What does 100% growth assets mean in KiwiSaver?

100% growth assets means the fund invests entirely in shares (equities) and property, with zero allocation to bonds or cash. These funds target maximum long-term returns but experience extreme volatility. They're suitable only for investors with 25+ years until retirement who can withstand market crashes of 20-40%.

Are 100% growth asset funds too risky?

It depends on your time horizon. For 30+ year timeframes, 100% growth assets historically deliver the highest returns (8-12% annually). But short-term (5-10 years), they're extremely risky - you could lose 30%+ in market crashes. Only suitable for young investors (20s-30s) who won't panic during downturns.

What's the difference between 100% growth and 80% growth funds?

Funds with 100% growth assets have slightly higher long-term returns (0.5-1% more annually) but significantly more volatility. The 20% bonds/cash in 80% growth funds provides a cushion during crashes. Most financial advisers recommend 80-90% growth rather than 100% for better risk-adjusted returns.

Who should choose 100% growth asset KiwiSaver funds?

Only for: Very young investors (20s-early 30s), those with 30+ years to retirement, very high risk tolerance, investors who won't check balances during crashes. NOT for: Anyone over 35, those within 20 years of retirement, moderate/low risk tolerance, first home buyers, or anyone who panics during market volatility.

What returns can I expect from 100% growth asset funds?

Long-term (30+ years): 8-12% average annual returns. However, expect extreme year-to-year variation: +20-40% in bull markets, -20-40% in crashes. These funds delivered 25%+ in 2019-2021 but lost 15-20% in 2022. Volatility smooths out over decades, making them ideal for retirement 30+ years away.

⚡ Maximum Equity

100% Growth Assets KiwiSaver Funds

105 KiwiSaver funds with 100% in shares and property (zero bonds/cash). Maximum long-term returns for aggressive investors with 30+ year timeframes.

⚠️Extreme Risk Warning

100% growth asset funds are the HIGHEST RISK KiwiSaver option

• Can lose 20-40% in market crashes
• Extreme volatility year-to-year
• ONLY for 30+ year timeframes - not suitable for anyone over 35
• Zero defensive assets - no cushion during downturns
• Not suitable for first home buyers, near-retirees, or moderate risk tolerance

Most advisers recommend 80-90% growth instead for better risk-adjusted returns

Total Funds

105

100% equity

Average Return

4.93%

5-year average

Average Fees

0.84%

Annual fees

Avg Growth Assets

98.9%

In equities

Who Should Choose 100% Growth Assets?

✓ ONLY Suitable For:

• Ages 18-30 (30+ years to retirement)
• Very high risk tolerance
• Won't panic during 30% market crashes
• Don't check balance during downturns
• Understand volatility = opportunity
• Have emergency fund outside KiwiSaver

✗ NOT Suitable For:

• Anyone over 35 years old
• Within 20 years of retirement
• First home buyers (any timeline)
• Moderate or low risk tolerance
• Those who panic during market drops
• Need money within 15 years

All 100% Growth Asset Funds Ranked

Rank	Fund Name	Provider	Growth Assets	5-Year Return	Fees	Risk
#1	Australian Financials Fund	Smartshares	99.5%	18.58%	0.69%	6/7
#2	Us Large Growth Fund	Smartshares	99.7%	17.61%	0.67%	6/7
#3	US 500 Fund	Smartshares	99.8%	16.78%	0.64%	5/7
#4	Australian Mid Cap Fund	Smartshares	99.8%	16.60%	0.69%	6/7
#5	US Large Value Fund	Smartshares	99.7%	14.93%	0.67%	5/7
#6	Overseas Shares Fund	Smartshares	100.0%	14.55%	0.68%	5/7
#7	Us Equities Fund	Koura	98.9%	14.51%	0.73%	6/7
#8	US Mid Cap Fund	Smartshares	99.6%	14.13%	0.67%	5/7
#9	Total World Fund	Smartshares	99.9%	13.96%	0.68%	5/7
#10	US Small Cap Fund	Smartshares	99.6%	13.93%	0.67%	6/7
#11	Australian Shares Fund	Smartshares	99.8%	13.93%	0.69%	5/7
#12	Overseas Shares (Currency Hedged) Fund	Smartshares	99.9%	13.89%	0.68%	5/7
#13	Sustainable International Share	ANZ	100.0%	13.87%	0.90%	5/7
#14	Goalsgetter Amova Global Shares Fund	Nikko	98.5%	13.41%	1.43%	5/7
#15	Australian Resources Fund	Smartshares	99.8%	12.84%	0.69%	6/7
#16	Australian Top 20 Fund	Smartshares	99.9%	12.83%	0.69%	5/7
#17	AMP International Shares Fund No. 2	AMP	99.5%	12.76%	0.86%	5/7
#18	Europe Fund	Smartshares	100.0%	12.58%	0.69%	5/7
#19	AMP International Shares Fund	AMP	99.5%	12.52%	0.85%	5/7
#20	Australian Dividend Fund	Smartshares	100.0%	11.86%	0.69%	5/7
#21	Superlife High Growth Fund	Smartshares	99.4%	11.13%	0.73%	5/7
#22	Superlife Age Steps - Age 20	Smartshares	95.4%	10.71%	0.73%	5/7
#23	Milford Kiwisaver Aggressive Fund	Milford	99.9%	10.07%	1.15%	5/7
#24	Growth Strategy	NZ Funds	99.9%	10.06%	1.95%	6/7
#25	Summer Australian Equities	Forsyth Barr	97.2%	9.97%	1.02%	5/7
#26	International Share Fund	ANZ	100.0%	9.77%	0.96%	5/7
#27	SBS Wealth High Growth Fund	SBS	97.7%	9.39%	1.17%	5/7
#28	Geared Growth Fund	Booster	97.8%	9.37%	1.50%	5/7
#29	Lifestages Auto Option Age 0 - 49	SBS	97.5%	9.20%	1.17%	5/7
#30	Life Cycle - Age 0-54	NZ Funds	95.9%	9.07%	1.87%	6/7
#31	Rest Of World Equities Fund	Koura	99.0%	9.06%	0.73%	5/7
#32	Shares Fund	Mercer	97.8%	8.86%	0.96%	5/7
#33	Global Equities Fund	MAS	96.7%	8.85%	0.99%	5/7
#34	Sustainable Shares Fund	Mercer	99.1%	8.69%	0.95%	5/7
#35	Australian Property Fund	Smartshares	98.4%	8.62%	0.69%	6/7
#36	Emerging Markets Fund	Smartshares	100.0%	8.28%	0.83%	5/7
#37	High Growth Fund	Booster	96.5%	7.86%	1.41%	4/7
#38	Asia Pacific Fund	Smartshares	100.0%	7.41%	0.69%	4/7
#39	Summer Global Equities	Forsyth Barr	96.5%	7.39%	1.02%	5/7
#40	Emerging Markets Equities Fund	Koura	99.1%	7.38%	0.73%	5/7
#41	Nz Mid Cap Fund	Smartshares	99.9%	6.02%	0.69%	5/7
#42	Nz Dividend Fund	Smartshares	99.9%	5.55%	0.69%	5/7
#43	Nz Top 50 Fund	Smartshares	99.9%	5.47%	0.69%	5/7
#44	Nz Shares Fund	Smartshares	99.9%	5.15%	0.69%	5/7
#45	Global Property Fund	Smartshares	99.2%	4.45%	0.68%	6/7
#46	International Property Fund	ANZ	100.0%	3.80%	0.99%	6/7
#47	AMP Australasian Shares Fund	AMP	99.5%	3.54%	0.83%	5/7
#48	Inflation Strategy	NZ Funds	96.8%	3.36%	1.52%	5/7
#49	Summer New Zealand Equities	Forsyth Barr	97.7%	3.35%	1.02%	5/7
#50	Goalsgetter Amova Sri Equity Fund	Nikko	98.1%	2.40%	1.23%	5/7
#51	New Zealand Equities Fund	Koura	99.0%	2.31%	0.73%	5/7
#52	Nz Top 10 Fund	Smartshares	99.8%	2.30%	0.69%	5/7
#53	Australasian Share Fund	ANZ	100.0%	1.67%	0.99%	5/7
#54	Summer Listed Property	Forsyth Barr	98.3%	0.95%	1.02%	5/7
#55	Australasian Property Fund	ANZ	99.7%	0.14%	1.01%	5/7
#56	Nz Property Fund	Smartshares	100.0%	0.06%	0.69%	5/7
#57	Investnow Te Ahumairangi Global Equity Fund	Fundrock	96.0%	0.00%	0.62%	4/7
#58	High Growth Fund	Westpac	98.9%	0.00%	0.70%	5/7
#59	Aggressive Fund	ASB	96.3%	0.00%	0.75%	5/7
#60	BNZ Kiwisaver High Growth Fund	BNZ	99.7%	0.00%	0.45%	5/7
#61	Kernel Global Esg (Nzd Hedged) Fund	Kernel	99.9%	0.00%	0.25%	6/7
#62	Global Fund	Generate	97.7%	0.00%	1.31%	5/7
#63	Goalsgetter Generate Thematic Fund	Nikko	96.4%	0.00%	1.59%	5/7
#64	S&P/Nzx 50 Fund	Smartshares	99.7%	0.00%	0.69%	5/7
#65	High Growth Fund	Simplicity	96.3%	0.00%	0.25%	5/7
#66	Australasian Fund	Generate	97.7%	0.00%	1.31%	5/7
#67	Total World (Nzd Hedged) Fund	Smartshares	98.3%	0.00%	0.68%	5/7
#68	Clean Energy Fund	Koura	99.4%	0.00%	1.20%	7/7
#69	Kernel Global Property (Nzd Hedged) Fund	Kernel	100.0%	0.00%	0.25%	6/7
#70	Investnow Foundation Series Hedged Total World Fund	Fundrock	100.0%	0.00%	0.07%	5/7
#71	Kernel Nz Commercial Property Fund	Kernel	100.0%	0.00%	0.25%	5/7
#72	Kernel Nz 50 Esg Tilted Fund	Kernel	100.0%	0.00%	0.25%	5/7
#73	Strategic High Growth Fund	Koura	98.3%	0.00%	1.20%	5/7
#74	Kernel Nz Small & Mid Cap Opportunities Fund	Kernel	100.0%	0.00%	0.25%	5/7
#75	Investnow Foundation Series Hedged Us 500 Fund	Fundrock	99.7%	0.00%	0.03%	6/7
#76	Kernel Nz 20 Fund	Kernel	100.0%	0.00%	0.25%	5/7
#77	Thematic Fund	Generate	96.5%	0.00%	1.31%	5/7
#78	Kernel S&P 500 (Nzd Hedged) Fund	Kernel	99.5%	0.00%	0.25%	6/7
#79	Kernel S&P Global Dividend Aristocrats Fund	Kernel	99.9%	0.00%	0.25%	5/7
#80	S&P/Asx 200 Fund	Smartshares	99.9%	0.00%	0.69%	5/7
#81	Investnow Harbour T. Rowe Price Global Equity Fund	Fundrock	98.2%	0.00%	1.19%	5/7
#82	Kernel High Growth Fund	Kernel	98.2%	0.00%	0.25%	5/7
#83	Investnow Foundation Series Total World Fund	Fundrock	100.0%	0.00%	0.07%	5/7
#84	Investnow Salt Enhanced Property Fund	Fundrock	99.0%	0.00%	1.02%	5/7
#85	Castle Point 5 Oceans Fund	Smartshares	100.0%	0.00%	1.29%	3/7
#86	Socially Responsible Geared Growth Fund	Booster	97.6%	0.00%	1.46%	5/7
#87	Investnow Antipodes Global Value Fund	Fundrock	97.1%	0.00%	1.21%	4/7
#88	Investnow Foundation Series Us 500 Fund	Fundrock	99.7%	0.00%	0.03%	5/7
#89	Milford Aggressive Fund	AMP	99.9%	0.00%	1.57%	5/7
#90	Sharesies Milford Aggressive Fund	Sharesies	99.9%	0.00%	1.15%	5/7
#91	Investnow Mint Australasian Equity Fund	Fundrock	99.1%	0.00%	1.19%	5/7
#92	Kernel S&P Global Clean Energy Fund	Kernel	99.9%	0.00%	0.45%	7/7
#93	Investnow Castle Point Trans-Tasman Fund	Fundrock	98.4%	0.00%	1.08%	5/7
#94	Investnow Milford Aggressive Fund	Fundrock	99.9%	0.00%	1.15%	5/7
#95	Investnow Clarity Global Shares Fund	Fundrock	98.7%	0.00%	1.07%	5/7
#96	Sharesies Us500 Fund	Sharesies	100.0%	0.00%	0.09%	6/7
#97	Investnow Russell Investments Hedged Global Shares Fund	Fundrock	98.9%	0.00%	0.86%	5/7
#98	Kernel S&P 500 (Unhedged) Fund	Kernel	99.7%	0.00%	0.25%	6/7
#99	Bitcoin Fund	Koura	99.7%	0.00%	1.20%	7/7
#100	Investnow Macquarie Global Listed Real Estate Fund	Fundrock	99.4%	0.00%	1.35%	6/7
#101	Goalsgetter Amova Ark Disruptive Innovation Fund	Nikko	96.3%	0.00%	1.53%	7/7
#102	Investnow Harbour Australasian Equity Focus Fund	Fundrock	98.8%	0.00%	1.20%	5/7
#103	Nz Property Fund	Koura	98.4%	0.00%	1.20%	6/7
#104	Investnow Mercer All Country Global Shares Index Fund	Fundrock	97.0%	0.00%	0.43%	5/7
#105	Investnow Mercer Nz Shares Passive Fund	Fundrock	98.3%	0.00%	0.36%	5/7

Other Asset Allocation Options

Aggressive Funds

90-100% growth assets - slightly less extreme

View Funds →

High Income Assets

70%+ bonds/cash - defensive positioning

View Funds →

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Data source: FMA KiwiSaver Quarterly Reports. Last updated: October 2025.

Disclaimer: 100% growth asset funds carry extreme risk and volatility. Past performance does not guarantee future results. This is not financial advice. Consult a licensed financial adviser before making investment decisions.