Quick Verdict
Cbus is cheaper at $50k ($393/yr vs $423/yr). Cbus leads on 10-year returns (8.40% vs 8.00%).
Fund Overview
CareSuper
| Type | Industry |
| Established | 1986 |
| Trustee | CareSuper Pty Ltd |
| HQ State | VIC |
| Members | 220K |
| Assets (AUM) | $28B |
Cbus
| Type | Industry |
| Established | 1984 |
| Trustee | United Super Pty Ltd |
| HQ State | VIC |
| Members | 900K |
| Assets (AUM) | $85B |
Fee Comparison
| Fee Component | CareSuper | Cbus |
|---|
| Admin Fee (flat) | $78 | $78 |
| Admin Fee (%) | 0.09% | 0.00% |
| Investment Fee | 0.55% | 0.58% |
| Indirect Cost Ratio | 0.05% | 0.05% |
| Buy/Sell Spread | 0.12% | 0.10% |
Total Annual Fee by Balance
| Balance | CareSuper | Cbus |
|---|
| $10,000 | $147 | $141 |
| $25,000 | $250 | $236 |
| $50,000 | $423 | $393 |
| $100,000 | $768 | $708 |
| $250,000 | $1,803 | $1,653 |
| $500,000 | $3,528 | $3,228 |
Performance Comparison
| Period | CareSuper | Cbus |
|---|
| 1-Year | 11.00% | 11.50% |
| 3-Year | 7.80% | 8.20% |
| 5-Year | 8.00% | 8.40% |
| 7-Year | 8.10% | 8.50% |
| 10-Year | 8.00% | 8.40% |
| FY2024 | 8.80% | 8.80% |
| FY2023 | 9.80% | 10.20% |
| FY2022 | -3.00% | -2.20% |
| FY2021 | 19.20% | 20.50% |
| FY2020 | -0.20% | 0.20% |
| FY2019 | 8.00% | 8.20% |
| FY2018 | 9.80% | 10.20% |
| FY2017 | 12.00% | 12.80% |
| FY2016 | 3.80% | 4.50% |
| FY2015 | 10.00% | 10.20% |
Insurance Comparison
CareSuper
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Cbus
| Insurer | MetLife Insurance |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | CareSuper | Cbus |
|---|
| 25 | $125 | $160 |
| 30 | $210 | $270 |
| 35 | $365 | $450 |
| 40 | $560 | $690 |
| 45 | $870 | $1,080 |
| 50 | $1,350 | $1,650 |
| 55 | $2,000 | $2,450 |
| 60 | $2,850 | $3,500 |
APRA Heatmap Ratings
CareSuper
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
Cbus
| Fee Rating | Around median |
| Return Rating | Above median |
| Sustainability | Performing |
Investment Options
CareSuper
| Total Options | 10 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Cbus
| Total Options | 8 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Member Services
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 |
Cbus
| App Ratings | iOS 4.4 / Android 4.2 |
| Advice | Limited personal advice included; Cbus coordinators on building sites |
| AFCA Complaints | 3.9 per 10k members |
| Call Centre | 8am-8pm AEST Mon-Fri |
Verdict
On fees, Cbus is the more affordable option. At a $50,000 balance, Cbus costs $393 per year compared to $423 for CareSuper — a difference of $30 annually. Over a 30-year career, that difference compounds meaningfully.
Looking at long-term performance, Cbus holds the edge with a 10-year return of 8.40% versus 8.00% for CareSuper — a gap of 0.40% per annum. While not enormous, that gap adds up over the compounding horizon of a superannuation balance.
On insurance, CareSuper uses AIA Australia while Cbus is backed by MetLife Insurance. For a 40-year-old, CareSuper's default death and TPD premiums cost around $560/year versus $690/year at Cbus, making CareSuper the cheaper option for mid-career cover. On member satisfaction, Cbus has fewer AFCA complaints at 3.9 per 10,000 members compared to 3.9 for the other.
CareSuper is best suited for it professionals, lawyers legal workers, while Cbus targets construction workers, fifo workers. The two funds also serve different industries: CareSuper focuses on professional services, corporate, while Cbus targets construction, building. If your employer defaults to one of these funds, that alone may tip the decision.
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.