Best Index/Passive KiwiSaver Funds 2025

Compare all 23 Index/Passive KiwiSaver funds ranked by 5-year returns. Based on real FMA data, updated October 2025.

Total Index Funds

Passive options

Average Return

0.64%

5-year average

Average Fees

0.28%

Annual fees

Lowest Fee

0.25%

Industry-leading

What are Index/Passive KiwiSaver Funds?

Index funds (also called passive funds) track market indices rather than trying to beat them. They invest in a broad selection of assets matching an index (like the NZX 50 or S&P 500), without active stock picking by fund managers.

💡 Key Benefits of Index Funds:

• Lowest fees: Typically 0.31%-0.50% vs 0.80%-1.20% for active funds
• Broad diversification: Invest across hundreds or thousands of companies
• No manager risk: Performance doesn't depend on fund manager decisions
• Transparency: You always know what you're invested in

✅ Best For:

• Cost-conscious investors
• Long-term investors (10+ years)
• Those who believe markets are efficient
• People who want simple, transparent investing

⚠️ Consider Instead If:

• You want potential to beat market returns → Active funds
• You value fund manager expertise → Active growth funds
• You prefer specialized strategies → Active funds

All Index Funds Ranked by Performance

Rank	Fund Name	Provider	5-Year Return	Fees	Risk	Members
#1	Growth Fund	Simplicity	7.56%	0.25%	4/7	45k
#2	Balanced Fund	Simplicity	5.31%	0.25%	4/7	14k
#3	Conservative Fund	Simplicity	1.79%	0.25%	3/7	3k
#4	Kernel Nz Small & Mid Cap Opportunities Fund	Kernel	0.00%	0.25%	5/7	0k
#5	Defensive Fund	Simplicity	0.00%	0.25%	3/7	1k
#6	High Growth Fund	Simplicity	0.00%	0.25%	5/7	24k
#7	Default Fund	Simplicity	0.00%	0.25%	4/7	54k
#8	Kernel S&P Global Clean Energy Fund	Kernel	0.00%	0.45%	7/7	0k
#9	Investnow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund	Fundrock	0.00%	0.44%	4/7	0k
#10	Kernel S&P 500 (Unhedged) Fund	Kernel	0.00%	0.25%	6/7	0k
#11	Kernel S&P 500 (Nzd Hedged) Fund	Kernel	0.00%	0.25%	6/7	1k
#12	Kernel Nz 20 Fund	Kernel	0.00%	0.25%	5/7	0k
#13	Kernel Nz Bond Fund	Kernel	0.00%	0.40%	3/7	0k
#14	Kernel Balanced Fund	Kernel	0.00%	0.25%	4/7	1k
#15	Kernel Us Bond Fund	Kernel	0.00%	0.30%	4/7	0k
#16	Kernel Nz 50 Esg Tilted Fund	Kernel	0.00%	0.25%	5/7	0k
#17	Kernel Nz Commercial Property Fund	Kernel	0.00%	0.25%	5/7	0k
#18	Kernel Global Esg (Nzd Hedged) Fund	Kernel	0.00%	0.25%	6/7	0k
#19	Kernel Global Property (Nzd Hedged) Fund	Kernel	0.00%	0.25%	6/7	0k
#20	Kernel S&P Global Dividend Aristocrats Fund	Kernel	0.00%	0.25%	5/7	0k
#21	Kernel Cash Plus Fund	Kernel	0.00%	0.25%	1/7	0k
#22	Investnow Mercer All Country Global Shares Index Fund	Fundrock	0.00%	0.43%	5/7	1k
#23	Kernel High Growth Fund	Kernel	0.00%	0.25%	5/7	7k

Compare Other Fund Types

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Simplicity Funds

New Zealand's lowest fee KiwiSaver provider

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Data source: FMA KiwiSaver Quarterly Reports, provider Product Disclosure Statements. Last updated: October 2025.

Disclaimer: Past performance does not guarantee future results. This is not financial advice. Consult a licensed financial adviser before making investment decisions.