Best risk-adjusted equity funds
47 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 | — | +37.35% | 72% | -44.8% | +63.44% | ₹1,128 Cr | 1.07% |
| 2 | SBI HEALTHCARE OPPORTUNITIES FUND - DIRECT PLAN -GROWTHPlatinum | Sectoral/Thematic | 1.24 | +20.95% | 61% | -30.5% | +25.00% | ₹5,796 Cr | 1.03% |
| 3 | UTI Healthcare Fund - Direct Plan - Growth OptionPlatinum | Sectoral/Thematic | 1.15 | +17.80% | 50% | -27.1% | +25.02% | ₹1,444 Cr | 1.33% |
| 4 | DSP Healthcare Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 1.08 | +22.88% | 90% | -21.7% | +23.06% | ₹3,835 Cr | 0.75% |
| 5 | HDFC Defence Fund - Growth Option - Direct PlanGold | Sectoral/Thematic | 1.02 | — | — | -34.5% | +37.73% | ₹11,478 Cr | 0.91% |
| 6 | Mirae Asset Healthcare Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 1.07 | +23.24% | 85% | -20.0% | +24.03% | ₹3,555 Cr | 0.61% |
| 7 | Aditya Birla Sun Life Pharma and Healthcare Fund-Direct-GrowthPlatinum | Sectoral/Thematic | 1.07 | +19.88% | 69% | -20.5% | +22.45% | ₹1,103 Cr | 1.07% |
| 8 | ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund - Direct Plan - Cumulative OptionPlatinum | Sectoral/Thematic | 1.07 | +25.26% | 89% | -20.6% | +23.26% | ₹6,803 Cr | 1.32% |
| 9 | LIC MF Healthcare Fund-Direct Plan-GrowthPlatinum | Sectoral/Thematic | 1.09 | — | — | -15.1% | +23.76% | ₹103 Cr | 1.37% |
| 10 | HDFC Transportation and Logistics Fund - Growth Option - Direct PlanSilver | Sectoral/Thematic | — | — | — | -23.5% | +25.28% | ₹2,116 Cr | 1.10% |
| 11 | BANDHAN SMALL CAP FUND - DIRECT PLAN GROWTHPlatinum | Small Cap Fund | 0.96 | +31.29% | 100% | -24.3% | +25.09% | ₹34,176 Cr | 0.61% |
| 12 | Franklin Asian Equity Fund - Direct - GrowthSilver | Sectoral/Thematic | 0.99 | +8.82% | 4% | -40.2% | +24.98% | ₹996 Cr | 1.57% |
| 13 | Tata India Pharma & Healthcare Fund-Direct Plan-GrowthPlatinum | Sectoral/Thematic | 0.92 | +21.21% | 69% | -19.8% | +20.69% | ₹1,565 Cr | 1.06% |
| 14 | Franklin India Opportunities Fund - Direct - GrowthGold | Sectoral/Thematic | 0.92 | +19.19% | 54% | -39.3% | +21.27% | ₹9,717 Cr | 0.89% |
| 15 | Invesco India Midcap Fund - Direct Plan - Growth OptionPlatinum | Mid Cap Fund | 0.97 | +23.42% | 57% | -34.1% | +23.46% | ₹15,905 Cr | 0.78% |
| 16 | Kotak Pioneer Fund- Direct Plan- Growth OptionGold | Sectoral/Thematic | 0.95 | +22.05% | 95% | -35.7% | +21.12% | ₹4,281 Cr | 0.63% |
| 17 | ICICI Prudential Innovation Fund - Direct Plan - GrowthGold | Sectoral/Thematic | — | +21.40% | 99% | -16.5% | +19.06% | ₹8,012 Cr | 1.24% |
| 18 | ITI Small Cap Fund - Direct Plan - Growth OptionPlatinum | Small Cap Fund | 0.99 | +26.66% | 96% | -39.9% | +25.07% | ₹3,603 Cr | 0.86% |
| 19 | ITI Pharma and Healthcare Fund - Direct Plan - Growth OptionPlatinum | Sectoral/Thematic | 0.91 | +21.46% | 100% | -17.7% | +21.36% | ₹276 Cr | 0.92% |
| 20 | WhiteOak Capital Mid Cap Fund Direct Plan GrowthPlatinum | Mid Cap Fund | 1.01 | +26.56% | 99% | -19.3% | +21.55% | ₹7,485 Cr | 0.94% |
| 21 | Invesco India Large & Mid Cap Fund - Direct Plan - GrowthPlatinum | Large & Mid Cap Fund | 0.98 | +18.14% | 51% | -35.3% | +22.66% | ₹12,387 Cr | 0.79% |
| 22 | HSBC Midcap Fund - Direct GrowthPlatinum | Mid Cap Fund | 1.00 | +26.12% | 100% | -26.0% | +23.43% | ₹17,188 Cr | 1.15% |
| 23 | Nippon India Pharma Fund - Direct Plan Growth Plan - Growth OptionPlatinum | Sectoral/Thematic | 0.92 | +19.88% | 59% | -24.0% | +19.79% | ₹9,479 Cr | 0.99% |
| 24 | Aditya Birla Sun Life Manufacturing Equity Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.95 | +15.46% | 36% | -39.2% | +21.77% | ₹1,402 Cr | 1.40% |
| 25 | Invesco India Smallcap Fund - Direct Plan - GrowthGold | Small Cap Fund | 0.91 | +28.45% | 98% | -37.7% | +23.28% | ₹15,744 Cr | 0.63% |
| 26 | Invesco India Focused Fund - Direct Plan - GrowthPlatinum | Focused Fund | 0.97 | +23.25% | 100% | -22.0% | +21.03% | ₹6,454 Cr | 0.70% |
| 27 | Axis Innovation Fund - Direct Plan - Growth OptionPlatinum | Sectoral/Thematic | 0.87 | +16.25% | 28% | -23.6% | +19.04% | ₹1,363 Cr | 1.34% |
| 28 | BANK OF INDIA Manufacturing & Infrastructure Fund-Direct Plan-GrowthPlatinum | Sectoral/Thematic | 0.94 | +20.75% | 57% | -43.5% | +22.65% | ₹949 Cr | 0.98% |
| 29 | ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND - Direct Plan - GrowthGold | Sectoral/Thematic | 1.36 | +26.55% | 100% | -23.6% | +22.11% | ₹4,119 Cr | 1.27% |
| 30 | LIC MF Infrastructure Fund-Direct Plan-GrowthGold | Sectoral/Thematic | 0.84 | +15.63% | 45% | -39.6% | +24.08% | ₹1,174 Cr | 1.33% |
| 31 | Edelweiss Mid Cap Fund - Direct Plan - Growth OptionSilver | Mid Cap Fund | 0.94 | +26.05% | 72% | -39.2% | +20.52% | ₹19,891 Cr | 0.68% |
| 32 | Axis Multicap Fund - Direct GrowthPlatinum | Multi Cap Fund | 1.19 | +22.72% | 98% | -18.1% | +19.49% | ₹11,985 Cr | 1.01% |
| 33 | Kotak Manufacture in India Fund - Direct Plan GrowthPlatinum | Sectoral/Thematic | 0.99 | +22.00% | 98% | -22.3% | +21.17% | ₹3,127 Cr | 0.77% |
| 34 | ICICI Prudential MidCap Fund - Direct Plan - GrowthGold | Mid Cap Fund | 0.94 | +21.32% | 49% | -44.0% | +21.27% | ₹8,403 Cr | 1.10% |
| 35 | DSP Value Fund - Direct Plan - GrowthGold | Value Fund | 1.01 | +18.67% | 49% | -16.4% | +16.18% | ₹2,220 Cr | 1.55% |
| 36 | quant Healthcare Fund - Growth Option - Direct PlanGold | Sectoral/Thematic | — | — | — | -25.2% | +22.26% | ₹428 Cr | 1.51% |
| 37 | WhiteOak Capital Multi Cap Fund Direct Plan GrowthSilver | Multi Cap Fund | — | — | — | -16.9% | +18.36% | ₹4,385 Cr | 0.89% |
| 38 | quant BFSI Fund - Growth Option - Direct PlanPlatinum | Sectoral/Thematic | — | — | — | -22.3% | +22.30% | ₹922 Cr | 1.92% |
| 39 | BANK OF INDIA Small Cap Fund Direct Plan GrowthPlatinum | Small Cap Fund | 0.80 | +29.62% | 79% | -32.4% | +22.47% | ₹3,307 Cr | 0.74% |
| 40 | Aditya Birla Sun Life Special Opportunities Fund-Direct-GrowthPlatinum | Sectoral/Thematic | 0.93 | +19.96% | 80% | -20.3% | +19.02% | ₹1,279 Cr | 1.22% |
| 41 | ICICI Prudential Manufacturing Fund - Direct Plan - Cumulative OptionGold | Sectoral/Thematic | 0.88 | +25.94% | 98% | -37.6% | +19.95% | ₹7,175 Cr | 1.20% |
| 42 | Motilal Oswal Large and Midcap Fund - Direct Plan GrowthPlatinum | Large & Mid Cap Fund | 0.85 | +27.17% | 97% | -37.4% | +22.03% | ₹20,159 Cr | 0.91% |
| 43 | DSP India T.I.G.E.R. Fund - Direct Plan - GrowthPlatinum | Sectoral/Thematic | 0.79 | +19.62% | 53% | -46.9% | +20.40% | ₹6,467 Cr | 1.06% |
| 44 | Axis Value Fund - Direct Plan - GrowthPlatinum | Value Fund | 1.24 | +23.16% | 97% | -20.2% | +18.07% | ₹1,880 Cr | 0.93% |
| 45 | Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth OptionPlatinum | ELSS | 0.83 | +19.38% | 57% | -37.7% | +21.46% | ₹5,134 Cr | 0.98% |
| 46 | Bandhan Large & Mid Cap Fund - Direct Plan - GrowthGold | Large & Mid Cap Fund | 0.87 | +17.60% | 48% | -38.5% | +17.75% | ₹21,021 Cr | 1.17% |
| 47 | Mahindra Manulife Small Cap Fund - Direct Plan - GrowthGold | Small Cap Fund | — | +24.15% | 86% | -26.0% | +21.01% | ₹5,468 Cr | 0.92% |
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.