Bandhan Small Cap Fund has recorded the highest Sharpe ratio among smallcap funds over the past three years. The fund delivered a 31.05 percent return during that period. Several other funds also posted strong risk-adjusted performance.
Bandhan Small Cap Fund posted a Sharpe ratio of 1.17, the highest in the group. It achieved a return of 31.05 percent over three years. The metric measures excess return over the risk-free rate per unit of risk using standard deviation as the risk measure.
A total of 11 equity mutual funds delivered returns exceeding 25 percent over the past three months, according to data covering 302 funds in the period.
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Several international mutual funds have delivered gains exceeding 40 percent over three years.
Indian stock markets have recorded flat performance in recent periods. A study by Edelweiss Mutual Fund indicates these phases have historically led to stronger returns.
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Multi-asset allocation funds delivered returns between 3.3% and 24.6% last year. Investors increased allocations to these products amid challenging market conditions.