Large Cap Index 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

0.35

Bandhan NIFTY 100 Index Fund

Risk-free rate

6.69%

CRISIL Overnight Index, same 3 years

Direct plan, Growth option. Monthly returns over 3 years.

Sharpe and alpha coloured by quartile in the category:Top 25%25-50%50-75%Bottom 25%

Fund
1Bandhan NIFTY 100 Index Fund	11.4%	13.7%	0.35	0.57	N/A	N/A	-17.3%
2Axis NIFTY 100 Index Fund	11.4%	13.7%	0.34	0.55	N/A	N/A	-17.3%
3HDFC NIFTY 100 Index Fund	11.0%	13.9%	0.31	0.49	N/A	N/A	-17.3%
4Bandhan NIFTY 50 Index Fund	10.2%	13.4%	0.26	0.42	N/A	N/A	-15.5%
5Motilal Oswal NIFTY 50 Index Fund	10.2%	13.4%	0.26	0.43	N/A	N/A	-15.5%
6Navi NIFTY 50 Index Fund	10.2%	13.4%	0.26	0.43	N/A	N/A	-15.5%
7Nippon India Index Fund - NIFTY 50 Plan	10.2%	13.3%	0.26	0.43	N/A	N/A	-15.5%
8DSP NIFTY 50 Index Fund	10.2%	13.3%	0.26	0.43	N/A	N/A	-15.5%
9UTI NIFTY 50 Index Fund	10.2%	13.4%	0.26	0.42	N/A	N/A	-15.5%
10HSBC NIFTY 50 Index Fund	10.1%	13.4%	0.26	0.42	N/A	N/A	-15.5%
11Franklin India Index Fund- NSE NIFTY 50 Index Fund	10.2%	13.3%	0.26	0.42	N/A	N/A	-15.4%
12SBI NIFTY Index Fund	10.1%	13.4%	0.26	0.42	N/A	N/A	-15.5%
13ICICI Prudential NIFTY 50 Index Fund	10.1%	13.3%	0.26	0.42	N/A	N/A	-15.5%
14Edelweiss NIFTY 50 Index Fund	10.2%	13.3%	0.26	0.43	N/A	N/A	-15.5%
15Aditya Birla Sun Life NIFTY 50 Index Fund	10.2%	13.3%	0.26	0.42	N/A	N/A	-15.5%
16Axis NIFTY 50 Index Fund	10.2%	13.3%	0.26	0.43	N/A	N/A	-15.4%
17Kotak NIFTY 50 Index Fund	10.1%	13.4%	0.25	0.41	N/A	N/A	-15.7%
18LIC MF NIFTY 50 Index Fund	9.9%	13.3%	0.24	0.39	N/A	N/A	-15.5%
19HDFC NIFTY 50 Index Fund	9.8%	13.7%	0.23	0.37	N/A	N/A	-15.5%
20Tata NIFTY 50 Index Fund	9.8%	13.7%	0.23	0.36	N/A	N/A	-15.6%
21Taurus NIFTY 50 Index Fund	9.4%	13.2%	0.20	0.32	N/A	N/A	-15.6%
22Nippon India Index Fund - BSE SENSEX Plan	9.0%	13.8%	0.17	0.27	N/A	N/A	-16.1%
23ICICI Prudential BSE Sensex Index Fund	9.0%	13.8%	0.17	0.27	N/A	N/A	-16.1%
24UTI BSE Sensex Index Fund	9.0%	13.8%	0.17	0.27	N/A	N/A	-16.1%
25Navi BSE Sensex Index Fund	8.9%	13.7%	0.16	0.27	N/A	N/A	-16.1%
26SBI BSE Sensex Index Fund	8.9%	13.8%	0.16	0.26	N/A	N/A	-16.1%
27LIC MF BSE Sensex Index Fund	8.7%	13.7%	0.15	0.24	N/A	N/A	-16.1%
28HDFC BSE Sensex Index Fund	8.7%	14.1%	0.14	0.22	N/A	N/A	-16.1%
29Tata BSE Sensex Index Fund	8.6%	14.1%	0.13	0.21	N/A	N/A	-16.2%

29 funds with 3 years of history. Click a heading to rank by it.

Returns by year →SIP returns →Large Cap Index funds compared →

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 large cap index 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.