Highest Sharpe Ratio Mutual Funds
Updated September 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 | WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital | +10.91% | +16.78% | - | 1.83 | -6.1% | 0.42% | ₹6.3K Cr |
| 2 | 360 ONE Multi Asset Allocation Fund 360 ONE | +17.09% | - | - | 1.58 | -9.9% | 0.44% | ₹356 Cr |
| 3 | Groww Gold ETF FOF Groww | +30.81% | - | - | 1.53 | -24.9% | - | ₹104 Cr |
| 4 | Zerodha Gold ETF FoF Zerodha | +32.18% | - | - | 1.52 | -24.3% | - | ₹292 Cr |
| 5 | HDFC Pharma and Healthcare Fund HDFC | +28.83% | - | - | 1.48 | -14.9% | 1.17% | ₹2.0K Cr |
| 6 | DSP Silver ETF Fund of Fund DSP | +64.43% | - | - | 1.47 | -45.4% | 0.59% | ₹818 Cr |
| 7 | Union Gold ETF Fund of Fund Union | +31.84% | - | - | 1.44 | -24.6% | 0.29% | ₹159 Cr |
| 8 | DSP Multi Asset Allocation Fund DSP | +12.02% | - | - | 1.43 | -9.7% | 0.38% | ₹7.9K Cr |
| 9 | Mirae Asset Gold ETF Fund of Fund Mirae Asset | +31.53% | - | - | 1.43 | -23.8% | 0.10% | ₹436 Cr |
| 10 | Union Gold ETF Union | +32.29% | - | - | 1.41 | -22.2% | 0.29% | ₹259 Cr |
| 11 | UTI Gold ETF Fund of Fund UTI | +31.71% | +35.71% | - | 1.41 | -23.6% | 0.15% | ₹528 Cr |
| 12 | DSP Gold ETF Fund of Fund DSP | +31.84% | - | - | 1.40 | -25.2% | 0.63% | ₹481 Cr |
| 13 | Tata Gold ETF Fund of Fund Tata | +31.01% | - | - | 1.40 | -24.3% | 0.28% | ₹1.2K Cr |
| 14 | UTI Gold ETF Fund of Fund - Regular Plan - Growth Opton UTI | +31.21% | +35.16% | - | 1.38 | -23.6% | - | ₹652 Cr |
| 15 | Groww Silver ETF FOF Groww | +62.46% | - | - | 1.37 | -43.6% | - | ₹95 Cr |
| 16 | Motilal Oswal Developed Market Ex US ETFs Fund of Funds Motilal Oswal | +28.71% | - | - | 1.37 | -14.3% | - | ₹36 Cr |
| 17 | Kotak India Growth Fund Series 4 Kotak Mahindra | +50.25% | - | - | 1.36 | -14.0% | - | - |
| 18 | Baroda BNP Paribas Gold ETF Baroda BNP Paribas | +32.33% | - | - | 1.36 | -22.2% | 0.11% | ₹324 Cr |
| 19 | Edelweiss Gold ETF Edelweiss | +32.38% | - | - | 1.34 | -22.1% | 0.10% | ₹1.5K Cr |
| 20 | Franklin India Ultra Short Bond Fund - Institutional Franklin Templeton | +13.69% | - | - | 1.32 | -1.2% | - | - |
| 21 | Franklin India Ultra Short Bond Fund - Retail Franklin Templeton | +13.69% | - | - | 1.32 | -1.2% | - | - |
| 22 | LIC MF Gold ETF Fund of Fund LIC | +31.60% | +35.23% | - | 1.31 | -24.5% | 0.35% | ₹746 Cr |
| 23 | Motilal Oswal Gold ETF Motilal Oswal | +32.14% | - | - | 1.31 | -22.1% | - | ₹1.6K Cr |
| 24 | 360 ONE Silver ETF 360 ONE | +66.39% | - | - | 1.31 | -44.2% | - | ₹52 Cr |
| 25 | 360 ONE Gold ETF 360 ONE | +32.18% | - | - | 1.30 | -22.0% | - | ₹138 Cr |
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.