Quick Verdict
CareSuper is cheaper at $50k ($423/yr vs $438/yr). CareSuper leads on 10-year returns (8.00% vs 7.80%).
Fund Overview
CareSuper
| Type | Industry |
| Established | 1986 |
| Trustee | CareSuper Pty Ltd |
| HQ State | VIC |
| Members | 220K |
| Assets (AUM) | $28B |
Equip Super
| Type | Industry |
| Established | 1931 |
| Trustee | Togethr Trustees Pty Ltd |
| HQ State | VIC |
| Members | 100K |
| Assets (AUM) | $35B |
Fee Comparison
| Fee Component | CareSuper | Equip Super |
|---|
| Admin Fee (flat) | $78 | $78 |
| Admin Fee (%) | 0.09% | 0.16% |
| Investment Fee | 0.55% | 0.50% |
| Indirect Cost Ratio | 0.05% | 0.06% |
| Buy/Sell Spread | 0.12% | 0.10% |
Total Annual Fee by Balance
| Balance | CareSuper | Equip Super |
|---|
| $10,000 | $147 | $150 |
| $25,000 | $250 | $258 |
| $50,000 | $423 | $438 |
| $100,000 | $768 | $798 |
| $250,000 | $1,803 | $1,878 |
| $500,000 | $3,528 | $3,678 |
Performance Comparison
| Period | CareSuper | Equip Super |
|---|
| 1-Year | 11.00% | 11.00% |
| 3-Year | 7.80% | 7.80% |
| 5-Year | 8.00% | 8.00% |
| 7-Year | 8.10% | 8.00% |
| 10-Year | 8.00% | 7.80% |
| FY2024 | 8.80% | 8.50% |
| FY2023 | 9.80% | 9.80% |
| FY2022 | -3.00% | -2.80% |
| FY2021 | 19.20% | 19.00% |
| FY2020 | -0.20% | -0.20% |
| FY2019 | 8.00% | 8.00% |
| FY2018 | 9.80% | 9.80% |
| FY2017 | 12.00% | 12.00% |
| FY2016 | 3.80% | 3.80% |
| FY2015 | 10.00% | 10.00% |
Insurance Comparison
CareSuper
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| IP Cover | Yes — opt-in |
Equip Super
| Insurer | AIA Australia |
| Death Cover | Yes — opt-out |
| TPD Cover | Yes — opt-out |
| IP Cover | Yes — opt-in |
Annual Premium Comparison by Age
| Age | CareSuper | Equip Super |
|---|
| 25 | $125 | N/A |
| 30 | $210 | N/A |
| 35 | $365 | N/A |
| 40 | $560 | N/A |
| 45 | $870 | N/A |
| 50 | $1,350 | N/A |
| 55 | $2,000 | N/A |
| 60 | $2,850 | N/A |
APRA Heatmap Ratings
CareSuper
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
Equip Super
| Fee Rating | Around median |
| Return Rating | Around median |
| Sustainability | Performing |
Investment Options
CareSuper
| Total Options | 10 |
| Ethical/ESG Option | No |
| Indexed Option | No |
| Direct Investing | No |
Equip Super
| Total Options | 9 |
| 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 |
Equip Super
| App Ratings | iOS 4.3 / Android 4.1 |
| Advice | Not specified |
| AFCA Complaints | 4.5 per 10k members |
| Call Centre | Not specified |
Verdict
On fees, CareSuper is the more affordable option. At a $50,000 balance, CareSuper costs $423 per year compared to $438 for Equip Super — a difference of $15 annually. That gap is small enough that it should not be the deciding factor between these two funds.
Looking at long-term performance, CareSuper holds the edge with a 10-year return of 8.00% versus 7.80% for Equip Super — a gap of 0.20% per annum. The two funds are closely matched on returns, so other factors become more important in choosing between them.
On insurance, CareSuper uses AIA Australia while Equip Super is backed by AIA Australia. CareSuper charges around $560/year for a 40-year-old's default cover. On member satisfaction, CareSuper has fewer AFCA complaints at 3.9 per 10,000 members compared to 4.5 for the other.
CareSuper is best suited for it professionals, lawyers legal workers, while Equip Super targets miners energy workers, public sector workers. The two funds also serve different industries: CareSuper focuses on professional services, corporate, while Equip Super targets energy, rail. 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.