Mutual funds pool money from various investors, enabling professional fund managers to make strategic investment decisions. The appeal lies in expert management, diversification to manage risk, and the flexibility to align with diverse financial goals. With options catering to different risk profiles and objectives, mutual funds provide liquidity, allowing investors to buy or sell shares at the net asset value (NAV). This blog will explore the top mutual funds across ten different categories based on their CRISIL rankings.
Top 10 mutual funds
Let’s check out the top mutual funds for investment, along with the AUM (Assets under Management) and category of each (as of December 31, 2023): Also Read: Types of Mutual funds in India based on investment goals, asset class, risk and more
| Fund name | AUM (Rs cr) | Category |
|---|---|---|
| HDFC Mid-Cap Opportunities Fund | 52,137.70 | Mid-cap fund |
| ICICI Prudential Bluechip Fund | 44,425.37 | Large-cap fund |
| HDFC Flexi Cap Fund | 42,271 | Flexi cap Fund |
| Nippon India Small Cap Fund | 41,018.84 | Small cap fund |
| Nippon India Multicap Fund | 22,695.37 | Multi cap fund |
| SBI Contra Fund | 18,930.58 | Value/Contra fund |
| SBI Long-Term Equity Fund | 17,279.15 | ELSS |
| UTI Nifty 50 Index Fund Direct-Growth | 13,626.63 | Fund/ETFs |
| HDFC Large and Mid Cap Fund | 13,427.73 | Large and mid-cap fund |
| HDFC Focused 30 Fund | 7,762.21 | Focussed fund |
Deeper insight into the top 10 mutual funds It is time for a closer look at the top mutual funds for investment across categories based on factors like volatility, expense ratios, total returns since inception, and more. Also Read: Top 10 index funds in India by AUMNote that-
- The expense ratio stands for the annual maintenance charge a mutual fund uses to finance miscellaneous expenses like management fees, allocation charges, costs of advertising, and more.
- Volatility refers to the degree of variation in the price of a mutual fund over time. Standard deviation gauges the dispersion of returns from the mean, offering insights into the fund's historical price fluctuations. Beta, on the other hand, compares the fund's volatility to the overall market's.
- Total returns since inception offer investors a long-term perspective on how well the fund has performed over its entire existence.
- The Portfolio Turnover Ratio (PTR) measures the frequency with which the fund's holdings are bought and sold within a specific period. A higher turnover ratio indicates more frequent trading, potentially leading to increased transaction costs and capital gains taxes for investors. On the other hand, a lower turnover ratio implies a buy-and-hold strategy with fewer portfolio adjustments.
- Tracking error quantifies the variability between a mutual fund's performance and the performance of its benchmark index. A low tracking error suggests the fund closely mirrors the benchmark, while a higher tracking error indicates greater deviation.
Also Read: Top 10 companies in India by market valuation in 2024
HDFC Mid-Cap Opportunities Fund
- Fund house: HDFC Mutual Fund
- Expense ratio: 1.5%
- Volatility, shared deviation: 15.11 vs 14.97
- Volatility, beta version: 0.9 vs 0.88
- Total returns since inception: 1329.75%
- Portfolio turnover ratio: 12.35%
- Tracking error: 4.65%
The fund puts 93.96 percent of its accumulations in local stocks. Of this, 5.16 percent is in Large-cap stocks, 54.07 percent is in mid-cap stocks, and 18.58 percent is in small-cap stocks.
ICICI Prudential Bluechip Fund
- Fund house: ICICI Prudential Mutual Fund
- Expense ratio: 1.56%
- Volatility, shared deviation: 13.4 vs 14.03
- Volatility, beta version: 0.91 vs 0.94
- Total returns since inception: 761.20%
- Portfolio turnover ratio: 23.00%
- Tracking error: 6.18%
The fund allocates 90.89 percent of its investments to local stocks, with 79.12 percent in large-cap stocks, 5.63 percent in mid-cap stocks, and 0.36 percent in small-cap stocks. Additionally, 0.5 percent of the fund is invested in Debt, with 0.51 percent specifically in Government securities.
HDFC Flexi Cap Fund
- Fund house: HDFC Mutual Fund
- Expense ratio: 1.57%
- Volatility, shared deviation: 14.82 vs 14.24
- Volatility, beta version: 0.96 vs 0.94
- Total returns since inception: 14572.15%
- Portfolio turnover ratio: 24.52%
- Tracking error: 7.50%
The fund holds 88.57 percent of its investments in local equities, with 62.49 percent in large-cap stocks, 5.99 percent in mid-cap stocks, and 3.98 percent in small-cap stocks.Also Read: Top 10 FMCG companies in India by market cap
Nippon India Small Cap Fund
- Fund house: Nippon India Mutual Fund
- Expense ratio: 1.53%
- Volatility, shared deviation: 15.98 vs 15.1
- Volatility, beta version: 0.89 vs 0.81
- Total returns since inception: 1236.02%
- Portfolio turnover ratio: 19.00%
- Tracking error: 0.0%
This fund allocates 96.26 percent of its investments to domestic equities, with 5.35 percent in large-cap stocks, 8.64 percent in mid-cap stocks, and a significant 56.38 percent in small-cap stocks.
Nippon India Multicap Fund
- Fund house: Nippon India Mutual Fund
- Expense ratio: 1.67%
- Volatility, shared deviation: 15.27 vs 14.67
- Volatility, beta version: 0.99 vs 0.92
- Total returns since inception: 2125.12%
- Portfolio turnover ratio: 30.00%
- Tracking error: 10.18%
This fund has a portfolio comprising 98.37 percent of investments in domestic equities. Among these, 36 percent is in Large-cap stocks, 21.97 percent is in mid-cap stocks, and 23.75 percent is in small-cap stocks.Also Read: Top 10 IT companies in India by market capitalisation
SBI Contra Fund
- Fund house: SBI Mutual fund
- Expense ratio: 1.7%
- Volatility, shared deviation: 13.44 vs 13.95
- Volatility, beta version: 0.86 vs 0.93
- Total returns since inception: 1795.84%
- Portfolio turnover ratio: 204.00%
- Tracking error: 6.84%
The fund allocates 76.23 percent of its investments to domestic equities, with 34.51 percent in large-cap stocks, 17.62 percent in mid-cap stocks, and 9.51 percent in small-cap stocks. Additionally, the fund has 6.21 percent invested in Debt, with the entire Debt allocation in Government securities.
SBI Long-Term Equity Fund
- Fund house: SBI Mutual fund
- Expense ratio: 1.72%
- Volatility, shared deviation: 13.42 VS 13.81
- Volatility, beta version: 0.92 VS 0.91
- Total returns since inception: 3091.43%
- Portfolio turnover ratio: 17.00%
- Tracking error: 3.66%
The fund holds 93.28 percent of its investments in domestic equities, with 54.47 percent in large-cap stocks, 13.88 percent in mid-cap stocks, and 11.8 percent in small-cap stocks.
UTI Nifty 50 Index Fund Direct-Growth
- Fund house: UTI Mutual fund
- Expense ratio: 0.21%
- Volatility, shared deviation: 14.51 vs 14.89
- Volatility, beta version: 0.99 vs 0.83
- Total returns since inception: 287.42%
- Portfolio turnover ratio: 4.00%
- Tracking error: 0.13%
This fund brings a passive investment strategy in a diversified portfolio of Nifty 50 stocks.
HDFC Large and Mid Cap Fund
- Fund house: HDFC Mutual fund
- Expense ratio: 1.57%
- Volatility, shared deviation: 14.82 vs 14.24
- Volatility, beta version: 0.96 vs 0.94
- Total returns since inception: 14572.15%
- Portfolio turnover ratio: 24.52%
- Tracking error: 5.12%
The fund holds a portfolio with 95.81 percent invested in domestic equities; 38.05 percent is in large-cap stocks, 29.47 percent in mid-cap stocks, and 9.06 percent in small-cap stocks.
HDFC Focused 30 Fund
- Fund house: HDFC Mutual fund
- Expense ratio: 1.76%
- Volatility, shared deviation: 13.88 vs 14.26
- Volatility, beta version: 0.9 vs 0.93
- Total returns since inception: 1594.39%
- Portfolio turnover ratio: 18.84%
- Tracking error: 7.04%
The fund maintains an 83.14 percent investment in domestic equities, with a breakdown comprising 55.86 percent in large-cap stocks, 7.5 percent in mid-cap stocks, and 4.19 percent in small-cap stocks.
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