The Core Difference: Philosophy and Design
Raiz focuses on building the investing habit through behavioural nudges — round-ups, rewards programs, and regular small automated contributions. Spaceship Voyager focuses on giving investors access to growth-oriented, particularly tech-heavy portfolios at very low cost. Its three portfolios (Universe, Earth, Origin) are positioned around different growth philosophies rather than risk profiles.
Fee Comparison: The Numbers that Matter
Raiz charges $3.50/month for balances under $20,000 and 0.275% per year above that. On a $1,000 balance, this represents a 4.2% annual fee. Spaceship charges nothing for balances under $5,000 and 0.10% (Origin) or 0.20% (Universe/Earth) above $5,000. For investors with balances below $10,000, Spaceship is significantly cheaper than Raiz in most scenarios.
Portfolio Quality and Construction
Raiz's portfolios are constructed from iShares ETFs across major asset classes — Australian shares, global shares, emerging markets, real estate, government bonds, and cash. The portfolio construction is professionally done and well-diversified. Spaceship's Universe portfolio significantly overweights US technology companies. The Origin portfolio is a simpler, lower-cost indexed approach.
The Round-Up Feature: Raiz's Killer App
Raiz's round-up feature is its most distinctive and psychologically powerful tool. By automatically investing the spare change from every purchase, many Raiz users report accumulating $20–$50 per month in round-ups they wouldn't have noticed saving. Spaceship doesn't have an equivalent round-up feature.
The Verdict: Neither Is a Long-Term Destination
Both Raiz and Spaceship serve an important role as entry points to investing. Neither is the optimal long-term solution for building serious wealth. Once your investment balance exceeds $20,000–$30,000, transitioning to a direct ETF platform (Pearler, SelfWealth) with CHESS sponsorship becomes the financially optimal choice.
Raiz Rating: 3.5/5 | Spaceship Rating: 4/5 | Winner for small balances: Spaceship. Winner for behavioural features: Raiz.