 6% |
| TWUSUPER | Conservative | 6% |
| Spirit Super | Conservative | 5.9% |
| SmartMonday | Moderate | % |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
The median 1 year return for Conservative investment options to 30 June 2024 was 5.5%.
Below you can find the top 10 performing Conservative investment options over 1 year for previous time periods. Click the arrow to see the top 10 for each period, or continue reading to discover the top 10 performing Conservative investment options over 10 years.
Top 10 Conservative investment options (super funds): 1 year to December 2023
| Super fund | Investment option | Return |
|---|---|---|
| Brighter Super | Multi-Manager Conservative Fund | 8.5% |
| Brighter Super | Stable | 7.5% |
| HESTA | Conservative | 7.2% |
| TWUSUPER | Conservative | 7.2% |
| Aware Super | Conservative | 7% |
| SmartMonday | Moderate – Active | 7% |
| REI Super | Stable | 7% |
| IOOF Portfolio Service Superannuation Fund | MLC MultiActive Conservative | 6.8% |
| MLC Super Fund | MLC Stable | 6.7% |
| Mercer Super | Mercer Conservative Growth | 6.5% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to June 2023
| Super fund | Investment option | Return |
|---|---|---|
| Brighter Super | Optimiser Multi-Manager Conservative | 6.1% |
| Aware Super | Conservative | 5.8% |
| Brighter Super | Stable | 5.7% |
| HESTA | Conservative | 5.7% |
| CareSuper | Capital Stable | 5.5% |
| Mercer | Conservative Growth | 5.2% |
| Hostplus | Capital Stable | 5.2% |
| smartMonday | Moderate | 5.2% |
| Aware Super | Defensive | 5.1% |
| Russell | Defensive | 5.1% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to December 2022
| Super fund | Investment option | Return |
|---|---|---|
| Qantas Super | Conservative | 0.8% |
| UniSuper | Conservative | -0.9% |
| Rest | Capital Stable | -0.9% |
| Hostplus | Capital Stable | -1.0% |
| Spirit Super | Conservative | -1.5% |
| Vision Super | Conservative | -1.7% |
| CareSuper | Capital Stable | -1.8% |
| Australian Retirement Trust – QSuper | Moderate | -1.8% |
| HESTA | Conservative | -1.8% |
| Prime Super | Conservative | -1.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to June 2022
| Super fund | Investment option | Return |
|---|---|---|
| Qantas Super | Conservative | 1.3% |
| UniSuper | Conservative | 0.7% |
| Christian Super | Ethical Stable | 0.0% |
| Australian Catholic Super & Retirement | Conservative | -0.2% |
| Rest | Capital Stable | -0.3% |
| Prime Super | Conservative | -0.7% |
| Vision Super | Conservative | -0.7% |
| Australian Retirement Trust | Conservative (Super Savings) | -0.8% |
| TelstraSuper | Conservative | -0.9% |
| Legal Super | Conservative | -0.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to December 2021
| Super fund | Investment option | Return |
|---|---|---|
| LGIAsuper | Stable | 8.6% |
| TelstraSuper | Conservative | 8% |
| Australian Retirement Trust | Conservative | 7.5% |
| Christian Super | Ethical Stable | 7.4% |
| NGS Super | Defensive | 7.1% |
| Australian Catholic Superannuation and Retirement Fund | Conservative | 6.9% |
| REI Super | Stable | 6.7% |
| Retirement Portfolio Service | OptiMix Conservative | 6.7% |
| Aware Super | Capital Stable (VicSuper) | 6.6% |
| Suncorp | Multi-Manager Conservative | 6.4% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to June 2021
| Super fund | Investment option | Return |
|---|---|---|
| Equip | Conservative – Catholic | 11.1% |
| LGIAsuper | Stable | 10.7% |
| REI Super | Stable | 10.3% |
| TelstraSuper | Conservative | 9.6% |
| Sunsuper | Conservative | 9.4% |
| Australian Catholic Superannuation and Retirement Fund | Conservative | 9.3% |
| REST | Capital Stable | 9.1% |
| MLC Super Fund | Horizon 2 | 9% |
| Suncorp | Multi-Manager Conservative | 9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to December 2020
| Super fund | Investment option | Return |
|---|---|---|
| Suncorp | Multi-Manager Conservative | 6.3% |
| Australian Ethical Super | Conservative | 4.7% |
| VISSF | Conservative | 4.1% |
| IOOF | MultiMix Conservative | 4.1% |
| Guild | Conservative | 3.9% |
| Cbus | Conservative | 3.8% |
| Equip | Conservative | 3.8% |
| Vision Super | Conservative | 3.7% |
| Aust Catholic Super & Ret | Conservative | 3.6% |
| HESTA | Conservative | 3.6% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
Top 10 Conservative investment options (super funds): 1 year to June 2020
| Super fund | Investment option | Return |
|---|---|---|
| Suncorp | Multi-Manager Conservative | 3.3% |
| Australian Ethical Super | Conservative | 3.1% |
| VISSF | Conservative | 2.7% |
| Cbus | Conservative | 2.5% |
| IOOF | MultiMix Conservative | 2.1% |
| Vision Super | Conservative | 2.0% |
| Equip | Conservative | 2.0% |
| Tasplan | Conservative | 2.0% |
| HESTA | Conservative | 2.0% |
| Mercer | Conservative Growth | 1.9% |
Source: Chant West. The top 10 is limited to Conservative options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.
© Zenith CW Pty Ltd ABN 20 639 121 403 (Chant West), Authorised Representative of Zenith Investment Partners Pty Ltd ABN 27 103 132 672, AFSL 226872 under AFS Representative Number 1280401 2020.
The data provided by Chant West is based on information supplied by third parties and does not contain all the information required to evaluate the nominated service providers, you are responsible for obtaining further information as required. The data provided by Chant West does not constitute financial product advice. However, to the extent that this data is advice it is General Advice (s766B Corporations Act) and Chant West has not taken into account the objectives, financial situation or needs of any specific person who may access or use this data. It is not a specific recommendation to purchase, sell or hold any product(s) and is subject to change at any time without prior notice. Individuals should consider the appropriateness of any advice in light of their own objectives, financial situations or needs and should obtain a copy of and consider any relevant PDS or offer document before making any decision. Data is provided in good faith and is believed to be accurate, however, no representation, warranty or undertaking in relation to the accuracy or completeness of the data is provided. Data provided is subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. Except for any liability which can not be excluded, Chant West does not accept any liability whether direct or indirect, arising from use of this data. Past performance is not an indication of future performance. Full details regarding Chant West’s research methodology, processes, ratings definitions are available at www.chantwest.com.au and Chant West’s Financial Services Guide is available at www.chantwest.com.au/financial-services-guide.
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