Mutual Fund Categories
Returns as on the latest NAV, Direct plans · AUM as on 30-09-2026
SEBI sorts every open-ended fund into a category with a fixed rule for what it holds, so funds of one category can be compared. Index, sector and theme funds are split here by the index or theme they follow. Here are 60 categories with 1373 funds. Each figure is the average of the category's funds. Open a category to see its funds ranked by return.
Equity 10Hybrid 6Debt 15Index 11Sector and theme 12Other 6
Show returns:
Equity Fund Categories
All equity fundsInvest mainly in shares of listed companies. They can rise and fall the most, and suit money you will not need for 5 years or more.
| Large CapAt least 80% of the fund in large cap stocks: the 100 largest listed companies by market value. | 35 | 3,90,992 | −6.33% | +10.38% | +8.23% | +11.81% |
|---|---|---|---|---|---|---|
| Large & Mid CapAt least 35% in large cap stocks and at least 35% in mid cap stocks (companies ranked 101 to 250 by market value). | 36 | 3,54,568 | −3.99% | +13.28% | +11.36% | +13.62% |
| Mid CapAt least 65% of the fund in mid cap stocks: companies ranked 101 to 250 by market value. | 33 | 5,12,233 | −2.33% | +14.67% | +12.95% | +14.07% |
| Small CapAt least 65% of the fund in small cap stocks: companies ranked 251 and below by market value. | 36 | 4,59,906 | +3.00% | +14.03% | +14.51% | +16.19% |
| Multi CapAt least 75% in stocks, with at least 25% each in large cap, mid cap and small cap stocks. | 33 | 2,48,323 | −1.14% | +13.54% | +12.56% | +14.55% |
| Flexi CapAt least 65% in stocks, in any mix of large, mid and small cap companies the fund manager chooses. | 46 | 5,86,801 | −3.58% | +12.37% | +10.04% | +13.13% |
| FocusedAt most 30 stocks, with at least 65% of the fund in stocks. | 28 | 1,79,873 | −3.09% | +12.30% | +10.21% | +13.15% |
| Value and ContraAt least 65% in stocks, picked by a value strategy (shares priced below their worth) or a contrarian one (against the market's mood). | 28 | 2,07,724 | −5.72% | +11.83% | +11.08% | +12.63% |
| Dividend YieldAt least 65% in stocks, mostly of companies that pay high dividends. | 12 | 30,634 | −5.57% | +12.14% | +12.06% | +13.31% |
| ELSSAt least 80% in stocks. Each investment is locked in for 3 years, and it qualifies for the Section 80C deduction in the old tax regime. | 50 | 2,34,370 | −5.83% | +10.87% | +10.14% | +12.92% |
| Large CapAt least 80% of the fund in large cap stocks: the 100 largest listed companies by market value. | −6.73% | +8.47% | +16.47% | +25.26% | +3.01% | +27.37% | +14.96% | +12.46% |
|---|---|---|---|---|---|---|---|---|
| Large & Mid CapAt least 35% in large cap stocks and at least 35% in mid cap stocks (companies ranked 101 to 250 by market value). | −3.52% | +5.38% | +25.18% | +31.43% | +2.92% | +39.39% | +17.22% | +9.83% |
| Mid CapAt least 65% of the fund in mid cap stocks: companies ranked 101 to 250 by market value. | −1.49% | +2.75% | +29.82% | +38.07% | +3.51% | +45.46% | +24.44% | +3.74% |
| Small CapAt least 65% of the fund in small cap stocks: companies ranked 251 and below by market value. | +7.09% | −3.32% | +28.44% | +43.19% | +2.70% | +64.10% | +33.57% | +0.94% |
| Multi CapAt least 75% in stocks, with at least 25% each in large cap, mid cap and small cap stocks. | −0.18% | +3.22% | +24.91% | +33.90% | +5.94% | +44.74% | +17.11% | +7.62% |
| Flexi CapAt least 65% in stocks, in any mix of large, mid and small cap companies the fund manager chooses. | −2.89% | +4.79% | +22.41% | +29.87% | +1.39% | +34.41% | +19.00% | +11.08% |
| FocusedAt most 30 stocks, with at least 65% of the fund in stocks. | −2.75% | +6.04% | +21.04% | +28.03% | +2.48% | +34.08% | +17.25% | +12.74% |
| Value and ContraAt least 65% in stocks, picked by a value strategy (shares priced below their worth) or a contrarian one (against the market's mood). | −6.34% | +5.66% | +21.63% | +35.28% | +7.16% | +36.95% | +17.36% | +3.46% |
| Dividend YieldAt least 65% in stocks, mostly of companies that pay high dividends. | −5.92% | +6.29% | +20.70% | +38.10% | +4.92% | +42.76% | +18.99% | +2.95% |
| ELSSAt least 80% in stocks. Each investment is locked in for 3 years, and it qualifies for the Section 80C deduction in the old tax regime. | −5.02% | +4.11% | +20.88% | +31.20% | +3.57% | +39.32% | +18.45% | +7.73% |
Hybrid Fund Categories
All hybrid fundsMix shares, bonds and sometimes gold in set proportions. They swing less than equity funds and more than debt funds.
| Aggressive Hybrid65% to 80% in stocks and 20% to 35% in debt. | 30 | 2,56,181 | −3.41% | +10.70% | +9.33% | +11.43% |
|---|---|---|---|---|---|---|
| Balanced AdvantageMoves money between stocks and debt as the fund manager sees the market; the share in each is not fixed. | 37 | 3,17,594 | −2.08% | +9.14% | +8.35% | +9.91% |
| Multi AssetAt least 10% each in three or more kinds of assets, such as stocks, debt and gold. | 37 | 2,23,804 | +2.00% | +14.20% | +12.56% | +12.92% |
| Equity SavingsAt least 65% in stocks (part of it hedged with derivatives) and at least 10% in debt. | 24 | 51,703 | +2.12% | +8.55% | +7.55% | +8.43% |
| ArbitrageAt least 65% in stocks, each bought and sold forward at the same time, so it earns the price gap rather than the market's move. | 40 | 3,56,016 | +6.62% | +7.18% | +6.68% | +6.31% |
| Conservative Hybrid10% to 25% in stocks and 75% to 90% in debt. | 18 | 29,448 | +1.02% | +7.61% | +7.13% | +7.52% |
| Aggressive Hybrid65% to 80% in stocks and 20% to 35% in debt. | −3.42% | +6.73% | +18.74% | +22.96% | +4.02% | +28.10% | +15.81% | +9.11% |
|---|---|---|---|---|---|---|---|---|
| Balanced AdvantageMoves money between stocks and debt as the fund manager sees the market; the share in each is not fixed. | −2.41% | +6.67% | +14.32% | +19.85% | +4.89% | +15.85% | +15.07% | +8.79% |
| Multi AssetAt least 10% each in three or more kinds of assets, such as stocks, debt and gold. | −1.14% | +17.84% | +17.07% | +23.24% | +7.52% | +26.18% | +18.08% | +10.30% |
| Equity SavingsAt least 65% in stocks (part of it hedged with derivatives) and at least 10% in debt. | +1.45% | +7.33% | +12.15% | +14.47% | +4.22% | +13.52% | +11.26% | +8.85% |
| ArbitrageAt least 65% in stocks, each bought and sold forward at the same time, so it earns the price gap rather than the market's move. | +5.40% | +6.90% | +8.07% | +7.65% | +4.69% | +4.11% | +4.62% | +6.63% |
| Conservative Hybrid10% to 25% in stocks and 75% to 90% in debt. | +0.47% | +6.89% | +11.10% | +11.88% | +5.44% | +11.52% | +10.49% | +6.76% |
Debt Fund Categories
All debt fundsLend to governments, banks and companies through bonds and money market papers. They swing the least, and suit money needed in days to a few years.
| OvernightOnly in debt and money market papers that mature the next business day. | 32 | 1,19,654 | +5.25% | +6.01% | +5.76% | +5.34% |
|---|---|---|---|---|---|---|
| LiquidOnly in debt and money market papers that mature within 91 days. | 42 | 6,45,910 | +6.23% | +6.66% | +6.18% | +5.85% |
| Ultra ShortDebt and money market papers, with a Macaulay duration of 3 to 6 months. | 27 | 1,20,957 | +6.00% | +6.82% | +6.27% | +6.43% |
| Low DurationDebt and money market papers, with a Macaulay duration of 6 to 12 months. SEBI now calls this category Ultra Short to Short Term, and most of its funds carry that name. | 25 | 1,07,375 | +5.79% | +7.22% | +6.58% | +6.73% |
| Money MarketMoney market papers that mature within 1 year. | 27 | 2,88,408 | +6.35% | +7.24% | +6.68% | +6.60% |
| Short DurationDebt and money market papers, with a Macaulay duration of 1 to 3 years. | 26 | 1,03,970 | +4.11% | +6.88% | +6.62% | +6.89% |
| Medium DurationDebt and money market papers, with a Macaulay duration of 3 to 4 years. | 13 | 25,023 | +4.72% | +7.66% | +6.88% | +6.78% |
| Medium to Long DurationDebt and money market papers, with a Macaulay duration of 4 to 7 years. | 13 | 9,807 | +2.86% | +6.52% | +5.71% | +6.19% |
| Long DurationDebt and money market papers, with a Macaulay duration of more than 7 years. | 11 | 10,944 | +0.63% | +5.83% | +5.21% | +6.46% |
| Dynamic BondDebt of any maturity: the fund manager changes the duration as interest rates move. | 22 | 29,367 | +3.05% | +6.70% | +5.98% | +6.68% |
| Corporate BondAt least 80% in corporate bonds rated AA+ or higher. | 21 | 1,69,291 | +4.00% | +7.02% | +6.20% | +6.98% |
| Credit RiskAt least 65% in corporate bonds rated below AA+, which pay more for the higher risk of default. | 13 | 22,116 | +7.84% | +9.41% | +9.83% | +6.82% |
| Banking & PSUAt least 80% in debt of banks, public sector undertakings and public financial institutions. | 20 | 72,672 | +4.04% | +6.88% | +6.22% | +6.95% |
| GiltAt least 80% in government securities. | 28 | 33,431 | +2.12% | +6.19% | +5.46% | +6.64% |
| FloaterAt least 65% in floating rate debt, whose interest moves with market rates. | 12 | 51,232 | +5.43% | +7.47% | +6.73% | +7.16% |
| OvernightOnly in debt and money market papers that mature the next business day. | +4.31% | +5.81% | +6.72% | +6.70% | +4.70% | +3.19% | +3.42% | +5.70% |
|---|---|---|---|---|---|---|---|---|
| LiquidOnly in debt and money market papers that mature within 91 days. | +5.20% | +6.38% | +7.19% | +6.85% | +4.72% | +3.24% | +4.03% | +6.37% |
| Ultra ShortDebt and money market papers, with a Macaulay duration of 3 to 6 months. | +5.01% | +6.93% | +7.33% | +6.87% | +4.60% | +3.88% | +5.75% | +8.12% |
| Low DurationDebt and money market papers, with a Macaulay duration of 6 to 12 months. SEBI now calls this category Ultra Short to Short Term, and most of its funds carry that name. | +4.77% | +7.75% | +7.91% | +7.36% | +4.59% | +4.26% | +8.84% | +5.98% |
| Money MarketMoney market papers that mature within 1 year. | +5.25% | +7.49% | +7.71% | +7.33% | +4.75% | +3.78% | +6.11% | +8.45% |
| Short DurationDebt and money market papers, with a Macaulay duration of 1 to 3 years. | +3.30% | +7.74% | +8.02% | +7.00% | +5.08% | +4.23% | +9.67% | +7.64% |
| Medium DurationDebt and money market papers, with a Macaulay duration of 3 to 4 years. | +3.79% | +8.62% | +8.86% | +7.42% | +5.17% | +6.42% | +6.49% | +6.35% |
| Medium to Long DurationDebt and money market papers, with a Macaulay duration of 4 to 7 years. | +2.27% | +6.30% | +9.04% | +7.34% | +3.36% | +3.53% | +10.82% | +8.29% |
| Long DurationDebt and money market papers, with a Macaulay duration of more than 7 years. | +0.15% | +4.00% | +11.41% | +7.78% | +2.31% | +1.06% | +12.69% | +12.91% |
| Dynamic BondDebt of any maturity: the fund manager changes the duration as interest rates move. | +2.43% | +6.35% | +9.41% | +7.29% | +3.81% | +4.31% | +10.45% | +8.91% |
| Corporate BondAt least 80% in corporate bonds rated AA+ or higher. | +3.25% | +8.00% | +8.42% | +7.15% | +3.65% | +4.03% | +10.90% | +9.68% |
| Credit RiskAt least 65% in corporate bonds rated below AA+, which pay more for the higher risk of default. | +6.72% | +11.34% | +8.80% | +8.70% | +16.71% | +8.31% | +0.53% | +0.87% |
| Banking & PSUAt least 80% in debt of banks, public sector undertakings and public financial institutions. | +3.30% | +7.74% | +8.23% | +7.04% | +4.05% | +3.89% | +10.63% | +10.07% |
| GiltAt least 80% in government securities. | +1.46% | +5.34% | +9.63% | +7.57% | +2.68% | +2.88% | +12.13% | +11.65% |
| FloaterAt least 65% in floating rate debt, whose interest moves with market rates. | +4.43% | +8.04% | +8.60% | +7.73% | +4.50% | +4.13% | +9.58% | +8.95% |
Index Fund Categories
Copy a stock market index instead of picking stocks, so they cost less. Funds that follow the same index hold nearly the same stocks, so each page ranks them by expense ratio.
| Nifty 50 IndexIndex funds that copy the Nifty 50: the 50 largest companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 24 | 95,523 | −10.22% | +7.32% | +6.39% | +11.18% |
|---|---|---|---|---|---|---|
| Nifty Next 50 IndexIndex funds that copy the Nifty Next 50: the 50 companies that come after the Nifty 50 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 20 | 28,243 | −2.83% | +16.06% | +10.57% | +11.65% |
| Nifty Midcap 150 IndexIndex funds that copy the Nifty Midcap 150: the 150 companies ranked 101 to 250 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 14 | 11,541 | −4.73% | +13.39% | +13.49% | -- |
| Nifty Smallcap 250 IndexIndex funds that copy the Nifty Smallcap 250: the 250 companies ranked 251 to 500 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 10 | 8,912 | −3.62% | +11.70% | +12.38% | -- |
| BSE Sensex IndexIndex funds that copy the BSE Sensex: the 30 largest companies on the BSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 10 | 10,676 | −11.12% | +6.01% | +5.60% | +11.21% |
| Nifty 500 IndexIndex funds that copy the Nifty 500: the 500 largest companies on the NSE, about 90% of its market value. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 7 | 4,618 | −8.15% | +9.95% | +8.49% | -- |
| Nifty Bank IndexIndex funds that copy the Nifty Bank: the largest and most traded banks on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 10 | 2,672 | −5.42% | +8.88% | +7.49% | -- |
| Nifty IT IndexIndex funds that copy the Nifty IT: the largest information technology companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 7 | 1,073 | −7.92% | +3.88% | -- | -- |
| Nifty 50 Equal Weight IndexIndex funds that copy the Nifty 50 Equal Weight: the Nifty 50 companies, each held at an equal share. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 8 | 6,336 | −5.11% | +11.25% | +10.38% | -- |
| Nifty200 Momentum 30 IndexIndex funds that copy the Nifty200 Momentum 30: the 30 Nifty 200 stocks with the strongest recent price rise. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 8 | 10,750 | −9.72% | +8.79% | +7.64% | -- |
| Nifty LargeMidcap 250 IndexIndex funds that copy the Nifty LargeMidcap 250: the 100 largest and the next 150 companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | 5 | 2,682 | −6.67% | +11.15% | -- | -- |
| Nifty 50 IndexIndex funds that copy the Nifty 50: the 50 largest companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −11.07% | +11.60% | +9.71% | +20.92% | +5.43% | +25.05% | +15.71% | +12.82% |
|---|---|---|---|---|---|---|---|---|
| Nifty Next 50 IndexIndex funds that copy the Nifty Next 50: the 50 companies that come after the Nifty 50 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −2.01% | +2.54% | +27.71% | +26.76% | +0.61% | +30.14% | +14.78% | +1.30% |
| Nifty Midcap 150 IndexIndex funds that copy the Nifty Midcap 150: the 150 companies ranked 101 to 250 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −5.29% | +5.51% | +23.98% | +43.99% | +3.42% | +46.89% | +26.12% | -- |
| Nifty Smallcap 250 IndexIndex funds that copy the Nifty Smallcap 250: the 250 companies ranked 251 to 500 by size. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | +0.54% | −5.96% | +26.41% | +48.10% | −3.36% | +61.30% | +25.93% | -- |
| BSE Sensex IndexIndex funds that copy the BSE Sensex: the 30 largest companies on the BSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −12.02% | +10.11% | +9.17% | +19.96% | +5.52% | +22.53% | +16.89% | +15.20% |
| Nifty 500 IndexIndex funds that copy the Nifty 500: the 500 largest companies on the NSE, about 90% of its market value. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −8.42% | +7.53% | +15.64% | +26.54% | +3.79% | +30.63% | +17.24% | -- |
| Nifty Bank IndexIndex funds that copy the Nifty Bank: the largest and most traded banks on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −7.83% | +17.80% | +5.98% | +12.88% | +21.83% | +13.01% | −3.23% | -- |
| Nifty IT IndexIndex funds that copy the Nifty IT: the largest information technology companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −12.71% | −10.73% | +23.87% | +25.71% | -- | -- | -- | -- |
| Nifty 50 Equal Weight IndexIndex funds that copy the Nifty 50 Equal Weight: the Nifty 50 companies, each held at an equal share. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −5.81% | +14.11% | +10.18% | +30.33% | +7.47% | +34.16% | +16.36% | +3.77% |
| Nifty200 Momentum 30 IndexIndex funds that copy the Nifty200 Momentum 30: the 30 Nifty 200 stocks with the strongest recent price rise. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −8.08% | −5.28% | +20.79% | +40.72% | −5.47% | -- | -- | -- |
| Nifty LargeMidcap 250 IndexIndex funds that copy the Nifty LargeMidcap 250: the 100 largest and the next 150 companies on the NSE. Funds that follow one index hold nearly the same stocks, so cost and how closely they track it matter most. | −7.26% | +7.94% | +18.40% | +32.04% | +4.04% | -- | -- | -- |
Sector and Theme Fund Categories
Put at least 80% in one sector or theme, such as banks or consumption. They depend on that one part of the market, so they can do much better or much worse than a diversified fund.
| Banking & Financial ServicesSector and theme funds that invest in banks, lenders, insurers and other financial companies. SEBI requires at least 80% of such a fund in its sector or theme. | 28 | 57,130 | −5.66% | +11.29% | +9.72% | +11.94% |
|---|---|---|---|---|---|---|
| TechnologySector and theme funds that invest in software, IT services and other technology companies. SEBI requires at least 80% of such a fund in its sector or theme. | 14 | 40,203 | −5.15% | +9.79% | +6.93% | +17.70% |
| Healthcare & PharmaSector and theme funds that invest in pharmaceutical, hospital and other healthcare companies. SEBI requires at least 80% of such a fund in its sector or theme. | 19 | 40,994 | +14.46% | +22.45% | +16.12% | +14.73% |
| InfrastructureSector and theme funds that invest in companies that build or run roads, power, ports, telecom and other infrastructure. SEBI requires at least 80% of such a fund in its sector or theme. | 21 | 52,903 | −3.23% | +14.97% | +16.13% | +15.32% |
| ConsumptionSector and theme funds that invest in companies that sell goods and services to Indian households. SEBI requires at least 80% of such a fund in its sector or theme. | 28 | 41,893 | −8.12% | +8.26% | +9.44% | +12.68% |
| ManufacturingSector and theme funds that invest in manufacturing companies. SEBI requires at least 80% of such a fund in its sector or theme. | 13 | 34,251 | +4.06% | +18.37% | +16.99% | +15.94% |
| PSUSector and theme funds that invest in companies the government owns most of. SEBI requires at least 80% of such a fund in its sector or theme. | 5 | 15,644 | −5.27% | +18.43% | +20.20% | +13.97% |
| Energy & CommoditiesSector and theme funds that invest in energy, power, oil and gas, metals and other commodity companies. SEBI requires at least 80% of such a fund in its sector or theme. | 10 | 34,313 | −2.24% | +15.77% | +13.23% | +15.38% |
| MNCSector and theme funds that invest in Indian companies run by multinational parents. SEBI requires at least 80% of such a fund in its sector or theme. | 7 | 16,913 | −2.58% | +7.11% | +7.24% | +9.51% |
| ESGSector and theme funds that invest in companies picked for their environmental, social and governance record. SEBI requires at least 80% of such a fund in its sector or theme. | 10 | 9,865 | −6.33% | +9.97% | +7.82% | +11.32% |
| Business CycleSector and theme funds that invest in the sectors the fund manager expects to gain in the current stage of the economy. SEBI requires at least 80% of such a fund in its sector or theme. | 19 | 40,558 | −3.68% | +12.86% | +12.00% | -- |
| Transport & AutoSector and theme funds that invest in carmakers, auto parts, transport and logistics companies. SEBI requires at least 80% of such a fund in its sector or theme. | 7 | 19,174 | +3.23% | +19.36% | +17.28% | +11.96% |
| Banking & Financial ServicesSector and theme funds that invest in banks, lenders, insurers and other financial companies. SEBI requires at least 80% of such a fund in its sector or theme. | −7.46% | +17.83% | +12.95% | +22.56% | +16.45% | +16.67% | +0.17% | +20.60% |
|---|---|---|---|---|---|---|---|---|
| TechnologySector and theme funds that invest in software, IT services and other technology companies. SEBI requires at least 80% of such a fund in its sector or theme. | −5.39% | −2.25% | +28.74% | +36.23% | −17.96% | +62.46% | +55.37% | +9.90% |
| Healthcare & PharmaSector and theme funds that invest in pharmaceutical, hospital and other healthcare companies. SEBI requires at least 80% of such a fund in its sector or theme. | +16.71% | −2.55% | +42.34% | +38.62% | −8.29% | +22.77% | +69.80% | +5.17% |
| InfrastructureSector and theme funds that invest in companies that build or run roads, power, ports, telecom and other infrastructure. SEBI requires at least 80% of such a fund in its sector or theme. | −0.18% | +0.47% | +29.24% | +47.18% | +10.98% | +52.87% | +10.31% | +3.78% |
| ConsumptionSector and theme funds that invest in companies that sell goods and services to Indian households. SEBI requires at least 80% of such a fund in its sector or theme. | −6.34% | +2.11% | +21.87% | +30.14% | +9.50% | +28.67% | +16.32% | +6.55% |
| ManufacturingSector and theme funds that invest in manufacturing companies. SEBI requires at least 80% of such a fund in its sector or theme. | +5.50% | +4.37% | +27.61% | +40.77% | +4.23% | +41.33% | +24.04% | +1.27% |
| PSUSector and theme funds that invest in companies the government owns most of. SEBI requires at least 80% of such a fund in its sector or theme. | −5.24% | +9.31% | +23.46% | +57.25% | +27.72% | +35.54% | −1.12% | +9.00% |
| Energy & CommoditiesSector and theme funds that invest in energy, power, oil and gas, metals and other commodity companies. SEBI requires at least 80% of such a fund in its sector or theme. | −1.74% | +9.98% | +19.61% | +36.62% | +7.19% | +53.79% | +24.55% | +6.70% |
| MNCSector and theme funds that invest in Indian companies run by multinational parents. SEBI requires at least 80% of such a fund in its sector or theme. | −2.10% | +2.35% | +14.44% | +25.02% | −2.19% | +30.43% | +19.60% | +3.69% |
| ESGSector and theme funds that invest in companies picked for their environmental, social and governance record. SEBI requires at least 80% of such a fund in its sector or theme. | −6.19% | +5.17% | +18.51% | +26.33% | −2.54% | +34.89% | +20.12% | +15.54% |
| Business CycleSector and theme funds that invest in the sectors the fund manager expects to gain in the current stage of the economy. SEBI requires at least 80% of such a fund in its sector or theme. | −2.45% | +2.76% | +23.62% | +30.21% | +9.28% | -- | -- | -- |
| Transport & AutoSector and theme funds that invest in carmakers, auto parts, transport and logistics companies. SEBI requires at least 80% of such a fund in its sector or theme. | +1.60% | +19.76% | +24.89% | +43.53% | +16.15% | +25.85% | +12.20% | −7.74% |
Other Fund Categories
Gold and silver funds, funds that invest abroad, target maturity debt funds that pay out on a set date, and retirement and children's funds with a lock-in.
| GoldGold ETFs and funds of funds that hold them. Their value follows the price of gold in rupees. | 31 | 75,667 | +16.17% | +30.76% | +22.61% | +15.21% |
|---|---|---|---|---|---|---|
| SilverSilver ETFs and funds of funds that hold them. Their value follows the price of silver in rupees. | 24 | 43,041 | +22.39% | +34.17% | -- | -- |
| InternationalFunds that invest in companies listed outside India, directly or through foreign funds and ETFs. | 49 | 51,183 | +15.24% | +25.82% | +11.77% | +12.39% |
| Target MaturityDebt index funds that hold government, state or PSU bonds maturing near one date and pay out on it. Held to that date, the return is close to the yield at purchase. | 77 | 66,654 | +4.39% | +7.32% | +6.11% | -- |
| RetirementSolution oriented funds for retirement. SEBI requires a lock-in of at least 5 years, or until retirement if that is earlier. | 29 | 31,899 | −2.16% | +9.50% | +8.39% | +10.12% |
| Children'sSolution oriented funds for a child's future. SEBI requires a lock-in of at least 5 years, or until the child turns 18 if that is earlier. | 12 | 27,740 | −3.92% | +9.45% | +8.50% | +9.98% |
| GoldGold ETFs and funds of funds that hold them. Their value follows the price of gold in rupees. | +2.40% | +75.70% | +19.20% | +13.95% | +12.81% | −4.94% | +27.22% | +22.83% |
|---|---|---|---|---|---|---|---|---|
| SilverSilver ETFs and funds of funds that hold them. Their value follows the price of silver in rupees. | −16.83% | +148.23% | +16.42% | +7.58% | -- | -- | -- | -- |
| InternationalFunds that invest in companies listed outside India, directly or through foreign funds and ETFs. | +13.26% | +32.23% | +15.39% | +25.46% | −13.88% | +11.63% | +19.71% | +25.60% |
| Target MaturityDebt index funds that hold government, state or PSU bonds maturing near one date and pay out on it. Held to that date, the return is close to the yield at purchase. | +3.50% | +7.95% | +8.69% | +7.53% | +2.23% | -- | -- | -- |
| RetirementSolution oriented funds for retirement. SEBI requires a lock-in of at least 5 years, or until retirement if that is earlier. | −2.33% | +6.44% | +15.72% | +21.17% | +2.84% | +18.32% | +13.84% | +8.11% |
| Children'sSolution oriented funds for a child's future. SEBI requires a lock-in of at least 5 years, or until the child turns 18 if that is earlier. | −3.63% | +5.22% | +18.55% | +23.49% | +1.65% | +29.53% | +16.11% | +8.33% |
Each return is the simple average of the category's funds, Direct plans, as on the latest NAV. 3, 5 and 10 year figures are a rate a year, from the funds old enough to have them. By calendar year: each fund's return from the last NAV of one year to the last NAV of the next; the current year runs to the latest NAV. AUM: the funds' assets added up at the end of their last reported month.
How SEBI Sorts Mutual Funds
SEBI's circular of 06-10-2017 set one list of categories for every fund house, with a rule for what each must hold. Before it, two funds with the same name could hold very different things. A fund house may run only one fund in each category, except index funds, ETFs, funds of funds and sector or theme funds.
Equity categories are set by company size (large, mid and small cap, by rank in market value) or by style (value, contra, focused, dividend yield). Debt categories are set by how long the fund's papers run, measured as Macaulay duration, or by who it lends to (corporate bonds, banks and public sector, government). Hybrid categories are set by the mix of shares and debt.
SEBI changed the Multi Cap rule on 11-09-2020 (at least 25% each in large, mid and small cap) and added the Flexi Cap category in November 2020. AMFI's daily NAV list now also uses new names for several debt categories, such as Ultra Short to Short Term for Low Duration and Short Term for Short Duration. This page keeps the familiar name and places each fund by the category AMFI lists it under.
Mutual Fund Categories: Frequently Asked Questions
How many mutual fund categories are there?
SEBI's rules of 06-10-2017 sort every open-ended fund into a category, in five groups: equity, debt, hybrid, solution oriented, and other (index funds, ETFs and funds of funds). This page lists 31 SEBI equity, hybrid and debt categories, and splits index, sector and theme funds by what they follow: 60 categories with 1373 funds.
Which mutual fund category has given the highest return?
Over 3 years, Silver funds: 34.2% a year on average, across 24 funds' Direct plans. Over 1 year the order can be very different, so look at several periods.
Which is the largest mutual fund category?
Liquid, with ₹6,45,910 Cr across 42 funds on 30-09-2026.
What is the difference between equity, debt and hybrid funds?
Equity funds buy shares of companies, debt funds lend through bonds and money market papers, and hybrid funds hold both. Equity can grow the most and fall the most; debt is the steadiest; hybrid sits between them.
Which mutual fund category has the lowest risk?
Overnight funds, which only hold papers that mature the next business day, then liquid funds, whose papers mature within 91 days. On SEBI's riskometer, most overnight funds are rated Low and most liquid funds Low to Moderate.
Which mutual funds save tax?
ELSS funds. An investment of up to ₹1.5 lakh a year can be deducted from income under Section 80C in the old tax regime. Each investment is locked in for 3 years, the shortest lock-in among tax-saving investments under 80C.
What is the difference between large cap, mid cap and small cap funds?
They hold companies of different sizes, by market value. Large cap: the 100 largest listed companies. Mid cap: those ranked 101 to 250. Small cap: 251 and below. Smaller companies can grow faster and fall harder.
How are mutual funds taxed in India?
A fund with 65% or more in Indian stocks is taxed as equity: 20% on gains within 1 year, 12.5% on gains above ₹1.25 lakh a year after that. A fund with 65% or more in debt: gains on units bought from 01-04-2023 are taxed at your slab rate. Rules in force from 23-07-2024.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.