Worst Performing KiwiSaver Funds going into 2025
To help New Zealand investors assess the past performance of the KiwiSaver funds available we have identified the three lowest performing funds in each KiwiSaver category using data from the Morningstar KiwiSaver Survey. These rankings are based on their five-year average returns as of 31 December 2024, returns are after fees but before tax. Is your KiwiSaver in one of the worst performing funds? Read on to find out!
Want to see how they compare to the best-performing KiwiSaver funds of 2025? Read our latest Best Performing KiwiSaver Funds going into 2025 here.
How to Assess a KiwiSaver Fund Beyond Performance
It is most appropriate to evaluate the performance of a KiwiSaver fund by studying its long-term returns along with several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible investing considerations
Process and portfolio composition
Organisational stability
Fees
Customer service
Please keep in mind that this information is not intended to be financial advice. If you'd like to receive tailored KiwiSaver advice to determine the most appropriate KiwiSaver fund for you, then please complete our KiwiSaver Fact Find Questionnaire.
Contents:
Conservative fund category Worst performers over last 5 years
Simplicity Conservative Fund: 2.3% (five year average return) ranked 16 out of 16.
BNZ Conservative: 2.4% (five year average return) ranked 15 out of 16.
AMP Defensive Conservative: 2.4% (five year average return) ranked 14 out of 16.
What difference would this make to my KiwiSaver?
The industry average return for Conservative fund types over the most recent 5 years was 3.1%*.
Simplicity Conservative Fund vs Conservative Fund Average
Thinking about changing your KiwiSaver provider?
There are several factors to consider when deciding on a KiwiSaver fund that is right for you including:
Performance
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find only takes 5 minutes to complete, and once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
Moderate fund category Worst performers over last 5 years
AMP LS Conservative: 2.3% (five year average return) ranked 17 out of 17.
Nikko AM Scheme Conservative: 2.7% (five year average return) ranked 16 out of 17.
Westpac Conservative: 2.9% (five year average return) ranked 15 out of 17.
What difference would this make to my KiwiSaver?
The industry average return for Moderate fund types over the most recent 5 years was 3.4%.
AMP LS Conservative Vs Moderate Fund Average
Thinking about changing your KiwiSaver provider?
There are several factors to consider when deciding on a KiwiSaver fund that is right for you including:
Performance
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find only takes 5 minutes to complete, and once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
Balanced fund category Worst performers over last 5 years
ASB Scheme’s Positive Impact: 4.0% (five year average return) ranked 22 out of 22.
AMP LS Moderate Balanced Fu21: 4.0% (five year average return) ranked 21 out of 22.
ANZ Balanced: 4.1% (five year average return) ranked 20 out of 22.
What difference would this make to my KiwiSaver?
The industry average return for Balanced fund types over the most recent 5 years was 5.7%*.
ASB Scheme's Positive Impact Vs Balanced Fund Average
Thinking about changing your KiwiSaver provider?
There are several factors to consider when deciding on a KiwiSaver fund that is right for you including:
Performance
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find only takes 5 minutes to complete, and once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
Growth FUND CATEGORY Worst PERFORMERS over last 5 years
Nikko AM Scheme Balanced: 4.2% (five year average return) ranked 19 out of 19.
ANZ Balanced Growth: 5.0% (five year average return) ranked 18 out of 19.
Summer Growth Selection: 5.9% (five year average return) ranked 17 out of 19.
What difference would this make to my KiwiSaver?
The industry average return for Growth fund types over the most recent 5 years was 7.1%*.
Nikko AM Scheme Balanced Vs Growth Fund Average
Thinking about changing your KiwiSaver provider?
There are several factors to consider when deciding on a KiwiSaver fund that is right for you including:
Performance
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find only takes 5 minutes to complete, and once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
aggressive FUND CATEGORY worst PERFORMERS over last 5 years
Nikko AM Scheme Growth: 5.6% (five year average return) ranked 12 out of 12.
AMP LS Aggressive Fund: 7.1% (five year average return) ranked 11 out of 12.
Mercer Sustainable Plus High Growth: 7.6% (five year average return) ranked 10 out of 12.
What difference would this make to my KiwiSaver?
The industry average return for Aggressive fund types over the most recent 5 years was 8.4%*.
Nikko AM Scheme Aggressive Vs Aggressive Fund Average
Thinking about changing your KiwiSaver provider?
There are several factors to consider when deciding on a KiwiSaver fund that is right for you including:
Performance
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
*Please note that all graphs depicting projections use a $10,000 starting balance, with compounding interest at the rates stated. They exclude any further contributions (such as your employee, employer or Government contributions).
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find which only takes 5 minutes to complete, once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
Compound Wealth is a KiwiSaver, Retirement and Private Wealth Financial Advice Firm based in Mount Maunganui, Bay of Plenty.
