Aware Super vs. UniSuper: a head to head between two profit for member funds
Aware Super and UniSuper have more in common than you might think. Both are profit-for-member super funds that grew up serving professionals, with Aware's background in public service, health and education, and UniSuper's in the university and research sector.
Now open to everyone, they're both competing for members who want a strong track record, responsible governance, and flexible options.
But while their philosophy is similar, there are some important differences when you dig into their specific investment options, fees, and performance. Here’s a side-by-side look at how they stack up.
Aware super vs. UniSuper: investment options
Aware Super and UniSuper both offer a strong set of investment options across the usual categories: diversified pre-mixed portfolios, single asset class choices, and a couple of sustainable picks. But they differ in the details.
Aware gives members a broader menu of pre-mixed options, including a lifecycle default strategy and two indexed diversified portfolios. UniSuper offers fewer pre-mixed choices overall, but provides more single sector options for members wanting to build their own mix. There's no lifecycle option and no indexed range at UniSuper, but the core diversified line-up is comparable.
Both funds offer two sustainable diversified options (balanced and high growth) with broadly similar exclusions such as fossil fuels, tobacco, gambling and controversial weapons.
| Category / option type | Aware Super | UniSuper |
|---|---|---|
|
Pre mixed/diversified options |
9 |
7 |
|
Standard diversified options |
5 |
5 |
|
Indexed diversified options |
2 |
0 |
| Sustainable options |
2 |
2 |
|
Lifecycle options |
1 |
0 |
|
Single asset class options |
6 |
9 |
|
Default MySuper option |
Lifecycle |
Balanced |
Source: Aware Super and Unisuper product pages, accessed 22 August 2025.
Aware Super vs. UnisSuper: performance
Net returns clearly matter because they reflect how your investment has performed after fees are taken out. Here we’ve compared one option from each fund with very similar asset allocations: Aware Super’s High Growth option with 88% growth and 12% defensive assets, and UniSuper’s Growth option with 87% growth and 13% defensive.
Aware Super’s High Growth option consistently edges out UniSuper’s equivalent Growth option across most timeframes, with the exception of the 3-year return where UniSuper takes a slight lead. Over time, things even out somewhat, but Aware Super still finishes ahead overall with a 0.12 percentage point advantage over 10 years. While that might not seem like much on paper, even small differences like that can really add up.
It’s also important to remember that past performance is not a reliable indicator of future performance.
|
Performance (as at 30 June 2025)* |
Aware Super (High Growth) |
UniSuper (Growth) |
|---|---|---|
|
1‑year return |
11.88% p.a. |
11.02% p.a. |
|
3‑year average return |
11.21% p.a. |
11.79% p.a. |
|
5‑year average return |
10.31% p.a. |
9.74% p.a. |
|
10‑year average return |
8.83% p.a. |
8.71% p.a. |
* Source: Collected from Aware Super & UniSuper websites on 22 August 2025. Figures reported after investment fees and transaction costs, but before admin fees.
Aware Super vs. UniSuper: fees
There are three types of costs to be aware of with super: investment fees, transaction costs and administration fees.Investment and transaction costs are already included in the net returns shown above. Admin fees aren’t, since they’re charged as fixed amounts and aren’t linked to how your investments perform.
In the two options we've been comparing, both funds have similar investment and transaction costs at 0.66% per year. Where they differ is admin fees. UniSuper caps this at $96 annually, while Aware Super’s cap is $750. So anyone with more than $4,800 in super will pay more with Aware’sg High Growth option compared to UniSuper’s Growth option.
Even so, admin fees are usually a smaller part of the overall cost and should be considered in the context of net performance, where Aware Super has historically delivered stronger long-term returns.
| Fees and costs |
Aware Super (High Growth) |
UniSuper (Growth) |
|---|---|---|
| Direct admin fees (deducted from your account) |
$1 per week plus 0.15% p.a. on your balance, capped at $750 p.a. |
The lesser of $96 p.a. or 2% of your balance p.a., charged monthly |
| Investment fees and costs |
0.59% p.a. |
0.50% p.a. |
| Transaction costs |
0.07% p.a. |
0.16% p.a. |
Source: Latest fee tables from the Aware Super and UniSuper websites and/or product disclosure statements, collected 22 August 2025. Always check the current PDS and fee booklet for your account type.
Bottom line
Both funds are large, well-regarded and member-focused, but there are some meaningful differences. Aware Super offers broader pre-mixed options, a lifecycle default that reduces risk over time, and a strong track record in high-growth investing. UniSuper keeps admin fees lower on all but the largest balances, and gives more flexibility if you want to build your own portfolio from single asset class options.
Which one’s right for you might depend on how involved you want to be, whether you’re planning to stay in a high-growth option long term, and how much you’ve already saved.
And if you’re still undecided, speaking with a qualified financial advisor can help. Or feel free to check some of these other attractive options.