SMSF comparison
SMSF vs Hostplus: which costs less in 2026?
By easySMSF, SMSF Specialist Team · Updated
Hostplus is well known for its low-cost Indexed Balanced option and Choiceplus platform. Choiceplus offers some direct share trading but with strict caps and no access to property, crypto, or international markets the way an SMSF does.
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The short answer
Hostplus charges a percentage of your balance, so your fee grows with your super. easySMSF charges a fixed $139 a month with the independent audit included. Past roughly $181,000 in combined member balances, the SMSF is the cheaper fund — about $2,932 a year cheaper at $500,000.
- Hostplus all-in fee
- ~0.92% /yr
- easySMSF admin
- $1,668 /yr fixed
- Break-even balance
- $181,000
How the costs compare
Hostplus charges around 0.92% per year on the default Balanced option (balanced option, all-in (admin + investment).). That percentage applies to your entire balance — so the dollar cost rises every year as your fund grows.
easySMSF charges a fixed $139 a month for full SMSF administration, tax and the independent audit. Because the fee never scales with assets, the effective percentage you pay falls every year the fund grows. The crossover — where an SMSF starts costing less than Hostplus in absolute dollars — sits at roughly $181,000 in combined member balances.
Beyond cost, the bigger story is what you can actually hold. Hostplus restricts you to pre-built investment options (and at best a 'member direct' platform with asset-class caps). An SMSF lets you hold direct ASX and global shares, residential and commercial property, ETFs, term deposits, bullion and crypto — all in the fund's own name.
- Hostplus default fee: ~0.92% per year on your full balance
- easySMSF fee: fixed monthly — shrinks as a percentage as your balance grows
- Crossover balance: about $181,000 combined
- Hostplus pro: Indexed Balanced option has very low fees
- Hostplus pro: Choiceplus enables some ASX 300 / ETF / term deposit choice
- Hostplus pro: Pooled insurance often cheap for younger members
- Hostplus limit: Choiceplus restricted to ASX 300 + ETFs + term deposits
- Hostplus limit: 20% cap on any single share — no concentration possible
- Hostplus limit: No direct property, no LRBA, no global market access
Hostplus fees vs easySMSF at different balances
Hostplus charges roughly 0.92% a year on the Balanced option, so the dollar cost climbs with your balance. easySMSF charges a fixed $139 a month ($1,668 a year) covering administration, tax and the independent audit — the same figure whether the fund holds $200,000 or $2 million.
| Combined balance | Hostplus (~0.92%) | easySMSF (fixed) | Difference a year |
|---|---|---|---|
| $200,000 | $1,840 | $1,668 | $172 cheaper with an SMSF |
| $400,000 | $3,680 | $1,668 | $2,012 cheaper with an SMSF |
| $600,000 | $5,520 | $1,668 | $3,852 cheaper with an SMSF |
| $1,000,000 | $9,200 | $1,668 | $7,532 cheaper with an SMSF |
Estimates only. Hostplus figures use publicly disclosed balanced option, all-in (admin + investment). easySMSF figures exclude the one-off setup fee and any ASIC annual review fee for a corporate trustee. Insurance premiums are not included on either side.
The crossover sits at about $181,000 in combined member balances. Below that, Hostplus generally costs less in absolute dollars. Above it, the fixed fee wins and the gap widens every year the balance grows. Two members pooling their balances reach that point roughly twice as fast — run your own numbers in the SMSF fee calculator.
What you can hold: Hostplus vs an SMSF
Hostplus's member-directed option, Choiceplus, covers S&P/ASX 300 shares, around 100 ETFs, LICs and term deposits. At least $10,000 must remain outside Choiceplus, no more than 20% can sit in any one share, and there is a separate Choiceplus portfolio fee on top of the fund's admin fee.
| Investment or feature | Hostplus | SMSF with easySMSF |
|---|---|---|
| Direct ASX shares | Via Choiceplus, ASX 300 only | Any listed ASX security, no concentration cap |
| International shares | Only through pooled international options | Direct global brokerage in the fund's own name |
| Residential property | Not available | Yes, held directly by the fund |
| Commercial / business real property | Not available | Yes, and it can be leased to your own business at market rates |
| Borrowing (LRBA) | Not available | Yes, under a limited recourse borrowing arrangement |
| Term deposits and cash | Available via Choiceplus | Any bank, any term, chosen by the trustees |
| Who owns the assets | The fund's pooled trust — you hold units | Your fund, in its own name, with you as trustee |
| Insurance | Automatic group cover, no underwriting for default cover | Arranged separately and underwritten before you switch |
| Fee basis | About 0.92% of your balance, every year | Fixed $139 a month regardless of balance |
Choiceplus in detail: where it stops and an SMSF starts
Choiceplus is Hostplus's member-directed option. It is genuinely useful — you can pick individual ASX 300 shares, around 100 ETFs, LICs and term deposits inside super, without leaving the fund. What it is not is direct ownership: the assets sit inside the Hostplus trust, the investment rules are set by the trustee, and several structural limits apply that most people only discover after they start using it.
The practical limits are the $10,000 that must stay invested outside Choiceplus, the cap of 20% of your balance in any single share, and the separate Choiceplus portfolio fee that sits on top of the fund's administration fee. If your plan is a concentrated position, an international portfolio, direct property, or a limited recourse borrowing arrangement, Choiceplus cannot do it at any balance.
An SMSF removes those constraints, but it adds trustee responsibility: an annual audit, an investment strategy you document and review, and lodgement with the ATO. That is the actual trade-off — flexibility and ownership in exchange for governance, most of which easySMSF handles on a fixed monthly fee.
| Rule or limit | Choiceplus | SMSF with easySMSF |
|---|---|---|
| Minimum held outside the platform | At least $10,000 must stay in Hostplus pre-mixed options | None — the fund can be fully invested as the trustees decide |
| Single-share concentration | Capped at 20% of your balance | No cap; limited only by your documented investment strategy |
| Share universe | S&P/ASX 300 only | Any ASX-listed security, plus global markets via a broker |
| ETFs | Around 100 on the approved Choiceplus list | Any ETF your broker offers, Australian or offshore |
| Property and borrowing | Not available in Choiceplus or any Hostplus option | Direct residential (cash) or business real property, and LRBA borrowing for commercial property |
| Platform cost | Choiceplus portfolio fee on top of the fund administration fee | Fixed monthly administration fee, plus your chosen broker's costs |
| Cash account | A transaction account is maintained inside Choiceplus | The fund's own bank account, in the fund's name |
Based on Hostplus's publicly disclosed product information. Check the current PDS before acting — fund rules and fees change.
How Hostplus and an SMSF typically compare
Members commonly stay with Hostplus when
you are early in your career, want the low-cost Indexed Balanced option, and rely on the fund's group insurance.
Members commonly consider an SMSF when
you have outgrown the 20% concentration cap, want international shares or property, or your combined household balance means a fixed fee costs less than a percentage of assets.
General advice warning
Figures shown are illustrative only and based on the inputs and assumptions you provide. They are general information, not personal financial product advice. Consider your objectives, financial situation and needs, and seek personal advice from a licensed financial adviser before acting. easySMSF does not hold an Australian Financial Services Licence (AFSL).
How to move from Hostplus to an SMSF
- 1
Sort your insurance first
If you hold life, TPD or income protection inside Hostplus, apply for replacement cover and have it accepted in writing before anything moves. Rolling out first can leave you uninsured, and cover is not always reissued if your health has changed.
- 2
Establish the fund and trustee structure
We prepare the trust deed, lodge the ABN and TFN applications on your behalf as your agent, coordinate the bank account and, for a corporate trustee, lodge the special purpose company application with ASIC. The one-off fee covers our professional work; government charges are separate.
- 3
Document the investment strategy
The ATO requires a written strategy covering risk, diversification, liquidity, and whether the fund holds insurance for members. We provide a template and review it with you.
- 4
Roll over from Hostplus via SuperStream
Once the fund is registered and shows on Super Fund Lookup, the rollover request is submitted electronically. Hostplus generally releases the balance within a few business days of a valid SuperStream request.
- 5
Redirect contributions and start investing
Give your employer the fund's new details, then invest according to the strategy. From there we handle the accounts, the annual return and the independent audit on a fixed monthly fee.
Most funds are registered and ready to receive a rollover within a few days — see the full SMSF setup timeline or read how SuperStream rollovers work.
Frequently asked questions
General advice warning
Figures shown are illustrative only and based on the inputs and assumptions you provide. They are general information, not personal financial product advice. Consider your objectives, financial situation and needs, and seek personal advice from a licensed financial adviser before acting. easySMSF does not hold an Australian Financial Services Licence (AFSL).