Equity Savings funds in India
44 plans (22 Regular, 22 Direct), rated on their track record against their composite benchmark (35% Nifty 50 TRI + 65% liquid funds) and their peers. Data as of 8 Nov 2026.
A little equity, a lot of arbitrage and some debt: modest returns with small swings, taxed as equity. Often a better fit than an FD for three-year money in the higher tax slabs. SEBI requires equity savings funds to invest at least 65% in equities, much of it hedged with arbitrage, at least 10% in debt.
The difference, on ₹10 lakh invested three years ago, between the strongest equity savings fund (12.2% a year) and the weakest (6.3% a year). Same category, same SEBI rules, same market. 6 of 19 funds beat their composite benchmark (35% Nifty 50 TRI + 65% liquid funds) over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (22)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Edelweiss Equity Savings FundEdelweiss Mutual Fund · 9.9 yrs | A+ | 10.2% | +2.1% | 2.10% | ₹1,757 cr |
| HSBC Equity Savings FundHSBC Mutual Fund · 3.9 yrs | A+ | 12.2% | +4.1% | 2.37% | ₹1,611 cr |
| Mirae Asset Equity Savings FundMirae Asset Mutual Fund · 7.9 yrs | A | 9.7% | +1.6% | 1.72% | ₹1,974 cr |
| DSP Equity Savings FundDSP Mutual Fund · 10.6 yrs | A | 8.0% | -0.1% | 1.96% | ₹2,992 cr |
| SBI Equity Savings FundSBI Mutual Fund · 11.4 yrs | A | 7.6% | -0.5% | 2.00% | ₹5,333 cr |
| Aditya Birla Sun Life Equity Savings FundAditya Birla Sun Life Mutual Fund · 11.9 yrs | B | 7.7% | -0.4% | 1.68% | ₹1,130 cr |
| Kotak Equity Savings FundKotak Mahindra Mutual Fund · 12.1 yrs | B | 8.8% | +0.7% | 2.13% | ₹10,195 cr |
| UTI - Equity Savings FundUTI Mutual Fund · 8.2 yrs | B | 7.8% | -0.3% | 2.06% | ₹796 cr |
| Franklin India Equity Savings FundFranklin Templeton Mutual Fund · 8.2 yrs | B | 6.8% | -1.3% | 1.60% | ₹550 cr |
| HDFC Equity Savings FundHDFC Mutual Fund · 20.6 yrs | B | 8.0% | -0.1% | 2.19% | ₹5,448 cr |
| Bandhan Equity Savings FundBandhan Mutual Fund · 18.4 yrs | B | 6.5% | -1.6% | 1.56% | ₹375 cr |
| Axis Equity Savings FundAxis Mutual Fund · 11.2 yrs | B | 8.7% | +0.6% | 2.68% | ₹847 cr |
| Mahindra Manulife Equity Savings FundMahindra Manulife Mutual Fund · 9.7 yrs | B | 8.0% | -0.1% | 2.82% | ₹515 cr |
| Baroda BNP Paribas Equity Savings FundBaroda BNP Paribas Mutual Fund · 7.3 yrs | B | 8.5% | +0.4% | 2.83% | ₹268 cr |
| PGIM India Equity Savings FundPGIM India Mutual Fund · 10.7 yrs | C | 6.3% | -1.8% | 1.77% | ₹61 cr |
| Union Equity Savings FundUnion Mutual Fund · 8.2 yrs | C | 6.8% | -1.3% | 2.58% | ₹113 cr |
| Invesco India Equity Savings FundInvesco Mutual Fund · 7.7 yrs | C | 7.4% | -0.7% | 2.96% | ₹262 cr |
| Sundaram Equity Savings Fund (Formerly Known as Principal Equity Savings Fund)Sundaram Mutual Fund · 4.8 yrs | C | 7.5% | -0.6% | 2.82% | ₹910 cr |
| LIC MF Equity Savings FundLIC Mutual Fund · 3.3 yrs | C | 7.7% | -0.4% | 2.80% | ₹38 cr |
| Bajaj Finserv Equity Savings FundBajaj Finserv Mutual Fund · 1.2 yrs | – | – | – | 2.19% | ₹40 cr |
| WhiteOak Capital Equity Savings FundWhiteOak Capital Mutual Fund · 1.7 yrs | – | – | – | 2.97% | ₹270 cr |
| quant Equity Savings Fundquant Mutual Fund · 1.3 yrs | – | – | – | 3.50% | ₹59 cr |
Direct plans (22)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| Edelweiss Equity Savings FundEdelweiss Mutual Fund · 9.9 yrs | A+ | 11.3% | +3.1% | 1.10% | ₹1,757 cr |
| HSBC Equity Savings FundHSBC Mutual Fund · 3.9 yrs | A | 13.2% | +5.0% | 1.38% | ₹1,611 cr |
| Mirae Asset Equity Savings FundMirae Asset Mutual Fund · 7.9 yrs | A | 10.8% | +2.6% | 0.72% | ₹1,974 cr |
| UTI - Equity Savings FundUTI Mutual Fund · 8.2 yrs | A | 8.8% | +0.7% | 1.04% | ₹796 cr |
| Mahindra Manulife Equity Savings FundMahindra Manulife Mutual Fund · 9.7 yrs | A | 9.8% | +1.7% | 1.30% | ₹515 cr |
| DSP Equity Savings FundDSP Mutual Fund · 10.6 yrs | A | 8.9% | +0.8% | 1.15% | ₹2,992 cr |
| Kotak Equity Savings FundKotak Mahindra Mutual Fund · 12.1 yrs | B | 10.0% | +1.9% | 1.08% | ₹10,195 cr |
| Aditya Birla Sun Life Equity Savings FundAditya Birla Sun Life Mutual Fund · 11.9 yrs | B | 8.3% | +0.1% | 1.20% | ₹1,130 cr |
| Bandhan Equity Savings FundBandhan Mutual Fund · 12.8 yrs | B | 7.5% | -0.6% | 0.66% | ₹375 cr |
| Franklin India Equity Savings FundFranklin Templeton Mutual Fund · 8.2 yrs | B | 7.6% | -0.5% | 0.81% | ₹550 cr |
| Axis Equity Savings FundAxis Mutual Fund · 11.2 yrs | B | 10.1% | +1.9% | 1.54% | ₹847 cr |
| HDFC Equity Savings FundHDFC Mutual Fund · 13.8 yrs | B | 9.0% | +0.9% | 1.30% | ₹5,448 cr |
| SBI Equity Savings FundSBI Mutual Fund · 11.4 yrs | B | 8.2% | +0.0% | 1.43% | ₹5,333 cr |
| Baroda BNP Paribas Equity Savings FundBaroda BNP Paribas Mutual Fund · 7.3 yrs | B | 9.7% | +1.6% | 1.68% | ₹268 cr |
| Invesco India Equity Savings FundInvesco Mutual Fund · 7.7 yrs | C | 9.0% | +0.9% | 1.50% | ₹262 cr |
| PGIM India Equity Savings FundPGIM India Mutual Fund · 10.7 yrs | C | 7.1% | -1.1% | 1.13% | ₹61 cr |
| Sundaram Equity Savings Fund (Formerly Known as Principal Equity Savings Fund)Sundaram Mutual Fund · 4.8 yrs | C | 9.2% | +1.0% | 1.34% | ₹910 cr |
| Union Equity Savings FundUnion Mutual Fund · 8.2 yrs | C | 7.3% | -0.9% | 2.12% | ₹113 cr |
| LIC MF Equity Savings FundLIC Mutual Fund · 3.3 yrs | C | 8.8% | +0.6% | 1.83% | ₹38 cr |
| Bajaj Finserv Equity Savings FundBajaj Finserv Mutual Fund · 1.2 yrs | – | – | – | 1.01% | ₹40 cr |
| WhiteOak Capital Equity Savings FundWhiteOak Capital Mutual Fund · 1.7 yrs | – | – | – | 1.52% | ₹270 cr |
| quant Equity Savings Fundquant Mutual Fund · 1.3 yrs | – | – | – | 1.89% | ₹59 cr |
Common questions
What does a equity savings fund invest in?
SEBI requires equity savings funds to invest at least 65% in equities, much of it hedged with arbitrage, at least 10% in debt.
How many equity savings funds beat their index over 3 years?
6 of 19 equity savings funds (Regular plans with 3 years of history) beat their composite benchmark (35% Nifty 50 TRI + 65% liquid 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.