Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Retail platform
Expand is a super and pension platform with Essential and Extra product tiers. Its value depends on the investment menu and services a member actually uses.
Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy.
Retail fund
Vanguard Super offers an age-based Lifecycle default, other diversified and single-sector investments, and both retirement and transition-to-retirement accounts.
The SaveSmart PDS sets joining conditions. Insurance eligibility is separate and includes work-hours and occupation requirements for some cover types.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
The costs and returns belong to the selected product, option or lifecycle stage.
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
| What to compare | Expand | Vanguard Super |
|---|---|---|
| Membership and access | Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy. Sources2 | The SaveSmart PDS sets joining conditions. Insurance eligibility is separate and includes work-hours and occupation requirements for some cover types. Sources48 |
| Accounts and products | Expand Essential and Extra in IOOF Portfolio Service Superannuation Fund; not MLC MasterKey. Expand Essential Super and Pension Expand Extra Super and Pension Retirement Boost Sources1234567 | SaveSmart accumulation, SpendSmart pension and TransitionSmart TTR. Vanguard Super SaveSmart SpendSmart account-based pension TransitionSmart TTR Sources2 |
| Investment choices | Member-selected investments; not a single platform-wide MySuper default. Essential combines a menu of managed funds and model portfolios with Essential+, which adds selected ETFs and term deposits. Extra offers a much broader selection of managed funds, model portfolios and listed investments. Investments across menus can carry different administration charges. Sources1234 | Lifecycle Lifecycle changes the asset mix as a member ages. Members can choose other diversified options or single-sector options instead. The menu offers pooled investments inside super; it should not be described as a brokerage account for buying any Vanguard ETF. Sources1 |
| Insurance | Expand advertises group and retail insurance options. The policy, underwriting and cost depend on the cover arranged; the platform's investment features do not establish that a member is insured. Sources1 | Eligible members receive basic death and TPD cover. Income protection requires a separate application. Vanguard's public eligibility page lists a minimum recent work-hours condition and excludes hazardous occupations for TPD and income protection; TPD must be held with death cover and cannot exceed it. Sources45 |
| Retirement income | Both tiers have pension products. Retirement Boost adds a separate lifetime-income proposition with its own eligibility and access rules. It should be compared with other lifetime products rather than treated as an ordinary account-based pension. Sources125 | SpendSmart provides regular retirement income and lump-sum access for eligible members. TransitionSmart lets eligible working members draw pension payments while keeping a SaveSmart accumulation account for contributions. Sources23 |
| Advice and support | An advised arrangement needs two assessments: whether the adviser service is useful and whether the platform is an appropriate way to implement it. Ask for the full ongoing cost and the consequences of ending the advice relationship. Sources1234567 | Vanguard provides educational material and a Find an Adviser tool. Compare the scope and price of personal advice separately; the presence of a referral tool does not establish that comprehensive advice is included in the super fee. Sources7 |
| Fee details to check | Add platform administration, account charges, underlying investment fees, transaction or brokerage costs, insurance and any adviser fee. Essential+ has a higher administration rate on the first part of the balance than the ordinary Essential menu. A low fee quoted for one menu is not a price for every portfolio. Sources34 | Use the total annual fee for your selected option and balance, then account for insurance and buy/sell spreads. Vanguard says options other than Lifecycle can have different costs. A quoted Lifecycle percentage therefore should not be attached to every investment choice or pension product. Sources6 |
| Comparing investment performance | There is no single meaningful Expand investment return. Measure the chosen portfolio after all applicable costs. The performance test covers only eligible trustee-directed investments, so a result for one option does not describe every investment on the platform. State Essential versus Extra and the menu used. Keep option-specific performance-test outcomes attached to the relevant option IDs. Sources67 | Lifecycle performance is age-dependent. Compare an equivalent age allocation and period, and use super-product returns rather than the much longer track record of a Vanguard managed fund or ETF outside super. Those are different products with different costs and taxes. Show Lifecycle results for the same age. Include SpendSmart and TransitionSmart in retirement comparisons, and compare insurance eligibility explicitly. Sources12345678 |
THE SUPERGURU VIEW
Expand makes most sense to investigate when a person needs its investment or retirement features and can explain why. A broad platform can be useful with a carefully chosen portfolio, but it also creates several layers of fees to compare. The product tier and menu selection should be visible in any price comparison.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
Vanguard is a useful comparison for someone who wants a clearly described age-based investment approach. Its retirement accounts also let members move from saving to drawing an income within the fund. Insurance is the detail that can change the decision, particularly for someone in a hazardous occupation or with irregular working hours.
Sources4
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
Use the membership rules to establish which accounts are available to you. Then compare the total price of the investment option and cover you need. A lower fee or higher historical return alone does not tell you which fund is suitable.
Ask both funds to confirm insurance acceptance, exclusions, waiting periods and whether cover would change when you leave your employer. Obtain advice before giving up a defined benefit or an insurance policy you may not be able to replace. ASIC Moneysmart explains the comparison checks.
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Checked 2026-09-11. Documents and product terms can change after this date.
Checked 2026-09-11. Documents and product terms can change after this date.