It is a checklist of the worst-performing fairness mutual funds over each attainable 5, 4, and three durations between 1st Jan 2013 (introduction date of direct plans) to April eighth 2022.
Some caveats earlier than we start: (1) The definition of a “worst mutual fund” is as arbitrary because the definition of a “finest mutual fund”. We hope that it’s a cheap definition, contemplating the excessive charges demanded by the MF business. This is likely one of the highest on this planet, in accordance with a Morningstar examine. (2) We select a consultant class benchmark and examine the fund’s returns with the benchmark over the above-mentioned durations. The selection of the benchmark can be arbitrary however fairly consultant. (3) SEBI mutual fund categorization guidelines had been totally in place by Could-June 2018. Some funds (notably these from smaller AMCs) might have modified considerably modified in type after that. An exhaustive filtration taking these modifications into consideration is past the capabilities of this examine.
(4) A fund labelled as “worst” means a cautious, deeper investigation of its previous efficiency is critical, notably should you spend money on it or think about future investments in it. (5) Sectoral funds/ thematic funds are in contrast with Nifty 100 TRI. As an information analyst, this alternative is inaccurate. Nonetheless, as an investor, it is sensible, and that’s extra vital! We aren’t making an attempt to submit a thesis right here! If a thematic fund fails towards a big cap index, it’s an avoidable fund for many buyers.
How a worst mutual fund is outlined
Say there are 800 5 yr return durations attainable; 1025 4 yr return durations; 1300 three yr return durations; 1500 two yr return durations. We will outline a fund as “worst” if it has overwhelmed the benchmark for lower than 50% of the 5Y and 4Y and 3Y return durations.
Allow us to take, for instance, Principal Targeted Multicap Fund- Direct Plan. We examine it with Nifty Largemidcap 250 TRI.
- No of rolling return entries (3 Years) 1472
- No of occasions the fund has outperformed the index (3 years) 552
- rolling return outperformance Consistency Rating (3 years) 38%
- No of rolling return entries (4 Years) 1228
- No of occasions the fund has outperformed the index (4 years) 506
- rolling return outperformance Consistency Rating (4 years) 41%
- No of rolling return entries (5 Years) 981
- No of occasions the fund has outperformed the index (5 years) 337
- rolling return outperformance Consistency Rating (5 years) 34%
Utilizing the April 2022 Fairness Mutual Fund Screener, we filer out all funds with a rolling return outperformance consistency of lower than 50% over 5 years and 4 years and three years. This will probably be our definition of a “worst fund”. We make no declare of superiority over this definition. We simply really feel that is cheap whereas appreciating that not all readers will agree with the methodology used.
NOTE: Buyers holding these funds needn’t exit them in a rush. Please use this as an indication to dig deeper and re-evaluate these funds. A fund absent from this checklist doesn’t imply it’s a “good fund” or an outperformer!
The filtration course of
A complete of 378 fairness mutual funds had been studied from these classes and towards these benchmarks.
| Class | Benchmark |
| Aggressive Hybrid Fund | Crisil6535 |
| Dividend Yield Fund | Nifty 100 TRI |
| ELSS | N200TRI |
| Focussed Fund | Nifty Largemidcap 250 TRI |
| Massive & Mid Cap Fund | Nifty Largemidcap 250 TRI |
| Massive Cap Fund | Nifty 100 TRI |
| Mid Cap Fund | NiftyMidcap150TRI |
| Multi Cap Fund | Nifty Largemidcap 250 TRI |
| Sectoral/ Thematic | Nifty 100 TRI |
| Sectoral/ Thematic (worldwide) | Nifty 100 TRI |
| Small Cap Fund | NiftyMidcap150TRI |
| Worth Fund | Nifty 100 TRI |
We’re left with 140 funds after making use of the above filter.
Aggressive Hybrid Funds
| JM Fairness Hybrid Fund (Direct) – Progress Choice |
| Franklin India Fairness Hybrid Fund – Direct – Progress |
| Tata Hybrid Fairness Fund -Direct Plan- Progress |
| UTI – Hybrid Fairness Fund -Direct Plan – Progress |
| Nippon India Fairness Hybrid Fund – Direct Plan Progress Plan |
| Aditya Birla Solar Life Fairness Hybrid’95 Fund – Direct Plan-Progress |
| Edelweiss Aggressive Hybrid Fund(G)-Direct Plan |
| LIC MF Fairness Hybrid Fund-Direct Plan-Progress |
| L&T Hybrid Fairness Fund – Direct Plan-Progress |
| BARODA HYBRID EQUITY FUND – Plan B (Direct) – Progress Choice |
| Shriram Hybrid Fairness Fund- Direct Progress |
| DHFL Pramerica Hybrid Fairness Fund – Direct Plan – Progress |
| IDBI Hybrid Fairness Fund Progress Direct |
| IDFC Hybrid Fairness Fund-Direct Plan-Progress |
Dividend Yield Funds
| UTI-Dividend Yield Fund.-Progress-Direct |
| Aditya Birla Solar Life Dividend Yield Fund – Progress – Direct Plan |
| ICICI Prudential Dividend Yield Fairness Fund Direct Plan Progress Choice |
ELSS Funds
| Franklin India TAXSHIELD – Direct – Progress |
| HDFC TaxSaver -Direct Plan – Progress Choice |
| HSBC Tax Saver Fairness Fund – Progress Direct |
| Nippon India Tax Saver Fund – Direct Plan Progress Plan – Progress Choice |
| SBI MAGNUM TAXGAIN SCHEME 1993 – DIRECT PLAN -GROWTH |
| Sundaram Diversified Fairness – A Lengthy-term Tax Saver Fund – Direct Plan – Progress Choice |
| Union Tax Saver Scheme – Direct Plan – Progress Choice |
| Edelweiss Lengthy Time period Fairness Fund (Tax Financial savings) – Direct Plan-Progress Choice |
| Principal Private Tax Saver Fund – Direct Plan |
| IDBI Fairness Benefit Fund – Progress Direct |
| Baroda ELSS 96 Plan B(Direct) -Progress Choice |
| Essel Lengthy Time period Benefit Fund- Direct Plan- Progress Choice |
| Mahindra Mutual Fund Kar Bachat Yojana Direct Plan – Progress |
Focussed Funds
| HDFC Targeted 30 Fund -Direct Plan – Progress Choice |
| DSP Focus Fund – Direct Plan – Progress |
| IDFC Targeted Fairness Fund-Direct Plan-Progress |
| Nippon India Targeted Fairness Fund – Direct Plan Progress Plan – Progress Choice |
| Aditya Birla Solar Life Targeted Fairness Fund – Progress – Direct Plan |
| ICICI Prudential Targeted Fairness Fund – Direct Plan – Progress |
| Principal Targeted Multicap Fund- Direct Plan – Progress Choice |
| Sundaram Choose Focus – Direct Plan – Progress Choice |
| Motilal Oswal Targeted 25 Fund (MOF25)- Direct Plan Progress Choice |
Massive & Midcap Funds
| Franklin India Fairness Benefit Fund – Direct – Progress |
| BOI AXA Massive & Mid Cap Fairness Fund Direct Plan-Progress |
| ICICI Prudential Massive & Mid Cap Fund – Direct Plan – Progress |
| IDFC Core Fairness Fund-Direct Plan-Progress |
| L&T Massive and Midcap Fund-Direct Plan-Progress |
| Nippon India Imaginative and prescient Fund – Direct Plan Progress Plan – Progress Choice |
| UTI – Core Fairness Fund – Direct Plan – Progress Choice |
| HDFC Progress Alternatives Fund – Direct Progress Plan |
Largecap funds
| Franklin India Bluechip Fund- Direct – Progress |
| HDFC Prime 100 Fund -Direct Plan – Progress Choice |
| DSP Prime 100 Fairness Fund – Direct Plan – Progress |
| Essel Massive Cap Fairness Fund-Direct Plan-Progress Choice |
| HSBC Massive Cap Fairness Fund – Progress Direct |
| IDFC Massive Cap Fund-Direct Plan-Progress |
| L&T India Massive Cap Fund – Direct Plan – Progress |
| Tata Massive Cap Fund -Direct Plan Progress |
| Aditya Birla Solar Life Frontline Fairness Fund – Progress – Direct Plan |
| IDBI India Prime 100 Fairness Fund Progress Direct |
| JM Massive Cap Fund (Direct) – Progress Choice |
| Taurus Largecap Fairness Fund-Direct Plan-Progress Choice |
| Baroda Massive cap Fund – Plan B (Direct) – Progress Choice |
| DHFL Pramerica Massive Cap Fund – Direct Plan – Progress |
Midcap funds
| Mirae Asset Midcap Fund(G)-Direct Plan |
| Union Midcap Fund(G)-Direct Plan |
| HSBC Mid Cap Fund(G)-Direct Plan |
| ITI Mid Cap Fund(G)-Direct Plan |
| Aditya Birla Solar Life Midcap Fund – Progress – Direct Plan |
| Baroda Mid-cap Fund- Plan B (Direct) – Progress Choice |
| BOI AXA MID & SMALL CAP EQUITY & DEBT FUND – DIRECT PLAN GROWTH |
| DHFL Pramerica Midcap Alternatives Fund – Direct Plan – Progress Choice |
| Franklin India Prima Fund – Direct – Progress |
| HDFC Mid Cap Alternatives Fund -Direct Plan – Progress Choice |
| IDBI Midcap Fund Progress Direct |
| Motilal Oswal Midcap 30 Fund (MOF30)-Direct Plan-Progress Choice |
| Quant Mid Cap Fund-Progress Choice-Direct Plan |
| Nippon India Progress Fund – Direct Plan Progress Plan – Progress Choice |
| SBI Magnum MIDCAP FUND – DIRECT PLAN – GROWTH |
| Sundaram Mid Cap Fund- Direct Plan – Progress Choice |
| Taurus Discovery (Midcap) Fund-Direct Plan-Progress Choice |
| UTI Mid Cap Fund-Progress Choice- Direct |
| PGIM India Midcap Alternatives Fund Direct Plan |
Multicap funds
| Franklin India Fairness Fund – Direct – Progress |
| HDFC Fairness Fund -Direct Plan – Progress Choice |
| HSBC Multi Cap Fairness Fund – Progress Direct |
| ICICI Prudential MidCap Fund – Direct Plan – Progress |
| ICICI Prudential Multicap Fund – Direct Plan – Progress |
| IDFC Multi Cap Fund-Direct Plan-Progress |
| L&T Fairness Fund-Direct Plan-Progress |
| Nippon India Multi Cap Fund – Direct Plan Progress Plan – Progress Choice |
| Taurus Starshare (Multi Cap) Fund -Direct Plan-Progress Choice |
| Union Multi Cap Fund – Direct Plan – Progress Choice |
| BARODA MULTI CAP FUND – Plan B (Direct) – Progress Choice |
| LIC MF Multicap Fund-Direct Plan-Progress |
| IDBI DIVERSIFIED EQUITY FUND Progress Direct |
Sectoral or Thematic funds
| Franklin India Alternatives Fund – Direct – Progress |
| HDFC Infrastructure Fund -Direct Plan – Progress Choice |
| Canara Robeco Infrastructure-Direct Plan – Progress |
| HSBC Infrastructure Fairness Fund – Progress Direct |
| ICICI Prudential Infrastructure Fund – Direct Plan – Progress |
| IDFC Infrastructure Fund-Direct Plan-Progress |
| Invesco India PSU Fairness Fund – Direct Plan – Progress |
| Nippon India Banking Fund – Direct Plan Progress Plan – Progress Choice |
| Nippon India Energy & Infra Fund – Direct Plan Progress Plan – Progress Choice |
| Nippon India Quant Fund – Direct Plan Progress Plan – Progress Choice |
| Tata Infrastructure Fund -Direct Plan Progress |
| UTI India Shopper Fund – Direct Plan – Progress Choice |
| UTI Infrastructure Fund-Progress Choice- Direct |
| UTI-Transpotation and Logistics Fund-Progress Choice- Direct |
| Aditya Birla Solar Life Infrastructure Fund – Progress – Direct Plan |
| Baroda Banking and Monetary Companies Fund – Plan B (Direct) – Progress Choice |
| SBI INFRASTRUCTURE FUND – DIRECT PLAN – GROWTH |
| SBI PSU Fund – DIRECT PLAN – GROWTH |
| ICICI Prudential Exports & Companies Fund – Direct Plan – Progress |
| LIC MF Infrastructure Fund-Direct Plan-Progress |
| Sundaram Infrastructure Benefit Fund (Erstwhile Sundaram Capex Alternatives) Direct Plan Progress |
| L&T Enterprise Cycles Fund – Direct Plan – Progress |
| Kotak Infrastructure & Financial Reform Fund- Direct Plan- Progress Choice |
| Aditya Birla Solar Life Manufacturing Fairness Fund – Direct Plan – Progress |
| LIC MF Banking and Monetary Companies Fund-Direct Plan-Progress |
Sectoral/ Thematic (worldwide)
| Franklin Asian Fairness Fund – Direct – Progress |
| Aditya Birla Solar Life Commodity Equities Fund – World Agri Plan – Progress – Direct Plan |
| Aditya Birla Solar Life Worldwide Fairness Fund – Plan A – Progress – Direct Plan |
| Aditya Birla Solar Life Worldwide Fairness Fund – Plan B – Progress – Direct Plan |
| Nippon India Japan Fairness Fund- Direct Plan- Progress Plan- Progress Choice |
Small Cap Funds
| ITI Small Cap Fund(G)-Direct Plan |
| PGIM India Small Cap Fund(G)-Direct Plan |
| UTI Small Cap Fund(G)-Direct Plan |
| Aditya Birla Solar Life Small Cap Fund – Progress – Direct Plan |
| Franklin India Smaller Corporations Fund – Direct – Progress |
| HSBC Small Cap Fairness Fund – Progress Direct |
| ICICI Prudential Smallcap Fund – Direct Plan – Progress |
| IDBI Small Cap Fund – Progress Direct |
| Principal Small Cap Fund – Direct Plan – Progress Choice |
| Sundaram Small Cap Fund – Direct Plan – Progress Choice |
| Union Small Cap Fund – Direct Plan – Progress Choice |
Worth funds
| Templeton India Worth Fund – Direct – Progress |
| ICICI Prudential Worth Discovery Fund – Direct Plan – Progress |
| Aditya Birla Solar Life Pure Worth Fund – Progress – Direct Plan |
| UTI Worth Alternatives Fund- Direct Plan – Progress Choice |
| Indiabulls Worth Discovery Fund – Direct Plan – Progress Choice |
To reiterate: Buyers holding these funds needn’t exit them in a rush. Please use this as an indication to dig deeper and re-evaluate these funds. A fund absent from this checklist doesn’t imply it’s a “good fund” or an outperformer!
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