Top Value and Contra Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 28 Value and Contra mutual funds. Their average 3 year return is 11.8% a year, and −5.7% over the last year. The highest 3 year returns: Quant Value Fund 19.1%, Axis Value Fund 17.7%, DSP Value Fund 16.3%.
- Total AUM
- ₹2,07,724 Cr
- As on 30-09-2026
- Funds
- 28
- From 28 fund houses
- Expense ratio
- 0.76% to 2.18%
- Direct plans, lowest to highest
- Average 3Y return
- 11.8%
- A year, Direct plans
All Value and Contra Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Quant Value Fund | 1 | 1,917 | +3.16% | +19.06% | -- | -- | Very High | 0.92% | 1% within 15 days | 18.80% |
| Axis Value Fund | 2 | 1,836 | +1.22% | +17.74% | +14.91% | -- | Very High | 0.88% | 1% within 12 months | 14.05% |
| DSP Value Fund | 3 | 2,225 | +0.33% | +16.31% | +12.31% | -- | Very High | 1.53% | 1% within 1 month | 10.42% |
| LIC MF Value Fund | 4 | 336 | +10.90% | +16.07% | -- | -- | Very High | 1.78% | 1% within 12 months | 17.18% |
| HDFC Value Fund | 5 | 8,039 | −1.48% | +15.13% | +12.33% | +13.72% | Very High | 1.11% | 0.25% within 1 month | 13.73% |
| Invesco India Contra Fund | 6 | 19,248 | −6.49% | +14.19% | +11.77% | +15.21% | Very High | 0.76% | 1% within 1 year | 14.87% |
| HSBC Value Fund | 7 | 14,660 | −5.46% | +14.13% | -- | -- | Very High | 0.89% | 1% within 1 year | 15.93% |
| Kotak Contra Fund | 8 | 5,196 | −7.37% | +13.69% | +12.60% | +15.65% | Very High | 0.80% | 1% within 90 days | 14.47% |
| UTI Value Fund | 9 | 9,025 | −9.06% | +11.71% | +9.95% | +12.87% | Very High | 1.35% | 1% within 1 year | 13.31% |
| Nippon India Value Fund | 10 | 8,479 | −11.61% | +11.65% | +11.46% | +14.20% | Very High | 1.26% | 1% within 12 months | 15.19% |
| Tata Value Fund | 11 | 8,239 | −7.07% | +11.48% | +11.54% | +13.19% | Very High | 1.06% | 0.5% within 30 days | 15.42% |
| ICICI Prudential Value Fund | 12 | 57,250 | −9.65% | +11.45% | +12.96% | +14.04% | Very High | 1.08% | 1% within 12 months | 11.22% |
| Groww Value Fund | 13 | 80 | −6.64% | +11.38% | +9.74% | +10.15% | Very High | 1.56% | 1% within 1 year | 13.50% |
| Union Value Fund | 14 | 378 | −6.91% | +10.89% | +10.75% | -- | Very High | 1.51% | 1% within 15 days | 14.66% |
| ITI Value Fund | 15 | 346 | −7.38% | +10.66% | +10.32% | -- | Very High | 1.34% | 0.5% within 3 months | 17.09% |
| SBI Contra Fund | 16 | 45,068 | −9.28% | +10.39% | +13.53% | +14.70% | Very High | 0.87% | Varies | 12.51% |
| Bandhan Value Fund | 17 | 9,981 | −5.59% | +10.34% | +11.62% | +14.55% | Very High | 0.95% | 1% within 1 year | 12.89% |
| Canara Robeco Value Fund | 18 | 1,213 | −8.75% | +9.88% | +11.91% | -- | Very High | 0.87% | 1% within 365 days | 13.72% |
| JM Value Fund | 19 | 780 | −9.64% | +9.77% | +12.34% | +14.15% | Very High | 1.59% | 1% within 30 days | 17.15% |
| Quantum Value Fund | 20 | 1,048 | −10.00% | +9.52% | +8.72% | +10.02% | Very High | 1.14% | Varies | 12.25% |
| Templeton India Value Fund | 21 | 1,807 | −10.77% | +8.77% | +11.13% | +12.49% | -- | 1.11% | 1% within 1 year | 13.07% |
| Baroda BNP Paribas Value Fund | 22 | 920 | −7.03% | +8.63% | -- | -- | -- | 1.33% | -- | 14.57% |
| Sundaram Value Fund | 23 | 1,217 | −11.71% | +6.15% | +6.66% | +9.33% | Very High | 1.77% | 1% within 365 days | 12.87% |
| Aditya Birla Sun Life Value Fund | 24 | 6,659 | −6.14% | +4.90% | +5.05% | +5.16% | Very High | 1.22% | 1% within 90 days | 17.79% |
| Mahindra Manulife Value Fund | -- | 1,015 | −0.61% | -- | -- | -- | Very High | 1.06% | 0.5% within 3 months | -- |
| Motilal Oswal Contra Fund | -- | 407 | -- | -- | -- | -- | -- | 2.18% | -- | -- |
| Bank of India Value Fund | -- | 356 | -- | -- | -- | -- | Very High | 1.70% | 1% within 3 months | -- |
| NJ Value Fund | -- | -- | -- | -- | -- | -- | Very High | 1.60% | None | -- |
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 Value and Contra Funds Bought and Sold in September 2026
What the 4 largest Value and Contra funds changed in their September 2026 portfolios, against the month before
Bought
| Stock | New in | Added by |
|---|---|---|
| Vedanta Aluminium Metal Ltd.ICICI Prudential Value, HSBC Value | 1 fund | 1 fund |
| HDFC Bank Ltd.ICICI Prudential Value, HSBC Value | -- | 2 funds |
| Swiggy Ltd.SBI Contra | 1 fund | -- |
| National Stock Exchange Of India LtdInvesco India Contra | 1 fund | -- |
| Wipro Ltd.SBI Contra | 1 fund | -- |
| GMM Pfaudler LimitedInvesco India Contra | 1 fund | -- |
| Pfizer Ltd.ICICI Prudential Value | 1 fund | -- |
| WEST COAST PAPER MILLS LTDHSBC Value | 1 fund | -- |
| Reliance Industries Ltd.ICICI Prudential Value | -- | 1 fund |
| Kotak Mahindra Bank Ltd.SBI Contra | -- | 1 fund |
Sold
| Stock | Exited by | Reduced by |
|---|---|---|
| UltraTech Cement LimitedInvesco India Contra | 1 fund | -- |
| Britannia Industries LimitedInvesco India Contra | 1 fund | -- |
| Cohance Lifesciences Ltd.ICICI Prudential Value | 1 fund | -- |
| Life Insurance Corporation of IndiaICICI Prudential Value | -- | 1 fund |
| Coforge LimitedInvesco India Contra | -- | 1 fund |
| Infosys LimitedInvesco India Contra | -- | 1 fund |
| Larsen & Toubro Ltd.ICICI Prudential Value | -- | 1 fund |
| TVS Motor Company LimitedInvesco India Contra | -- | 1 fund |
| Kotak Mahindra Bank Ltd.ICICI Prudential Value | -- | 1 fund |
| Hyundai Motor India Ltd.ICICI Prudential Value | -- | 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: ICICI Prudential Value Fund, SBI Contra Fund, Invesco India Contra Fund, HSBC Value Fund.
Compare Value and Contra Funds
The largest funds of the category, side by side
How Value and Contra Funds Are Taxed
As equity funds: 65% or more of each fund is in Indian stocks
| When you sell | Tax on the gain |
|---|---|
| Within 1 year | 20% of the gain (short term) |
| After 1 year | 12.5% of gains above ₹1.25 lakh a financial year (long term) |
- 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 Value and Contra Fund?
At least 65% in stocks, picked by a value strategy (shares priced below their worth) or a contrarian one (against the market's mood). This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other equity categories: Large Cap · Large & Mid Cap · Mid Cap · Small Cap · Multi Cap · Flexi Cap · Focused · Dividend Yield · ELSS
Value and Contra Funds: Frequently Asked Questions
Which are the top Value and Contra mutual funds?
By 3 year return, the top Value and Contra funds are 1. Quant Value Fund (19.1% a year), 2. Axis Value Fund (17.7% a year), 3. DSP Value Fund (16.3% a year), 4. LIC MF Value Fund (16.1% a year), 5. HDFC Value Fund (15.1% 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 Value and Contra funds are there?
28 Value and Contra funds are open for investment, from 28 fund houses.
What is a Value and Contra fund?
At least 65% in stocks, picked by a value strategy (shares priced below their worth) or a contrarian one (against the market's mood).
What is the average return of Value and Contra funds?
1 year: -5.7%, 3 years: 11.8% a year, 5 years: 11.1% a year. The simple average of every Value and Contra fund's Direct plan.
Which Value and Contra fund has the lowest expense ratio?
Invesco India Contra Fund, at 0.76% a year (Direct plan), as reported to AMFI.
Which is the largest Value and Contra fund?
ICICI Prudential Value Fund, with ₹57,250 Cr of investors' money on 30-09-2026.
How are Value and Contra funds taxed?
As equity funds: gains on units sold within 1 year are taxed at 20%; after that, gains above ₹1.25 lakh a financial year are taxed at 12.5%.
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.