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Compare KiwiSaver and managed funds

KiwiSaver funds are actually a form of managed fund, so they share their features and advantages. But since KiwiSaver is designed to help New Zealanders fund their retirement years, those funds have specific rules built in that make them worth comparing separately. As you go into this section, choose whether you'd like to look at just KiwiSaver funds or the non-KiwiSaver managed funds first.

Here's more on the features of managed funds and what's different about KiwiSaver funds.

Fund category
Fund type
Fund type details
All

Defensive fund type

Defensive funds are generally suitable if you:

  • Don't want your balance to ever go down (although there are no guarantees), even though that means it almost certainly won't grow as fast, over the long term, as riskier funds
  • Need regular income from your investments
  • Expect to spend your money in the next three years
Invest for at least:
2 to 3 years
Chance of a negative return:
1 year in 13

Defensive funds hold 0% to 9.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Defensive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Conservative fund type

Conservative funds are generally suitable if you:

  • Are willing to take on some ups and downs in value, and are seeking average long-term returns a bit higher than in a defensive fund but probably not as high as in riskier funds
  • Need regular income from your investments
  • Expect to spend your money after four or five years
Invest for at least:
4 to 5 years
Chance of a negative return:
1 year in 10

Conservative funds hold 10% to 34.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Conservative fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Balanced fund type

Balanced funds are generally suitable if you:

  • Are middle of the road, comfortable with seeing the value of your investments sometimes fall a little and seek mid-range long-term returns
  • Expect to spend your money after six to eight years
Invest for at least:
6 to 8 years
Chance of a negative return:
1 year in 6

Balanced funds hold 35% to 62.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Balanced fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Growth fund type

Growth funds are generally suitable if you:

  • Are looking for fairly high growth over the long term, and won’t want to switch to a lower-risk fund whenever you see your balance fall quite a lot
  • Expect to spend your money after 9 to 12 years
Invest for at least:
9 to 12 years
Chance of a negative return:
1 year in 5

Growth funds hold 63% to 89.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Growth fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Aggressive fund type

Aggressive funds are generally suitable if you:

  • Are looking for strong long-term growth, knowing you will stick with your fund even when your balance falls fast
  • Expect to spend your money after 13 years
Invest for at least:
13 years plus
Chance of a negative return:
1 year in 4

Aggressive funds hold 90% to 100% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Aggressive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Fund types

Select

Fund types

Funds here have been grouped by how much of the more risky investments they hold, like shares and property ("growth assets"). Choosing the right type of fund for you is a way to dial your risk up or down. If you need to decide, for managed funds try this. For KiwiSaver funds, this will help. Note: some fund managers vary their investment mix depending on market conditions, so occasionally this causes a fund to temporarily change categories (e.g. balanced to conservative).

Fund type

Defensive

Defensive fund type

Defensive funds are generally suitable if you:

  • Don't want your balance to ever go down (although there are no guarantees), even though that means it almost certainly won't grow as fast, over the long term, as riskier funds
  • Need regular income from your investments
  • Expect to spend your money in the next three years
Invest for at least:
2 to 3 years
Chance of a negative return:
1 year in 13

Defensive funds hold 0% to 9.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Defensive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Conservative

Conservative fund type

Conservative funds are generally suitable if you:

  • Are willing to take on some ups and downs in value, and are seeking average long-term returns a bit higher than in a defensive fund but probably not as high as in riskier funds
  • Need regular income from your investments
  • Expect to spend your money after four or five years
Invest for at least:
4 to 5 years
Chance of a negative return:
1 year in 10

Conservative funds hold 10% to 34.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Conservative fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Balanced

Balanced fund type

Balanced funds are generally suitable if you:

  • Are middle of the road, comfortable with seeing the value of your investments sometimes fall a little and seek mid-range long-term returns
  • Expect to spend your money after six to eight years
Invest for at least:
6 to 8 years
Chance of a negative return:
1 year in 6

Balanced funds hold 35% to 62.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Balanced fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Growth

Growth fund type

Growth funds are generally suitable if you:

  • Are looking for fairly high growth over the long term, and won’t want to switch to a lower-risk fund whenever you see your balance fall quite a lot
  • Expect to spend your money after 9 to 12 years
Invest for at least:
9 to 12 years
Chance of a negative return:
1 year in 5

Growth funds hold 63% to 89.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Growth fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Aggressive

Aggressive fund type

Aggressive funds are generally suitable if you:

  • Are looking for strong long-term growth, knowing you will stick with your fund even when your balance falls fast
  • Expect to spend your money after 13 years
Invest for at least:
13 years plus
Chance of a negative return:
1 year in 4

Aggressive funds hold 90% to 100% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Aggressive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

All

Funds here have been grouped by how much of the more risky investments they hold, like shares and property ("growth assets"). Choosing the right type of fund for you is a way to dial your risk up or down. If you need to decide, for managed funds try this. For KiwiSaver funds, this will help. Note: some fund managers vary their investment mix depending on market conditions, so occasionally this causes a fund to temporarily change categories (e.g. balanced to conservative).

Show me

Select

Show me

Show me

Fund types

Select

Fund types

Fund types

Defensive

Defensive fund type

Defensive funds are generally suitable if you:

  • Don't want your balance to ever go down (although there are no guarantees), even though that means it almost certainly won't grow as fast, over the long term, as riskier funds
  • Need regular income from your investments
  • Expect to spend your money in the next three years
Invest for at least:
2 to 3 years
Chance of a negative return:
1 year in 13

Defensive funds hold 0% to 9.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Defensive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Conservative

Conservative fund type

Conservative funds are generally suitable if you:

  • Are willing to take on some ups and downs in value, and are seeking average long-term returns a bit higher than in a defensive fund but probably not as high as in riskier funds
  • Need regular income from your investments
  • Expect to spend your money after four or five years
Invest for at least:
4 to 5 years
Chance of a negative return:
1 year in 10

Conservative funds hold 10% to 34.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Conservative fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Balanced

Balanced fund type

Balanced funds are generally suitable if you:

  • Are middle of the road, comfortable with seeing the value of your investments sometimes fall a little and seek mid-range long-term returns
  • Expect to spend your money after six to eight years
Invest for at least:
6 to 8 years
Chance of a negative return:
1 year in 6

Balanced funds hold 35% to 62.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Balanced fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Growth

Growth fund type

Growth funds are generally suitable if you:

  • Are looking for fairly high growth over the long term, and won’t want to switch to a lower-risk fund whenever you see your balance fall quite a lot
  • Expect to spend your money after 9 to 12 years
Invest for at least:
9 to 12 years
Chance of a negative return:
1 year in 5

Growth funds hold 63% to 89.9% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Growth fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Aggressive

Aggressive fund type

Aggressive funds are generally suitable if you:

  • Are looking for strong long-term growth, knowing you will stick with your fund even when your balance falls fast
  • Expect to spend your money after 13 years
Invest for at least:
13 years plus
Chance of a negative return:
1 year in 4

Aggressive funds hold 90% to 100% in growth assets.

Growth assets are typically shares or commercial property.

Income assets are typically bonds or cash.

A typical Aggressive fund asset mix

Growth assets Income assets

Looking for the right mix for you?

For managed funds, try this. For KiwiSaver, use this.

Life stage funds

Select

Life stage funds

Life stage funds

These funds adjust their investment mix over time. As a member gets older, the amount of risk is reduced.

Single class funds

Select

Single class funds

Single class funds

Also called "single-sector", these hold only one kind of investment (e.g. just shares or just bonds).

Fees as a percent of a $10,000 balance

Risk indicator

to

A measure of past volatility, from 1 (lowest) to 7 (highest)

The lowest recorded annual return

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