Conservative Hybrid funds in India
34 plans (17 Regular, 17 Direct), rated on their track record against their composite benchmark (20% Nifty 50 TRI + 80% bond funds) and their peers. Data as of 8 Nov 2026.
Mostly debt with a small equity kicker, for investors who want a little more than a debt fund and can accept small falls. Taxed like a debt fund, at your slab rate. SEBI requires conservative hybrid funds to invest 10% to 25% in equities and 75% to 90% in debt.
The difference, on ₹10 lakh invested three years ago, between the strongest conservative hybrid fund (8.8% a year) and the weakest (4.8% a year). Same category, same SEBI rules, same market. 7 of 17 funds beat their composite benchmark (20% Nifty 50 TRI + 80% bond funds) over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (17)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid FundPPFAS Mutual Fund · 5.4 yrs | A+ | 8.8% | +1.3% | 0.66% | ₹3,394 cr |
| ICICI Prudential Conservative Hybrid FundICICI Prudential Mutual Fund · 20.6 yrs | A+ | 8.2% | +0.8% | 1.73% | ₹3,223 cr |
| DSP Conservative Hybrid FundDSP Mutual Fund · 20.6 yrs | A | 8.0% | +0.5% | 1.25% | ₹174 cr |
| SBI Conservative Hybrid FundSBI Mutual Fund · 20.6 yrs | A | 7.8% | +0.3% | 1.49% | ₹9,944 cr |
| Aditya Birla Sun Life Conservative Hybrid FundAditya Birla Sun Life Mutual Fund · 20.6 yrs | A | 7.9% | +0.4% | 1.80% | ₹1,448 cr |
| Kotak Conservative Hybrid FundKotak Mahindra Mutual Fund · 15.7 yrs | B | 7.5% | +0.1% | 1.76% | ₹2,585 cr |
| HSBC Conservative Hybrid FundHSBC Mutual Fund · 20.6 yrs | B | 7.9% | +0.4% | 2.19% | ₹148 cr |
| Franklin India Conservative Hybrid FundFranklin Templeton Mutual Fund · 20.6 yrs | C | 7.2% | -0.3% | 1.39% | ₹179 cr |
| Baroda BNP Paribas Conservative Hybrid FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | C | 6.9% | -0.6% | 2.06% | ₹937 cr |
| HDFC Conservative Hybrid FundHDFC Mutual Fund · 20.6 yrs | C | 7.1% | -0.4% | 1.70% | ₹3,073 cr |
| UTI Conservative Hybrid FundUTI Mutual Fund · 20.6 yrs | C | 7.3% | -0.2% | 1.85% | ₹1,577 cr |
| Canara Robeco Conservative Hybrid FundCanara Robeco Mutual Fund · 20.6 yrs | C | 6.8% | -0.7% | 1.89% | ₹797 cr |
| Bank Of India Conservative Hybrid FundBank of India Mutual Fund · 17.6 yrs | C | 5.8% | -1.7% | 2.27% | ₹68 cr |
| Bandhan Conservative Hybrid FundBandhan Mutual Fund · 16.7 yrs | C | 6.7% | -0.8% | 1.94% | ₹85 cr |
| Sundaram Conservative Hybrid Fund (Formerly Known as Sundaram Debt Oriented Hybrid Fund)Sundaram Mutual Fund · 16.6 yrs | C | 4.8% | -2.7% | 1.87% | ₹18 cr |
| Axis Conservative Hybrid FundAxis Mutual Fund · 16.3 yrs | C | 5.8% | -1.7% | 2.15% | ₹213 cr |
| LIC MF Conservative Hybrid FundLIC Mutual Fund · 20.6 yrs | C | 5.6% | -1.9% | 2.22% | ₹45 cr |
Direct plans (17)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid FundPPFAS Mutual Fund · 5.4 yrs | A+ | 9.1% | +1.3% | 0.31% | ₹3,394 cr |
| ICICI Prudential Conservative Hybrid FundICICI Prudential Mutual Fund · 13.8 yrs | A+ | 9.0% | +1.2% | 1.04% | ₹3,223 cr |
| Aditya Birla Sun Life Conservative Hybrid FundAditya Birla Sun Life Mutual Fund · 13.8 yrs | A | 8.8% | +1.1% | 0.96% | ₹1,448 cr |
| DSP Conservative Hybrid FundDSP Mutual Fund · 13.8 yrs | A | 8.7% | +0.9% | 0.65% | ₹174 cr |
| Baroda BNP Paribas Conservative Hybrid FundBaroda BNP Paribas Mutual Fund · 4.6 yrs | A | 8.5% | +0.7% | 0.55% | ₹937 cr |
| SBI Conservative Hybrid FundSBI Mutual Fund · 13.8 yrs | A | 8.3% | +0.5% | 1.01% | ₹9,944 cr |
| Kotak Conservative Hybrid FundKotak Mahindra Mutual Fund · 13.8 yrs | B | 8.8% | +1.0% | 0.60% | ₹2,585 cr |
| Canara Robeco Conservative Hybrid FundCanara Robeco Mutual Fund · 13.8 yrs | B | 8.0% | +0.2% | 0.77% | ₹797 cr |
| Franklin India Conservative Hybrid FundFranklin Templeton Mutual Fund · 13.8 yrs | B | 7.9% | +0.1% | 0.81% | ₹179 cr |
| HSBC Conservative Hybrid FundHSBC Mutual Fund · 13.8 yrs | B | 8.9% | +1.1% | 1.19% | ₹148 cr |
| UTI Conservative Hybrid FundUTI Mutual Fund · 13.8 yrs | B | 7.9% | +0.1% | 1.24% | ₹1,577 cr |
| HDFC Conservative Hybrid FundHDFC Mutual Fund · 13.8 yrs | C | 7.7% | -0.1% | 1.18% | ₹3,073 cr |
| Bank Of India Conservative Hybrid FundBank of India Mutual Fund · 13.8 yrs | C | 6.8% | -1.0% | 1.20% | ₹68 cr |
| Bandhan Conservative Hybrid FundBandhan Mutual Fund · 13.8 yrs | C | 7.7% | -0.1% | 0.89% | ₹85 cr |
| Axis Conservative Hybrid FundAxis Mutual Fund · 13.8 yrs | C | 7.1% | -0.7% | 1.16% | ₹213 cr |
| Sundaram Conservative Hybrid Fund (Formerly Known as Sundaram Debt Oriented Hybrid Fund)Sundaram Mutual Fund · 13.8 yrs | C | 5.7% | -2.1% | 1.06% | ₹18 cr |
| LIC MF Conservative Hybrid FundLIC Mutual Fund · 13.8 yrs | C | 6.6% | -1.2% | 1.66% | ₹45 cr |
Common questions
What does a conservative hybrid fund invest in?
SEBI requires conservative hybrid funds to invest 10% to 25% in equities and 75% to 90% in debt.
How many conservative hybrid funds beat their index over 3 years?
7 of 17 conservative hybrid funds (Regular plans with 3 years of history) beat their composite benchmark (20% Nifty 50 TRI + 80% bond funds) over the 3 years to 8 Nov 2026.
How are these funds rated?
Each fund is compared only with funds in its category and plan type, on its long-run return over the index, risk-adjusted return, consistency, cost and portfolio. The ratings describe the track record so far; our own backtest found they do not predict future returns.
Ratings describe past track records and are not a recommendation to buy or sell. Read the scheme documents before investing.