Put comparable options in the same column
Begin with asset allocation. Record the percentage in growth assets such as shares and property, the percentage in defensive assets such as bonds and cash, and the stated risk level. Options sharing the same name can have materially different mixes, so the label is not enough.
Use the same end date and time period for performance. Prefer five- and ten-year figures where available and note whether they are net of fees and tax. If an option has a short history, say so in the comparison instead of treating a one-year result as equivalent evidence.
Turn every cost into an annual dollar figure
Collect fixed administration fees, percentage administration fees, investment fees and costs, and any transaction costs. Apply them to your current balance and likely contribution level. Product disclosure documents often present costs using a sample balance, but your own balance gives a more useful estimate.
Keep insurance separate from investment and administration costs. Premiums are important, but they reflect the cover attached to you rather than the efficiency of the investment product. Compare like-for-like cover by benefit amount and policy terms, not premium alone.
Use a scorecard without pretending it is exact
A one-page scorecard makes trade-offs visible. Include net long-term return, risk, annual fees in dollars, insurance fit, investment choice, digital service and advice access. Mark any item you cannot verify rather than filling the gap with a rating or award.
Once a shortlist emerges, read each product dashboard and relevant disclosure documents. Ask what would need to be true for the higher-cost option to be worthwhile, or what service and protection you would give up for the cheapest option. The decision should be explainable without referring to advertising slogans.
Quick reference
Key things to remember
- Match the investment mix and risk category.
- Use the same start and end dates for performance.
- Compare returns after investment fees and tax where possible.
- Translate percentage and fixed fees into annual dollars for your balance.
- Review insurance separately so it does not distort the investment comparison.
Put it into practice
Your next steps
- 01
Create a two-column scorecard.
- 02
Record five- and ten-year returns where available.
- 03
Run the fee calculation using your actual balance.
- 04
Write down what you gain and lose by switching.
Check the source
Official information
Super and tax rules change. These primary sources are the right place to verify the details before you act.