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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 ₹2,840.33
↑ 0.50 ₹2,013 0.6 1.8 3.7 7.4 7 7.04% 1M 20D 1M 20D Axis Liquid Fund Growth ₹2,746.46
↑ 0.48 ₹27,339 0.6 1.7 3.7 7.4 7.1 7.07% 1M 8D 1M 8D LIC MF Liquid Fund Growth ₹4,464.28
↑ 0.77 ₹10,589 0.6 1.8 3.7 7.4 7 8.05% 2M 2M Canara Robeco Liquid Growth ₹2,970.08
↑ 0.52 ₹3,779 0.6 1.8 3.7 7.3 7 7% 1M 4D 1M 7D Mahindra Liquid Fund Growth ₹1,606
↑ 0.29 ₹1,516 0.6 1.8 3.7 7.3 7.1 7.14% 1M 17D 1M 16D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 ₹514.455
↑ 0.09 ₹14,454 1.8 3.8 7.4 6.1 7.2 7.69% 4M 20D 5M 16D SBI Magnum Ultra Short Duration Fund Growth ₹5,631.62
↑ 1.03 ₹13,220 1.8 3.7 7.3 5.8 7 7.45% 5M 8D 5M 19D ICICI Prudential Ultra Short Term Fund Growth ₹26.0887
↑ 0.00 ₹14,113 1.8 3.7 7.3 5.9 6.9 7.6% 5M 5D 5M 19D Invesco India Ultra Short Term Fund Growth ₹2,542.91
↑ 0.37 ₹704 1.7 3.5 7.2 5.6 6.6 7.46% 4M 27D 5M 4D 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 8.5 6.9 0% UTI Short Term Income Fund Growth ₹29.7023
↑ 0.00 ₹2,745 2.2 3.8 7.7 7.3 6.9 7.74% 2Y 6M 25D 3Y 3M 7D IDBI Short Term Bond Fund Growth ₹23.8418
↓ 0.00 ₹26 1.4 3.2 6.2 7.2 6.43% 3M 3M 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 ICICI Prudential Short Term Fund Growth ₹56.2523
↑ 0.01 ₹18,403 2.2 4 7.7 6.1 7.4 7.88% 2Y 1M 10D 4Y 1M 17D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 SBI Magnum Gilt Fund Growth ₹62.4032
↓ -0.01 ₹8,871 2.9 4.6 9.3 6.5 7.6 7.12% 8Y 11D 15Y 9M 29D DSP BlackRock Government Securities Fund Growth ₹90.6464
↑ 0.02 ₹1,081 3.4 4.6 9.9 6.2 7.1 7.23% 11Y 11M 8D 29Y 11M 26D ICICI Prudential Gilt Fund Growth ₹95.9616
↑ 0.02 ₹6,362 2.4 4.1 8.1 6.1 8.3 7.18% 4Y 6M 22D 8Y 3M 14D IDFC Government Securities Fund - Investment Plan Growth ₹33.6699
↑ 0.00 ₹2,543 3.7 4.8 11.2 5.9 6.8 7.17% 12Y 1M 6D 28Y 10M 28D Axis Gilt Fund Growth ₹24.0282
↑ 0.00 ₹436 3.2 5 10.3 5.8 7.1 7.15% 9Y 2M 19D 21Y 25D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 6 Sep 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 ₹29.0827
↑ 0.01 ₹451 2.6 4 8.2 10.8 6.2 7.02% 5Y 8M 5D 7Y 11M 26D Aditya Birla Sun Life Dynamic Bond Fund Growth ₹43.2984
↑ 0.01 ₹1,717 2.9 4.4 8.5 6.8 6.9 7.16% 8Y 1M 10D 14Y 5M 26D 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 ₹34.4924
↑ 0.01 ₹12,667 2.4 4.2 8.1 6.2 7.6 7.84% 3Y 11M 5D 6Y 6M 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 ₹89.7441
↑ 0.13 ₹31,801 11.2 15.2 37 22.5 23.3 32.1 ICICI Prudential Bluechip Fund Growth ₹109.78
↓ -0.20 ₹62,717 12.1 14.7 40.2 20 22.4 27.4 BNP Paribas Large Cap Fund Growth ₹230.009
↓ -0.25 ₹2,285 12.9 16.9 42.8 18.2 21.3 24.8 IDFC Large Cap Fund Growth ₹78.004
↑ 0.07 ₹1,575 13.3 18 40.9 16.3 20.9 26.8 Canara Robeco Bluechip Equity Fund Growth ₹61.85
↓ -0.72 ₹14,529 10 15 33.2 13.9 20.8 22.2 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 ₹181.148
↑ 0.86 ₹60,373 18.4 26.3 45.7 32.1 39.1 48.9 Motilal Oswal Midcap 30 Fund Growth ₹103.465
↑ 0.20 ₹14,446 21.5 34.4 60.6 37.3 34.6 41.7 Kotak Small Cap Fund Growth ₹280.271
↓ -1.61 ₹17,507 14.4 29.6 38.4 21.8 33.9 34.8 DSP BlackRock Small Cap Fund Growth ₹202.845
↑ 0.87 ₹16,085 23.4 24.5 37.7 26.2 33.2 41.2 L&T Emerging Businesses Fund Growth ₹88.4363
↑ 0.41 ₹16,905 16.9 24 41 29.1 32.8 46.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 ₹36.5258
↑ 0.06 ₹4,417 18.2 18.3 43.6 22.5 28.9 34.2 Nippon India Multi Cap Fund Growth ₹300.903
↑ 2.08 ₹37,151 12.8 23.4 42.5 29 28.1 38.1 JM Multicap Fund Growth ₹107.306
↓ -1.19 ₹3,855 13.2 23.8 57.5 28.2 28.1 40 Parag Parikh Long Term Equity Fund Growth ₹79.5937
↑ 0.02 ₹75,956 10.2 14.1 37.1 18.2 26.5 36.6 Baroda Pioneer Multi Cap Fund Growth ₹292.126
↑ 0.68 ₹2,690 13.9 21 45.4 21.4 26.1 30.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 ₹67.05
↓ -0.60 ₹1,653 7.9 24.4 63.8 31.3 33.5 51.1 ICICI Prudential Infrastructure Fund Growth ₹198.54
↑ 0.30 ₹6,063 13.8 19.9 58.1 37.6 33.5 44.6 IDFC Infrastructure Fund Growth ₹55.763
↑ 0.26 ₹1,934 16.1 28.7 71.2 32.8 33.3 50.3 Nippon India Power and Infra Fund Growth ₹369.493
↓ -0.33 ₹7,537 11.7 18.7 61 34.7 33.2 58 BOI AXA Manufacturing and Infrastructure Fund Growth ₹58.94
↓ -0.84 ₹463 12.4 23.7 54.3 29.3 33.1 44.7 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 6 Sep 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 ₹33.1965
↓ -0.12 ₹73 2.7 3.1 11.9 13.2 12.6 10.9 HDFC Hybrid Debt Fund Growth ₹79.2322
↓ -0.02 ₹3,317 5.1 6.8 16.2 10.8 11.6 13.9 Kotak Debt Hybrid Fund Growth ₹56.4784
↓ -0.19 ₹2,677 5 7.7 17.7 10.5 12.3 13.9 SBI Debt Hybrid Fund Growth ₹69.5103
↓ -0.13 ₹10,107 4.7 8.2 14.3 10.3 11.8 12.2 UTI Regular Savings Fund Growth ₹66.4636
↑ 0.10 ₹1,638 6.2 9.2 16.1 10 10.5 11.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 6 Sep 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 ₹379.77
↓ -0.10 ₹39,091 10.7 13 36.5 23.2 24.4 28.2 JM Equity Hybrid Fund Growth ₹128.565
↓ -1.24 ₹487 10.1 20.3 47.6 23.1 26.9 33.8 BOI AXA Mid and Small Cap Equity and Debt Fund Growth ₹39.09
↓ -0.40 ₹921 11.7 19.4 41.1 20 28.5 33.7 UTI Hybrid Equity Fund Growth ₹406.593
↑ 2.47 ₹6,064 13.3 18.2 35.2 18.6 20.8 25.5 Nippon India Equity Hybrid Fund Growth ₹103.468
↑ 0.04 ₹3,824 10.4 13.4 30.3 17 15.9 24.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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 (%) Axis Gold Fund Growth ₹21.4098
↑ 0.23 ₹500 -0.6 10.7 19.6 13.8 11.9 14.7 IDBI Gold Fund Growth ₹19.1086
↓ -0.03 ₹54 -1.2 11.3 20.6 13.8 11.6 14.8 ICICI Prudential Regular Gold Savings Fund Growth ₹22.6886
↑ 0.20 ₹999 -0.2 11.3 20.1 13.7 11.6 13.5 HDFC Gold Fund Growth ₹21.8821
↑ 0.26 ₹2,068 -0.5 11 19.6 13.6 11.6 14.1 SBI Gold Fund Growth ₹21.4421
↑ 0.03 ₹1,879 -1.4 11 20.1 13.6 12.3 14.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 5 Sep 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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