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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 ₹2,817.49
↑ 0.55 ₹1,634 0.6 1.8 3.7 7.4 7 7.17% 1M 17D 1M 17D Axis Liquid Fund Growth ₹2,724.63
↑ 0.50 ₹23,260 0.6 1.7 3.7 7.3 7.1 7.3% 2M 2D 2M 2D LIC MF Liquid Fund Growth ₹4,427.93
↑ 0.81 ₹10,527 0.6 1.8 3.7 7.3 7 8.05% 2M 2M Canara Robeco Liquid Growth ₹2,945.91
↑ 0.54 ₹3,945 0.6 1.7 3.7 7.3 7 7.24% 1M 26D 2M 1D Mahindra Liquid Fund Growth ₹1,593.1
↑ 0.31 ₹1,313 0.6 1.7 3.7 7.3 7.1 7.32% 1M 28D 1M 27D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹510.36
↑ 0.11 ₹14,888 1.8 3.9 7.4 6 7.2 7.89% 5M 16D 6M 7D ICICI Prudential Ultra Short Term Fund Growth ₹25.8888
↑ 0.01 ₹13,873 1.7 3.8 7.2 5.8 6.9 7.72% 5M 12D 5M 26D SBI Magnum Ultra Short Duration Fund Growth ₹5,585.94
↑ 0.99 ₹12,915 1.8 3.7 7.2 5.7 7 7.54% 5M 12D 5M 26D Invesco India Ultra Short Term Fund Growth ₹2,523.23
↑ 0.52 ₹692 1.7 3.9 7.2 5.5 6.6 7.55% 5M 16D 5M 22D 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 0.7 9 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 ₹29.3997
↑ 0.02 ₹2,572 1.9 3.9 7.1 7.2 6.9 7.36% 2Y 8M 26D 2Y 9M 4D 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 ₹55.7025
↑ 0.02 ₹18,396 2 3.9 7.4 6.1 7.4 7.94% 2Y 2M 26D 4Y 3M 4D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹94.7961
↑ 0.03 ₹6,341 2.4 4 7.7 6.5 8.3 7.23% 3Y 11M 26D 7Y 4M 13D SBI Magnum Gilt Fund Growth ₹61.4997
↑ 0.04 ₹8,825 3.3 5 8 6.4 7.6 7.2% 8Y 8M 1D 19Y 2M 1D DSP BlackRock Government Securities Fund Growth ₹89.3913
↑ 0.04 ₹1,064 3.8 5.9 9 6.2 7.1 7.23% 11Y 4M 13D 29Y 11M 26D Edelweiss Government Securities Fund Growth ₹22.9578
↑ 0.01 ₹157 3.2 5.6 8.5 5.8 6.2 7.16% 8Y 7M 17D 15Y 10M 11D Axis Gilt Fund Growth ₹23.679
↑ 0.01 ₹406 3.4 5.6 8.8 5.8 7.1 7.22% 8Y 3M 18D 16Y 5M 19D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹28.7062
↑ 0.02 ₹480 2.6 4.5 7.1 10.6 6.2 6.94% 5Y 10M 20D 7Y 29D Aditya Birla Sun Life Dynamic Bond Fund Growth ₹42.7103
↑ 0.02 ₹1,710 3 4.6 7.4 6.7 6.9 7.22% 7Y 6M 11D 13Y 14D 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 ₹34.0951
↑ 0.01 ₹12,633 2.3 4 7.5 6.2 7.6 7.92% 3Y 6M 7D 5Y 10M 2D 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 (%) Nippon India Large Cap Fund Growth ₹87.4928
↑ 0.19 ₹29,534 10 21.2 36.6 24.9 20.7 32.1 ICICI Prudential Bluechip Fund Growth ₹105.73
↑ 0.28 ₹59,364 9.7 18.2 37 21.5 20.5 27.4 BNP Paribas Large Cap Fund Growth ₹222.23
↑ 0.76 ₹2,120 10.9 22.1 40.1 19.9 20.2 24.8 JM Large Cap Fund Growth ₹162.702
↑ 0.22 ₹234 11.8 20.1 45.1 21.9 19.9 29.6 Canara Robeco Bluechip Equity Fund Growth ₹60.3
↓ -0.03 ₹13,933 10.7 17.7 30.4 16.1 19.8 22.2 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹174.928
↑ 2.45 ₹56,469 15 25.1 52.1 31.2 36.2 48.9 Motilal Oswal Midcap 30 Fund Growth ₹98.3563
↑ 1.23 ₹12,628 19.9 33.1 68.1 38.5 33.9 41.7 Kotak Small Cap Fund Growth ₹272.134
↑ 3.90 ₹16,707 18.2 23.5 44.5 22.5 32.6 34.8 DSP BlackRock Small Cap Fund Growth ₹192.433
↑ 3.92 ₹15,244 14.2 19.5 39.6 24.2 30.7 41.2 Edelweiss Mid Cap Fund Growth ₹93.295
↑ 0.58 ₹6,625 16.7 26 57.3 25.6 30.6 38.4 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 (%) JM Multicap Fund Growth ₹105.172
↑ 0.87 ₹3,216 17.4 32.9 64.3 31.8 27.6 40 Mahindra Badhat Yojana Growth ₹34.7542
↑ 0.18 ₹3,670 12.1 20.3 45.4 23 26.7 34.2 Parag Parikh Long Term Equity Fund Growth ₹76.9601
↓ -0.49 ₹71,700 9.3 18.5 37.2 19.2 25.6 36.6 Nippon India Multi Cap Fund Growth ₹289.411
↑ 2.86 ₹34,943 11.9 25.8 45.4 30.8 24.8 38.1 Baroda Pioneer Multi Cap Fund Growth ₹279.058
↑ 1.94 ₹2,610 11.2 23.3 43.7 22.3 24.2 30.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 (%) Invesco India Infrastructure Fund Growth ₹66.18
↑ 0.40 ₹1,470 15.9 31.3 72.5 32.3 32 51.1 BOI AXA Manufacturing and Infrastructure Fund Growth ₹56.96
↑ 0.63 ₹405 12.4 26.3 60.9 29.5 31.6 44.7 Invesco India PSU Equity Fund Growth ₹67.77
↑ 0.29 ₹1,363 17 37.1 84.4 39.3 31.6 54.5 Nippon India Power and Infra Fund Growth ₹368.637
↑ 1.24 ₹6,694 14.6 32.1 72.1 37.6 30.6 58 IDFC Infrastructure Fund Growth ₹55.681
↑ 0.63 ₹1,592 20.6 42.7 82.5 34.2 30.6 50.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹32.9968
↑ 0.03 ₹73 2.5 5.6 12.6 13.7 12.5 10.9 HDFC Hybrid Debt Fund Growth ₹77.8894
↑ 0.06 ₹3,232 4.5 7.7 15.5 10.7 11 13.9 SBI Debt Hybrid Fund Growth ₹68.6613
↑ 0.16 ₹10,088 5.4 8.7 14.7 10.7 11.7 12.2 Kotak Debt Hybrid Fund Growth ₹55.204
↑ 0.05 ₹2,633 5 7.6 16.1 10.6 11.9 13.9 UTI Regular Savings Fund Growth ₹64.879
↑ 0.04 ₹1,617 5.8 8.7 14.8 10.4 9.9 11.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 (%) JM Equity Hybrid Fund Growth ₹124.756
↑ 0.94 ₹384 12.3 22.6 53.5 24.9 25.6 33.8 ICICI Prudential Equity and Debt Fund Growth ₹367.76
↑ 1.28 ₹37,037 7.5 17.2 37.2 24.4 22.3 28.2 BOI AXA Mid and Small Cap Equity and Debt Fund Growth ₹38.27
↑ 0.63 ₹841 11.5 21.1 50.3 20.5 28.2 33.7 UTI Hybrid Equity Fund Growth ₹389.969
↑ 1.35 ₹5,852 11.5 18.1 33 18.8 19 25.5 Kotak Equity Hybrid Fund Growth ₹59.941
↑ 0.23 ₹6,045 13.6 19.3 31.8 17.4 19.6 20.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 ₹19.0048
↓ -0.03 ₹55 -1 14.1 18.6 13.2 13.5 14.8 Aditya Birla Sun Life Gold Fund Growth ₹21.3577
↓ -0.53 ₹349 1.1 14.2 19.5 13.1 14.3 14.5 Axis Gold Fund Growth ₹21.1564
↓ -0.20 ₹501 -1.4 13 17.7 13 14.2 14.7 Invesco India Gold Fund Growth ₹20.5497
↓ -0.15 ₹75 -1.6 13.1 18.2 13 13.9 14.5 SBI Gold Fund Growth ₹21.1616
↓ -0.31 ₹1,885 -1.6 12.9 18 12.9 14.1 14.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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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