Quick Verdict
HESTA is cheaper at $50k ($408/yr vs $442/yr). HESTA leads on 10-year returns (8.30% vs 8.10%).
Fund Overview
Aware Super
| Type | Industry |
| Established | 2020 |
| Trustee | Aware Super Pty Ltd |
| HQ State | NSW |
| Members | 1.2M |
| Assets (AUM) | $175B |
HESTA
| Type | Industry |
| Established | 1987 |
| Trustee | H.E.S.T. Australia Ltd |
| HQ State | VIC |
| Members | 1.0M |
| Assets (AUM) | $75B |
Fee Comparison
| Fee Component | Aware Super | HESTA |
|---|
| Admin Fee (flat) | $52 | $78 |
| Admin Fee (%) | 0.18% | 0.08% |
| Investment Fee | 0.52% | 0.48% |
| Indirect Cost Ratio | 0.08% | 0.10% |
| Buy/Sell Spread | 0.11% | 0.12% |
Total Annual Fee by Balance
| Balance | Aware Super | HESTA |
|---|
| $10,000 | $130 | $144 |
| $25,000 | $247 | $243 |
| $50,000 | $442 | $408 |
| $100,000 | $832 | $738 |
| $250,000 | $2,002 | $1,728 |
| $500,000 | $3,952 | $3,378 |
Performance Comparison
| Period | Aware Super | HESTA |
|---|
| 1-Year | 11.50% | 11.80% |
| 3-Year | 8.00% | 8.10% |
| 5-Year | 8.10% | 8.30% |
| 7-Year | 8.20% | 8.40% |
| 10-Year | 8.10% | 8.30% |
| FY2024 | 8.50% | 9.00% |
| FY2023 | 10.10% | 10.50% |
| FY2022 | -3.20% | -2.90% |
| FY2021 | 19.80% | 19.50% |
| FY2020 | -0.30% | -0.10% |
| FY2019 | 8.20% | 8.50% |
| FY2018 | 10.10% | 10.50% |
| FY2017 | 12.50% | 12.80% |
| FY2016 | 3.80% | 4.00% |
| FY2015 | 10.20% | 10.50% |
Insurance Comparison
Aware Super
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
HESTA
| Insurer | TAL Life Limited |
| 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 | HESTA |
|---|
| 25 | $130 | $140 |
| 30 | $220 | $235 |
| 35 | $380 | $395 |
| 40 | $580 | $600 |
| 45 | $900 | $920 |
| 50 | $1,380 | $1,420 |
| 55 | $2,050 | $2,100 |
| 60 | $2,920 | $3,000 |
APRA Heatmap Ratings
Aware Super
| Fee Rating | Around median |
| Return Rating | Above median |
| Sustainability | Performing |
HESTA
| Fee Rating | Around median |
| Return Rating | Above median |
| Sustainability | Performing |
Investment Options
Aware Super
| Total Options | 11 |
| Ethical/ESG Option | Yes |
| Indexed Option | No |
| Direct Investing | No |
HESTA
| Total Options | 8 |
| Ethical/ESG Option | Yes |
| 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 |
HESTA
| App Ratings | iOS 4.5 / Android 4.2 |
| Advice | Limited personal advice included |
| AFCA Complaints | 3.8 per 10k members |
| Call Centre | 8am-8pm AEST Mon-Fri |
Verdict
The choice between Aware Super and HESTA comes down to two genuine differences, not a tiebreaker between two near-identical funds. Aware Super is the broader-mandate option — formed from the merger of First State Super, VicSuper and WA Super, it serves public-sector workers, education staff, and any Australian who walks through the door. It runs more investment options (16+ for accumulation members), a stronger lifecycle MySuper structure that derisks automatically as members approach retirement, and at $175B AUM has the scale to negotiate sharper deal flow on unlisted infrastructure and private markets.
HESTA is narrower and unapologetically so: nurses, midwives, allied-health professionals, social workers, and early-childhood educators are its constituency, and its product is built around the realities of those careers — extended career breaks, often-broken super-contribution patterns, and earlier-than-average retirement intentions. Its impact-investing track record is genuine (the HESTA Sustainable Growth option is one of the longest-running ESG-screened balanced options in Australia, with audited exclusions on fossil fuels, tobacco, weapons, and gambling).
Verdict: if your employer defaults you to either fund, the case for switching is weak — both pass the APRA performance test, both run competitive MySuper options, and the long-term return spread between them is well under 1 percentage point. The genuine differentiators: choose Aware Super if you value more investment-option granularity, lifecycle automation, and broader-market scale; choose HESTA if you specifically want sector-aligned advocacy and a credible ESG product without paying retail-fund fees for ethical screening.
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.