Your super balance likely got a big boost in May
If you’ve been avoiding looking at your super balance, now might be a good time to have another peek. After a tumultuous start to the year, the markets made a strong comeback in May, meaning your super balance may have recovered some of those early-year losses.
Leading superannuation research house SuperRatings estimates that the typical default-style super fund (the median balanced option) returned a healthy 2.6% to members in May, providing welcome relief for many.
“Following the positive month it appears funds are back on track for a strong financial year result, despite the noise and uncertainty,” says Kirby Rappell, Executive Director of SuperRatings.
For the financial year to date (the 11 months to May 31, 2025), the median balanced option is up 8.6%, putting it on a solid footing with only a few weeks left until June 30.
How different fund options performed
While the balanced option saw strong growth, members in more growth-focused funds saw even better results. The median growth option, which holds more shares, is estimated to have grown by 3.1% for the month. More conservative capital stable options rose by a more modest 1.1%.
Why strong super performance matters right now
This positive momentum is welcome news, especially with two key super events on the horizon:
- EOFY contributions. If you’re considering making a last-minute concessional contribution before June 30, seeing these positive returns is encouraging. It also highlights how performance can differ between funds, making a fund review a smart part of any EOFY super strategy.
- The 12% super guarantee. From July 1, your employer’s compulsory SG contribution is set to rise to 12%. Now that there's more cash flowing into your super account each payday, it’s more important than ever to make sure it’s in a fund that puts it to good use.
Why long-term thinking is important in super
While the results for May are positive, the recent market ups and downs are a reminder of the importance of long-term thinking. SuperRatings notes that a member who panicked and switched to a cash option after the market dip in March would have missed out on this strong rebound in May.
“Funds are now on track to deliver mid to high single digit returns for the financial year, with more growth focused options potentially reaching double digits if we see current momentum carry through June,” Rappell says.
But even with a good EOFY result expected, volatility is likely to continue.
“However, as we saw a few months ago, markets can change quickly, and we encourage members to remember that superannuation is a long term investment,” he continues.
How does your super fund compare?
It’s one thing to look at how the median fund is performing, but it’s another to look at your own. So with the end of the financial year just weeks away, now is the perfect time to find out if your particular fund and investment option is leading the pack or lagging behind.
Switching to a fund with a stronger track record of performance and competitive fees could make a substantial difference to your final balance when it comes time to retire. Just be aware that past performance is not a guarantee of future performance.
Here are some funds we think deserve a look:
Compare super on Mozo:
Virgin Money Super
- Mozo Experts Choice Award winner for Exceptional MySuper + Low Fee MySuper 2025
- Earn Velocity points on contributions and any funds rolled over (T&Cs apply)
- Simple super advice at no additional cost + automatic Death and Total Permanent Disablement cover
Virgin Money Super is a retail superannuation fund available to Australians and backed by Mercer Super, who has been providing superannuation related services to Australians for over 40 years. It offers a range of investment options from a fully managed Lifestage Tracker that does the investment work for you, to a choose your own investment mix option that gives you the opportunity to invest your money where you’re most comfortable. One Velocity Frequent Flyer Point will be awarded for every $5 of Net Super contribution during the Points Earn Period and the maximum number of Velocity Points in any financial year is 250K.
Virgin Money Super also provides automatic Death and Total Permanent Disablement cover and includes additional insurance options. Members can also get simple super advice over the phone from a qualified financial adviser at no additional cost.
Aware Super
- Aware Super manages over $190 billion in retirement savings for over 1.1 million Australians
- Track record of delivering super long-term returns – 8.09% p.a. over 10 years to 31 March 2025 in the High Growth option, where a majority of members are invested.
- Winner of the 2025 Mozo Experts Choice Awards for Exceptional Super Fund for Gen X.
- Investment flexibility: Choose from a range of diversified options or single asset class options, or MySuper Lifecycle which automatically tailors your investment mix to your age over time.
Aware Super is one of Australia’s largest industry funds, managing over $190 billion for more than 1.1 million members. With a range of investment options including diversified, high-growth, and sustainable choices, Aware Super allows you to tailor your super to match your financial goals and risk appetite. As a profit-to-member fund, Aware Super prioritises delivering strong returns^ while keeping fees competitive^^, so more of your money stays invested for your future. It’s also committed to responsible investing, focusing on industries like healthcare, education, and clean energy to create positive long-term impacts. It has tools and resources to help you stay on top of your super including a mobile app, retirement planner, calculators as well as online and in-person educational events and retirement planning and advice (fees may apply).
Superhero Super
- Strong performance and low fees #
- Your choice of professionally-managed portfolios or directly investing in options like ASX 300 shares, ETFs, and managed funds
- Award-winning in-app experience ##
- Easy-to-use digital dashboard for managing your portfolio
Superhero Super is designed for Australians who want greater control over their super, offering a unique way to tailor their retirement savings. Unlike traditional super funds, Superhero Super lets you invest directly in a range of ASX 300 shares, ETFs, and managed funds, giving you the flexibility to shape your portfolio based on your own financial goals and risk appetite. In addition to this, Superhero Super boasts a selection of diversified investment options managed by Mercer, which you can select from if you’d rather leave your super to the professionals.Superhero’s easy-to-use online platform puts your super in your hands, allowing you to track and manage your investments in real-time.
And the best part? Superhero Super’s fees are lower than 75% of other super funds.
Spaceship Super
- Choice of growth or Index fund option
- Simple fee structure
- Digital dashboard to help you see where and how your super is invested
- 2025 Mozo Experts Choice Award winner - High Growth
Spaceship Super first launched in 2017, and says that above all else it’s focussed on building long-term value for its members. This is why the fund’s options are primarily suited to people who are looking to save for retirement for at least the next 10 years, or longer. Members have a choice of the GrowthX option, which has a focus on Global technology companies, and the Global Index option which passively invests in growth assets, particularly international shares. Both options have a competitive performance track record according to Spaceship (based on annualised performance since inception) and have a simple fee structure.
Spaceship Super’s digital platform helps you to keep track of your balance, and also gives you visibility of where and how your super is invested. If you’re saving for your first home, you can also set up a first super saver account.
Winner of a Mozo Expert Choice Award for Exceptional Super in the High Growth Category.
Aware super disclaimers:
^SuperRatings Fund Crediting Rate Survey, March 2025. Based on SR50 Growth (77-90) Index. Returns are after tax and investment management expenses but before the deduction of administration fees. Past performance is not an indicator of future performance.
^^Chant West Super Fund Fee Survey December 2024, High Growth [81-95% in growth assets] investment option index and $50,000 account balance. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances. Aware Super’s High Growth option as published in the Aware Super Future Saver PDS.
Superhero disclaimers:
#Low Fees - Findings based on Superhero’s analysis of SuperRatings’ Fee Report - October 2024, accessed 5 December 2024. Fees for Superhero Super’s Growth and High Growth investment options are in the top quartile based on Total Fees and compared against the SR50 Balanced (60-76) and SR50 High Growth (91-100) Indices respectively. Performance - Findings based on Superhero’s analysis of SuperRatings’ Fund Crediting Rate Survey – October 2024, accessed 5 December 2024. Based on Superhero Super’s Growth and High Growth options being in the top quartile for one year return across the SR50 Balanced (60-76) and SR50 High Growth (91-100) Indices respectively. Refer to the Superhero Super PDS and TMD for found at superhero.com.au/support/documents for more information.
## Awarded-Winner: Best for Mobile Experience in the WeMoney Investment Awards 2023
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