Highest Sharpe Ratio Mutual Funds
Updated June 2026 · 25 active funds · data from AMFI NAVs
The Sharpe ratio measures return earned per unit of risk (volatility), so this list rewards funds that delivered smoother, more efficient returns rather than the highest raw number. It is computed from month-end AMFI NAVs against a 7% risk-free rate. A higher Sharpe is generally better, but the ratio depends on the period measured and says nothing about whether a fund fits your goals. Compare across categories with care - a debt fund and a small-cap fund are not interchangeable just because their Sharpe ratios are similar.
| # | Scheme | 1Y | 3Y | 5Y | Sharpe | Max DD | TER | AUM |
|---|---|---|---|---|---|---|---|---|
| 1 | DSP Silver ETF Fund of Fund DSP | +114.04% | - | - | 2.05 | -45.4% | 0.59% | ₹818 Cr |
| 2 | Groww Gold ETF FOF Groww | +46.64% | - | - | 1.98 | -24.9% | 0.15% | ₹104 Cr |
| 3 | Union Gold ETF Fund of Fund Union | +45.83% | - | - | 1.98 | -24.6% | 0.29% | ₹159 Cr |
| 4 | Zerodha Gold ETF FoF Zerodha | +47.78% | - | - | 1.96 | -24.3% | 0.23% | ₹292 Cr |
| 5 | Groww Silver ETF FOF Groww | +109.48% | - | - | 1.90 | -43.6% | - | ₹95 Cr |
| 6 | Mirae Asset Gold ETF Fund of Fund Mirae Asset | +47.59% | - | - | 1.83 | -23.8% | 0.10% | ₹436 Cr |
| 7 | Union Gold ETF Union | +48.71% | - | - | 1.82 | -22.2% | 0.29% | ₹259 Cr |
| 8 | WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital | +11.07% | +16.39% | - | 1.74 | -6.1% | 0.42% | ₹6.3K Cr |
| 9 | 360 ONE Silver ETF 360 ONE | +116.32% | - | - | 1.72 | -44.2% | - | ₹52 Cr |
| 10 | DSP Gold ETF Fund of Fund DSP | +48.19% | - | - | 1.70 | -25.2% | 0.63% | ₹481 Cr |
| 11 | 360 ONE Gold ETF 360 ONE | +48.30% | - | - | 1.69 | -22.0% | - | ₹138 Cr |
| 12 | Tata Gold ETF Fund of Fund Tata | +46.17% | - | - | 1.69 | -24.3% | 0.28% | ₹1.2K Cr |
| 13 | UTI Gold ETF Fund of Fund UTI | +48.11% | +33.10% | - | 1.65 | -23.6% | 0.15% | ₹528 Cr |
| 14 | UTI Gold ETF Fund of Fund - Regular Plan - Growth Opton UTI | +47.55% | +32.55% | - | 1.62 | -23.6% | - | ₹652 Cr |
| 15 | Baroda BNP Paribas Gold ETF Baroda BNP Paribas | +48.75% | - | - | 1.61 | -22.2% | 0.11% | ₹324 Cr |
| 16 | Edelweiss Gold ETF Edelweiss | +48.87% | - | - | 1.58 | -22.1% | 0.10% | ₹1.5K Cr |
| 17 | SBI Silver ETF Fund of Fund SBI | +115.66% | - | - | 1.55 | -45.0% | 0.33% | ₹4.0K Cr |
| 18 | LIC MF Gold ETF Fund of Fund LIC | +46.83% | - | - | 1.55 | -24.5% | 0.35% | ₹746 Cr |
| 19 | DSP Multi Asset Allocation Fund DSP | +16.37% | - | - | 1.54 | -9.7% | 0.38% | ₹7.9K Cr |
| 20 | Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund Mirae Asset | +69.79% | +39.98% | - | 1.50 | -27.2% | 0.14% | ₹378 Cr |
| 21 | Axis NASDAQ 100 US Specific Equity Passive FOF Axis | +45.78% | +31.43% | - | 1.46 | -23.0% | 0.29% | ₹189 Cr |
| 22 | Mirae Asset Gold ETF Mirae Asset | +49.17% | +33.00% | - | 1.43 | -22.1% | 0.10% | ₹3.0K Cr |
| 23 | Zerodha Gold ETF Zerodha | +49.28% | - | - | 1.42 | -22.5% | - | ₹2.0K Cr |
| 24 | Motilal Oswal Developed Market Ex US ETFs Fund of Funds Motilal Oswal | +36.78% | - | - | 1.40 | -14.3% | 0.11% | ₹36 Cr |
| 25 | Kotak India Growth Fund Series 4 Kotak Mahindra | +50.25% | - | - | 1.36 | -14.0% | - | - |
Ranked by Sharpe Ratio (highest first), on funds with that metric available. Returns, Sharpe, drawdown and TER are computed independently from AMFI NAVs - see methodology. No paid placement.