Mutual fund benchmark returns
The indices Indian mutual funds are measured against, with their returns and how many funds use each. Data to 11 Nov 2026.
Equity indices
| Index | Funds using it | 1 year | 3 years a year | 5 years a year | 10 years a year | Volatility, 3 years |
|---|---|---|---|---|---|---|
| NIFTY 500 Index | 190 | 1.3% | 12.3% | 10.2% | 14.0% | 14.6% |
| BSE 500 Index | 62 | 0.1% | 10.9% | 8.7% | 12.7% | 14.5% |
| NIFTY Midcap 150 Index | 43 | 2.3% | 14.8% | 14.5% | 17.4% | 17.4% |
| NIFTY Large Midcap 250 Index | 38 | 0.7% | 12.4% | 10.8% | 14.3% | 15.2% |
| NIFTY Smallcap 250 Index | 37 | 5.4% | 13.0% | 13.6% | 15.0% | 19.5% |
| NIFTY 500 Multicap 50:25:25 Index | 35 | 2.4% | 13.0% | 11.6% | 14.9% | 15.4% |
| NIFTY 50 Index | 32 | -0.7% | 10.4% | 8.4% | 13.1% | 13.6% |
| NIFTY Financial Services Index | 27 | 2.4% | 13.3% | 9.1% | 14.3% | 16.7% |
| NIFTY 100 Index | 27 | 0.5% | 11.7% | 8.8% | 13.2% | 14.0% |
| NIFTY India Consumption Index | 26 | -1.9% | 12.2% | 10.8% | 13.0% | 14.2% |
| NIFTY Next 50 Index | 20 | 5.4% | 17.1% | 10.9% | 12.8% | 18.8% |
| BSE Healthcare Index | 16 | 19.7% | 22.4% | 16.2% | 13.1% | 14.4% |
| NIFTY India Manufacturing Index | 14 | 6.7% | 19.3% | 15.8% | 14.5% | 16.3% |
| BSE 100 Index | 13 | -0.8% | 10.2% | 8.0% | 12.1% | 13.9% |
| BSE 200 Index | 11 | -0.5% | 10.7% | 8.3% | 12.5% | 14.3% |
| NIFTY 100 ESG Index | 11 | 2.6% | 12.9% | 8.4% | 14.4% | 14.1% |
| NIFTY Infrastructure Index | 11 | 1.4% | 15.8% | 13.7% | 14.8% | 17.3% |
| BSE India Infrastructure Index | 10 | -2.6% | 13.9% | 15.1% | 11.9% | 23.7% |
| BSE Teck Index | 10 | -7.4% | 5.5% | 1.2% | 12.4% | 18.3% |
| BSE 250 Small Cap Index | 10 | 2.6% | 11.1% | 11.8% | N/A | 18.9% |
| NIFTY Bank Index | 10 | 5.3% | 12.4% | 10.4% | 12.6% | 16.4% |
| NIFTY IT Index | 10 | -9.1% | 3.8% | 0.1% | 15.4% | 23.0% |
| NIFTY 200 Index | 9 | 0.9% | 12.3% | 9.7% | 13.7% | 14.4% |
| NIFTY 50 Equal Weight Index | 8 | 2.9% | 12.6% | 11.0% | 12.4% | 13.9% |
| NIFTY 200 Momentum 30 Index | 8 | -2.1% | 10.0% | 8.7% | 16.7% | 20.0% |
| NIFTY MNC Index | 7 | 3.1% | 13.1% | 11.0% | 13.8% | 14.3% |
| NIFTY 200 Quality 30 Index | 7 | -4.4% | 8.6% | 7.5% | 13.0% | 13.6% |
| BSE PSU Index | 6 | 0.0% | 17.1% | 18.4% | 10.1% | 22.9% |
| NIFTY Transportation & Logistics Index | 6 | 3.9% | 20.3% | 19.2% | 14.7% | 18.9% |
| BSE Midcap 150 Index | 6 | 1.2% | 13.7% | 12.9% | N/A | 17.5% |
| NIFTY 500 Momentum 50 Index | 6 | 1.6% | 12.1% | 10.7% | 18.9% | 21.9% |
| NIFTY Alpha Low -Volatility 30 Index | 6 | 1.0% | 10.5% | 10.0% | 14.1% | 13.4% |
| NIFTY India Defence Index | 5 | 10.6% | 40.0% | N/A | N/A | 30.2% |
| NIFTY Energy Index | 5 | 5.3% | 12.1% | 11.1% | N/A | 20.5% |
| NIFTY Services Sector Index | 5 | -0.7% | 11.1% | 6.8% | 13.3% | 14.4% |
| NIFTY 100 Low Volatility 30 Index | 5 | -0.5% | 11.5% | 10.2% | 13.9% | 11.8% |
| BSE Select Business Groups Index | 4 | 2.1% | N/A | N/A | N/A | 16.7% |
| NIFTY Total Market Index | 4 | 1.7% | 12.5% | N/A | N/A | 14.7% |
| NIFTY Capital Markets Index | 4 | 26.8% | N/A | N/A | N/A | 29.0% |
| NIFTY Healthcare Index | 4 | 19.0% | 21.5% | 15.8% | 12.0% | 15.0% |
| NIFTY Private Bank Index | 4 | 7.4% | 10.2% | 9.4% | 11.2% | 16.5% |
| NIFTY Midcap 150 Momentum 50 Index | 4 | 1.6% | 14.3% | 14.7% | 21.0% | 20.2% |
| NIFTY 500 Shariah Index | 4 | -1.1% | 8.3% | 6.6% | 13.5% | 14.0% |
| NIFTY Smallcap 50 Index | 3 | 14.0% | 17.6% | 13.8% | 12.8% | 20.7% |
| BSE India Sector Leaders Index | 3 | -1.2% | N/A | N/A | N/A | 14.3% |
| NIFTY 500 Value 50 Index | 3 | 6.3% | 20.7% | 21.9% | 16.2% | 20.8% |
| BSE 250 Large MidCap Index | 3 | -0.1% | 10.8% | 8.4% | N/A | 14.3% |
| NIFTY Smallcap 250 Momentum Quality 100 Index | 3 | 7.8% | 10.6% | 11.7% | 17.5% | 20.6% |
| NIFTY Housing Index | 3 | 3.8% | 12.3% | 9.6% | 14.2% | 17.5% |
| NIFTY 100 Equal Weighted Index | 3 | 5.1% | 15.8% | 11.7% | 13.5% | 15.7% |
| NIFTY Realty Index | 3 | -4.7% | 10.9% | 11.2% | N/A | 27.8% |
| BSE Quality Index | 3 | -1.4% | 11.1% | N/A | N/A | 15.3% |
Hybrid indices
| Index | Funds using it | 1 year | 3 years a year | 5 years a year | 10 years a year | Volatility, 3 years |
|---|---|---|---|---|---|---|
| NIFTY 50 Hybrid Composite Debt 50:50 Index | 61 | -0.1% | 9.9% | 8.1% | 12.1% | 11.9% |
| NIFTY 50 Arbitrage Index | 40 | 7.4% | 7.5% | 6.8% | 5.6% | 1.4% |
| CRISIL Hybrid 35+65 - Aggressive Fund Index | 38 | 1.8% | 10.3% | 8.5% | 11.7% | 9.3% |
| CRISIL Hybrid 85+15 - Conservative Index | 28 | 3.2% | 7.6% | 6.5% | 7.9% | 3.0% |
| NIFTY Equity Savings Index | 24 | 0.6% | 9.8% | 8.1% | 11.3% | 11.2% |
| NIFTY 50 Hybrid Composite Debt 65:35 Index | 12 | 3.3% | 9.2% | 7.8% | 10.0% | 5.7% |
| CRISIL Composite Bond Fund Index(60%)+NIFTY 50 Arbitrage Index(40%) | 10 | 4.5% | 6.9% | 6.0% | 6.4% | 1.4% |
| CRISIL Short Duration Debt(60%)+NIFTY 50 Arbitrage Index(40%) | 7 | 5.3% | N/A | N/A | N/A | 0.8% |
| NIFTY Composite Debt Index(65%)+NIFTY 50 Arbitrage Index(35%) | 3 | 4.3% | 6.9% | 6.0% | 6.4% | 1.4% |
| NIFTY 500 Index(65%)+NIFTY Composite Debt Index(20%)+INR Price of Gold(15%) | 3 | 6.6% | 19.7% | 14.9% | 14.9% | 12.7% |
Debt indices
| Index | Funds using it | 1 year | 3 years a year | 5 years a year | 10 years a year | Volatility, 3 years |
|---|---|---|---|---|---|---|
| CRISIL IBX 50:50 Gilt Plus SDL Index, April 2028 | 122 | 3.3% | 7.1% | 5.9% | 6.8% | 2.8% |
| CRISIL Liquid Fund Index | 108 | 6.1% | 6.7% | 6.3% | 6.1% | 0.2% |
| NIFTY Banking and PSU Debt Index | 91 | 4.7% | 6.9% | 6.2% | 6.9% | 0.7% |
| CRISIL-IBX Financial Services 3 to 6 Months Debt Index | 74 | 5.0% | 4.8% | 4.2% | 3.9% | 0.8% |
| CRISIL Dynamic Bond Fund Index | 36 | 3.5% | 6.7% | 5.8% | 6.7% | 1.9% |
| CRISIL Medium Duration Fund Index | 26 | 4.1% | 7.1% | 6.0% | 6.8% | 1.6% |
Global indices
| Index | Funds using it | 1 year | 3 years a year | 5 years a year | 10 years a year | Volatility, 3 years |
|---|---|---|---|---|---|---|
| NASDAQ 100 Index | 8 | 11.1% | 22.3% | 12.1% | 19.6% | 21.6% |
| S&P 500 Index | 6 | 11.3% | 19.9% | 10.4% | 13.4% | 15.6% |
Gold and silver indices
| Index | Funds using it | 1 year | 3 years a year | 5 years a year | 10 years a year | Volatility, 3 years |
|---|---|---|---|---|---|---|
| Domestic Price of Gold(50%)+Domestic Price of Silver(50%) | 12 | 5.3% | 15.6% | 11.9% | 14.2% | 18.8% |
Every index named as the benchmark of at least three Direct Growth funds, ordered by how many funds use it. Returns from each index's own daily values: 1 year is the plain return, 3 years and longer are yearly rates, compounded. Volatility is the annualised standard deviation of daily returns over 3 years. Indices with breaks in their data are left out. Past performance does not indicate future returns.
What is a mutual fund benchmark?
A benchmark is the index a fund is measured against, named in its scheme documents. A large cap fund is usually measured against the NIFTY 100 or BSE 100, a flexi cap fund against the NIFTY 500. SEBI requires funds to report their performance against the total return version of their benchmark.
Are these benchmark returns with dividends?
Fund benchmarks are total return indices, which assume dividends are reinvested, so they compare fairly with a fund's growth plan. Returns over 3 years and longer are yearly rates, compounded.
How do I check if my fund beat its benchmark?
Compare the fund's return with its benchmark's over the same period, and over many periods, not one. Each fund page shows its calendar years against its benchmark, and the rolling returns tool shows the fund and its index over every period.
Why do debt funds have different benchmarks?
Debt indices are built for a type of bond and a length of time: liquid, short duration, banking and PSU, gilt. A fund is measured against the index that matches what it holds, so a liquid fund and a gilt fund are not compared with the same index.
Compare a fund with its index over every period in the rolling returns tool, or see each category's average in rupees and dollars.