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Best Mutual Funds with Highest Returns 2024

Updated on May 15, 2024 , 14944 views

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.

Best-MF-Highest-returns

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 around 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 2024

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

FundNAVNet Assets (Cr)1 MO (%)3 MO (%)6 MO (%)1 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
BOI AXA Liquid Fund Growth ₹2,780.78
↑ 0.54
₹1,3220.51.83.77.377.4%1M 13D1M 13D
Axis Liquid Fund Growth ₹2,689.28
↑ 0.56
₹22,1690.51.93.77.37.17.41%1M 13D1M 14D
Canara Robeco Liquid Growth ₹2,908.53
↑ 0.57
₹2,2110.51.83.77.377.63%2M 1D2M 7D
Mahindra Liquid Fund Growth ₹1,572.48
↑ 0.30
₹8200.51.83.77.37.17.39%1M 2D1M 4D
Invesco India Liquid Fund Growth ₹3,320.19
↑ 0.67
₹8,1300.51.83.77.277.39%1M 15D1M 15D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 18 May 24

Top 5 Ultra Short Term Funds with 1 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
Franklin India Ultra Short Bond Fund - Super Institutional Plan Growth ₹34.9131
↑ 0.04
₹2971.35.913.78.8 0%1Y 15D
Aditya Birla Sun Life Savings Fund Growth ₹503.528
↑ 0.12
₹10,74823.87.45.87.27.95%5M 12D6M 4D
ICICI Prudential Ultra Short Term Fund Growth ₹25.5463
↑ 0.00
₹12,1801.93.77.25.66.98.02%4M 24D5M 8D
SBI Magnum Ultra Short Duration Fund Growth ₹5,511.26
↑ 1.05
₹9,0181.93.67.15.577.68%4M 28D5M 8D
Invesco India Ultra Short Term Fund Growth ₹2,491.06
↑ 0.43
₹61423.87.15.26.67.74%5M 12D5M 24D
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

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
Franklin India Short Term Income Plan - Retail Plan Growth ₹5,149.41
₹13002.686.90%
IDBI Short Term Bond Fund Growth ₹23.8418
↓ 0.00
₹261.43.26.27.2 6.43%3M3M 14D
UTI Short Term Income Fund Growth ₹28.9909
↓ 0.00
₹2,6891.73.86.876.97.51%2Y 5M 8D3Y 8M 5D
BNP Paribas Short Term Fund Growth ₹25.4771
↓ -0.01
₹2580.61.34.66.5 5.16%1Y 11M 26D2Y 3M
ICICI Prudential Short Term Fund Growth ₹54.8845
↓ -0.01
₹16,8761.93.67.25.87.48.02%2Y 7M 2D4Y 9M 4D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Gilt Funds with 3 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
ICICI Prudential Gilt Fund Growth ₹93.3449
↓ -0.08
₹4,8651.83.77.468.37.51%4Y 11M 5D9Y 6M 11D
SBI Magnum Gilt Fund Growth ₹60.2862
↓ -0.06
₹7,8841.74.36.65.97.67.26%8Y 15Y 5M 19D
DSP BlackRock Government Securities Fund Growth ₹87.2736
↓ -0.11
₹7551.25.17.25.57.17.27%10Y 1M 24D22Y 9M 4D
Aditya Birla Sun Life Government Securities Fund Growth ₹74.4464
↓ -0.08
₹1,3691.44.875.27.17.24%8Y 5M 1D15Y 11M 5D
Edelweiss Government Securities Fund Growth ₹22.5074
↓ -0.03
₹1391.55.36.95.16.27.21%8Y 9M 4D15Y 11M 6D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Dynamic Funds with 3 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
Franklin India Dynamic Accrual Fund Growth ₹94.788
↑ 0.84
₹992.422.431.911.7 0%3M 18D
UTI Dynamic Bond Fund Growth ₹28.2484
↓ -0.02
₹3831.64.26.410.16.26.93%6Y 3M 25D9Y 1M 20D
TATA Dynamic Bond Fund Growth ₹34.9217
↑ 0.00
₹1462.63.85.36.6 5.88%1Y 5M 16D1Y 9M 7D
Aditya Birla Sun Life Dynamic Bond Fund Growth ₹41.8829
↓ -0.04
₹1,7321.53.96.46.36.97.46%6Y 6M 7D10Y 9M 18D
HDFC Dynamic Debt Fund Growth ₹81.9423
↓ -0.08
₹6691.74.26.66.26.77.38%6Y 3M 2D11Y 2M 10D
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 2024

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

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
ICICI Prudential Bluechip Fund Growth ₹98
↑ 0.35
₹53,5054.521.339.421.318.827.4
Nippon India Large Cap Fund Growth ₹80.7185
↑ 0.36
₹24,3786.422.339.524.718.832.1
BNP Paribas Large Cap Fund Growth ₹204.702
↑ 0.40
₹1,8636.424.339.419.518.724.8
Canara Robeco Bluechip Equity Fund Growth ₹55.26
↑ 0.27
₹12,5665.117.829.115.817.922.2
JM Large Cap Fund Growth ₹150.24
↑ 1.48
₹1194.926.546.121.517.829.6
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Mid & Small Cap Funds with 5 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
Nippon India Small Cap Fund Growth ₹157.876
↑ 1.84
₹45,74910.323.758.734.832.748.9
Kotak Small Cap Fund Growth ₹241.477
↑ 3.17
₹13,8828.918.842.124.129.234.8
Motilal Oswal Midcap 30 Fund  Growth ₹83.8015
↑ 0.41
₹8,9871026.557.536.927.941.7
ICICI Prudential Smallcap Fund Growth ₹81.61
↑ 1.08
₹7,1736.118.144.228.627.737.9
L&T Emerging Businesses Fund Growth ₹77.228
↑ 0.96
₹13,4017.117.950.432.127.346.1
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Diversified Funds or Multi Cap Funds with 5 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
JM Multicap Fund Growth ₹95.0802
↑ 1.32
₹1,77410.933.866.130.62540
Mahindra Badhat Yojana Growth ₹31.7268
↑ 0.41
₹3,1653.121.15024.624.634.2
Parag Parikh Long Term Equity Fund Growth ₹71.9908
↑ 0.12
₹60,5593.917.336.321.82436.6
Nippon India Multi Cap Fund Growth ₹268.672
↑ 2.77
₹27,74611.926.35332.623.138.1
Baroda Pioneer Multi Cap Fund Growth ₹260.816
↑ 1.57
₹2,2849.124.646.524.622.430.8
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Sector Funds with 5 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
Invesco India Infrastructure Fund Growth ₹61.49
↑ 1.06
₹96115.742.377.336.530.851.1
Invesco India PSU Equity Fund Growth ₹62.08
↑ 1.21
₹85910.952.691.738.729.954.5
Nippon India Power and Infra Fund Growth ₹342.172
↑ 7.46
₹4,52913.741.380.739.629.358
ICICI Prudential Infrastructure Fund Growth ₹178.53
↑ 1.69
₹5,1861137.967.739.929.344.6
DSP BlackRock India T.I.G.E.R Fund Growth ₹311.65
↑ 5.03
₹3,36420.24480.13928.849
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Best Hybrid Mutual Funds with Highest Returns 2024

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

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
BOI AXA Conservative Hybrid Fund Growth ₹32.3706
↑ 0.02
₹711.67.41314.49.510.9
HDFC Hybrid Debt Fund Growth ₹75.3177
↑ 0.07
₹3,1032.28.715.410.910.713.9
SBI Debt Hybrid Fund Growth ₹65.9281
↑ 0.10
₹9,64237.313.910.71112.2
Kotak Debt Hybrid Fund Growth ₹53.2368
↑ 0.07
₹2,3311.7915.610.511.613.9
UTI Regular Savings Fund Growth ₹62.0579
↑ 0.11
₹1,5792.67.113108.611.3
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Top 5 Hybrid Equity Funds with 3 Year Highest Returns

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
JM Equity Hybrid Fund Growth ₹115.941
↑ 1.37
₹2239.126.75824.120.433.8
ICICI Prudential Equity and Debt Fund Growth ₹345.07
↑ 0.98
₹33,5024.92038.724.121.328.2
BOI AXA Mid and Small Cap Equity and Debt Fund Growth ₹34.97
↑ 0.42
₹6657.318.749.323.923.533.7
UTI Hybrid Equity Fund Growth ₹355.848
↑ 2.45
₹5,3064.915.931.218.316.825.5
Nippon India Equity Hybrid Fund Growth ₹93.8176
↑ 0.35
₹3,4354.515.530.217.312.824.1
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Best Gold Funds with 3 Year Highest Returns 2024

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.

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2023 (%)
IDBI Gold Fund Growth ₹19.5584
↓ -0.05
₹4918.32019.714.216.514.8
Aditya Birla Sun Life Gold Fund Growth ₹21.8198
↑ 0.22
₹31617.920.11913.916.314.5
Axis Gold Fund Growth ₹21.9313
↑ 0.02
₹4101819.319.813.916.814.7
SBI Gold Fund Growth ₹21.9049
↓ -0.08
₹1,60418.119.619.713.816.814.1
ICICI Prudential Regular Gold Savings Fund Growth ₹23.2189
↓ -0.12
₹85118.119.819.813.816.413.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 24

Disclaimer:
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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