Best Performing KiwiSaver Funds
*Past performance is not necessarily indicative of future performance.
*All returns are per annum after fees and tax (28% PIR) as of the quarter ended 31st August 2025.
*Source: National Capital Research
What is the best KiwiSaver fund for you?
We’re here to help find the best KiwiSaver fund for you. Our team are financial advisers specialising in KiwiSaver & Investment research. We provide free KiwiSaver advice, with the goal of empowering Kiwis to become financially secure.
By taking a few minutes of your time to complete our KiwiSaver HealthCheck questionnaire, you will receive an instant recommendation tailored specifically to your goals and beliefs.Â
Our system combines the latest figures and technology to provide the most suited recommendations. Nonetheless, whether you take us up on the advice, is completely up to you.Â
Top Performing KiwiSaver Funds
As of quarter ended 31st August 2025
Here is a list of the current best-performers in each category. While choosing involves considering multiple factors, performance results are undoubtedly important. The list is revised and updated based on the latest quarterly performance data.Â
| Fund Type | Fund Name | 5-Year Average |
| Conservative | Pathfinder Conservative | 3.65% |
| Moderate | Milford Moderate | 5.15% |
| Balanced | Quaystreet Socially Responsible | 7.76% |
| Growth | Milford Active Growth | 10.12% |
| High Growth | Milford Aggressive | 10.07% |
There is an overwhelming number of options to choose from. Furthermore, we know reading about KiwiSaver funds and how they differ is one of those chores you’re inclined to put off as it’s not the most exciting weekend task.
To make life a little easier, we’ve developed a system combining our research and advice with technology that highlights the best solution tailored to you. The data is based on National Capital research from the quarterly fund reports. It helps paint a clearer picture on your options.
Therefore, allowing you to compare your own fund against the top performers and market index. You can compare by accessing your fund’s performance via your provider’s online portal. Alternatively, we’re able to summarise this for you when you apply for your own Free KiwiSaver Fund HealthCheck.
Maximise Your KiwiSaver Returns Today
Your provider won’t tell you when it’s time for a change. Are you getting the best returns?
Taking action now could significantly boost your future savings.
We’ve helped Kiwis take charge of over $170 million in KiwiSaver investment. Let us help you too.
Getting Into Your First Home
Sophie has been saving for her first home deposit but she’s unsure if her current KiwiSaver funds will get her there. Is she better off seeking alternative options?
Starting Balance: $45,000
Salary: $70,000
Annual Contribution: $3,570
Timeframe: 10 years
Conservative Fund Earning 5.5% p.a
Growth Fund Earning 7.6% p.a
Estimated balance at the end of time frame
Helping Couples Retire Right
Jane & Alan are looking forward to retirement but staying in the wrong KiwiSaver investment fund could mean thousands less when they need it most.
Starting Balance: $35,000
Salary: $140,000
Annual Contribution: $7,140
Timeframe: 25 years
Conservative Fund Earning 5.5% p.a
Growth Fund Earning 7.6% p.a
Estimated balance at the end of time frame
Disclaimer: The returns shown in this chart are based on modelled projections and are provided for illustrative purposes only. Assumed gross annual returns are 5.50% for the Conservative fund and 7.60% for the Growth fund, before fees and tax. Projected values are shown after the deduction of an annual management fee of 0.75% for the Conservative fund and 0.99% for the Growth fund, and tax at a rate of 17.50%. Actual returns may vary and are subject to market conditions, changes in fees or tax rates, and individual circumstances.
Whether you are saving for your first home, saving for retirement or are already retired, let us help you unlock the full potential.
Advice At National Capital
At National Capital, we simplify finding the KiwiSaver research process by providing expert, unbiased recommendations tailored to your needs. Our proprietary KiwiSaver investment selection methodology is designed to help you build trust and confidence in your investments. Through this process we thoroughly evaluate funds across the below 6 pillars to determine the best KiwiSaver options for your goals and circumstances.
1
Performance After Fees
Quality and consistency of the highest returns.
25
pts
2
Fees Alignment
Assessment of value provided for fees charged.
15
pts
3
Organisational Capability
The capability of the organisation to manage your money.
20
pts
4
Organisational Stability
Overall stability within a provider’s organisation.
10
pts
5
Processes & Portfolio Composition
Asset allocation, investing process and style consistency.
20
pts
6
Ethical Investing Considerations
Deep dive into the ethical investing claims of providers.
10
pts
Why use National Capital as your independent, impartial KiwiSaver adviser?
Choosing a KiwiSaver fund solely based on past returns is not the best approach to financial security, as past performance is not a guarantee of future returns. Its essential to conduct a robust assessment of KiwiSaver to ensure your investment strategy aligns with your risk profile, financial circumstances, and the purpose for your KiwiSaver fund finder goals. Whether that is for retirement or buying your first home.
At National Capital, we provide independent, research-based advice for free, as we are paid by the KiwiSaver providers. We recommend funds for you from our partnered providers, who collectively manage over 60 % of the KiwiSaver funds under management (MorningStar KiwiSaver Survey, December 2024).
| Milford | AMP | Pathfinder |
| Generate | ANZ | SBS |
| Booster | Mercer | SmartShares |
| Fisher Funds | Amova | Â |
Complete the National Capital HealthCheck today to find the best choice for you. By choosing National Capital as your independent KiwiSaver adviser today you could make a significant difference to your KiwiSaver balance.
- Detailed Research: We research and advice on many KiwiSaver funds, instead of limiting advice to one provider. The research is broad, ranging from asset allocation all the way to ethical investing. Making us your go-to advisor.
- Ongoing Review: We conduct regular review to ensure that your KiwiSaver remains aligned with your circumstances and goals.
- Service Delivery: Our KiwiSaver advice service can be fully digital or supported by our team. You decide what you need.
- Gift of Time: We do the hard work of researching KiwiSaver, so you can focus on life.
- No Cost to You: National Capital gets paid by the provider it has partnered with to provide independent advice.
Our recommendations look at the big picture and not just the scorecard. We sift through the choices and providers to recommend ones that match your circumstances and goals. Our position is to serve as your lifelong KiwiSaver fund finder and adviser to match your expectations with the best available options on the market.
How Should I Choose Amongst The Selection Of KiwiSaver Funds?
We have looked at the best based on their 5-year returns, however, looking at the past performance of a fund is just one aspect when choosing. Other questions you need to give consideration to in your KiwiSaver fund finder journey are:
- What is my risk tolerance and capacity to take risk when choosing?
- What are my KiwiSaver goals?
- What is the level of volatility (risk) of these funds? Does it align with my risk tolerance and ability to take the risk?
While the list isn’t long, it is not always easy to establish the one that suit your needs and long-term goals. That is why we’re here to provide expert advice. National Capital serves as your hub to ensure you’re making a well-informed decision.
Seeking The Best Return? Start Your Journey Today
Selecting the right KiwiSaver today could significantly boost your future savings. We’ve helped Kiwis take charge of over $170 million in funds. Let us help you too. Your provider won’t tell you it’s time for a change. We will!
So if you’re seeking the best, take our HealthCheck below!
Spending 10 minutes to complete our HealthCheck may be the most important thing you can do right now.