Best Dynamic Asset Allocation or Balanced Advantage funds in India

38 dynamic asset allocation or balanced advantage funds in India, of which 35 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.

Dynamic Asset Allocation or Balanced Advantage funds ranked by Sharpe ratio

#
1	ICICI Prudential Balanced Advantage Fund - Direct Plan - GrowthSilver	0.86	-27.0%	+12.85%	54%	+3.38%	₹75,399 Cr	1.04%
2	DSP Dynamic Asset Allocation Fund - Direct Plan - GrowthSilver	0.83	-19.3%	+10.31%	13%	+3.57%	₹3,821 Cr	1.04%
3	Axis Balanced Advantage Fund - Direct Plan - GrowthSilver	0.79	-17.2%	+12.73%	52%	+1.40%	₹3,836 Cr	1.07%
4	NJ Balanced Advantage Fund - Direct Plan - Growth Option	0.79	-14.8%	+12.12%	36%	-1.91%	₹3,385 Cr	1.13%
5	Aditya Birla Sun Life Balanced Advantage Fund - Direct Plan - Growth OptionPlatinum	0.78	-26.4%	+12.53%	48%	+5.65%	₹10,125 Cr	0.89%
6	WhiteOak Capital Balanced Advantage Fund Direct Plan GrowthGold	0.73	-9.6%	+12.98%	67%	+2.71%	₹2,302 Cr	0.83%
7	Nippon India Balanced Advantage Fund - Direct Plan Growth Plan - Growth OptionGold	0.71	-22.8%	+12.81%	53%	+2.20%	₹9,918 Cr	0.88%
8	Baroda BNP Paribas Balanced Advantage Fund-Direct Plan-Growth OptionPlatinum	0.68	-20.7%	+15.57%	97%	+4.90%	₹5,343 Cr	0.92%
9	HDFC Balanced Advantage Fund - Growth Plan - Direct Plan	0.68	-34.2%	+15.57%	72%	-1.03%	₹1.07 Lakh Cr	0.78%
10	Edelweiss Balanced Advantage Fund -Direct Plan-Growth OptionPlatinum	0.66	-16.2%	+12.98%	54%	+3.93%	₹13,445 Cr	0.80%
11	Mirae Asset Balanced Advantage Fund - Direct Plan - GrowthGold	0.65	-7.5%	+13.44%	65%	+3.89%	₹2,169 Cr	0.95%
12	Mahindra Manulife Balanced Advantage Fund - Direct Plan - GrowthSilver	0.63	-9.8%	+14.05%	83%	+3.28%	₹923 Cr	0.85%
13	SBI Balanced Advantage Fund - Direct Plan - GrowthGold	0.63	-7.4%	+14.32%	81%	+1.69%	₹41,803 Cr	0.90%
14	ITI Balanced Advantage Fund - Direct Plan - Growth Option	0.59	-33.6%	+12.46%	47%	-0.40%	₹348 Cr	1.60%
15	HSBC Balanced Advantage Fund - Direct GrowthSilver	0.59	-8.7%	+11.43%	31%	+1.61%	₹1,522 Cr	1.16%
16	BANDHAN Balanced Advantage Fund Direct Plan GrowthBronze	0.59	-25.9%	+10.49%	15%	+4.08%	₹2,286 Cr	1.06%
17	Kotak Balanced Advantage Fund - Direct Plan -Growth OptionBronze	0.54	-26.3%	+12.72%	53%	+1.64%	₹17,373 Cr	0.83%
18	BANK OF INDIA BALANCED ADVANTAGE FUND DIRECT PLAN GROWTH	0.50	-17.8%	+8.88%	21%	+3.50%	₹176 Cr	1.36%
19	Invesco India Balanced Advantage Fund - Direct Plan - Growth	0.48	-26.5%	+12.68%	51%	-3.58%	₹937 Cr	1.16%
20	Tata Balanced Advantage Fund-Direct Plan-GrowthSilver	0.46	-20.0%	+13.98%	69%	+1.57%	₹8,539 Cr	0.70%
21	Sundaram Balanced Advantage Fund ( Formerly Known as Principal Balanced Advantage Fund) - Direct Plan - Growth OptionBronze	0.45	-9.7%	+11.78%	24%	+0.10%	₹1,686 Cr	1.12%
22	Union Balanced Advantage Fund - Direct Plan - Growth Option	0.43	-23.8%	+11.94%	34%	+0.45%	₹1,240 Cr	1.47%
23	UTI - Unit Linked Insurance Plan- Direct	0.42	-17.9%	+8.78%	3%	+0.97%	₹5,108 Cr	1.00%
24	LIC MF Balanced Advantage Fund-Direct Plan-GrowthSilver	0.29	-9.4%	+11.08%	15%	+0.80%	₹696 Cr	1.52%
25	PGIM India Balanced Advantage Fund - Direct Plan - Growth Option	0.28	-11.6%	+11.53%	15%	-3.32%	₹739 Cr	0.92%
26	Motilal Oswal Balanced Advantage Fund (MOFDYNAMIC) - Direct Plan - Growth Option	-0.06	-26.5%	+9.27%	10%	-5.76%	₹744 Cr	1.63%
27	Unifi Dynamic Asset Allocation Fund - Direct GrowthSilver	—	-0.2%	—	—	+8.68%	₹1,427 Cr	1.40%
28	Parag Parikh Dynamic Asset Allocation Fund - Direct Plan GrowthGold	—	-2.4%	—	—	+3.64%	₹2,575 Cr	0.41%
29	Bajaj Finserv Balanced Advantage Fund-Direct Plan-GrowthSilver	—	-12.5%	—	—	+2.91%	₹1,276 Cr	1.01%
30	Helios Balanced Advantage Fund- Direct Plan- Growth OptionBronze	—	-11.1%	—	—	+2.66%	₹288 Cr	1.30%
31	Franklin India Balanced Advantage Fund- Growth- DirectGold	—	-8.1%	+13.79%	63%	+0.78%	₹2,823 Cr	0.81%
32	quant Dynamic Asset Allocation Fund - Growth Option - Direct PlanSilver	—	-18.4%	+17.65%	98%	-0.75%	₹852 Cr	1.56%
33	Canara Robeco Balanced Advantage Fund - Direct Plan - Growth Option	—	-11.0%	—	—	-1.14%	₹1,079 Cr	1.04%
34	Samco Dynamic Asset Allocation Fund - Direct Plan - Growth Option	—	-15.3%	—	—	-1.84%	₹168 Cr	1.92%
35	UTI Balanced Advantage Fund - Direct Plan - Growth Option	—	-10.5%	—	—	-2.35%	₹3,023 Cr	0.91%

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.

Dynamic Asset Allocation or Balanced Advantage 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.