Highest Sharpe Ratio Mutual Funds
Updated November 2026 · 25 active funds · data from AMFI NAVs
The Sharpe ratio measures return earned per unit of risk (volatility), so this list rewards funds that delivered smoother, more efficient returns rather than the highest raw number. It is computed from month-end AMFI NAVs against a 7% risk-free rate. A higher Sharpe is generally better, but the ratio depends on the period measured and says nothing about whether a fund fits your goals. Compare across categories with care - a debt fund and a small-cap fund are not interchangeable just because their Sharpe ratios are similar.
| # | Scheme | 1Y | 3Y | 5Y | Sharpe | Max DD | TER | AUM |
|---|---|---|---|---|---|---|---|---|
| 1 | WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital | +9.63% | +16.84% | - | 1.36 | -6.1% | 0.42% | ₹6.3K Cr |
| 2 | Kotak India Growth Fund Series 4 Kotak Mahindra | +50.25% | - | - | 1.36 | -14.0% | - | - |
| 3 | Franklin India Ultra Short Bond Fund - Institutional Franklin Templeton | +13.69% | - | - | 1.32 | -1.2% | - | - |
| 4 | Franklin India Ultra Short Bond Fund - Retail Franklin Templeton | +13.69% | - | - | 1.32 | -1.2% | - | - |
| 5 | HDFC Pharma and Healthcare Fund HDFC | +32.21% | +31.10% | - | 1.32 | -14.9% | 1.17% | ₹2.0K Cr |
| 6 | Axis NASDAQ 100 US Specific Equity Passive FOF Axis | +18.49% | +26.28% | - | 1.15 | -23.0% | 0.29% | ₹189 Cr |
| 7 | Motilal Oswal Developed Market Ex US ETFs Fund of Funds Motilal Oswal | +21.66% | +22.69% | - | 1.15 | -14.3% | - | ₹36 Cr |
| 8 | Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund Mirae Asset | +22.55% | +33.44% | - | 1.14 | -27.2% | 0.14% | ₹378 Cr |
| 9 | UTI Gold ETF Fund of Fund UTI | +11.85% | +31.43% | - | 1.14 | -23.6% | 0.15% | ₹528 Cr |
| 10 | Zerodha Gold ETF FoF Zerodha | +11.69% | - | - | 1.12 | -24.3% | - | ₹292 Cr |
| 11 | UTI Gold ETF Fund of Fund - Regular Plan - Growth Opton UTI | +11.43% | +30.89% | - | 1.12 | -23.6% | - | ₹652 Cr |
| 12 | Groww Gold ETF FOF Groww | +10.82% | - | - | 1.12 | -24.9% | - | ₹104 Cr |
| 13 | Aditya Birla Sun Life Credit Risk Fund Aditya Birla Sun Life | +11.20% | +13.01% | +10.86% | 1.10 | -0.8% | - | ₹1.2K Cr |
| 14 | Tata Gold ETF Fund of Fund Tata | +11.43% | - | - | 1.10 | -24.3% | 0.28% | ₹1.2K Cr |
| 15 | DSP Gold ETF Fund of Fund DSP | +11.80% | - | - | 1.09 | -25.2% | 0.63% | ₹481 Cr |
| 16 | Franklin India Income Plus Arbitrage Active Fund of Funds Franklin Templeton | +5.85% | +12.98% | +10.29% | 1.08 | -5.2% | 0.20% | ₹118 Cr |
| 17 | Franklin India Ultra Short Bond Fund - Super Institutional Franklin Templeton | +10.79% | - | - | 1.07 | -1.2% | - | - |
| 18 | Baroda BNP Paribas Gold ETF Baroda BNP Paribas | +12.31% | - | - | 1.06 | -22.2% | 0.11% | ₹324 Cr |
| 19 | SBI Children's Fund - Investment SBI | +10.79% | +21.55% | +18.20% | 1.06 | -15.7% | 1.18% | ₹5.2K Cr |
| 20 | Edelweiss Gold ETF Edelweiss | +12.37% | +31.06% | - | 1.05 | -22.1% | 0.10% | ₹1.5K Cr |
| 21 | LIC MF Gold ETF Fund of Fund LIC | +11.83% | +31.08% | - | 1.04 | -24.5% | 0.35% | ₹746 Cr |
| 22 | Mirae Asset Gold ETF Fund of Fund Mirae Asset | +12.02% | - | - | 1.03 | -23.8% | 0.10% | ₹436 Cr |
| 23 | ICICI Prudential Multi - Asset Fund ICICI Prudential | +2.89% | +14.50% | +14.65% | 1.03 | -9.5% | 0.80% | ₹80.6K Cr |
| 24 | quant Multi Asset Allocation Fund quant | +11.64% | +21.42% | +17.81% | 1.03 | -15.9% | 0.61% | ₹4.8K Cr |
| 25 | DSP Multi Asset Allocation Fund DSP | +9.92% | +18.40% | - | 1.01 | -9.7% | 0.38% | ₹7.9K Cr |
Ranked by Sharpe Ratio (highest first), on funds with that metric available. Returns, Sharpe, drawdown and TER are computed independently from AMFI NAVs - see methodology. No paid placement.