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Best Mutual Funds with Highest Returns 2024
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 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
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 2023 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity BOI AXA Liquid Fund Growth ₹2,768.23
↑ 0.51 ₹1,322 0.7 1.9 3.8 7.3 7 7.4% 1M 13D 1M 13D Axis Liquid Fund Growth ₹2,677.62
↑ 0.51 ₹22,169 0.7 1.9 3.7 7.3 7.1 7.41% 1M 13D 1M 14D Mahindra Liquid Fund Growth ₹1,565.42
↑ 0.27 ₹820 0.7 1.9 3.7 7.3 7.1 7.39% 1M 2D 1M 4D Canara Robeco Liquid Growth ₹2,894.87
↑ 0.51 ₹2,211 0.7 1.9 3.7 7.3 7 7.63% 2M 1D 2M 7D Invesco India Liquid Fund Growth ₹3,305.94
↑ 0.63 ₹8,130 0.7 1.9 3.7 7.3 7 7.39% 1M 15D 1M 15D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
Top 5 Ultra Short Term Funds with 1 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) 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 ₹501.391
↑ 0.06 ₹10,748 2.1 3.8 7.5 5.8 7.2 7.95% 5M 12D 6M 4D ICICI Prudential Ultra Short Term Fund Growth ₹25.445
↑ 0.01 ₹12,180 2 3.7 7.3 5.6 6.9 8.02% 4M 24D 5M 8D SBI Magnum Ultra Short Duration Fund Growth ₹5,488.45
↑ 1.09 ₹9,018 1.9 3.7 7.2 5.4 7 7.68% 4M 28D 5M 8D Invesco India Ultra Short Term Fund Growth ₹2,481.16
↑ 0.54 ₹614 2.1 3.8 7.2 5.1 6.6 7.74% 5M 12D 5M 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
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Franklin India Short Term Income Plan - Retail Plan Growth ₹5,149.41 ₹13 0 0 3.5 8.4 6.9 0% IDBI Short Term Bond Fund Growth ₹23.8418
↓ 0.00 ₹26 1.4 3.2 6.2 7.2 6.43% 3M 3M 14D UTI Short Term Income Fund Growth ₹28.84
↑ 0.02 ₹2,689 2 4 7.2 7 6.9 7.51% 2Y 5M 8D 3Y 8M 5D 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 ICICI Prudential Short Term Fund Growth ₹54.5793
↑ 0.04 ₹16,876 1.8 3.9 7.4 5.8 7.4 8.02% 2Y 7M 2D 4Y 9M 4D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
Top 5 Gilt Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Gilt Fund Growth ₹92.5253
↑ 0.18 ₹4,865 1.6 3.7 7.6 5.9 8.3 7.51% 4Y 11M 5D 9Y 6M 11D SBI Magnum Gilt Fund Growth ₹59.6084
↑ 0.09 ₹7,884 1.8 4.4 7 5.6 7.6 7.26% 8Y 15Y 5M 19D DSP BlackRock Government Securities Fund Growth ₹86.2204
↑ 0.15 ₹755 2.2 5.4 7.2 5.3 7.1 7.27% 10Y 1M 24D 22Y 9M 4D Edelweiss Government Securities Fund Growth ₹22.2643
↑ 0.03 ₹139 2.5 5.8 6.8 5.1 6.2 7.21% 8Y 9M 4D 15Y 11M 6D Aditya Birla Sun Life Government Securities Fund Growth ₹73.6291
↑ 0.14 ₹1,369 1.9 5.1 6.8 5 7.1 7.24% 8Y 5M 1D 15Y 11M 5D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
Top 5 Dynamic Funds with 3 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) 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 ₹28.0086
↑ 0.04 ₹383 2 4.4 6.5 9.9 6.2 6.93% 6Y 3M 25D 9Y 1M 20D 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 Aditya Birla Sun Life Dynamic Bond Fund Growth ₹41.4931
↑ 0.06 ₹1,732 1.6 4 6.4 6.2 6.9 7.46% 6Y 6M 7D 10Y 9M 18D HDFC Dynamic Debt Fund Growth ₹81.2624
↑ 0.12 ₹669 1.8 4.4 6.6 6.2 6.7 7.38% 6Y 3M 2D 11Y 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
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) BNP Paribas Large Cap Fund Growth ₹199.585
↑ 0.58 ₹1,863 11 25.4 40.6 20 18.1 24.8 ICICI Prudential Bluechip Fund Growth ₹96.09
↑ 0.20 ₹53,505 7.7 23.4 41.3 22.4 18 27.4 Nippon India Large Cap Fund Growth ₹79.3513
↑ 0.13 ₹24,378 10.2 23.6 44.6 26.3 17.7 32.1 Canara Robeco Bluechip Equity Fund Growth ₹54.31
↑ 0.05 ₹12,566 6.9 18.9 32.3 16.6 17.3 22.2 JM Large Cap Fund Growth ₹145.376
↑ 0.45 ₹119 9.4 26.8 46.1 21.2 17 29.6 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
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 (%) 2023 (%) Nippon India Small Cap Fund Growth ₹149.978
↑ 1.28 ₹45,749 8.8 25.2 59.6 35.7 30.3 48.9 Motilal Oswal Midcap 30 Fund Growth ₹82.2697
↑ 1.44 ₹8,987 13.5 34.1 63.7 37.8 26.8 41.7 Kotak Small Cap Fund Growth ₹228.974
↑ 0.90 ₹13,882 4.7 18.2 41.3 24.5 26.4 34.8 ICICI Prudential Smallcap Fund Growth ₹77.96
↑ 0.41 ₹7,173 4.6 17.8 45.2 29.7 25.7 37.9 SBI Small Cap Fund Growth ₹157.449
↑ 0.84 ₹25,435 10.3 19.8 40.9 25.3 25.1 25.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
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 (%) 2023 (%) Mahindra Badhat Yojana Growth ₹30.8361
↑ 0.15 ₹3,165 7.3 25.4 52.7 26.3 23.6 34.2 JM Multicap Fund Growth ₹89.1557
↑ 0.68 ₹1,774 14.6 32.2 63.3 29.4 23.4 40 Parag Parikh Long Term Equity Fund Growth ₹70.8782
↑ 0.48 ₹60,559 6.5 19.7 38.1 21.8 22.8 36.6 Nippon India Multi Cap Fund Growth ₹256.117
↑ 1.79 ₹27,746 12.4 25.4 55 32.6 21.2 38.1 Baroda Pioneer Multi Cap Fund Growth ₹249.376
↑ 1.32 ₹2,284 11.9 27.7 46.9 24.8 20.7 30.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
Top 5 Sector Funds with 5 Year Highest Returns
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) ICICI Prudential Infrastructure Fund Growth ₹170.64
↑ 0.87 ₹5,186 15.5 38.8 66.3 42.3 27.4 44.6 Invesco India PSU Equity Fund Growth ₹57.18
↑ 0.25 ₹859 18.6 50.8 85.6 39.2 27.4 54.5 Invesco India Infrastructure Fund Growth ₹56.43
↑ 0.40 ₹961 14.5 40.1 72.8 35.8 27.3 51.1 Nippon India Power and Infra Fund Growth ₹320.51
↑ 3.11 ₹4,529 15.2 41.2 80.6 39.7 26.7 58 BOI AXA Manufacturing and Infrastructure Fund Growth ₹50.13
↑ 0.30 ₹256 12.8 34 64.2 32.1 26.2 44.7 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 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
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) BOI AXA Conservative Hybrid Fund Growth ₹32.1756
↑ 0.04 ₹71 3.3 8.9 14.1 14.7 8.9 10.9 HDFC Hybrid Debt Fund Growth ₹74.4339
↑ 0.10 ₹3,103 3.2 9.3 16.3 11.4 10.4 13.9 Kotak Debt Hybrid Fund Growth ₹52.5192
↑ 0.11 ₹2,331 3 10 16.3 10.7 11.3 13.9 SBI Debt Hybrid Fund Growth ₹65.0593
↑ 0.23 ₹9,642 3.3 7.3 14.5 10.7 10.5 12.2 UTI Regular Savings Fund Growth ₹61.2903
↑ 0.12 ₹1,579 3.1 7.6 13.6 9.8 8.2 11.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
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 (%) 2023 (%) ICICI Prudential Equity and Debt Fund Growth ₹340.83
↑ 1.04 ₹33,502 9 22.2 41.4 26.6 20.5 28.2 BOI AXA Mid and Small Cap Equity and Debt Fund Growth ₹34.15
↑ 0.29 ₹665 9.3 25.7 48.9 24.9 21.6 33.7 JM Equity Hybrid Fund Growth ₹110.69
↑ 1.14 ₹223 10.2 27.8 54.4 24.6 19.1 33.8 UTI Hybrid Equity Fund Growth ₹348.673
↑ 0.88 ₹5,306 6.5 17.3 32.9 19.4 15.7 25.5 Nippon India Equity Hybrid Fund Growth ₹91.9564
↑ 0.13 ₹3,435 6.2 16.6 31.3 18.1 11.1 24.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 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.
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) IDBI Gold Fund Growth ₹19.1933
↓ -0.70 ₹49 15.4 18.4 17.5 13.9 16.4 14.8 Aditya Birla Sun Life Gold Fund Growth ₹21.5013
↓ -0.39 ₹316 15.2 17.9 18.8 13.3 16.4 14.5 SBI Gold Fund Growth ₹21.3952
↓ -0.39 ₹1,604 14.1 17.5 17.7 13.2 16.6 14.1 Axis Gold Fund Growth ₹21.3346
↓ -0.48 ₹410 13.9 16.8 17.4 13.2 16.6 14.7 HDFC Gold Fund Growth ₹21.9476
↓ -0.44 ₹1,811 14.7 17.3 17.6 13.2 16.5 14.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Apr 24
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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