Best Conservative Hybrid Funds in India

20 conservative hybrid funds in India, of which 14 meet the eligibility criteria, ranked on Sharpe ratio. Income with less volatility than equity?

Ranked on risk-adjusted return, not raw return — the point of this group is smoother outcomes.

Conservative Hybrid Funds ranked by Sharpe ratio

#
1	Nippon India Conservative Hybrid Fund (Existing number of Segregated Portfolios - 1) - Growth Option - Direct PlanGold	1.10	-18.9%	+8.56%	35%	+4.58%	₹977 Cr	1.01%
2	Parag Parikh Conservative Hybrid Fund - Direct Plan - GrowthPlatinum	0.92	-2.7%	+11.45%	96%	+1.60%	₹3,454 Cr	0.32%
3	Aditya Birla Sun Life Conservative Hybrid Fund - GROWTH - Direct PlanPlatinum	0.85	-14.2%	+10.16%	72%	+1.25%	₹1,501 Cr	0.95%
4	ICICI Prudential Conservative Hybrid Fund - Growth - Direct PlanGold	0.74	-8.8%	+10.35%	87%	+0.66%	₹3,270 Cr	1.04%
5	DSP Conservative Hybrid Fund - Growth - Direct PlanGold	0.64	-12.0%	+8.95%	43%	+1.32%	₹175 Cr	0.64%
6	BARODA BNP PARIBAS Conservative Hybrid Fund - Direct Plan - Growth OptionBronze	0.59	-4.5%	+9.84%	69%	+2.01%	₹949 Cr	0.56%
7	SBI Conservative Hybrid Fund - Direct Plan - GrowthPlatinum	0.55	-11.9%	+10.53%	70%	+2.20%	₹10,107 Cr	0.98%
8	HSBC Conservative Hybrid Fund - Direct GrowthGold	0.50	-10.4%	+9.13%	49%	-0.02%	₹152 Cr	1.19%
9	Kotak Conservative Hybrid Fund - Growth - Direct PlanSilver	0.45	-11.8%	+11.38%	79%	-0.84%	₹2,733 Cr	0.60%
10	Franklin India Conservative Hybrid Fund - Direct - GROWTH	0.40	-11.9%	+8.64%	38%	-0.54%	₹208 Cr	0.81%
11	CANARA ROBECO CONSERVATIVE HYBRID FUND - DIRECT PLAN - GROWTH OPTIONGold	0.37	-10.2%	+9.19%	50%	0.00%	₹811 Cr	0.77%
12	UTI Conservative Hybrid Fund - Direct Plan - Growth OptionBronze	0.34	-14.4%	+9.63%	62%	-1.41%	₹1,602 Cr	1.25%
13	HDFC Conservative Hybrid Fund - Growth Option - Direct PlanBronze	0.26	-12.1%	+10.26%	65%	-0.79%	₹3,108 Cr	1.18%
14	Axis Conservative Hybrid Fund - Direct Plan - Growth Option	0.14	-9.4%	+8.41%	33%	-0.85%	₹217 Cr	1.16%

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, Growth only, minimum AUM ₹100 Cr, at least 1 year(s) old. Past performance. Returns for 3y/5y are annualised (CAGR) and are withheld where the NAV series does not support the period.

Conservative Hybrid Funds — FAQs

Why rank these on risk-adjusted return?

The purpose of this group is a smoother path, not the highest possible number. A fund that earned slightly less with much less volatility is doing the job better, which is what a risk-adjusted measure captures and a raw return does not.

What risks do debt funds carry?

Two main ones. Interest-rate risk: when yields rise, existing bonds fall in value, and longer-duration funds move more. Credit risk: a borrower may be downgraded or default, which affects the NAV directly. Categories differ substantially in how much of each they take.