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Best Mutual Funds with Highest Returns 2023
Selecting a right fund to invest is not easy! Many investor looks for the best performing funds to get the best returns. However, returns are not the only criteria that an investor should look in a fund. Various important parameters like AUM, fund age, peer average returns, fund manager, exit load, etc., decides the stability and performance of Mutual Fund schemes. Investors who are looking at the highest return funds, can analyse the Mutual Fund performances for over the past few years, and invest in the fund that has delivered the most stable returns. First, let’s understand the basic of Mutual Funds.
What are Mutual Funds?
Mutual Funds are one of the most popular ways of Investing money. It pools the money from the investors and invests this in stocks, money market instruments, Bonds and other types of securities. For instance, an equity fund invests in stocks/shares of the company, and a Debt fund invests in Debentures, bonds, etc. Each Mutual Fund types come with an investment objective. There are 42 Mutual Fund companies in India (called Asset Management Companies or AMCs) that provide Mutual Fund schemes. These Mutual Fund companies are regulated by SEBI. Securities and Exchange Board of India (SEBI) is the regulatory body for Mutual Funds in India.
Best Mutual Funds to Invest with Highest Returns
The various Types of Mutual Funds are Equity Funds, debt funds and hybrid funds. Each fund has certain investment objectives and aims at fulfilling investment goals of the investors. So, let’s have a look at these schemes along with their funds that are delivering high returns.
Best Debt Mutual Funds with Highest Returns 2023
Debt Mutual Funds mainly invests in a fixed Income instrument like government securities, treasury bills, corporate bonds, etc. These funds are ideally preferred by those who are looking for a steady income and higher returns than traditional Bank accounts. Debt funds are known for its optimal returns over the short-term. Investors with a low-appetite who wants to invest in Mutual Funds should prefer investing in debt funds. These funds are comparatively less volatile than equities. Debt funds like liquid, ultra-short term, short term are a good option for short-term investments. Long-term debt funds are risky and the maturity of these securities could for up to 5-7 years, in some case up to 10 years & above. Following are the categories of debt funds, along with their highest returns.
Top 5 Liquid Funds with 1 Year Highest Returns
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Baroda Pioneer Liquid Fund Growth ₹2,568.46
↑ 1.91 ₹6,686 0.6 1.7 3.3 5.7 4.9 7.47% 1M 9D 1M 13D BOI AXA Liquid Fund Growth ₹2,565.47
↑ 1.68 ₹403 0.6 1.6 3.3 5.7 4.9 7.44% 29D 29D Axis Liquid Fund Growth ₹2,482.2
↑ 1.79 ₹27,226 0.6 1.7 3.3 5.7 4.9 7.23% 1M 7D 1M 8D Canara Robeco Liquid Growth ₹2,684.15
↑ 1.96 ₹2,548 0.6 1.6 3.3 5.7 4.9 7.19% 1M 12D 1M 16D Mahindra Liquid Fund Growth ₹1,451.64
↑ 0.83 ₹514 0.6 1.6 3.3 5.6 4.9 7.35% 1M 13D 1M 13D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Ultra Short Term Funds with 1 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Franklin India Ultra Short Bond Fund - Super Institutional Plan Growth ₹34.9131
↑ 0.04 ₹297 1.3 5.9 13.7 8.8 0% 1Y 15D Aditya Birla Sun Life Savings Fund Growth ₹463.655
↑ 0.38 ₹14,457 1.6 3.3 5.3 5.3 4.8 7.83% 5M 19D 6M ICICI Prudential Ultra Short Term Fund Growth ₹23.5868
↑ 0.02 ₹12,447 1.6 3.2 5.2 5.1 4.5 7.81% 4M 28D 5M 23D IDBI Ultra Short Term Fund Growth ₹2,370.63
↑ 1.27 ₹198 1.5 3.1 5.2 4.6 4.5 7.15% 3M 26D 4M 18D Nippon India Ultra Short Duration Fund Growth ₹3,447.26
↑ 2.09 ₹5,115 1.5 3.1 5.1 6 4.6 7.83% 4M 16D 4M 28D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Aug 22
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Top 5 Short Term Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Franklin India Short Term Income Plan - Retail Plan Growth ₹4,936.57
↑ 0.53 ₹429 2.6 4.8 4.9 9 8.6 0% IDBI Short Term Bond Fund Growth ₹23.3193
↑ 0.01 ₹30 1.5 3.1 3.8 8.2 3 7.31% 1Y 3M 22D 1Y 8M 5D UTI Short Term Income Fund Growth ₹26.7047
↓ 0.00 ₹2,270 1.5 3.1 4.4 7.4 3.8 7.77% 1Y 7M 28D 2Y 3M Aditya Birla Sun Life Short Term Opportunities Fund Growth ₹40.0627
↑ 0.03 ₹5,045 1.5 3.1 4.7 6.5 4.2 8.02% 2Y 7D 2Y 6M 14D BNP Paribas Short Term Fund Growth ₹25.4771
↓ -0.01 ₹258 0.6 1.3 4.6 6.5 5.16% 1Y 11M 26D 2Y 3M Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Gilt Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Gilt Fund Growth ₹85.3295
↑ 0.15 ₹2,693 1.8 3.3 5.9 6 3.7 7.56% 1Y 7M 6D 8Y 8M 19D Edelweiss Government Securities Fund Growth ₹20.6458
↑ 0.03 ₹120 1.6 3.2 3.9 5.9 2.5 7.43% 3Y 6M 25D 4Y 6M 7D SBI Magnum Gilt Fund Growth ₹55.1065
↑ 0.07 ₹4,301 1.7 3.7 5.7 5.5 4.2 7.45% 6Y 4M 10D 11Y 9M 11D DSP BlackRock Government Securities Fund Growth ₹79.557
↑ 0.09 ₹430 1.6 3.3 4.4 5.2 2.7 7.39% 3Y 25D 5Y 2M 26D Aditya Birla Sun Life Government Securities Fund Growth ₹68.2833
↑ 0.09 ₹1,351 1.7 3.7 3.1 5 1.7 7.59% 3Y 5M 16D 4Y 3M 14D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Dynamic Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Franklin India Dynamic Accrual Fund Growth ₹94.788
↑ 0.84 ₹99 2.4 22.4 31.9 11.7 0% 3M 18D UTI Dynamic Bond Fund Growth ₹26.0971
↓ -0.01 ₹469 1.4 2.7 12 9.9 10.1 7.11% 2Y 11M 19D 4Y 1M 24D Aditya Birla Sun Life Dynamic Bond Fund Growth ₹38.6678
↑ 0.04 ₹1,795 1.5 3.2 7 6.7 6 7.91% 2Y 8M 19D 3Y 6M 29D TATA Dynamic Bond Fund Growth ₹34.9217
↑ 0.00 ₹146 2.6 3.8 5.3 6.6 5.88% 1Y 5M 16D 1Y 9M 7D ICICI Prudential Long Term Plan Growth ₹30.8447
↑ 0.03 ₹6,755 1.6 3.4 5.9 6.3 4.5 8.19% 2Y 1M 10D 5Y 10M 24D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Aug 22
Best Equity Mutual Funds with Highest Returns 2023
Equity funds mainly invests in stocks or shares of the companies. Buying an equity fund is one of the best ways to own a business (in a small proportion) without starting a company directly. Since, these funds invest in stocks, they are volatile in nature. But, they have great potential to deliver high returns in the long-run. There are various types of equity funds such as Large cap funds, mid-cap & Small cap funds, Diversified Funds, sector funds, etc. Investors who are planning to invest in equities should have a high-risk appetite and should stay invested for a longer duration, ideally up to 5-10 years & more. Following are the Best Equity Mutual Funds with highest returns.
Top 5 Large Cap Funds with 5 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) Canara Robeco Bluechip Equity Fund Growth ₹40.04
↑ 0.30 ₹8,673 -5 0.9 -0.7 23 12.7 0.8 ICICI Prudential Bluechip Fund Growth ₹66.51
↑ 0.41 ₹34,199 -5 3.2 2.1 28 11.5 6.9 Nippon India Large Cap Fund Growth ₹53.1709
↑ 0.48 ₹12,525 -3.8 2.7 5.7 30.3 11.4 11.3 BNP Paribas Large Cap Fund Growth ₹138.679
↑ 1.11 ₹1,347 -4.6 2.2 1.2 22.2 11.3 4.2 HDFC Top 100 Fund Growth ₹726.202
↑ 5.25 ₹22,139 -4 5 5.3 28.7 11.1 10.6 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Mid & Small Cap Funds with 5 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) PGIM India Midcap Opportunities Fund Growth ₹41.2
↑ 0.45 ₹7,708 -5.6 -6.3 -1.6 42.2 16.6 -1.7 Baroda Pioneer Mid-Cap Fund Growth ₹16.5124
↑ 0.15 ₹97 -8.1 0.1 26.2 22.5 15.9 Nippon India Small Cap Fund Growth ₹89.6879
↑ 1.31 ₹23,910 -3 0.8 7.3 49.2 15.7 6.5 Kotak Small Cap Fund Growth ₹155.249
↑ 1.72 ₹8,618 -5 -5.8 -3.7 43.3 14.7 -3.1 Motilal Oswal Midcap 30 Fund Growth ₹49.0597
↑ 0.81 ₹3,769 -2.5 -3.1 10.7 36.2 14.4 10.7 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Diversified Funds or Multi Cap Funds with 5 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) Parag Parikh Long Term Equity Fund Growth ₹48.8604
↑ 0.11 ₹29,953 2.4 4.9 -0.8 32.5 16.9 -7.2 PGIM India Diversified Equity Fund Growth ₹24.26
↑ 0.23 ₹5,199 -4.8 -0.9 -4.7 32.8 13.6 -6.4 BNP Paribas Multi Cap Fund Growth ₹73.5154
↓ -0.01 ₹588 -4.6 -2.6 19.3 17.3 13.6 Mahindra Badhat Yojana Growth ₹19.7967
↑ 0.28 ₹1,515 -5.4 -1.6 -2.9 31.2 13.6 1.6 HDFC Equity Fund Growth ₹1,106.09
↑ 10.29 ₹31,673 -4.5 5 10.1 34.8 13.3 18.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Sector Funds with 5 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) ICICI Prudential Technology Fund Growth ₹129.22
↑ 0.97 ₹8,993 -3.5 2.1 -20.3 40.8 20.6 -23.2 TATA Digital India Fund Growth ₹30.7202
↑ 0.23 ₹6,766 -2.1 2.8 -19.5 35.2 20.4 -23.3 SBI Technology Opportunities Fund Growth ₹136.309
↑ 0.77 ₹2,862 -1.6 6.2 -12.2 34.5 19.8 -15.5 Aditya Birla Sun Life Digital India Fund Growth ₹114.43
↑ 0.96 ₹3,338 -2.2 2.9 -17.1 37.3 19.5 -21.6 Franklin India Technology Fund Growth ₹283.891
↓ -1.89 ₹712 1.4 4.5 -14.6 26.7 15.1 -22.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Best Hybrid Mutual Funds with Highest Returns 2023
Hybrid Funds, also known as Balanced Fund in a combination of both debt and equity. A debt hybrid fund may have a larger portion of the investment in debt securities, and an equity hybrid would have a large portion of equity instruments. Balanced funds allow investors to not only enjoy the Capital growth, but also get Fixed Income at regular intervals.
Top 5 Hybrid Debt Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) BOI AXA Conservative Hybrid Fund Growth ₹27.8696
↑ 0.08 ₹63 -0.4 2.1 21.1 14.6 5.8 21.5 Aditya Birla Sun Life Regular Savings Fund Growth ₹52.4624
↑ 0.15 ₹1,585 -0.8 1.6 2.3 13.3 6.5 5.3 SBI Debt Hybrid Fund Growth ₹55.861
↑ 0.15 ₹7,250 -0.2 2.2 5.3 12.9 8 4.5 Kotak Debt Hybrid Fund Growth ₹44.5451
↑ 0.14 ₹1,651 -0.4 2.2 4.1 12.8 8.4 4.3 HDFC Hybrid Debt Fund Growth ₹63.0973
↑ 0.24 ₹2,696 0.2 4.1 5.6 12.6 7.9 6 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Top 5 Hybrid Equity Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) ICICI Prudential Equity and Debt Fund Growth ₹236.1
↑ 1.56 ₹21,233 -2.5 4 4.5 30.9 13.6 11.7 BOI AXA Mid and Small Cap Equity and Debt Fund Growth ₹22.15
↑ 0.33 ₹380 -4 -0.1 -0.5 29.8 9.5 -4.8 JM Equity Hybrid Fund Growth ₹70.4583
↑ 0.54 ₹12 -3.2 4.8 5.6 28.5 9.9 8.1 Kotak Equity Hybrid Fund Growth ₹40.527
↑ 0.31 ₹3,269 -3.5 0.6 2.4 25.6 11.1 5 UTI Hybrid Equity Fund Growth ₹252.939
↓ -0.60 ₹4,287 -3.5 1.8 3.3 25.6 8.9 5.6 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
Best Gold Funds with 3 Year Highest Returns 2023
Investors who want to take exposure to gold via Mutual Funds can prefer Investing in Gold funds. The Gold mutual funds invest in Gold ETFs (exchange-traded funds). Unlike physical gold, they are easy to purchase and redeem. Following are the gold funds with the highest returns in last 3 years.
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) Invesco India Gold Fund Growth ₹17.4453
↑ 0.18 ₹60 8.8 18.1 14.5 10.3 12.7 12.8 Axis Gold Fund Growth ₹18.0003
↑ 0.18 ₹291 9 18.4 15.5 10.1 13.4 12.5 ICICI Prudential Regular Gold Savings Fund Growth ₹18.8755
↓ 0.00 ₹672 7.7 18.3 13.1 9.9 12.4 12.7 Nippon India Gold Savings Fund Growth ₹23.5927
↑ 0.13 ₹1,447 8.7 18 14.3 9.5 12.6 12.3 Kotak Gold Fund Growth ₹23.6948
↑ 0.11 ₹1,407 7.6 18.5 12.7 9.4 13 11.7 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 23
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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