This article categorizes mutual funds based on relative performance, highlighting those offering lower returns at higher risk which can be potentially avoided by investors.
Note: Domestic index funds tracking broad indices like the Nifty 50 or Sensex will generally not be found in a table of worst performing mutual funds. Since index funds give “average” return, their position will always be above the worst performers in their respective category. For the same reason, they will not be found in the best performing fund lists as well.
The fund categories in this article are as per AMFI classification. The performance figures are from AMFI website. All funds in this article are of the Direct Growth Category: Do not make this mistake when investing in mutual funds.
Please use the find feature of your browser to locate the funds or categories you are interested in.
Worst performing types of funds
Worst debt funds category-wise
Category
Fund count
Average
Max
Min
Liquid Fund
32
7.07%
7.24%
6.73%
Overnight Fund
30
6.72%
7.17%
6.41%
Banking and PSU Fund
22
7.05%
7.71%
6.52%
Ultra Short Duration Fund
21
7.21%
7.53%
6.37%
Short Duration Fund
21
7.34%
8.10%
6.43%
Money Market Fund
21
7.34%
7.64%
6.70%
Gilt Fund
21
7.55%
8.83%
6.06%
Dynamic Bond
20
7.28%
8.62%
6.25%
Low Duration Fund
19
7.37%
7.73%
7.05%
Corporate Bond Fund
19
7.19%
7.83%
6.49%
Medium Duration Fund
14
7.35%
8.04%
6.34%
Medium to Long Duration Fund
12
7.70%
11.32%
6.66%
Credit Risk Fund
12
8.87%
16.57%
6.79%
Floater Fund
10
7.78%
8.46%
7.32%
Long Duration Fund
5
7.78%
8.30%
7.32%
Gilt Fund with 10 year constant duration
4
7.80%
7.92%
7.60%
Worst equity funds category-wise
Category
Fund count
Average
Max
Min
Sectoral/ Thematic
108
33.92%
61.50%
1.67%
ELSS
36
29.10%
39.06%
19.85%
Large Cap Fund
29
25.65%
33.23%
18.06%
Flexi Cap Fund
29
29.83%
41.55%
20.73%
Mid Cap Fund
27
39.52%
49.76%
22.47%
Large & Mid Cap Fund
27
31.84%
40.01%
24.18%
Focused Fund
24
28.22%
36.29%
18.36%
Small Cap Fund
23
43.55%
60.03%
25.85%
Value Fund
18
36.42%
48.68%
27.61%
Multi Cap Fund
18
34.98%
41.93%
23.31%
Dividend Yield Fund
7
38.10%
41.41%
34.51%
Contra Fund
2
33.58%
36.86%
30.29%
Worst hybrid funds category-wise
Category
Fund count
Average
Max
Min
Aggressive Hybrid Fund
26
22.53%
35.47%
15.49%
Dynamic Asset Allocation or Balanced Advantage
24
20.20%
32.13%
15.21%
Arbitrage Fund
24
7.62%
8.07%
6.65%
Equity Savings
21
14.50%
18.13%
8.96%
Conservative Hybrid Fund
17
11.60%
15.40%
8.26%
Multi Asset Allocation
8
21.85%
30.21%
14.36%
Balanced Hybrid Fund
1
18.94%
18.94%
18.94%
Worst “other” funds category-wise
Category
Fund count
Average
Max
Min
FoF Overseas
48
22.64%
67.00%
-9.46%
Index Funds
121
21.16%
63.34%
6.81%
FoF Domestic
70
19.15%
93.16%
-5.64%
Retirement Fund
27
21.36%
39.85%
6.40%
Children’s Fund
6
22.70%
31.47%
14.72%
In the sections below, we will pick up up to 3 worst performers in the same category.
Funds: worst performing debt mutual funds
Category: Liquid Fund
Fund (category avg = 7.07%
2023 return
Motilal Oswal Liquid Fund
6.73%
Parag Parikh Liquid Fund
6.73%
ITI Liquid Fund Option
6.84%
Category: Overnight Fund
Fund (category avg = 6.72%
2023 return
Groww Overnight Fund
6.41%
ITI Overnight Fund Option
6.50%
Franklin India Overnight Fund
6.65%
Category: Banking and PSU Fund
Fund (category avg = 7.05%
2023 return
Canara Robeco Banking and PSU Debt Fund
6.52%
Edelweiss Banking and PSU Debt Fund
6.74%
Mirae Asset Banking and PSU Fund
6.79%
Category: Ultra Short Duration Fund
Fund (category avg = 7.21%
2023 return
LIC MF Ultra Short Duration Fund
6.37%
Motilal Oswal Ultra Short Term Fund
6.48%
BANK OF INDIA Ultra Short Duration Fund
6.69%
Category: Short Duration Fund
Fund (category avg = 7.34%
2023 return
BANK OF INDIA Short Term Income Fund
6.43%
Groww Short Duration Fund
6.63%
JM Short Duration Fund
6.98%
Category: Money Market Fund
Fund (category avg = 7.34%
2023 return
LIC MF Money Market Fund
6.70%
Union Money Market Fund
7.03%
Baroda BNP Paribas Money Market Fund
7.09%
Category: Gilt Fund
Fund (category avg = 7.55%
2023 return
Franklin India Government Securities Fund
6.06%
HSBC Gilt Fund
6.91%
Edelweiss Government Securities Fund
6.94%
Category: Dynamic Bond
Fund (category avg = 7.28%
2023 return
Groww Dynamic Bond Fund
6.25%
JM Dynamic Bond Fund
6.66%
Union Dynamic Bond Fund
6.75%
Category: Low Duration Fund
Fund (category avg = 7.37%
2023 return
JM Low Duration Fund
7.05%
Invesco India Treasury Advantage
7.19%
LIC MF Low Duration Fund
7.19%
Category: Corporate Bond Fund
Fund (category avg = 7.19%
2023 return
Sundaram Corporate Bond Fund
6.49%
Union Corporate Bond Fund
6.74%
Mirae Asset Corporate Bond Fund
6.75%
Category: Medium Duration Fund
Fund (category avg = 7.35%
2023 return
Sundaram Medium Term Bond Fund
6.34%
Union Medium Duration Fund
6.98%
UTI Medium Duration Fund Option
7.14%
Category: Medium to Long Duration Fund
Fund (category avg = 7.70%
2023 return
BANDHAN Bond Fund - Income Plan
6.66%
UTI Medium to Long Duration Fund
6.81%
HSBC Medium to Long Duration Fund
6.99%
Category: Credit Risk Fund
Fund (category avg = 8.87%
2023 return
BANDHAN Credit Risk Fund
6.79%
HDFC Credit Risk Debt Fund Option
7.27%
HSBC Credit Risk Fund
7.34%
Category: Floater Fund
Fund (category avg = 7.78%
2023 return
UTI Floater Fund
7.32%
Tata Floating Rate Fund
7.43%
Nippon India Floating Rate Fund
7.50%
Category: Long Duration Fund
Fund (category avg = 7.78%
2023 return
ICICI Prudential Long Term Bond Fund
7.32%
Nippon India Nivesh Lakshya Fund
7.58%
Axis Long Duration Fund
7.72%
Category: Gilt Fund with 10 year constant duration
Fund (category avg = 7.80%
2023 return
BANDHAN Government Securities Fund - Constant Maturity
7.60%
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Funds: worst performing equity mutual funds
Category: Sectoral/ Thematic
Fund (category avg = 33.92%
2023 return
ITI Banking and Financial Services Fund Option
16.85%
Taurus Banking & Financial Services Fund
16.88%
ICICI Prudential Banking and Financial Services
18.86%
Category: ELSS
Fund (category avg = 29.10%
2023 return
Aditya Birla Sun Life ELSS
19.85%
PGIM India ELSS
21.26%
Axis ELSS
22.89%
Category: Large Cap Fund
Fund (category avg = 25.65%
2023 return
LIC MF Large Cap Fund
18.06%
Axis Bluechip Fund
18.54%
Mirae Asset Large Cap Fund
19.65%
Category: Flexi Cap Fund
Fund (category avg = 29.83%
2023 return
UTI - Flexi Cap Fund
20.73%
Axis Flexi Cap Fund
21.44%
PGIM India Flexi Cap Fund
21.66%
Category: Mid Cap Fund
Fund (category avg = 39.52%
2023 return
PGIM India Midcap Opportunities Fund
22.47%
Axis Midcap Fund
31.00%
UTI Mid Cap Fund
31.73%
Category: Large & Mid Cap Fund
Fund (category avg = 31.84%
2023 return
Tata Large & MId Cap Fund
24.18%
Navi Large & Midcap Fund Option
25.80%
Axis Growth Opportunities Fund
27.71%
Category: Focused Fund
Fund (category avg = 28.22%
2023 return
Axis Focused 25 Fund Option
18.36%
Mirae Asset Focused Fund
18.58%
Motilal Oswal Focused 25 Fund
20.19%
Category: Small Cap Fund
Fund (category avg = 43.55%
2023 return
PGIM India Small Cap Fund
25.85%
SBI Small Cap Fund
26.62%
Axis Small Cap Fund
35.57%
Category: Value Fund
Fund (category avg = 36.42%
2023 return
Quantum Long Term Equity Value Fund
27.61%
UTI Value Fund Option
27.63%
HDFC Capital Builder
30.73%
Category: Multi Cap Fund
Fund (category avg = 34.98%
2023 return
Sundaram Multi Cap Fund
23.31%
SBI Multicap Fund option
23.63%
Aditya Birla Sun Life Multi-Cap Fund
29.94%
Category: Dividend Yield Fund
Fund (category avg = 38.10%
2023 return
Templeton India Equity Income Fund
34.51%
Sundaram Dividend Yield Fund
35.70%
UTI-Dividend Yield Fund
36.27%
Category: Contra Fund
Fund (category avg = 33.58%
2023 return
Invesco India Contra Fund
30.29%
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This post titled The worst performing mutual funds of 2023: are you invested in these funds? first appeared on 03 Jan 2024 at https://arthgyaan.com
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