Quick Verdict
CareSuper is cheaper at $50k ($423/yr vs $442/yr). Aware Super leads on 10-year returns (8.10% vs 8.00%).
Fund Overview
Aware Super
| Type | Industry |
| Established | 2020 |
| Trustee | Aware Super Pty Ltd |
| HQ State | NSW |
| Members | 1.2M |
| Assets (AUM) | $175B |
CareSuper
| Type | Industry |
| Established | 1986 |
| Trustee | CareSuper Pty Ltd |
| HQ State | VIC |
| Members | 220K |
| Assets (AUM) | $28B |
Fee Comparison
| Fee Component | Aware Super | CareSuper |
|---|
| Admin Fee (flat) | $52 | $78 |
| Admin Fee (%) | 0.18% | 0.09% |
| Investment Fee | 0.52% | 0.55% |
| Indirect Cost Ratio | 0.08% | 0.05% |
| Buy/Sell Spread | 0.11% | 0.12% |
Total Annual Fee by Balance
| Balance | Aware Super | CareSuper |
|---|
| $10,000 | $130 | $147 |
| $25,000 | $247 | $250 |
| $50,000 | $442 | $423 |
| $100,000 | $832 | $768 |
| $250,000 | $2,002 | $1,803 |
| $500,000 | $3,952 | $3,528 |
Performance Comparison
| Period | Aware Super | CareSuper |
|---|
| 1-Year | 11.50% | 11.00% |
| 3-Year | 8.00% | 7.80% |
| 5-Year | 8.10% | 8.00% |
| 7-Year | 8.20% | 8.10% |
| 10-Year | 8.10% | 8.00% |
| FY2024 | 8.50% | 8.80% |
| FY2023 | 10.10% | 9.80% |
| FY2022 | -3.20% | -3.00% |
| FY2021 | 19.80% | 19.20% |
| FY2020 | -0.30% | -0.20% |
| FY2019 | 8.20% | 8.00% |
| FY2018 | 10.10% | 9.80% |
| FY2017 | 12.50% | 12.00% |
| FY2016 | 3.80% | 3.80% |
| FY2015 | 10.20% | 10.00% |
Insurance Comparison
Aware Super
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
CareSuper
| 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 | Aware Super | CareSuper |
|---|
| 25 | $130 | $125 |
| 30 | $220 | $210 |
| 35 | $380 | $365 |
| 40 | $580 | $560 |
| 45 | $900 | $870 |
| 50 | $1,380 | $1,350 |
| 55 | $2,050 | $2,000 |
| 60 | $2,920 | $2,850 |
APRA Heatmap Ratings
Aware Super
| Fee Rating | Around median |
| Return Rating | Above median |
| Sustainability | Performing |
CareSuper
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
Investment Options
Aware Super
| Total Options | 11 |
| Ethical/ESG Option | Yes |
| Indexed Option | No |
| Direct Investing | No |
CareSuper
| Total Options | 10 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Member Services
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 |
CareSuper
| App Ratings | iOS 4.3 / Android 4.1 |
| Advice | Limited personal advice included |
| AFCA Complaints | 3.9 per 10k members |
| Call Centre | 8am-7pm AEST Mon-Fri |
Verdict
On fees, CareSuper is the more affordable option. At a $50,000 balance, CareSuper costs $423 per year compared to $442 for Aware Super — a difference of $19 annually. That gap is small enough that it should not be the deciding factor between these two funds.
Looking at long-term performance, Aware Super holds the edge with a 10-year return of 8.10% versus 8.00% for CareSuper — a gap of 0.10% per annum. The two funds are closely matched on returns, so other factors become more important in choosing between them.
On insurance, Aware Super uses AIA Australia while CareSuper is backed by AIA Australia. For a 40-year-old, CareSuper's default premiums of around $560/year undercut Aware Super's $580/year, giving CareSuper the edge on insurance costs. On member satisfaction, CareSuper has fewer AFCA complaints at 3.9 per 10,000 members compared to 4.3 for the other.
Aware Super is best suited for public sector workers, education sector, while CareSuper targets it professionals, lawyers legal workers. One key difference is scale: Aware Super manages $175B in assets and has 1.2M members, dwarfing CareSuper's $28B. 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.