Best risk-adjusted equity funds
97 funds match this screen, ranked on Sharpe ratio. Which equity funds earned the most return per unit of risk?
Criteria: Equity funds with a Sharpe ratio of 0.8 or higher.
Sharpe is return above a 6.5% risk-free rate, divided by volatility. A fund can top the return tables by taking more risk; this screen asks which funds were paid best for the risk they actually took. 0.8 is roughly the top 13% of equity funds.
Best risk-adjusted equity funds, ranked by Sharpe ratio
| # | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Nippon India Taiwan Equity Fund- Direct Plan- Growth OptionGold | Sectoral/Thematic | — | +36.53% | 71% | -44.8% | +63.51% | ₹947 Cr | 1.13% |
| 2 | SBI HEALTHCARE OPPORTUNITIES FUND - DIRECT PLAN -GROWTHPlatinum | Sectoral/Thematic | 1.20 | +20.84% | 61% | -30.5% | +24.69% | ₹5,400 Cr | 1.02% |
| 3 | HDFC Defence Fund - Growth Option - Direct PlanPlatinum | Sectoral/Thematic | — | — | — | -34.5% | +41.96% | ₹10,709 Cr | 0.89% |
| 4 | UTI Healthcare Fund - Direct Plan - Growth OptionPlatinum | Sectoral/Thematic | 1.10 | +17.73% | 50% | -27.1% | +24.66% | ₹1,371 Cr | 1.27% |
| 5 | HDFC Transportation and Logistics Fund - Growth Option - Direct PlanPlatinum | Sectoral/Thematic | — | — | — | -23.5% | +27.65% | ₹1,955 Cr | 1.07% |
| 6 | DSP Healthcare Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.98 | +22.90% | 90% | -21.7% | +22.23% | ₹3,639 Cr | 0.73% |
| 7 | ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund - Direct Plan - Cumulative OptionGold | Sectoral/Thematic | 1.07 | +25.31% | 89% | -20.6% | +23.47% | ₹6,803 Cr | 1.32% |
| 8 | Aditya Birla Sun Life Pharma and Healthcare Fund-Direct-GrowthPlatinum | Sectoral/Thematic | 1.03 | +19.80% | 68% | -20.5% | +22.55% | ₹1,074 Cr | 1.02% |
| 9 | Kotak Pioneer Fund- Direct Plan- Growth OptionGold | Sectoral/Thematic | 0.90 | +22.14% | 95% | -35.7% | +21.83% | ₹4,023 Cr | 0.63% |
| 10 | ICICI Prudential Innovation Fund - Direct Plan - GrowthGold | Sectoral/Thematic | — | — | — | -16.5% | +21.22% | ₹7,844 Cr | 1.18% |
| 11 | Mirae Asset Healthcare Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 1.05 | +23.24% | 85% | -20.0% | +23.25% | ₹3,442 Cr | 0.62% |
| 12 | BANDHAN SMALL CAP FUND - DIRECT PLAN GROWTHPlatinum | Small Cap Fund | 0.99 | +31.41% | 100% | -24.3% | +27.19% | ₹31,103 Cr | 0.60% |
| 13 | ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 1.36 | +27.29% | 100% | -23.6% | +26.31% | ₹3,951 Cr | 1.21% |
| 14 | Franklin India Opportunities Fund - Direct - GrowthGold | Sectoral/Thematic | 0.91 | +19.06% | 54% | -39.3% | +23.26% | ₹9,344 Cr | 0.92% |
| 15 | Invesco India Midcap Fund - Direct Plan - Growth OptionSilver | Mid Cap Fund | 0.98 | +23.37% | 56% | -34.1% | +25.99% | ₹14,721 Cr | 0.77% |
| 16 | DSP Value Fund - Direct Plan - GrowthPlatinum | Value Fund | 1.01 | +18.74% | 49% | -16.4% | +17.87% | ₹2,143 Cr | 1.61% |
| 17 | WhiteOak Capital Mid Cap Fund Direct Plan GrowthPlatinum | Mid Cap Fund | 1.25 | +26.83% | 100% | -19.3% | +24.47% | ₹6,792 Cr | 0.98% |
| 18 | Franklin Asian Equity Fund - Direct - GrowthGold | Sectoral/Thematic | 0.76 | +8.78% | 4% | -40.2% | +22.99% | ₹954 Cr | 1.61% |
| 19 | Invesco India Large & Mid Cap Fund - Direct Plan - GrowthPlatinum | Large & Mid Cap Fund | 0.97 | +18.07% | 50% | -35.3% | +24.95% | ₹11,746 Cr | 0.80% |
| 20 | Aditya Birla Sun Life Manufacturing Equity Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.84 | +15.35% | 36% | -39.2% | +23.14% | ₹1,288 Cr | 1.43% |
| 21 | ITI Small Cap Fund - Direct Plan - Growth OptionGold | Small Cap Fund | 0.95 | +26.69% | 95% | -39.9% | +26.86% | ₹3,454 Cr | 0.89% |
| 22 | Invesco India Focused Fund - Direct Plan - GrowthGold | Focused Fund | 0.93 | +23.29% | 100% | -22.0% | +23.50% | ₹6,065 Cr | 0.70% |
| 23 | HSBC Midcap Fund - Direct GrowthPlatinum | Mid Cap Fund | 0.92 | +26.17% | 100% | -26.0% | +26.24% | ₹15,578 Cr | 1.20% |
| 24 | BANK OF INDIA Manufacturing & Infrastructure Fund-Direct Plan-GrowthPlatinum | Sectoral/Thematic | 0.97 | +20.53% | 57% | -43.5% | +25.15% | ₹893 Cr | 1.03% |
| 25 | Tata India Pharma & Healthcare Fund-Direct Plan-GrowthGold | Sectoral/Thematic | 0.91 | +21.24% | 69% | -19.8% | +20.36% | ₹1,541 Cr | 1.01% |
| 26 | ICICI Prudential Manufacturing Fund - Direct Plan - Cumulative OptionPlatinum | Sectoral/Thematic | 0.89 | +26.09% | 98% | -37.6% | +23.16% | ₹7,148 Cr | 1.21% |
| 27 | Axis Multicap Fund - Direct GrowthGold | Multi Cap Fund | 1.19 | +22.78% | 98% | -18.1% | +21.91% | ₹10,973 Cr | 1.10% |
| 28 | Invesco India Smallcap Fund - Direct Plan - GrowthGold | Small Cap Fund | 0.89 | +28.58% | 97% | -37.7% | +24.89% | ₹14,475 Cr | 0.64% |
| 29 | Aditya Birla Sun Life Special Opportunities Fund-Direct-GrowthPlatinum | Sectoral/Thematic | 0.88 | +19.98% | 81% | -20.3% | +21.10% | ₹1,263 Cr | 1.26% |
| 30 | BANDHAN TRANSPORTATION AND LOGISTICS FUND - GROWTH - DIRECT PLANPlatinum | Sectoral/Thematic | 1.26 | +24.84% | 100% | -25.0% | +23.41% | ₹738 Cr | 1.07% |
| 31 | Edelweiss Mid Cap Fund - Direct Plan - Growth OptionSilver | Mid Cap Fund | 0.95 | +26.10% | 72% | -39.2% | +23.88% | ₹18,693 Cr | 0.72% |
| 32 | ICICI Prudential MidCap Fund - Direct Plan - GrowthPlatinum | Mid Cap Fund | 0.90 | +21.28% | 48% | -44.0% | +24.40% | ₹7,954 Cr | 1.11% |
| 33 | LIC MF Infrastructure Fund-Direct Plan-GrowthGold | Sectoral/Thematic | 0.89 | +15.50% | 45% | -39.6% | +27.41% | ₹1,145 Cr | 1.34% |
| 34 | Axis Value Fund - Direct Plan - GrowthGold | Value Fund | 1.24 | +23.23% | 98% | -20.2% | +20.24% | ₹1,767 Cr | 0.99% |
| 35 | Nippon India Pharma Fund - Direct Plan Growth Plan - Growth OptionGold | Sectoral/Thematic | 0.90 | +19.96% | 59% | -24.0% | +19.18% | ₹9,279 Cr | 1.00% |
| 36 | Axis Innovation Fund - Direct Plan - Growth OptionGold | Sectoral/Thematic | 0.73 | +16.20% | 27% | -23.6% | +18.82% | ₹1,257 Cr | 1.39% |
| 37 | Kotak Manufacture in India Fund - Direct Plan GrowthPlatinum | Sectoral/Thematic | 0.99 | +22.09% | 98% | -22.3% | +21.60% | ₹2,951 Cr | 0.75% |
| 38 | Sundaram Mid Cap Fund Direct Plan - GrowthSilver | Mid Cap Fund | 0.88 | +21.13% | 47% | -44.3% | +21.96% | ₹14,504 Cr | 1.05% |
| 39 | ITI Pharma and Healthcare Fund - Direct Plan - Growth OptionSilver | Sectoral/Thematic | 0.91 | +21.55% | 100% | -17.7% | +20.33% | ₹263 Cr | 0.92% |
| 40 | HDFC Focused Fund - Growth Option - Direct Plan | Focused Fund | 0.86 | +17.13% | 51% | -45.6% | +17.56% | ₹27,925 Cr | 0.80% |
| 41 | HDFC Flexi Cap Fund - Growth Option - Direct PlanSilver | Flexi Cap Fund | 0.85 | +17.74% | 54% | -41.8% | +17.75% | ₹1.11 Lakh Cr | 0.77% |
| 42 | DSP India T.I.G.E.R. Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.83 | +19.34% | 53% | -46.9% | +23.35% | ₹6,325 Cr | 1.06% |
| 43 | BANK OF INDIA Small Cap Fund Direct Plan GrowthPlatinum | Small Cap Fund | 0.77 | +29.78% | 78% | -32.4% | +24.07% | ₹2,819 Cr | 0.73% |
| 44 | ICICI Prudential PSU Equity Fund - Direct Plan - GrowthGold | Sectoral/Thematic | 1.17 | +28.33% | 100% | -23.0% | +24.17% | ₹1,875 Cr | 1.28% |
| 45 | Bandhan Large & Mid Cap Fund - Direct Plan - GrowthGold | Large & Mid Cap Fund | 0.85 | +17.58% | 48% | -38.5% | +20.04% | ₹19,777 Cr | 1.24% |
| 46 | SBI FOCUSED FUND - DIRECT PLAN -GROWTHPlatinum | Focused Fund | 0.75 | +16.67% | 49% | -32.7% | +17.17% | ₹50,041 Cr | 0.80% |
| 47 | ICICI Prudential Focused Equity Fund - Direct Plan - GrowthSilver | Focused Fund | 0.80 | +16.68% | 50% | -34.1% | +18.87% | ₹17,764 Cr | 1.18% |
| 48 | Motilal Oswal Large and Midcap Fund - Direct Plan GrowthPlatinum | Large & Mid Cap Fund | 0.79 | +27.32% | 97% | -37.4% | +24.34% | ₹18,445 Cr | 0.92% |
| 49 | ITI Mid Cap Fund - Direct Plan - Growth OptionGold | Mid Cap Fund | 1.08 | +25.34% | 97% | -22.7% | +23.35% | ₹1,480 Cr | 0.94% |
| 50 | Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth OptionPlatinum | ELSS | 0.76 | +19.27% | 56% | -37.7% | +23.65% | ₹4,784 Cr | 0.97% |
| 51 | ICICI Prudential Flexicap Fund - Direct Plan - GrowthPlatinum | Flexi Cap Fund | 1.05 | +20.15% | 95% | -19.7% | +19.19% | ₹24,100 Cr | 0.88% |
| 52 | quant BFSI Fund - Growth Option - Direct PlanGold | Sectoral/Thematic | — | — | — | -22.3% | +23.89% | ₹899 Cr | 1.90% |
| 53 | ICICI Prudential Large & Mid Cap Fund - Direct Plan - GrowthGold | Large & Mid Cap Fund | 0.80 | +17.87% | 49% | -37.4% | +18.11% | ₹32,706 Cr | 1.34% |
| 54 | Mahindra Manulife Mid Cap Fund - Direct Plan -GrowthGold | Mid Cap Fund | 0.88 | +25.73% | 83% | -33.1% | +22.42% | ₹5,186 Cr | 0.75% |
| 55 | Nippon India Growth Mid Cap Fund - Direct Plan Growth Plan - Growth OptionGold | Mid Cap Fund | 0.86 | +22.11% | 51% | -35.3% | +21.78% | ₹50,751 Cr | 0.79% |
| 56 | HDFC Mid Cap Fund - Growth Option - Direct PlanGold | Mid Cap Fund | 0.87 | +23.14% | 54% | -39.5% | +20.38% | ₹1.05 Lakh Cr | 0.75% |
| 57 | UTI-Transportation and Logistics Fund-Growth Option- DirectPlatinum | Sectoral/Thematic | 0.80 | +19.82% | 54% | -56.9% | +21.69% | ₹4,263 Cr | 0.87% |
| 58 | Motilal Oswal Midcap Fund-Direct Plan-Growth OptionSilver | Mid Cap Fund | 0.73 | +22.11% | 51% | -37.2% | +21.71% | ₹40,036 Cr | 0.93% |
| 59 | Motilal Oswal Flexi cap Fund Direct Plan-Growth OptionSilver | Flexi Cap Fund | 0.80 | +15.24% | 42% | -37.1% | +21.05% | ₹13,940 Cr | 1.32% |
| 60 | ICICI Prudential India Opportunities Fund - Direct Plan - Cumulative Option | Sectoral/Thematic | 0.82 | +26.60% | 97% | -40.1% | +17.20% | ₹38,299 Cr | 0.91% |
| 61 | Invesco India Flexi Cap Fund - Direct Plan - GrowthGold | Flexi Cap Fund | 1.16 | +22.30% | 100% | -19.4% | +20.41% | ₹5,468 Cr | 0.78% |
| 62 | ITI Focused Fund - Direct Plan - GrowthPlatinum | Focused Fund | — | — | — | -18.4% | +21.09% | ₹612 Cr | 0.88% |
| 63 | quant Healthcare Fund - Growth Option - Direct PlanSilver | Sectoral/Thematic | — | — | — | -25.2% | +21.47% | ₹397 Cr | 1.49% |
| 64 | Bajaj Finserv Flexi Cap Fund-Direct Plan-GrowthGold | Flexi Cap Fund | — | — | — | -17.5% | +18.11% | ₹8,173 Cr | 0.99% |
| 65 | DSP Natural Resources and New Energy Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.88 | +22.00% | 73% | -48.0% | +21.55% | ₹2,441 Cr | 1.03% |
| 66 | BANK OF INDIA Flexi Cap Fund Direct Plan -GrowthPlatinum | Flexi Cap Fund | 0.78 | +24.80% | 99% | -23.7% | +22.22% | ₹2,786 Cr | 0.86% |
| 67 | HSBC Multi Cap Fund - Direct - GrowthGold | Multi Cap Fund | — | +22.34% | 100% | -20.1% | +21.16% | ₹6,068 Cr | 0.82% |
| 68 | CANARA ROBECO INFRASTRUCTURE FUND - DIRECT PLAN - GROWTH OPTIONSilver | Sectoral/Thematic | 0.79 | +21.40% | 56% | -44.1% | +22.62% | ₹989 Cr | 1.11% |
| 69 | Nippon India Power & Infra Fund - Direct Plan Growth Plan - Growth OptionPlatinum | Sectoral/Thematic | 0.75 | +18.24% | 51% | -53.2% | +22.53% | ₹8,042 Cr | 1.13% |
| 70 | ICICI Prudential Business Cycle Fund Direct Plan GrowthGold | Sectoral/Thematic | 1.35 | +23.67% | 96% | -14.4% | +17.31% | ₹16,123 Cr | 0.97% |
| 71 | LIC MF Multi Cap Fund-Direct Plan-GrowthGold | Multi Cap Fund | — | +20.97% | 99% | -19.3% | +20.29% | ₹2,130 Cr | 0.83% |
| 72 | Mahindra Manulife Small Cap Fund - Direct Plan - GrowthGold | Small Cap Fund | — | +24.54% | 88% | -26.0% | +22.56% | ₹5,087 Cr | 0.96% |
| 73 | ICICI Prudential Multicap Fund - Direct Plan - GrowthPlatinum | Multi Cap Fund | 0.74 | +17.70% | 45% | -38.9% | +18.44% | ₹18,769 Cr | 1.03% |
| 74 | 360 ONE FLEXICAP FUND-DIRECT PLAN- GROWTHGold | Flexi Cap Fund | — | — | — | -18.1% | +19.69% | ₹2,197 Cr | 0.96% |
| 75 | Invesco India Financial Services Fund - Direct Plan - GrowthBronze | Sectoral/Thematic | 0.83 | +18.65% | 56% | -42.4% | +19.85% | ₹1,845 Cr | 0.94% |
| 76 | ICICI Prudential Exports & Services Fund - Direct Plan - Growth | Sectoral/Thematic | 0.77 | +18.64% | 55% | -37.5% | +16.85% | ₹1,487 Cr | 1.79% |
| 77 | BARODA BNP PARIBAS Mid Cap Fund - Direct Plan - Growth OptionGold | Mid Cap Fund | 0.86 | +21.61% | 47% | -18.6% | +19.74% | ₹2,584 Cr | 0.77% |
| 78 | WhiteOak Capital ELSS Tax Saver Fund Direct Plan GrowthGold | ELSS | 1.15 | +21.01% | 98% | -16.4% | +18.63% | ₹494 Cr | 0.87% |
| 79 | JM Midcap Fund (Direct) - GrowthGold | Mid Cap Fund | — | +24.81% | 92% | -22.5% | +21.69% | ₹1,295 Cr | 0.98% |
| 80 | ITI Flexi Cap Fund- Direct Plan- GrowthPlatinum | Flexi Cap Fund | — | +20.59% | 100% | -21.4% | +20.35% | ₹1,467 Cr | 0.94% |
| 81 | SBI PSU Fund - DIRECT PLAN - GROWTHGold | Sectoral/Thematic | 0.81 | +10.53% | 34% | -47.1% | +24.80% | ₹6,678 Cr | 0.86% |
| 82 | ICICI Prudential Infrastructure Fund - Direct Plan - GrowthSilver | Sectoral/Thematic | 0.77 | +18.31% | 52% | -46.8% | +20.43% | ₹8,523 Cr | 1.30% |
| 83 | Quant Value Fund - Growth Option - Direct PlanPlatinum | Value Fund | 0.90 | +23.70% | 99% | -24.0% | +22.34% | ₹1,945 Cr | 0.92% |
| 84 | HDFC Value Fund - Growth Option - Direct PlanGold | Value Fund | 0.72 | +17.31% | 39% | -43.9% | +18.17% | ₹7,934 Cr | 1.12% |
| 85 | Kotak Midcap Fund - Direct Plan - GrowthSilver | Mid Cap Fund | 0.79 | +22.77% | 56% | -36.0% | +20.14% | ₹69,283 Cr | 0.51% |
| 86 | Axis Large & Mid Cap Fund - Direct Plan - GrowthGold | Large & Mid Cap Fund | 0.75 | +20.94% | 78% | -31.9% | +17.61% | ₹16,802 Cr | 0.90% |
| 87 | Bank of India Multi Cap Fund Direct Plan - GrowthPlatinum | Multi Cap Fund | — | +21.27% | 100% | -20.3% | +20.37% | ₹1,259 Cr | 1.24% |
| 88 | Invesco India Infrastructure Fund - Direct Plan - Growth OptionGold | Sectoral/Thematic | 0.71 | +22.87% | 61% | -36.2% | +23.46% | ₹1,540 Cr | 1.19% |
| 89 | Aditya Birla Sun Life Flexi Cap Fund - Growth - Direct PlanPlatinum | Flexi Cap Fund | 0.71 | +17.09% | 55% | -38.6% | +17.26% | ₹28,112 Cr | 0.90% |
| 90 | Aditya Birla Sun Life PSU Equity Fund-Direct Plan-GrowthPlatinum | Sectoral/Thematic | 0.76 | +32.93% | 100% | -33.8% | +24.49% | ₹5,986 Cr | 0.71% |
| 91 | Parag Parikh Flexi Cap Fund - Direct Plan - Growth | Flexi Cap Fund | 0.83 | +19.17% | 61% | -31.2% | +14.54% | ₹1.48 Lakh Cr | 0.68% |
| 92 | Kotak Business Cycle - Direct Plan - GrowthSilver | Sectoral/Thematic | 0.96 | +18.49% | 70% | -18.4% | +17.99% | ₹3,411 Cr | 0.79% |
| 93 | Axis Midcap Fund - Direct Plan - GrowthBronze | Mid Cap Fund | 0.74 | +19.65% | 34% | -29.4% | +18.65% | ₹34,404 Cr | 0.86% |
| 94 | UTI Large & Mid Cap Fund - Direct Plan - Growth OptionSilver | Large & Mid Cap Fund | 0.72 | +16.32% | 44% | -41.5% | +17.47% | ₹6,407 Cr | 1.08% |
| 95 | ITI Multi Cap Fund - Direct Plan - Growth OptionGold | Multi Cap Fund | 0.71 | +20.63% | 74% | -38.7% | +19.58% | ₹1,468 Cr | 0.87% |
| 96 | Aditya Birla Sun Life Nifty Smallcap 50 Index Fund-Direct GrowthGold | Index Funds | 0.97 | +22.71% | 100% | -36.7% | +22.55% | ₹348 Cr | 0.58% |
| 97 | BANDHAN MIDCAP FUND - GROWTH - DIRECT PLANSilver | Mid Cap Fund | 0.97 | +21.90% | 54% | -22.7% | +20.64% | ₹2,403 Cr | 0.76% |
Badges are our own quality tiers — Platinum (top 10%), Gold (25%), Silver (50%), Bronze (75%) — scored within each sub-category, so they compare a fund with its peers and not with funds of a different type. “3Y typical” is the median annualised return across every 3-year holding period the fund has lived through, not a single 3-year figure; “3Y loss odds” is the share of those periods that ended down. “Beat peers” is the share in which it beat its category's median, and “worst fall” is its deepest peak-to-trough drop. Open a fund for the full distribution. Click any column heading to re-sort — including the fund name, which groups a house’s funds together. Funds with no value for a column sort last. Returns over 1 year are annualised (CAGR). Past performance does not indicate future returns. Eligibility: Direct plan, Growth option. Wound-up, suspended and distributing (IDCW/payout) variants are excluded. Distributing funds are matched by NAME as well as by option, because the option field is wrong on around 100 schemes.