Raiz and Spaceship Voyager are the two most popular micro-investing apps in Australia — and the question of which is better comes up constantly. The honest answer is: they're quite different products that suit different investors. This comparison breaks down every factor so you can decide which is right for your situation in 2026.
Raiz vs Spaceship: Quick Summary
| Factor | Raiz Invest | Spaceship Voyager |
|---|---|---|
| Minimum investment | $5 | $1 |
| Monthly fee (small balance) | $3.50/month | $2.50/month ($0 under $100) |
| Annual fee (large balance) | 0.275% | 0.10% |
| Portfolio options | 9 (including ESG, Bitcoin) | 3 (Universe, Earth, Origin) |
| Round-ups | Yes | Yes |
| Cashback rewards | Yes (Raiz Rewards) | No |
| Superannuation | Yes (Raiz Super) | Yes (Spaceship Super) |
| Kids accounts | Yes (Raiz Kids) | No |
| Self-directed ETFs | Yes (Raiz Plus) | No |
| Free tier | $0 fee under $1 balance only | $0 fee under $100 balance |
| Referral bonus | $5 each | $5–$30 each |
| ASIC regulated | Yes | Yes |
Fees: Spaceship Is Cheaper at Every Balance Level
This is the clearest difference between the two apps — Spaceship consistently charges less than Raiz.
Small balances (under $5,000)
Spaceship wins. At $2.50/month vs Raiz's $3.50/month, Spaceship saves you $12/year on a small balance. More importantly, Spaceship is completely free for balances under $100 — perfect for people just starting out. Raiz only waives fees when your balance is under $1 (effectively, you need to withdraw everything to avoid the fee).
Medium balances ($5,000–$20,000)
Spaceship still wins. Both platforms charge a flat monthly fee in this range ($2.50 vs $3.50). The difference is $12/year — not huge, but consistent. On a $10,000 balance, Spaceship's fee is 0.30% annually vs Raiz's 0.42%.
Large balances (over $20,000)
Spaceship wins significantly. Spaceship switches to 0.10% annual fee above $20,000. Raiz charges 0.275% — nearly three times more. On a $100,000 balance, that's $100 vs $275 annually — a $175/year difference that compounds meaningfully over time.
| Balance | Raiz Annual Cost | Spaceship Annual Cost | Spaceship Saving |
|---|---|---|---|
| $500 | $42.00 | $30.00 | $12/year |
| $2,000 | $42.00 | $30.00 | $12/year |
| $10,000 | $42.00 | $30.00 | $12/year |
| $30,000 | $82.50 | $30.00 | $52.50/year |
| $50,000 | $137.50 | $50.00 | $87.50/year |
| $100,000 | $275.00 | $100.00 | $175/year |
Fee verdict: Spaceship wins clearly at every balance level.
Portfolio Options: Raiz Offers More Choice
Raiz offers 9 portfolio options; Spaceship offers 3. This isn't necessarily better — more choice can lead to paralysis — but it does mean Raiz can better accommodate different risk profiles and investor preferences.
Conservative investors
Raiz wins. Raiz has Conservative, Moderately Conservative, and Moderate portfolios that are genuinely lower risk (higher bond allocation). Spaceship's most conservative option (Origin) is still classified as high growth. If you're risk-averse or have a short investment horizon, Raiz is the better fit.
Growth / aggressive investors
Spaceship Universe competes strongly. Spaceship's Universe portfolio — focused on global tech companies — has performed strongly during tech bull markets. Raiz's Aggressive portfolio is also heavily share-focused. Both suit long-term growth investors.
ESG / ethical investors
Both offer ESG options. Raiz has the Emerald portfolio; Spaceship has the Earth portfolio. Both apply ESG screens and invest in responsible companies. Personal preference and specific exclusions may determine which suits you better.
Bitcoin exposure
Raiz wins. Raiz's Sapphire portfolio includes Bitcoin exposure — Spaceship has no crypto option. For investors wanting some cryptocurrency exposure within a regulated investment product, Raiz is the only option of the two.
Self-directed ETF investing
Raiz wins. Raiz Plus allows you to build your own ETF portfolio from a curated list including VAS, IVV, NDQ, and GOLD. Spaceship has no equivalent — you're limited to their three pre-built portfolios.
Portfolio verdict: Raiz wins on breadth. Spaceship Universe is compelling for tech-focused growth investors.
Features: Raiz Has More
Round-ups
Both offer round-ups. Connect your spending account and both apps will round up purchases and invest the difference. Raiz's round-up feature is slightly more established and has more configuration options, but both work well.
Cashback Rewards
Raiz wins. Raiz Rewards allows you to earn cashback from purchases at partner brands, with the cashback automatically invested into your Raiz account. This is a genuine differentiator — regular shoppers can offset their monthly fee entirely through Rewards. Spaceship has no cashback program.
Kids Accounts
Raiz wins. Raiz Kids lets parents create investment accounts for children under 18, with the same round-up and deposit features. Spaceship has no equivalent product.
Superannuation
Both offer super. Raiz Super and Spaceship Super both let you manage superannuation in the same app as your personal investments. Spaceship Super is cheaper on larger super balances (0.10% vs Raiz's 0.275%). Both are worth comparing against your existing super fund before switching.
Spending Tracker
Raiz wins. Raiz has added income and spending tracking to help users understand their finances. Spaceship focuses purely on investment.
Features verdict: Raiz wins on features — more portfolios, Rewards, Kids accounts, and self-directed ETF access.
App Experience: Both Are Excellent
Both apps are well-designed, intuitive, and well-reviewed on the App Store and Google Play. Personal preference plays a role here.
Raiz app: Feature-rich, can feel slightly busier. The dashboard shows your investment balance, round-up accumulation, and Rewards in one place. More tabs and options to navigate.
Spaceship app: Cleaner, more minimal design. The holdings transparency feature (showing exactly which companies you own) is a genuine differentiator. Simpler to navigate for beginners.
Both apps have had occasional reliability issues during high-traffic periods (major market moves), which is common for most fintech apps.
App verdict: Tie — both are good. Spaceship is slightly cleaner; Raiz is more feature-packed.
Referral Bonuses: Spaceship's Is Currently Higher
Both platforms have active referral programs:
- Raiz: $5 for both referrer and referee (when referee completes first investment)
- Spaceship: $5–$30 for both parties depending on current promotions (recent promotions have offered $30 for a limited time)
Spaceship's current referral bonus is more attractive — but Raiz's $5 is guaranteed and doesn't depend on promotional periods.
Who Should Choose Raiz?
- Conservative investors — Raiz has lower-risk portfolio options that Spaceship doesn't offer
- Families — Raiz Kids allows investing for children; Spaceship has no equivalent
- Regular shoppers — Raiz Rewards can meaningfully offset the monthly fee for active shoppers at partner brands
- Bitcoin-curious investors — Raiz Sapphire portfolio offers crypto exposure in a regulated product
- Experienced investors wanting ETF control — Raiz Plus allows self-directed ETF portfolio building
- Investors who prioritise features over fee minimisation
Who Should Choose Spaceship?
- Fee-conscious investors — Spaceship is cheaper at every balance level
- Beginners starting very small — $1 minimum and $0 fee under $100 removes all financial barriers
- Growth investors wanting tech exposure — Spaceship Universe is purpose-built for this
- Investors planning to grow a large balance — 0.10% fee vs Raiz's 0.275% becomes very significant at $50,000+
- Minimalists who prefer simple app design and fewer decisions
- ESG investors — both have ESG options but Spaceship is slightly cheaper
Can You Use Both Raiz and Spaceship?
Yes — and many Australian investors do. There's no restriction on using both simultaneously, and they serve slightly different purposes:
- Use Spaceship Universe for long-term global growth exposure at low cost
- Use Raiz for round-ups and Rewards (the cashback makes it more cost-effective), and for access to conservative portfolios, Kids accounts, or Raiz Plus ETFs
Running both does mean paying two monthly fees ($2.50 + $3.50 = $6/month), which is only justified if both platforms are actively generating value for you.
Raiz vs Spaceship: The Verdict
For pure cost efficiency: Spaceship wins
If minimising fees is your priority — especially as your balance grows — Spaceship is the better platform at every balance level. The 0.10% annual fee above $20,000 is significantly better than Raiz's 0.275%.
For features and flexibility: Raiz wins
If you want more portfolio options, cashback rewards, kids accounts, or self-directed ETF access, Raiz offers a more complete feature set.
For beginners starting from zero: Spaceship edges ahead
The $1 minimum and $0 fee on balances under $100 makes Spaceship the lower-barrier starting point. Start on Spaceship, build your balance, and add Raiz once you want features like Rewards or Kids accounts.
For growth-focused long-term investors: Either works well
Both Spaceship Universe and Raiz's Aggressive portfolio provide strong global and Australian share market exposure for long-term investors. The fee difference becomes the deciding factor at this point — Spaceship wins on cost.
Frequently Asked Questions
Which is better for beginners — Raiz or Spaceship?
Both are excellent for beginners. Spaceship has a lower barrier ($1 minimum, free under $100) and a simpler interface. Raiz has more features and portfolio options. For the absolute easiest, cheapest start, Spaceship is slightly better. For beginners who want the round-up feature and cashback rewards, Raiz is competitive.
Which has better returns — Raiz or Spaceship?
Neither can guarantee better returns — investment performance depends on market conditions, portfolio choice, and investment timeline. Both invest in ETFs and shares that go up and down. Past performance does not guarantee future results. This is general information, not financial advice.
Can I transfer money between Raiz and Spaceship?
No — they're separate platforms. You can withdraw from one and deposit to the other, but there's no direct transfer mechanism. Withdrawals from either platform take 3–5 business days.
Is my money safe in both Raiz and Spaceship?
Both are ASIC-regulated and hold client funds in legally separate managed investment schemes — your money is separate from each company's corporate assets. Both are legitimate, regulated financial products. Read the relevant Product Disclosure Statements before investing.
Should I invest in Raiz or Spaceship for long-term wealth building?
For long-term wealth building at low cost, Spaceship's fee structure (0.10% above $20,000) is more efficient than Raiz's (0.275%). However, as balances grow significantly, direct ETF platforms like Pearler or SelfWealth become even more cost-effective. Neither Raiz nor Spaceship should be considered financial advice — speak to a licensed financial advisor for personal guidance.
Final Thoughts
Raiz and Spaceship are both legitimate, well-designed micro-investing platforms that have helped hundreds of thousands of Australians start investing. Neither is universally "better" — the right choice depends on your balance, goals, and which features you'll actually use.
If cost is your primary concern: choose Spaceship. If you want more features and portfolio diversity: choose Raiz. If you're just starting and want the lowest possible barrier: start with Spaceship's free tier. And if you can use both productively, there's nothing stopping you.
The most important step is simply starting. Both platforms make it easy — and starting early, even with small amounts, is the single biggest factor in long-term investment outcomes.
⚠️ This article contains general information only and does not constitute financial advice. Both Raiz and Spaceship Voyager are investment products — you can lose money. Read the relevant Product Disclosure Statements and consider your personal financial situation before investing. Past performance does not guarantee future results.