Best Dynamic Asset Allocation or Balanced Advantage funds in India

37 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

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1	Aditya Birla Sun Life Balanced Advantage Fund - Direct Plan - Growth OptionPlatinum	0.60	-26.4%	+12.50%	46%	+0.29%	₹9,836 Cr	0.89%
2	WhiteOak Capital Balanced Advantage Fund Direct Plan GrowthGold	0.59	-9.6%	+12.73%	55%	-2.09%	₹2,221 Cr	0.83%
3	DSP Dynamic Asset Allocation Fund - Direct Plan - GrowthGold	0.58	-19.3%	+10.30%	13%	-0.57%	₹3,704 Cr	1.04%
4	Axis Balanced Advantage Fund - Direct Plan - GrowthSilver	0.58	-17.2%	+12.68%	51%	-2.79%	₹3,651 Cr	1.00%
5	ICICI Prudential Balanced Advantage Fund - Direct Plan - GrowthGold	0.56	-27.0%	+12.81%	53%	-1.63%	₹71,913 Cr	1.03%
6	Mirae Asset Balanced Advantage Fund - Direct Plan - GrowthPlatinum	0.50	-7.5%	+13.37%	58%	-0.70%	₹2,109 Cr	0.98%
7	Nippon India Balanced Advantage Fund - Direct Plan Growth Plan - Growth OptionGold	0.48	-22.8%	+12.76%	52%	-2.30%	₹9,532 Cr	0.89%
8	Baroda BNP Paribas Balanced Advantage Fund-Direct Plan-Growth OptionGold	0.47	-20.7%	+15.54%	95%	-2.18%	₹5,162 Cr	0.92%
9	Edelweiss Balanced Advantage Fund -Direct Plan-Growth OptionPlatinum	0.46	-16.2%	+12.93%	53%	-1.26%	₹12,880 Cr	0.82%
10	Mahindra Manulife Balanced Advantage Fund - Direct Plan - GrowthSilver	0.45	-9.8%	+13.91%	77%	-2.26%	₹879 Cr	0.83%
11	quant Dynamic Asset Allocation Fund - Growth Option - Direct Plan	0.45	-18.4%	+16.04%	87%	-7.17%	₹810 Cr	1.54%
12	BANDHAN Balanced Advantage Fund Direct Plan Growth	0.44	-25.9%	+10.46%	14%	-0.21%	₹2,235 Cr	1.07%
13	HDFC Balanced Advantage Fund - Growth Plan - Direct Plan	0.44	-34.2%	+15.48%	70%	-6.03%	₹1.03 Lakh Cr	0.77%
14	SBI Balanced Advantage Fund - Direct Plan - GrowthGold	0.43	-7.4%	+14.17%	77%	-3.39%	₹40,545 Cr	0.86%
15	HSBC Balanced Advantage Fund - Direct GrowthSilver	0.42	-8.7%	+11.09%	27%	-2.55%	₹1,474 Cr	1.15%
16	Franklin India Balanced Advantage Fund- Growth- DirectGold	0.41	-8.1%	+13.46%	57%	-5.54%	₹2,687 Cr	0.80%
17	Kotak Balanced Advantage Fund - Direct Plan -Growth OptionSilver	0.37	-26.3%	+12.68%	50%	-2.89%	₹16,618 Cr	0.82%
18	ITI Balanced Advantage Fund - Direct Plan - Growth Option	0.37	-33.6%	+12.33%	45%	-8.37%	₹320 Cr	1.59%
19	BANK OF INDIA BALANCED ADVANTAGE FUND DIRECT PLAN GROWTHSilver	0.31	-17.8%	+8.85%	20%	-1.60%	₹174 Cr	1.39%
20	Invesco India Balanced Advantage Fund - Direct Plan - Growth	0.30	-26.5%	+12.65%	50%	-4.95%	₹903 Cr	1.19%
21	Union Balanced Advantage Fund - Direct Plan - Growth Option	0.25	-23.8%	+11.91%	32%	-5.18%	₹1,158 Cr	1.47%
22	UTI - Unit Linked Insurance Plan- Direct	0.24	-17.9%	+8.76%	3%	-1.84%	₹4,930 Cr	1.00%
23	LIC MF Balanced Advantage Fund-Direct Plan-GrowthBronze	0.24	-9.4%	+11.00%	14%	-5.39%	₹653 Cr	1.43%
24	UTI Balanced Advantage Fund - Direct Plan - Growth Option	0.24	-10.5%	—	—	-5.53%	₹2,856 Cr	0.91%
25	Sundaram Dynamic Asset Allocation Fund (Formerly Known as Sundaram Balanced Advantage Fund) - GROWTH - Direct PlanBronze	0.24	-9.7%	+11.66%	22%	-6.93%	₹1,596 Cr	1.11%
26	NJ Balanced Advantage Fund - Direct Plan - Growth Option	0.23	-14.8%	+11.98%	33%	-3.59%	₹3,242 Cr	1.10%
27	Tata Balanced Advantage Fund-Direct Plan-Growth	0.23	-20.0%	+13.92%	67%	-4.95%	₹8,005 Cr	0.68%
28	PGIM India Balanced Advantage Fund - Direct Plan - Growth Option	0.12	-11.6%	+11.48%	13%	-7.71%	₹681 Cr	0.91%
29	Motilal Oswal Balanced Advantage Fund (MOFDYNAMIC) - Direct Plan - Growth Option	-0.15	-26.5%	+9.17%	9%	-7.65%	₹712 Cr	1.55%
30	Unifi Dynamic Asset Allocation Fund - Direct GrowthSilver	—	-0.2%	—	—	+8.41%	₹1,478 Cr	1.40%
31	Parag Parikh Dynamic Asset Allocation Fund - Direct Plan GrowthSilver	—	-2.7%	—	—	+0.84%	₹2,533 Cr	0.41%
32	Bajaj Finserv Balanced Advantage Fund-Direct Plan-GrowthBronze	—	-12.5%	—	—	-2.86%	₹1,207 Cr	1.00%
33	Helios Balanced Advantage Fund- Direct Plan- Growth Option	—	-11.1%	—	—	-4.04%	₹265 Cr	1.32%
34	Samco Dynamic Asset Allocation Fund - Direct Plan - Growth Option	—	-15.3%	—	—	-5.54%	₹157 Cr	1.95%
35	Canara Robeco Balanced Advantage Fund - Direct Plan - Growth Option	—	-11.0%	—	—	-5.71%	₹1,007 Cr	1.03%

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.