Default funds · ranked on the data

KiwiSaver default funds compared (2026)

If you got auto-enrolled and never picked a fund, you're probably in one of these. The government rotates the list every few years; here's how each one is actually performing right now.

General information only · Past performance is not a reliable indicator of future performance · Returns shown are historical (Morningstar Morningstar KiwiSaver 360, Q1 2026), net of fund fees at 28% PIR. For personal advice on which fund fits you, run our free Health Check or get in touch.

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Smiths' top 5

The 5we'd look at first.

1
Growth· default
Asset Class Growth Fund
Booster Kiwisaver Scheme
8.61% 5y return · 1.37% fees · Growth
Full review →Compare
2
Aggressive· default
Socially Responsible High Growth Fund
Booster Kiwisaver Scheme
8.43% 5y return · 1.35% fees · Aggressive
Full review →Compare
3
Growth· default
Geared Growth Fund
Booster Kiwisaver Scheme
8.13% 5y return · 1.50% fees · Growth
Full review →Compare
4
Aggressive· default
High Growth Fund
Booster Kiwisaver Scheme
7.23% 5y return · 1.41% fees · Aggressive
Full review →Compare
5
Growth· default
Growth Fund
Simplicity Kiwisaver Scheme
7.20% 5y return · 0.25% fees · Growth
Full review →Compare

How we ranked these

Our methodology

We list every fund flagged as a default KiwiSaver provider on Sorted, ranked by 5-year return where available.

Smiths is FAP-licensed (FSP712931) and gives advice on a defined panel of KiwiSaver schemes. We don't run our own scheme. We do receive an upfront fee plus a trail commission (0.25%–0.5%) from the scheme we move clients to, disclosed in full at smiths.net.nz/disclosure. The ranking on this page covers every scheme in NZ, regardless of whether it is on our panel. Past performance is not a reliable indicator of future performance. this is general information only.

The full ranking

All 53 funds we considered

#6
Growth
Bnz Kiwisaver Growth Fund
Bnz Kiwisaver Scheme
6.93% 5y return · 0.45% fees · Growth
#7
Growth
Shielded Growth Fund
Booster Kiwisaver Scheme
6.49% 5y return · 1.41% fees · Growth
#8
Growth
Growth Fund
Fisher Funds Kiwisaver Plan
6.25% 5y return · 1.13% fees · Growth
#9
Growth
Growth Fund
Westpac Kiwisaver Scheme
5.98% 5y return · 0.55% fees · Growth
#10
Growth
Growth Fund
Booster Kiwisaver Scheme
5.79% 5y return · 1.35% fees · Growth
#11
Balanced
Bnz Kiwisaver Balanced Fund
Bnz Kiwisaver Scheme
5.34% 5y return · 0.45% fees · Balanced
#12
Balanced
Asset Class Balanced Fund
Booster Kiwisaver Scheme
5.19% 5y return · 1.32% fees · Balanced
#13
Balanced
Balanced Fund
Simplicity Kiwisaver Scheme
5.12% 5y return · 0.25% fees · Balanced
#14
Balanced
Socially Responsible Balanced Fund
Booster Kiwisaver Scheme
4.93% 5y return · 1.33% fees · Balanced
#15
Balanced
Balanced Fund
Fisher Funds Kiwisaver Plan
4.86% 5y return · 1.04% fees · Balanced
#16
Balanced
Balanced Fund
Westpac Kiwisaver Scheme
4.79% 5y return · 0.50% fees · Balanced
#17
Balanced
Balanced Fund
Booster Kiwisaver Scheme
4.45% 5y return · 1.31% fees · Balanced
#18
Balanced
Bnz Kiwisaver Moderate Fund
Bnz Kiwisaver Scheme
3.86% 5y return · 0.45% fees · Balanced
#19
Balanced
Moderate Fund
Westpac Kiwisaver Scheme
3.57% 5y return · 0.40% fees · Balanced
#20
Conservative
Core Conservative Fund
Fisher Funds Kiwisaver Plan
3.16% 5y return · 0.51% fees · Conservative
#21
Conservative
Bnz Kiwisaver First Home Buyer Fund
Bnz Kiwisaver Scheme
2.77% 5y return · 0.45% fees · Conservative
#22
Conservative
Conservative Fund
Fisher Funds Kiwisaver Plan
2.72% 5y return · 0.87% fees · Conservative
#23
Balanced
Socially Responsible Moderate Fund
Booster Kiwisaver Scheme
2.72% 5y return · 1.21% fees · Balanced
#24
Conservative
Capital Guaranteed Fund
Booster Kiwisaver Scheme
2.68% 5y return · 1.03% fees · Conservative
#25
Conservative
Cash Fund
Fisher Funds Kiwisaver Plan
2.62% 5y return · 0.45% fees · Conservative
#26
Balanced
Conservative Fund
Westpac Kiwisaver Scheme
2.61% 5y return · 0.40% fees · Balanced
#27
Balanced
Moderate Fund
Booster Kiwisaver Scheme
2.59% 5y return · 1.20% fees · Balanced
#28
Conservative
Cash Fund
Westpac Kiwisaver Scheme
2.58% 5y return · 0.25% fees · Conservative
#29
Conservative
Defensive Conservative Fund
Westpac Kiwisaver Scheme
2.46% 5y return · 0.40% fees · Conservative
#30
Conservative
Bnz Kiwisaver Cash Fund
Bnz Kiwisaver Scheme
2.45% 5y return · 0.30% fees · Conservative
#31
Conservative
Conservative Fund
Booster Kiwisaver Scheme
2.39% 5y return · 0.38% fees · Conservative
#32
Conservative
Asset Class Conservative Fund
Booster Kiwisaver Scheme
2.35% 5y return · 1.24% fees · Conservative
#33
Conservative
Bnz Kiwisaver Conservative Fund
Bnz Kiwisaver Scheme
2.26% 5y return · 0.45% fees · Conservative
#34
Conservative
Enhanced Cash Fund
Booster Kiwisaver Scheme
2.01% 5y return · 0.87% fees · Conservative
#35
Conservative
Conservative Fund
Simplicity Kiwisaver Scheme
1.75% 5y return · 0.25% fees · Conservative
#36
Conservative
Cashplus Fund
Fisher Funds Kiwisaver Plan
1.65% 5y return · 0.68% fees · Conservative
#37
Conservative
Defensive Fund
Simplicity Kiwisaver Scheme
0.00% 5y return · 0.25% fees · Conservative
#38
Conservative
Glidepath Age 75
Fisher Funds Kiwisaver Plan
0.00% 5y return · 0.84% fees · Conservative
#39
Conservative
Glidepath Age 65
Fisher Funds Kiwisaver Plan
0.00% 5y return · 0.91% fees · Conservative
#40
Balanced
Default Balanced Fund
Westpac Kiwisaver Scheme
0.00% 5y return · 0.40% fees · Balanced
#41
Balanced
Default Fund
Fisher Funds Kiwisaver Plan
0.00% 5y return · 0.37% fees · Balanced
#42
Balanced
Default Saver Fund
Booster Kiwisaver Scheme
0.00% 5y return · 0.35% fees · Balanced
#43
Balanced
Default Fund
Simplicity Kiwisaver Scheme
0.00% 5y return · 0.25% fees · Balanced
#44
Balanced
Glidepath Age 55
Fisher Funds Kiwisaver Plan
0.00% 5y return · 1.11% fees · Balanced
#45
Balanced
Bnz Kiwisaver Default Fund
Bnz Kiwisaver Scheme
0.00% 5y return · 0.35% fees · Balanced
#46
Growth
Socially Responsible Growth Fund
Booster Kiwisaver Scheme
0.00% 5y return · 1.34% fees · Growth
#47
Growth
Glidepath Age 40
Fisher Funds Kiwisaver Plan
0.00% 5y return · 1.21% fees · Growth
#48
Aggressive
Glidepath Age 25
Fisher Funds Kiwisaver Plan
0.00% 5y return · 1.23% fees · Aggressive
#49
Aggressive
Aggressive Fund
Fisher Funds Kiwisaver Plan
0.00% 5y return · 1.23% fees · Aggressive
#50
Aggressive
High Growth Fund
Simplicity Kiwisaver Scheme
0.00% 5y return · 0.25% fees · Aggressive
#51
Growth
Socially Responsible Geared Growth Fund
Booster Kiwisaver Scheme
0.00% 5y return · 1.46% fees · Growth
#52
Growth
High Growth Fund
Westpac Kiwisaver Scheme
0.00% 5y return · 0.70% fees · Growth
#53
Growth
Bnz Kiwisaver High Growth Fund
Bnz Kiwisaver Scheme
0.00% 5y return · 0.45% fees · Growth

Need a personal take?

We don't pick funds in the abstract.

Take the 90-second Health Check and we'll match you to the best fit for your timeframe, goals, and tax position from our advised panel, benchmarked against every fund in the directory.

Our directory covers every NZ KiwiSaver fund. Our advice panel is five schemes (ANZ, Booster, Fisher Funds, Generate, Milford); recommendations land on four funds across Milford and Booster — how we're paid →

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More curated lists

Asset Class Growth Fund

Socially Responsible High Growth Fund

Geared Growth Fund

High Growth Fund

Growth Fund

Our methodology

We don't pick funds in the abstract.