How to use the YourSuper comparison tool to compare super fund fees and returns

The YourSuper comparison tool is a free government tool, run by the Australian Taxation Office, that compares MySuper products — the simple default products most employees are placed in — on fees and net investment returns, and shows whether each product has failed APRA's annual performance test. It is the quickest way to see where your default product sits against others on a common basis. Find it from the ATO website, or sign in to myGov linked to the ATO to see your own accounts alongside the comparison. It does not tell you which fund is right for you, and it does not cover every product.

This guide belongs to the super fund fees overview. General information only, not financial advice. The tool's layout and coverage can change, so treat the steps below as a guide and follow the tool's own notes.

What the tool shows

Item	What it means	How to use it
Fees	Total yearly fees for a MySuper product on a standard example balance stated in the tool	Compare cost on a common basis, then recalculate on your own balance
Net returns	Returns after investment fees, costs and fund taxes, averaged over a stated period	Compare outcomes over the long term, not one year
Performance test status	Whether the product failed APRA's latest annual performance test	Treat a fail as a strong prompt to review
Product details	Fund and product names, with links to the fund	Go to the PDS for the full fees and costs summary

Some MySuper products are lifecycle products: the investment mix changes with your age. The tool may ask for your age or show results for an age group, because a 25-year-old and a 60-year-old in the same lifecycle product may hold different investments with different fees and returns.

What the tool does not show

Choice products and most investment options other than the MySuper option are not compared in the main table. If your money is in a different option, the MySuper figure for your fund may not reflect what you pay.
Insurance cover and premiums. Two products with similar fees may have very different default insurance.
Services: app quality, retirement income products, advice, call centre access.
Your own fee on your own balance, unless you calculate it.
Future returns. Net returns describe the past only.
Self-managed super funds, defined benefit interests and some public sector schemes.

Step by step: comparing your product

Find out what you hold. Sign in to myGov, link the ATO, and open the super section. Note each fund and the product name from your latest statement.
Check whether your money is in the MySuper option. If you never chose an option, it probably is. If you chose another option, YourSuper's figures are only indicative for you.
Open the comparison. Look for your product and note its fee figure, net return and test status.
Sort and filter. Sort by net return or fees and look at where your product sits. A product that is both higher cost and lower return than many others deserves a closer look.
Recalculate on your balance. The tool uses a standard balance. Put your own figures from the PDS into the annual super fee calculator.
Project the gap. If an alternative costs, say, 0.4 percentage points less a year, enter both scenarios in the fee drag projection.
Read both PDSs before acting: investment strategy, insurance, any employer arrangement and services.
Use the checklist. Run the switch or consolidate checklist before moving money.

Worked example: reading two results

Illustrative results for two MySuper products, as a member might note them:

	Product P	Product Q
Fees on the tool's standard balance	$560 a year	$390 a year
Net return over the tool's period	6.4% a year	6.9% a year
Performance test	Passed	Passed

Product Q is cheaper and has had higher net returns over the period shown. Before switching from P to Q, the member checks:

Own balance: on a $25,000 balance with P charging $1.50 a week + 0.85%, fees are $78 + $213 = $291; with Q at $1.00 a week + 0.60%, $52 + $150 = $202. A saving of about $89 a year at this balance, rising as the balance grows.
Insurance: P gives this member default death and TPD cover; Q's default cover is lower and premiums differ. Does the member need more cover, and would Q offer it without a waiting period?
Employer: does the member's employer contribute more than 12% to P under an agreement? If so, the extra contributions might outweigh the fee saving.

These figures are illustrative. The real numbers come from the tool and the PDS.

Common misreadings to avoid

Treating the top of the list as "the best fund". Rankings move year to year, and a product that suits a young member may not suit someone close to retirement.
Comparing a MySuper figure with a choice option. Make sure you compare what you actually hold.
Ignoring the period. Net return averages depend on the years covered; one strong or weak year can shift them.
Forgetting insurance and services. These are outside the comparison but can matter a great deal.

When a product shows as failed

If your product is marked as having failed the performance test, your fund must already have written to you. A fail means the product underperformed its benchmark by more than the allowed margin over the test period. It is a strong prompt to review, but check insurance and other features before moving. See the annual performance test explained.

The tool's fee figure combines several PDS lines; to understand them see administration fees and investment fees and indirect costs.

Frequently asked questions

Is the YourSuper tool independent?

It is run by the ATO, a government agency, using data funds report to APRA. It does not accept payment from funds and does not recommend one.

Do I need myGov to use it?

No. The public comparison is available on the ATO website. Signing in through myGov adds your own accounts to the view.

Why isn't my investment option listed?

The main comparison covers MySuper products. If you are in a choice option, read the fund's investment guide and check whether APRA has tested the option as a trustee-directed product.

How often is it updated?

Fee and return data are updated periodically, and performance test results each year after APRA releases them. Check the date notes in the tool.

Official sources

ATO — YourSuper comparison tool and super in myGov
myGov — sign in and link the ATO to see all your super
APRA — annual performance test results and methodology
Moneysmart — choosing a super fund and comparison websites