Quick Verdict
Australian Retirement Trust is cheaper at $50k ($363/yr vs $442/yr). Australian Retirement Trust leads on 10-year returns (8.60% vs 8.10%).
Fund Overview
Australian Retirement Trust
| Type | Industry |
| Established | 2022 |
| Trustee | Australian Retirement Trust Pty Ltd |
| HQ State | QLD |
| Members | 2.3M |
| Assets (AUM) | $300B |
Aware Super
| Type | Industry |
| Established | 2020 |
| Trustee | Aware Super Pty Ltd |
| HQ State | NSW |
| Members | 1.2M |
| Assets (AUM) | $175B |
Fee Comparison
| Fee Component | Australian Retirement Trust | Aware Super |
|---|
| Admin Fee (flat) | $78 | $52 |
| Admin Fee (%) | 0.10% | 0.18% |
| Investment Fee | 0.42% | 0.52% |
| Indirect Cost Ratio | 0.05% | 0.08% |
| Buy/Sell Spread | 0.09% | 0.11% |
Total Annual Fee by Balance
| Balance | Australian Retirement Trust | Aware Super |
|---|
| $10,000 | $135 | $130 |
| $25,000 | $220 | $247 |
| $50,000 | $363 | $442 |
| $100,000 | $648 | $832 |
| $250,000 | $1,503 | $2,002 |
| $500,000 | $2,928 | $3,952 |
Performance Comparison
| Period | Australian Retirement Trust | Aware Super |
|---|
| 1-Year | 12.20% | 11.50% |
| 3-Year | 8.40% | 8.00% |
| 5-Year | 8.60% | 8.10% |
| 7-Year | 8.70% | 8.20% |
| 10-Year | 8.60% | 8.10% |
| FY2024 | 9.30% | 8.50% |
| FY2023 | 10.50% | 10.10% |
| FY2022 | -2.80% | -3.20% |
| FY2021 | 20.80% | 19.80% |
| FY2020 | -0.50% | -0.30% |
| FY2019 | 8.50% | 8.20% |
| FY2018 | 10.50% | 10.10% |
| FY2017 | 13.20% | 12.50% |
| FY2016 | 4.20% | 3.80% |
| FY2015 | 10.50% | 10.20% |
Insurance Comparison
Australian Retirement Trust
| Insurer | TAL Life Limited |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Aware Super
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | Australian Retirement Trust | Aware Super |
|---|
| 25 | $135 | $130 |
| 30 | $228 | $220 |
| 35 | $385 | $380 |
| 40 | $590 | $580 |
| 45 | $910 | $900 |
| 50 | $1,400 | $1,380 |
| 55 | $2,080 | $2,050 |
| 60 | $2,950 | $2,920 |
APRA Heatmap Ratings
Australian Retirement Trust
| Fee Rating | Below median |
| Return Rating | Above median |
| Sustainability | Performing |
Aware Super
| Fee Rating | Around median |
| Return Rating | Above median |
| Sustainability | Performing |
Investment Options
Australian Retirement Trust
| Total Options | 18 |
| Ethical/ESG Option | Yes |
| Indexed Option | No |
| Direct Investing | No |
Aware Super
| Total Options | 11 |
| Ethical/ESG Option | Yes |
| Indexed Option | No |
| Direct Investing | No |
Member Services
Australian Retirement Trust
| App Ratings | iOS 4.6 / Android 4.4 |
| Advice | Limited personal advice included; comprehensive fee-for-service |
| AFCA Complaints | 3.4 per 10k members |
| Call Centre | 8am-6pm AEST Mon-Fri |
Aware Super
| App Ratings | iOS 4.6 / Android 4.3 |
| Advice | Limited personal advice included; comprehensive fee-for-service |
| AFCA Complaints | 4.3 per 10k members |
| Call Centre | 8am-7pm AEST Mon-Fri |
Verdict
Australian Retirement Trust (ART) is the new mega-fund formed from the 2022 merger of QSuper and Sunsuper, with ~$300B AUM and 2.3M members — making it the second-largest super fund in Australia. ART inherits QSuper's defined-benefit heritage (still available to certain Queensland public-sector cohorts) and Sunsuper's diversified accumulation product. Its scale advantage is comparable to AustralianSuper's, and its 10-year MySuper return (8.6% p.a.) places it firmly in the top quartile of industry funds.
Aware Super, formed in 2020 from the First State Super / VicSuper / WA Super merger, sits one tier below ART by AUM ($175B) but matches or beats ART on a per-member-investment-option basis. Aware's lifecycle MySuper option automatically shifts toward more defensive assets as members approach retirement — a feature ART's MySuper does not replicate at the same level.
Verdict: ART wins on raw scale, deeper internal investment capability, and slightly stronger 10-year returns. Aware Super wins on its lifecycle MySuper structure (the right default for most members who don't actively manage their investment option) and on slightly broader retail-style features for choice-product members. If you're a Queensland public-sector employee with QSuper DB legacy entitlements, ART is the only path that preserves those. Otherwise, this is closer than the AUM gap suggests.
Important information
The information on SuperFind is general in nature and does not take into account your personal financial situation, needs, or objectives. It is not personal financial advice. Before making any financial decisions about your superannuation, consider whether the information is appropriate for your circumstances and consider seeking advice from a licensed financial adviser. Super fund data including fees and performance returns shown on this site were current as of May 2026 — always verify figures on the fund's website. Past performance is not a reliable indicator of future performance. Data sourced from APRA, ATO, and individual fund disclosures. Read our
methodology for how figures are calculated and our
about page for editorial policy. SuperFind is a
DecisionLab publication.