Section 1 ยท Active vs Index
What exactly is an "active" fund โ and should you care?
Think of two kinds of chefs. One follows a fixed recipe exactly (index fund). The other improvises based on skill (active fund). The second can be brilliant โ or wrong. The extra fee is for that expertise.
๐ง
Active Fund
โ
A fund manager handpicks stocks using research and judgment
โ
Goal: beat the market and earn you more than a plain index
โ ๏ธCharges higher fees (1โ2% per year, called expense ratio)
โ ๏ธOnly worth it when the manager consistently beats the index โ many can't
๐
Index Fund
โ
Automatically copies a market index like Nifty 50 โ no judgment calls
โ
Very low fees (0.1โ0.2% per year)
โ
Predictable: you get roughly what the market gives
๐กNo chance of beating the market, but no risk of badly lagging it either
๐ 3 numbers we use to spot real skill vs a lucky streak
๐ฏ
Alpha
Extra return above the market
If the market gave 12% and your fund gave 15%, alpha is +3%. Positive = manager added value. Negative = they didn't.
๐
Information Ratio (IR)
How consistent is that extra return?
Anyone can beat the market once. IR above 0.5 means they do it reliably, year after year. Think of it as the 'reliability score' for alpha.
๐
Beat Rate
% of funds in a group beating the index
If 70% of funds in a category beat their benchmark, it's worth exploring. Below 40%? Just buy the index and save on fees.
โ ๏ธ
The honest truth about active funds
Industry-wide, only about 57.9% of active funds beat their benchmark over 3 years. That means randomly picking an active fund gives you a better-than-even chance of doing worse than a simple index. But in certain categories the odds are much better โ that's exactly what Section 2 shows you.
Section 2 ยท Where Active Wins
Which categories are worth paying extra for?
In some categories, active managers consistently earn their fees. In others, a low-cost index beats most of them. Here's the honest, data-driven split.
โ
Active earns its fees here
High alpha + majority of funds beating the market
Equity
573 funds
+1.09%
Alpha
62.8%
Beat rate
Hybrid
183 funds
+1.58%
Alpha
68.0%
Beat rate
Solution Oriented
42 funds
+1.56%
Alpha
63.9%
Beat rate
๐
Index fund likely better here
Most active funds fail to beat the market in these
Other
Consider a low-cost index fund instead
-0.14%
Alpha
17.0%
Beat rate
How often do active funds beat their benchmark โ by category?
Each bar shows % of funds in that category beating their index over 3 years. The line at 50% is break-even โ above it, active generally pays off.
Debt72.6% beat index ยท Alpha: +0.33%
Hybrid68.0% beat index ยท Alpha: +1.58%
Solution Oriented63.9% beat index ยท Alpha: +1.56%
Equity62.8% beat index ยท Alpha: +1.09%
Other17.0% beat index ยท Alpha: -0.14%
Above 55% โ Active likely worth it
40โ55% โ Mixed results
Below 40% โ Index likely better
Top 6 categories โ extra return delivered vs % beating benchmark
Green bar = extra return above market (alpha). Blue bar = how many funds in that group actually beat their index.
HybridAlpha +1.58% ยท Beat rate 68.0%
Solution OrientedAlpha +1.56% ยท Beat rate 63.9%
EquityAlpha +1.09% ยท Beat rate 62.8%
DebtAlpha +0.33% ยท Beat rate 72.6%
OtherAlpha -0.14% ยท Beat rate 17.0%
Alpha (extra return)
Beat rate
Negative alpha
Section 3 ยท Category Scoreboard
Average fund return vs benchmark โ across all time periods
Average fund return vs benchmark across all time periods. Sort any column to find what matters to you.
๐
Highest beat rate category
Debt
72.6% beat their benchmark
๐ฏ
Best risk-adjusted category
Equity
Avg IR 3Y: 0.18
๐
Top 1Y sub-category
FoFs (Overseas)
Avg return: 31.3%
๐
Top 3Y sub-category
FoFs (Overseas)
Avg return: 21.8%
๐ฑ
Top 5Y sub-category
Small Cap
Avg return: 19.0%
Section 4 ยท Top Fund Picks
Highest-ranked funds โ by skill, not just returns
Top 2 funds per major sub-category by composite skill score. Use as a starting shortlist, not a final buy decision.
๐ก Pick a fund from your target sub-category, then check its expense ratio and 5-year track record before investing.
Other
Index / ETF
AUM: โน15L Cr
No qualifying funds (AUM < โน50 Cr)
Debt
Liquid
AUM: โน7.3L Cr
๐ฅ Top pick
Edelweiss Liquid Fund
AUM (Cr)
14,581
Score
99.10
Alpha 3Y
+0.21%
IR 3Y
โ
DSP Liquidity Fund
AUM (Cr)
27,190
Score
98.14
Alpha 3Y
+0.18%
IR 3Y
โ
Equity
Flexi Cap
AUM: โน5.8L Cr
๐ฅ Top pick
Bank of India Flexi Cap Fund
AUM (Cr)
2,583
Score
0.98
Alpha 3Y
+9.25%
IR 3Y
1.20
HDFC Flexi Cap Fund
AUM (Cr)
1,06,062
Score
0.90
Alpha 3Y
+4.37%
IR 3Y
0.77
Equity
Sectoral / Thematic
AUM: โน5.4L Cr
๐ฅ Top pick
Franklin India Opportunities Fund
AUM (Cr)
9,052
Score
0.93
Alpha 3Y
+10.57%
IR 3Y
1.63
Quant ESG Integration Strategy Fund
AUM (Cr)
304
Score
0.90
Alpha 3Y
+8.89%
IR 3Y
0.93
Equity
Mid Cap
AUM: โน5L Cr
๐ฅ Top pick
Nippon India Growth Mid Cap Fund
AUM (Cr)
49,109
Score
0.88
Alpha 3Y
+2.88%
IR 3Y
0.71
HSBC Mid Cap Fund
AUM (Cr)
14,764
Score
0.87
Alpha 3Y
+6.67%
IR 3Y
1.01
Equity
Small Cap
AUM: โน4.2L Cr
๐ฅ Top pick
Bandhan Small Cap Fund
AUM (Cr)
27,719
Score
1.00
Alpha 3Y
+11.17%
IR 3Y
2.13
Invesco India Smallcap Fund
AUM (Cr)
12,820
Score
0.81
Alpha 3Y
+6.68%
IR 3Y
0.96
Data as of 18-Jun-2026. Top 2 per sub-category by composite score, min AUM โน50 Cr.
Section 5 ยท Fund Screener
Search & filter every active fund
Filter by category, alpha, IR, and AUM. Click any column header to sort. Click a row for the full fund snapshot.
1363 funds matchedData as of 18-Jun-2026
Aditya Birla Sun Life Medium Term Plan
ยท Medium Duration
Top 10%
Score
105.00
Alpha 3Y
+3.46%
IR 3Y
โ
3Y Fd/Idx
10.5/7.0
5Y Fd/Idx
12.7/5.8
AUM (Cr)
3,179
Nippon India Ultra Short Duration Fund
ยท Ultra Short Duration
Top 10%
Score
105.00
Alpha 3Y
+0.42%
IR 3Y
โ
3Y Fd/Idx
7.6/7.1
5Y Fd/Idx
7.4/6.4
AUM (Cr)
10,586
360 ONE Balanced Hybrid Fund
ยท Balanced Hybrid
Top 10%
Score
105.00
Alpha 3Y
โ
IR 3Y
โ
3Y Fd/Idx
โ
5Y Fd/Idx
โ
AUM (Cr)
743
Tata Money Market Fund
ยท Money Market
Top 10%
Score
103.55
Alpha 3Y
+0.57%
IR 3Y
โ
3Y Fd/Idx
7.5/6.9
5Y Fd/Idx
6.7/6.3
AUM (Cr)
31,812
Bandhan Gilt Fund
ยท Gilt
Top 10%
Score
101.30
Alpha 3Y
+0.86%
IR 3Y
โ
3Y Fd/Idx
7.8/6.9
5Y Fd/Idx
6.5/6.0
AUM (Cr)
1,853
Baroda BNP Paribas Balanced Advantage Fund
ยท Balanced Advantage
Top 10%
Score
101.11
Alpha 3Y
+5.84%
IR 3Y
โ
3Y Fd/Idx
14.1/8.2
5Y Fd/Idx
12.9/8.1
AUM (Cr)
4,984
Bandhan Long Duration Fund
ยท Long Duration
Top 10%
Score
100.00
Alpha 3Y
โ
IR 3Y
โ
3Y Fd/Idx
โ
5Y Fd/Idx
โ
AUM (Cr)
55
ICICI Prudential Short Term Fund
ยท Short Duration
Top 10%
Score
100.00
Alpha 3Y
+1.09%
IR 3Y
โ
3Y Fd/Idx
8.0/6.9
5Y Fd/Idx
7.2/5.9
AUM (Cr)
19,072
Franklin India Low Duration Fund
ยท Low Duration
Top 10%
Score
100.00
Alpha 3Y
โ
IR 3Y
โ
3Y Fd/Idx
โ
5Y Fd/Idx
โ
AUM (Cr)
428
Bank of India Overnight Fund
ยท Overnight
Top 10%
Score
100.00
Alpha 3Y
+0.13%
IR 3Y
โ
3Y Fd/Idx
6.3/6.2
5Y Fd/Idx
5.7/5.6
AUM (Cr)
131
Axis Floater Fund
ยท Floater
Top 10%
Score
100.00
Alpha 3Y
+1.62%
IR 3Y
โ
3Y Fd/Idx
8.2/6.6
5Y Fd/Idx
โ
AUM (Cr)
145
HSBC Equity Savings Fund
ยท Equity Savings
Top 10%
Score
100.00
Alpha 3Y
+5.57%
IR 3Y
โ
3Y Fd/Idx
14.1/8.5
5Y Fd/Idx
12.1/8.0
AUM (Cr)
1,089
Quant Arbitrage Fund
ยท Arbitrage
Top 10%
Score
100.00
Alpha 3Y
โ
IR 3Y
โ
3Y Fd/Idx
โ
5Y Fd/Idx
โ
AUM (Cr)
512
Quant Multi Asset Allocation Fund
ยท Multi Asset Allocation
Top 10%
Score
100.00
Alpha 3Y
+10.33%
IR 3Y
โ
3Y Fd/Idx
25.1/14.8
5Y Fd/Idx
21.5/13.0
AUM (Cr)
5,894
HDFC FMP 2638D February 2023 (47)
ยท FMP
Top 10%
Score
100.00
Alpha 3Y
+2.56%
IR 3Y
โ
3Y Fd/Idx
7.8/5.2
5Y Fd/Idx
โ
AUM (Cr)
169
ICICI Prudential Banking & PSU Debt Fund
ยท Banking & PSU
Top 10%
Score
99.53
Alpha 3Y
+0.73%
IR 3Y
โ
3Y Fd/Idx
7.5/6.8
5Y Fd/Idx
6.8/5.7
AUM (Cr)
8,695
Edelweiss Liquid Fund
ยท Liquid
Top 10%
Score
99.10
Alpha 3Y
+0.21%
IR 3Y
โ
3Y Fd/Idx
7.0/6.8
5Y Fd/Idx
6.2/6.1
AUM (Cr)
14,581
Quant Aggressive Hybrid Fund
ยท Aggressive Hybrid
Top 10%
Score
98.81
Alpha 3Y
+7.29%
IR 3Y
โ
3Y Fd/Idx
16.1/8.8
5Y Fd/Idx
15.3/8.8
AUM (Cr)
2,119
HDFC FMP 1861D Macrh 2022 (46)
ยท FMP
Top 10%
Score
98.18
Alpha 3Y
+1.69%
IR 3Y
โ
3Y Fd/Idx
7.5/5.8
5Y Fd/Idx
โ
AUM (Cr)
503
ICICI Prudential Corporate Bond Fund
ยท Corporate Bond
Top 10%
Score
98.15
Alpha 3Y
+1.00%
IR 3Y
โ
3Y Fd/Idx
7.7/6.7
5Y Fd/Idx
6.8/5.8
AUM (Cr)
30,565
Page 1 of 69 ยท 1363 funds
Important Disclaimer: This data is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future returns. All data sourced from AMFI, updated daily. Read all scheme-related documents and consult a SEBI-registered advisor before investing.
