Steady, lower risk

Income with less volatility than equity?

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

341 funds in this group. Showing the top 100 by Sharpe ratio — pick a sub-category below for the complete list.

Top 100 funds, ranked by Sharpe ratio

#FundCategory
1Nippon India Credit Risk Fund - Direct Plan - Growth PlanBronzeCredit Risk Fund2.87-13.8%+8.74%56%+8.08%₹1,556 Cr0.61%
2Baroda BNP Paribas Credit Risk Fund -Direct-Growth OptionSilverCredit Risk Fund2.61-8.1%+8.67%66%+7.04%₹178 Cr0.82%
3ICICI Prudential Credit Risk Fund - Direct Plan - GrowthBronzeCredit Risk Fund2.55-2.9%+8.81%76%+8.97%₹6,320 Cr0.77%
4Axis Credit Risk Fund - Direct Plan - GrowthSilverCredit Risk Fund2.49-3.5%+7.38%35%+8.98%₹375 Cr0.82%
5SBI CREDIT RISK FUND - DIRECT PLAN -GROWTHCredit Risk Fund2.26-1.4%+7.59%35%+8.28%₹2,175 Cr0.91%
6Aditya Birla Sun Life Credit Risk Fund - Direct Plan - GrowthGoldCredit Risk Fund2.25-3.9%+8.22%51%+13.19%₹1,532 Cr0.80%
7ICICI Prudential Floating Interest Fund - Direct Plan - GrowthGoldFloater Fund2.23-1.8%+8.30%71%+7.03%₹8,464 Cr0.30%
8Aditya Birla Sun Life Medium Term Plan - Growth - Direct PlanSilverMedium Duration Fund2.19-12.7%+10.36%68%+9.57%₹3,280 Cr0.83%
9SBI Floating Rate Debt Fund - Direct Plan - GrowthFloater Fund2.14-0.6%+7.20%39%+6.63%₹675 Cr0.28%
10DSP Floater Fund - Direct Plan - GrowthFloater Fund2.12-0.5%+7.91%54%+6.08%₹329 Cr0.28%
11Aditya Birla Sun Life Floating Rate Fund-Direct Plan-GrowthSilverFloater Fund2.09-1.8%+7.92%61%+6.26%₹13,215 Cr0.25%
12Franklin India Floating Rate Fund - Direct - GrowthFloater Fund1.99-1.3%+7.03%12%+6.39%₹290 Cr0.38%
13WhiteOak Capital Multi Asset Allocation Fund Direct Plan GrowthGoldMulti Asset Allocation1.95-6.1%+14.69%₹7,107 Cr0.64%
14HDFC Floating Rate Debt Fund - Direct Plan - Growth OptionPlatinumFloater Fund1.83-1.3%+7.85%62%+6.37%₹16,409 Cr0.27%
15UTI Credit Risk Fund - Direct Plan - Growth OptionCredit Risk Fund1.83-34.4%+8.08%47%+7.01%₹253 Cr1.04%
16Invesco India Credit Risk Fund - Direct Plan - GrowthBronzeCredit Risk Fund1.83-8.0%+6.18%30%+8.36%₹166 Cr0.28%
17KOTAK FLOATING RATE FUND-DIRECT PLAN-GROWTH OPTIONSilverFloater Fund1.78-2.0%+6.62%29%+6.34%₹3,438 Cr0.25%
18HDFC Credit Risk Debt Fund - Growth Option - Direct PlanCredit Risk Fund1.78-2.6%+8.18%50%+7.75%₹7,666 Cr1.01%
19BANDHAN FLOATER FUND - DIRECT PLAN GROWTHFloater Fund1.76-0.7%+7.57%47%+6.96%₹221 Cr0.10%
20ICICI Prudential Medium Term Bond Fund - Direct Plan - GrowthGoldMedium Duration Fund1.73-5.1%+8.33%62%+8.03%₹5,481 Cr0.73%
21Parag Parikh Conservative Hybrid Fund - Direct Plan - GrowthSilverConservative Hybrid Fund1.72-2.3%+11.51%100%+5.83%₹3,419 Cr0.31%
22ICICI Prudential Short Term Fund - Direct Plan - Growth OptionPlatinumShort Duration Fund1.67-3.4%+8.46%73%+6.62%₹19,260 Cr0.45%
23Kotak Medium Term Fund - Direct GrowthSilverMedium Duration Fund1.67-5.2%+7.65%41%+8.00%₹1,915 Cr0.67%
24Axis Strategic Bond Fund - Direct Plan - Growth OptionGoldMedium Duration Fund1.64-7.3%+8.48%64%+7.26%₹2,098 Cr0.72%
25Kotak Credit Risk Fund - Growth - DirectCredit Risk Fund1.62-3.9%+8.22%52%+8.21%₹770 Cr0.81%

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 numeric column to re-sort; funds with no value for that 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, short-duration categories included. Past performance. Returns for 3y/5y are annualised (CAGR) and are withheld where the NAV series does not support the period.

Steady, lower risk — 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.