Quick Verdict
Australian Retirement Trust is cheaper at $50k ($363/yr vs $465/yr). Australian Retirement Trust leads on 10-year returns (8.60% vs 7.20%).
Fund Overview
Australian Retirement Trust
| Type | Industry |
| Established | 2022 |
| Trustee | Australian Retirement Trust Pty Ltd |
| HQ State | QLD |
| Members | 2.3M |
| Assets (AUM) | $300B |
First Super
| Type | Industry |
| Established | 1984 |
| Trustee | First Super Pty Ltd |
| HQ State | VIC |
| Members | 50K |
| Assets (AUM) | $6B |
Fee Comparison
| Fee Component | Australian Retirement Trust | First Super |
|---|
| Admin Fee (flat) | $78 | $85 |
| Admin Fee (%) | 0.10% | 0.20% |
| Investment Fee | 0.42% | 0.48% |
| Indirect Cost Ratio | 0.05% | 0.08% |
| Buy/Sell Spread | 0.09% | 0.10% |
Total Annual Fee by Balance
| Balance | Australian Retirement Trust | First Super |
|---|
| $10,000 | $135 | $161 |
| $25,000 | $220 | $275 |
| $50,000 | $363 | $465 |
| $100,000 | $648 | $845 |
| $250,000 | $1,503 | $1,985 |
| $500,000 | $2,928 | $3,885 |
Performance Comparison
| Period | Australian Retirement Trust | First Super |
|---|
| 1-Year | 12.20% | 10.20% |
| 3-Year | 8.40% | 7.00% |
| 5-Year | 8.60% | 7.20% |
| 7-Year | 8.70% | 7.50% |
| 10-Year | 8.60% | 7.20% |
| FY2024 | 9.30% | 8.00% |
| FY2023 | 10.50% | 9.00% |
| FY2022 | -2.80% | -3.20% |
| FY2021 | 20.80% | 18.00% |
| FY2020 | -0.50% | -0.50% |
| FY2019 | 8.50% | 7.50% |
| FY2018 | 10.50% | 9.20% |
| FY2017 | 13.20% | 11.50% |
| FY2016 | 4.20% | 3.00% |
| FY2015 | 10.50% | 9.20% |
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 |
First Super
| Insurer | MetLife Insurance |
| Death Cover | Yes — opt-out |
| TPD Cover | Yes — opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | Australian Retirement Trust | First Super |
|---|
| 25 | $135 | N/A |
| 30 | $228 | N/A |
| 35 | $385 | N/A |
| 40 | $590 | N/A |
| 45 | $910 | N/A |
| 50 | $1,400 | N/A |
| 55 | $2,080 | N/A |
| 60 | $2,950 | N/A |
APRA Heatmap Ratings
Australian Retirement Trust
| Fee Rating | Below median |
| Return Rating | Above median |
| Sustainability | Performing |
First Super
| Fee Rating | Above median |
| Return Rating | Below median |
| Sustainability | Attention |
Investment Options
Australian Retirement Trust
| Total Options | 18 |
| Ethical/ESG Option | Yes |
| Indexed Option | No |
| Direct Investing | No |
First Super
| Total Options | 6 |
| Ethical/ESG Option | No |
| 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 |
First Super
| App Ratings | iOS 3.8 / Android 3.5 |
| Advice | Not specified |
| AFCA Complaints | 4.4 per 10k members |
| Call Centre | Not specified |
Verdict
On fees, Australian Retirement Trust is the more affordable option. At a $50,000 balance, Australian Retirement Trust costs $363 per year compared to $465 for First Super — a difference of $102 annually. That is a substantial gap that will compound significantly over decades.
Looking at long-term performance, Australian Retirement Trust holds the edge with a 10-year return of 8.60% versus 7.20% for First Super — a gap of 1.40% per annum. That performance spread is significant and would result in tens of thousands of dollars difference over a working life.
On insurance, Australian Retirement Trust uses TAL Life Limited while First Super is backed by MetLife Insurance. Australian Retirement Trust charges around $590/year for a 40-year-old's default cover. On member satisfaction, Australian Retirement Trust has fewer AFCA complaints at 3.4 per 10,000 members compared to 4.4 for the other.
Australian Retirement Trust is best suited for public sector workers, large balances over 250k, while First Super targets construction workers. One key difference is scale: Australian Retirement Trust manages $300B in assets and has 2.3M members, dwarfing First Super's $6B. Larger funds generally negotiate better fees and access exclusive deal flow, though smaller funds can offer more personalised service.
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 April 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. SuperFind is a
DecisionLab publication.