Gold funds by risk-adjusted return
Every fund over the last 3 years to 11 Nov 2026: return for the risk taken, and return beyond the index.
Highest Sharpe ratio
1.56
HDFC Gold ETF Fund of Fund
Risk-free rate
6.69%
CRISIL Overnight Index, same 3 years
Direct plan, Growth option. Monthly returns over 3 years.
| Fund | |||||||
|---|---|---|---|---|---|---|---|
| 31.7% | 16.1% | 1.56 | 3.45 | N/A | N/A | -24.8% | |
| 31.4% | 15.9% | 1.55 | 3.37 | N/A | N/A | -23.6% | |
| 31.1% | 15.9% | 1.54 | 3.26 | N/A | N/A | -24.5% | |
| 31.0% | 15.9% | 1.53 | 3.33 | N/A | N/A | -25.8% | |
| 31.0% | 16.0% | 1.52 | 3.30 | N/A | N/A | -24.7% | |
| 30.6% | 15.7% | 1.52 | 3.36 | N/A | N/A | -24.4% | |
| 31.2% | 16.1% | 1.52 | 3.29 | N/A | N/A | -24.5% | |
| 30.8% | 15.8% | 1.52 | 3.27 | N/A | N/A | -24.4% | |
| 30.9% | 15.9% | 1.52 | 3.26 | N/A | N/A | -24.1% | |
| 30.9% | 16.0% | 1.51 | 3.39 | N/A | N/A | -23.3% | |
| 30.5% | 15.8% | 1.51 | 3.24 | N/A | N/A | -25.8% |
11 funds with 3 years of history. Click a heading to rank by it.
What is the Sharpe ratio?
The return a fund earned above a risk-free rate, divided by its standard deviation: return per unit of risk taken. Here it is over the last 3 years, from monthly returns, with the CRISIL Overnight Index (6.69% a year over the same 3 years) as the risk-free rate.
How is the Sortino ratio different?
It divides the same excess return by downside deviation only: months that earned less than the risk-free rate. A fund that swings mostly upwards scores better on Sortino than on Sharpe.
What is alpha for a gold fund?
Jensen's alpha: the yearly return beyond what the fund's beta to the category index explains. Positive alpha means the manager added return for the market risk taken; negative means the index, at the same risk, did better.
Which figure should I rank funds by?
No single one. Sharpe and Sortino reward steadiness, alpha rewards beating the index, and all three describe the past 3 years only. Read them with the fund's rolling returns and its rank year by year.
Worked out from each fund's own daily NAV and each index's own history. Past performance does not indicate future returns.