Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Industry fund
HESTA is open to everyone, with roots in health and community services. Its default insurance design is a particularly useful point of difference to investigate.
Anyone can join subject to product eligibility. Check whether the relevant product is HESTA Super, Personal Super or an employer-specific arrangement.
Retail investment platform
Perpetual Super Wrap provides investment choice and consolidated reporting for super and pension portfolios.
Confirm access, advice requirements and minimum balance in the current Super Wrap PDS before applying.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
| Measure | HESTA MySuper | Choose an investment option |
|---|---|---|
| Return basis | MySuper net return after administration costs, $50,000 representative member | Choose an option |
| 3-year return, per year | 9.26% | Choose an option |
| 5-year return, per year | 6.91% | Choose an option |
| 7-year return, per year | 7.47% | Choose an option |
| 10-year return, per year | 8.03% | Choose an option |
| APRA strategic growth allocation | 74.25% | Choose an option |
| Reported total fees, net of tax, at $50,000 | $405 a year (0.81%) | Choose an option |
| Administration and advice costs, net of tax (included in total) | $145 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 | HESTA | Perpetual Super Wrap |
|---|---|---|
| Membership and access | Anyone can join subject to product eligibility. Check whether the relevant product is HESTA Super, Personal Super or an employer-specific arrangement. Sources15 | Confirm access, advice requirements and minimum balance in the current Super Wrap PDS before applying. Sources123 |
| Accounts and products | HESTA Super and Personal Super; Corporate insurance arrangements need their own guide. HESTA Super HESTA Personal Super Retirement Income Stream Transition to Retirement Income Stream Sources7 | Perpetual Super Wrap superannuation and pension. Sources123 |
| Investment choices | Balanced Growth Balanced Growth is the MySuper default. Members can choose other ready-made or asset-class options. The menu includes Sustainable Growth and Indexed Balanced Growth; the Income Stream has its own investment range and disclosure document. Sources23 | The wrap offers a broad range of underlying investments. The current menu and each investment's disclosure govern availability, risk and any restrictions. Sources123 |
| Insurance | Eligible members receive default death and income protection cover; TPD cover is optional. HESTA also describes an insurance-premium pause for up to 12 months of approved parental leave, subject to conditions. Personal Super members need to check how cover is selected when joining. Sources45 | Check Super Wrap's own current terms for any available insurance. Insurance offered through another Perpetual super product should not be assumed to apply. Sources123 |
| Retirement income | HESTA offers Retirement and Transition to Retirement Income Streams. The fund publishes a separate pension investment menu, so check the income-stream allocation and costs rather than assuming they are identical to the super option with a similar name. Sources3 | The service supports accumulation, transition to retirement and retirement income arrangements. Sources123 |
| Advice and support | Most advice about a HESTA account is covered by administration fees. Advice tailored to starting an Income Stream has a separate fee, and comprehensive advice can be provided through an external referral on an agreed fee-for-service basis. Sources6 | The value of a wrap usually rests on the portfolio and advice services a member actually uses. Request a clear account of those services. Sources123 |
| Fee details to check | Add administration, investment and transaction costs for the selected option and the insurance you actually hold. HESTA's current fee page uses costs for the year ended 30 June 2026, including estimates, and warns that future costs can differ. Sources6 | Calculate platform charges together with underlying investments, transactions, cash-account effects and any adviser remuneration. Sources123 |
| Comparing investment performance | Use HESTA Super returns for a super comparison and Income Stream returns for a retirement comparison. Match Balanced Growth's asset mix with the competing option rather than using the word Balanced alone. Sustainable and indexed strategies need their own results. List HESTA's default insurance types explicitly. Treat Sustainable Growth as a specific investment option, not a description of every HESTA investment. Sources7 | Use the selected portfolio and actual costs. A return from WealthFocus or Select does not describe a Super Wrap member's investments. Sources123 |
THE SUPERGURU VIEW
HESTA merits a closer look for someone whose working life includes caring roles, part-time work or parental leave. Its default income protection and optional TPD structure makes a generic insurance tick-box misleading. Read the benefit definitions and waiting periods, and compare the cover you need rather than simply counting how many insurance types a fund advertises.
Sources4
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 someone who needs a broader portfolio service and wants the trustee to handle super compliance.
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 HESTA profile · Read the full Perpetual Super Wrap 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.