Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Industry fund
First Super has a compact investment menu and offers super, transition-to-retirement and retirement income accounts. Members can get help with their investment choice without a separate advice charge.
The fund accepts new members through its public joining process. Read the relevant PDS and target market determination before opening an account.
Retail fund brand
Freedom of Choice is an Acclaim-administered super and pension product with managed funds, listed investments and term deposits.
The current disclosure library provides separate application forms for personal super and pension.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
| Measure | Balanced - accumulation | Choose an investment option |
|---|---|---|
| Return basis | MySuper net return after administration costs, $50,000 representative member | Choose an option |
| 3-year return, per year | 8.35% | Choose an option |
| 5-year return, per year | 6.94% | Choose an option |
| 7-year return, per year | 6.62% | Choose an option |
| 10-year return, per year | 7.25% | Choose an option |
| APRA strategic growth allocation | 79.50% | Choose an option |
| Reported total fees, net of tax, at $50,000 | $560 a year (1.12%) | Choose an option |
| Administration and advice costs, net of tax (included in total) | $175 a year | Choose an option |
| 2026 performance test | Pass | Choose an option |
| New-member status at reporting date | Check the current product eligibility rules | Check the current product eligibility rules |
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 | First Super | Freedom of Choice Super |
|---|---|---|
| Membership and access | The fund accepts new members through its public joining process. Read the relevant PDS and target market determination before opening an account. Sources1234 | The current disclosure library provides separate application forms for personal super and pension. Sources1234 |
| Accounts and products | Accumulation super, transition-to-retirement account and Retirement Income account. Sources1234 | Freedom of Choice Personal Super and Pension. Sources1234 |
| Investment choices | Balanced is the MySuper default. The other options are Conservative Balanced, Growth, Shares Plus and Cash. Members can split their balance across options. Sources1234 | The menu includes more than 150 managed funds, approved ASX300 shares and ETFs, term deposits and a cash account. Sources1234 |
| Insurance | Insurance through super is available. Check the current insurance guide for the cover offered to your membership category and the cost at your age. Sources1234 | An insurance guide and occupation-rating forms set out the available cover. Do not assume the terms match Acclaim Core or an employer arrangement. Sources1234 |
| Retirement income | A Retirement Income account allows a choice of investment mix and payment frequency. Pension payments can be fortnightly, monthly, quarterly, half-yearly or yearly, subject to the required annual minimum. Sources1234 | A personal pension account is available with separate application and product terms. Sources1234 |
| Advice and support | The fund says advice about its investment options is available to members at no extra cost. A wider advice request needs a separate scope and cost check. Sources1234 | Adviser nomination and advice-fee consent forms are part of the service. Confirm who will make investment decisions and what they will charge. Sources1234 |
| Fee details to check | The current fees page gives a $50,000 Balanced example of $465.80 a year, including administration, investment and transaction costs, before any additional applicable fees. This is an example for that option and balance, not a universal member bill. Sources1234 | Use Freedom of Choice's own reference guide and July 2026 updates. Platform, investments, transactions, cash and advice can all contribute to the cost. Sources1234 |
| Comparing investment performance | Compare Balanced with portfolios carrying a similar growth allocation, over the same dates. Shares Plus and Cash have different risk profiles and should not be ranked as though they pursue the same outcome. Sources1234 | Evaluate the selected managed funds or the member's complete portfolio; another AMG Super product's return is not a substitute. Sources1234 |
THE SUPERGURU VIEW
A useful shortlist candidate for someone who wants to choose among a small number of diversified strategies rather than manage individual securities.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
May suit a member working with an adviser who needs this menu and has compared its total cost with alternatives.
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.
Read the full First Super profile · Read the full Freedom of Choice Super profile · Choose another comparison
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.