Top Conservative Hybrid Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 18 Conservative Hybrid mutual funds. Their average 3 year return is 7.6% a year, and +1.0% over the last year. The highest 3 year returns: Parag Parikh Conservative Hybrid Fund 8.7%, HSBC Conservative Hybrid Fund 8.6%, ICICI Prudential Conservative Hybrid Fund 8.4%.
- Total AUM
- ₹29,448 Cr
- As on 30-09-2026
- Funds
- 18
- From 18 fund houses
- Expense ratio
- 0.32% to 1.68%
- Direct plans, lowest to highest
- Average 3Y return
- 7.6%
- A year, Direct plans
All Conservative Hybrid Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund | 1 | 3,454 | +1.84% | +8.72% | +8.79% | -- | Moderately High | 0.32% | 1% within 1 year | 2.72% |
| HSBC Conservative Hybrid Fund | 2 | 152 | +0.59% | +8.59% | +7.14% | +7.72% | Moderately High | 1.19% | None | 4.79% |
| ICICI Prudential Conservative Hybrid Fund | 3 | 3,270 | +1.04% | +8.45% | +7.91% | +9.10% | -- | 1.04% | 1% within 1 year | 3.17% |
| Nippon India Conservative Hybrid Fund | 4 | 977 | +4.80% | +8.44% | +8.03% | +5.91% | -- | 1.01% | -- | 1.95% |
| Aditya Birla Sun Life Conservative Hybrid Fund | 5 | 1,467 | +1.68% | +8.39% | +7.69% | +8.08% | Moderately High | 0.96% | 1% within 90 days | 3.30% |
| Kotak Conservative Hybrid Fund | 6 | 2,733 | +0.20% | +8.35% | +7.87% | +9.22% | High | 0.60% | 1% within 6 months | 4.40% |
| DSP Conservative Hybrid Fund | 7 | 175 | +1.82% | +8.24% | +7.41% | +7.09% | Moderately High | 0.64% | None | 3.21% |
| Baroda BNP Paribas Conservative Hybrid Fund | 8 | 949 | +2.43% | +8.15% | -- | -- | -- | 0.56% | -- | 3.65% |
| SBI Conservative Hybrid Fund | 9 | 10,107 | +2.04% | +8.01% | +7.93% | +8.59% | High | 0.98% | 1% within 1 year | 3.63% |
| Bandhan Conservative Hybrid Fund | 10 | 87 | +1.54% | +7.57% | +5.60% | +6.62% | Moderately High | 0.89% | 0.25% within 7 days | 3.85% |
| Franklin India Conservative Hybrid Fund | 11 | 208 | +0.09% | +7.55% | +6.89% | +7.18% | -- | 0.81% | None | 3.62% |
| UTI Conservative Hybrid Fund | 12 | 1,602 | −0.86% | +7.45% | +6.67% | +7.73% | Moderately High | 1.25% | 1% within 12 months | 3.86% |
| Canara Robeco Conservative Hybrid Fund | 13 | 811 | +0.65% | +7.42% | +6.69% | +8.33% | Moderately High | 0.77% | 1% within 1 year | 3.66% |
| HDFC Conservative Hybrid Fund | 14 | 3,108 | −0.09% | +7.18% | +7.38% | +8.01% | Moderately High | 1.18% | 1% within 1 year | 3.67% |
| Axis Conservative Hybrid Fund | 15 | 217 | −0.11% | +6.52% | +5.66% | +7.13% | Moderately High | 1.16% | 1% within 1 month | 3.42% |
| Bank of India Conservative Hybrid Fund | 16 | 66 | +1.21% | +6.42% | +9.43% | +7.14% | Moderately High | 1.18% | 1% within 3 months | 3.85% |
| LIC MF Conservative Hybrid Fund | 17 | 46 | +0.86% | +6.20% | +5.09% | +6.35% | Moderately High | 1.68% | 1% within 90 days | 3.40% |
| Sundaram Conservative Hybrid Fund | 18 | 18 | −1.40% | +5.41% | +5.09% | +6.19% | Moderate | 1.14% | None | 3.36% |
Returns of each fund's Direct plan (its only plan where it has one), as on the latest NAV. 3, 5 and 10 year figures are a rate a year. Std dev: how much the daily returns swung over 3 years, as a yearly figure; lower is steadier. Riskometer and exit load from the fund's scheme summary document; "Varies" means the load changes with how long you hold, and the fund page has the full wording. Expense ratio: Direct plan, from AMFI. AUM at the end of the fund's last reported month. A fund younger than 3 years has no rank and is listed after the ranked ones.
Stocks Conservative Hybrid Funds Bought and Sold in September 2026
What the 5 largest Conservative Hybrid funds changed in their September 2026 portfolios, against the month before
Bought
| Stock | New in | Added by |
|---|---|---|
| Hindustan Unilever Ltd.HDFC Conservative Hybrid | 1 fund | -- |
| One 97 Communications LtdKotak Conservative Hybrid | 1 fund | -- |
| Pg Electroplast Ltd.ICICI Prudential Conservative Hybrid | 1 fund | -- |
| Elevate Campuses Ltd.SBI Conservative Hybrid | 1 fund | -- |
| PI Industries Ltd.ICICI Prudential Conservative Hybrid | 1 fund | -- |
| ITC LimitedParag Parikh Conservative Hybrid | -- | 1 fund |
| Power Grid Corporation of India LimitedParag Parikh Conservative Hybrid | -- | 1 fund |
| SBI Life Insurance Company Ltd.ICICI Prudential Conservative Hybrid | -- | 1 fund |
| HDFC BANK LTD.Kotak Conservative Hybrid | -- | 1 fund |
| Power Finance Corporation LimitedParag Parikh Conservative Hybrid | -- | 1 fund |
Sold
| Stock | Exited by | Reduced by |
|---|---|---|
| ITC LimitedHDFC Conservative Hybrid | 1 fund | -- |
| Graphite India Ltd.SBI Conservative Hybrid | 1 fund | -- |
| Aether Industries Ltd.SBI Conservative Hybrid | 1 fund | -- |
| Onemi Technology Solutions Ltd.ICICI Prudential Conservative Hybrid | 1 fund | -- |
| Mphasis Ltd.ICICI Prudential Conservative Hybrid | 1 fund | -- |
| Nuvoco Vistas Corporation Ltd.SBI Conservative Hybrid | 1 fund | -- |
| NTPC LTDKotak Conservative Hybrid | -- | 1 fund |
| Radico Khaitan Ltd.Kotak Conservative Hybrid | -- | 1 fund |
| PVR INOX Ltd.ICICI Prudential Conservative Hybrid | -- | 1 fund |
From each fund's own monthly portfolio, stocks only. "New in" means the fund did not hold the stock the month before; "Exited by" means it sold all of it. Added and reduced count shares held, so a price move alone is not a change. Funds counted: SBI Conservative Hybrid Fund, Parag Parikh Conservative Hybrid Fund, ICICI Prudential Conservative Hybrid Fund, HDFC Conservative Hybrid Fund, Kotak Conservative Hybrid Fund.
Compare Conservative Hybrid Funds
The largest funds of the category, side by side
- SBI Conservative Hybrid vs Parag Parikh Conservative Hybrid
- SBI Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- SBI Conservative Hybrid vs HDFC Conservative Hybrid
- Parag Parikh Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- Parag Parikh Conservative Hybrid vs HDFC Conservative Hybrid
- ICICI Prudential Conservative Hybrid vs HDFC Conservative Hybrid
How Conservative Hybrid Funds Are Taxed
As debt funds: 65% or more of each fund is in bonds and money market papers
| When you sell | Tax on the gain |
|---|---|
| Units bought on or after 01-04-2023 | Your slab rate, however long you hold them |
| Units bought before 01-04-2023, within 2 years | Your slab rate |
| Units bought before 01-04-2023, after 2 years | 12.5% of the gain |
- IDCW (dividend) payouts are added to your income and taxed at your slab rate.
- A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
What Is a Conservative Hybrid Fund?
10% to 25% in stocks and 75% to 90% in debt. This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other hybrid categories: Aggressive Hybrid · Balanced Advantage · Multi Asset · Equity Savings · Arbitrage
Conservative Hybrid Funds: Frequently Asked Questions
Which are the top Conservative Hybrid mutual funds?
By 3 year return, the top Conservative Hybrid funds are 1. Parag Parikh Conservative Hybrid Fund (8.7% a year), 2. HSBC Conservative Hybrid Fund (8.6% a year), 3. ICICI Prudential Conservative Hybrid Fund (8.4% a year), 4. Nippon India Conservative Hybrid Fund (8.4% a year), 5. Aditya Birla Sun Life Conservative Hybrid Fund (8.4% a year). Past returns do not promise future returns, so also look at costs, risk and how long each fund has done well.
How many Conservative Hybrid funds are there?
18 Conservative Hybrid funds are open for investment, from 18 fund houses.
What is a Conservative Hybrid fund?
10% to 25% in stocks and 75% to 90% in debt.
What is the average return of Conservative Hybrid funds?
1 year: 1.0%, 3 years: 7.6% a year, 5 years: 7.1% a year. The simple average of every Conservative Hybrid fund's Direct plan.
Which Conservative Hybrid fund has the lowest expense ratio?
Parag Parikh Conservative Hybrid Fund, at 0.32% a year (Direct plan), as reported to AMFI.
Which is the largest Conservative Hybrid fund?
SBI Conservative Hybrid Fund, with ₹10,107 Cr of investors' money on 30-09-2026.
How are Conservative Hybrid funds taxed?
As debt funds: for units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold them.
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.