The differences between the best products and the worst products on YourSuper are stark.
For example, Energy Industries Superannuation Scheme (EISS), which was labelled an underperformer on Tuesday, generated annual investment returns of just 6 per cent over the past seven years.
In contrast, Active Super, which is the top performer on YourSuper, generated returns of 9.5 per cent per annum on its high-growth investment option.
The YourSuper tool does not account for a product’s allocation to growth assets in its ranking system, so funds that are more heavily invested in equities will appear higher on the leaderboard, since they will generate higher returns on average.
Active Super allocates 89 per cent of its funds to high-return growth assets, according to data from the Australian Prudential Regulation Authority.
The second best fund, AustralianSuper, generated similar returns to Active Super but with a lower exposure to growth assets, suggesting it performed better on a risk-adjusted basis.
All of the figures are based on a 30-year-old member with a balance of $50,000. However, the tool allows users to customise the rankings based on their age and super balance.