Lowest Fee KiwiSaver Funds 2025

Top 50 KiwiSaver funds ranked by lowest fees across all categories. Based on real FMA data, updated October 2025.

Funds Shown

Lowest fee options

Lowest Fee

0.00%

NZ Funds

Average Fee (Top 50)

0.27%

Annual fees

Average Return

0.93%

5-year average

Why Fees Matter: The Long-Term Impact

Fees compound over time and can significantly reduce your retirement savings. Even a 0.5% difference in fees can cost you tens of thousands of dollars over 30 years.

💡 Fee Impact Calculator Example:

Starting balance: $50,000 | Time horizon: 30 years | Annual return: 7%

With 0.5% fees:

$330,718

With 1.0% fees:

$287,175

Difference: $43,544 less with higher fees!

That's 13.2% of your potential retirement savings lost to fees.

✅ What to Look For:

• Total fees under 0.60% are excellent
• Index/passive funds typically have lowest fees
• Compare fees within the same fund type
• Consider both fees AND returns

⚠️ Remember:

• Lowest fee doesn't always mean best fund
• Consider returns after fees
• Match risk level to your time horizon
• Check provider services and support

Top 50 Funds Ranked by Lowest Fees

Rank	Fund Name	Provider	Fees	5-Year Return	Fund Type	Risk
#1	Balanced Fund	NZ Funds	0.00%	N/A	Balanced	4/7
#2	Investnow Foundation Series Hedged Us 500 Fund	Fundrock	0.03%	N/A	Aggressive	6/7
#3	Investnow Foundation Series Us 500 Fund	Fundrock	0.03%	N/A	Aggressive	5/7
#4	Investnow Foundation Series Hedged Total World Fund	Fundrock	0.07%	N/A	Aggressive	5/7
#5	Investnow Foundation Series Total World Fund	Fundrock	0.07%	N/A	Aggressive	5/7
#6	Sharesies Us500 Fund	Sharesies	0.09%	N/A	Aggressive	6/7
#7	Milford Kiwisaver Cash Fund	Milford	0.20%	2.28%	Defensive	1/7
#8	Cash Fund	ANZ	0.22%	2.32%	Defensive	2/7
#9	Cash Fund	ANZ	0.22%	2.32%	Defensive	2/7
#10	Cash Fund	Westpac	0.25%	2.38%	Defensive	2/7
#11	Kernel Nz Commercial Property Fund	Kernel	0.25%	N/A	Aggressive	5/7
#12	Default Fund	Simplicity	0.25%	N/A	Balanced	4/7
#13	High Growth Fund	Simplicity	0.25%	N/A	Aggressive	5/7
#14	Growth Fund	Simplicity	0.25%	7.56%	Growth	4/7
#15	Cash Fund	MAS	0.25%	2.33%	Defensive	1/7
#16	Kernel Global Property (Nzd Hedged) Fund	Kernel	0.25%	N/A	Aggressive	6/7
#17	Defensive Fund	Simplicity	0.25%	N/A	Defensive	3/7
#18	Conservative Fund	Simplicity	0.25%	1.79%	Conservative	3/7
#19	Kernel S&P Global Dividend Aristocrats Fund	Kernel	0.25%	N/A	Aggressive	5/7
#20	Kernel Nz Small & Mid Cap Opportunities Fund	Kernel	0.25%	N/A	Aggressive	5/7
#21	Kernel Cash Plus Fund	Kernel	0.25%	N/A	Defensive	1/7
#22	Kernel S&P 500 (Unhedged) Fund	Kernel	0.25%	N/A	Aggressive	6/7
#23	Kernel High Growth Fund	Kernel	0.25%	N/A	Aggressive	5/7
#24	Kernel Nz 50 Esg Tilted Fund	Kernel	0.25%	N/A	Aggressive	5/7
#25	Kernel Nz 20 Fund	Kernel	0.25%	N/A	Aggressive	5/7
#26	Kernel S&P 500 (Nzd Hedged) Fund	Kernel	0.25%	N/A	Aggressive	6/7
#27	Kernel Balanced Fund	Kernel	0.25%	N/A	Balanced	4/7
#28	Balanced Fund	Simplicity	0.25%	5.31%	Balanced	4/7
#29	Kernel Global Esg (Nzd Hedged) Fund	Kernel	0.25%	N/A	Aggressive	6/7
#30	BNZ Kiwisaver Cash Fund	BNZ	0.30%	2.24%	Defensive	2/7
#31	Investnow Macquarie Nz Cash Fund	Fundrock	0.30%	N/A	Defensive	2/7
#32	Kernel Us Bond Fund	Kernel	0.30%	N/A	Defensive	4/7
#33	Superlife Default Fund	Smartshares	0.30%	N/A	Balanced	4/7
#34	Cash Fund	Mercer	0.32%	2.16%	Defensive	2/7
#35	New Zealand Fixed Interest Fund	ANZ	0.34%	0.15%	Defensive	3/7
#36	Default Saver Fund	Booster	0.35%	N/A	Balanced	4/7
#37	Nz Cash Fund	ASB	0.35%	2.18%	Defensive	2/7
#38	BNZ Kiwisaver Default Fund	BNZ	0.35%	N/A	Balanced	4/7
#39	Investnow Foundation Series Balanced Fund	Fundrock	0.36%	N/A	Balanced	4/7
#40	Investnow Mercer Nz Shares Passive Fund	Fundrock	0.36%	N/A	Aggressive	5/7
#41	Default Fund	Fisher	0.37%	N/A	Balanced	4/7
#42	Investnow Foundation Series Growth Fund	Fundrock	0.38%	N/A	Growth	4/7
#43	Default Balanced Fund	Westpac	0.40%	N/A	Balanced	4/7
#44	Conservative Fund	Westpac	0.40%	2.72%	Conservative	3/7
#45	Kernel Nz Bond Fund	Kernel	0.40%	N/A	Defensive	3/7
#46	Defensive Conservative Fund	Westpac	0.40%	2.57%	Conservative	3/7
#47	Conservative Fund	ASB	0.40%	2.33%	Conservative	3/7
#48	Moderate Fund	Westpac	0.40%	3.80%	Balanced	4/7
#49	Investnow Mercer All Country Global Shares Index Fund	Fundrock	0.43%	N/A	Aggressive	5/7
#50	Cash Fund	Mercer	0.43%	2.05%	Defensive	2/7

Explore More Comparisons

Index Funds

Passive funds with typically lowest fees

View Index Funds →

Highest Returns

Top 50 funds by 5-year performance

View Top Performers →

Growth Funds

Compare all growth category funds

View Growth Funds →

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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.