Scheme data
Put three schemes side by side.
What each one is legally required to hold, how its gains are taxed, and the facts AMFI publishes — lined up so you can read them in one place. Nothing is ranked and nothing is recommended.
A higher NAV does not mean a scheme is expensive
This is the most common misreading of the table above, so it is worth being plain about. Net asset value is the value of one unit. A scheme with a NAV of ₹450 is not dearer than one at ₹15 — you simply receive fewer units for the same money, each worth more. ₹10,000 buys 22.2 units of the first and 666.7 of the second, and both are ₹10,000.
What NAV reflects is mostly how long the scheme has existed and what has happened since. It is not a price tag, not a discount, and not a measure of whether a scheme is doing well. Two schemes holding identical portfolios can have very different NAVs.
The figures that do tell you something — returns over standard periods against the scheme's benchmark, expense ratio, portfolio holdings, the risk-o-meter — are published by each AMC in its own scheme documents and monthly factsheet. Those are the authoritative source, and they are free to read.
Where "what it must hold" comes from
Every scheme sits in a category, and SEBI decides what a scheme in that category is allowed to own. A Large Cap Fund must keep at least 80% of its money in the hundred biggest listed companies. A Liquid Fund may hold nothing maturing more than 91 days out. Those are not house views or preferences — they are conditions of being called that at all, and they shape the outcome far more than anything else on this page.
The wording in that row is our plain-English restatement of SEBI's scheme categorisation circular of 26 February 2026, which replaced the 2017 framework and gave existing schemes six months to align. It is a summary for reading, not a quotation, and the circular itself governs. Where a scheme's category is not one of the standard ones, the row says so rather than guessing.
Tax treatment is the position as at 14 September 2026. Where a category can sit either side of the equity threshold — balanced hybrids, dynamic asset allocation, multi asset — we say the treatment is unsettled rather than picking the likelier answer, because it turns on what the scheme actually held, not on its name.
Why there are no returns on this page
We are an AMFI registered mutual fund distributor, not a SEBI registered investment adviser. A distributor may not publish its own performance comparisons of named schemes without the prior written approval of each fund house concerned, and we do not hold those approvals. So this page stops where our permissions stop.
It is also the honest place to stop. A returns column invites you to pick the biggest number, and the biggest number over the last three years is not a reason to buy anything. Which category suits the money, how long it is being left, and what happens if it falls by a third — those questions come first, and none of them is answered by a table.
Scheme data is sourced from AMFI and refreshed nightly. Net asset values are published once each business day, usually late in the evening, and are historical figures rather than live prices. They are reproduced here for information and are not an offer to transact at that value. Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not indicative of future results.
What each mutual fund category must hold
Every open-ended mutual fund in India sits in one of the categories SEBI defines, and each category carries a minimum it is obliged to hold. It is not a description of what a fund manager intends — it is the rule the scheme is bound by. Below is every category, in plain English, with how gains on it are taxed.
| Category | What it must hold | How gains are taxed |
|---|---|---|
| Large & Mid Cap Fund | At least 35% in large cap companies and at least 35% in mid caps. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Multi Cap Fund | At least 75% in equity, split with a minimum of 25% each in large, mid and small caps. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Flexi Cap Fund | At least 65% in equity, with the manager free to move between large, mid and small caps. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Large Cap Fund | At least 80% in large cap companies — the top 100 by market capitalisation. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Mid Cap Fund | At least 65% in mid cap companies — those ranked 101st to 250th by market capitalisation. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Small Cap Fund | At least 65% in small cap companies — those ranked 251st and below by market capitalisation. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Dividend Yield Fund | At least 80% in equity, predominantly in dividend-yielding stocks. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Value Fund | At least 80% in equity, following a value investment strategy. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Contra Fund | At least 80% in equity, following a contrarian strategy. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Focused Fund | At least 80% in equity, held in no more than 30 stocks. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| ELSS — Tax Saver Fund | At least 80% in equity, with each investment locked in for three years. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Sectoral / Thematic Fund | At least 80% in equity of one sector or one theme, so it rises and falls with that sector rather than the market. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Aggressive Hybrid Fund | Between 65% and 80% in equity, the rest in debt. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Conservative Hybrid Fund | Between 10% and 25% in equity, and between 75% and 90% in debt. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Balanced Hybrid Fund | Between 40% and 60% in equity and the same band in debt, with no arbitrage permitted. | Taxation depends on how much the scheme actually holds in domestic equity, which moves within the permitted band. It is not settled by the category alone, so check the scheme document or ask us rather than assuming either treatment. |
| Arbitrage Fund | At least 65% in equity, held as arbitrage positions rather than as a directional bet on the market. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Equity Savings Fund | At least 65% in equity of which only 15% to 40% is unhedged, and at least 10% in debt. | Taxed as an equity-oriented fund: gains on units held over 12 months are long-term, at 12.5%, with the first ₹1,25,000 of equity long-term gains in a financial year exempt across all your schemes together. Held 12 months or less, 20%. |
| Dynamic Asset Allocation Fund | Moves between equity and debt at the manager's discretion, with no fixed floor on either. | Taxation depends on how much the scheme actually holds in domestic equity, which moves within the permitted band. It is not settled by the category alone, so check the scheme document or ask us rather than assuming either treatment. |
| Multi Asset Allocation Fund | Holds at least three asset classes, with a minimum of 10% in each. | Taxation depends on how much the scheme actually holds in domestic equity, which moves within the permitted band. It is not settled by the category alone, so check the scheme document or ask us rather than assuming either treatment. |
| Overnight Fund | Holds only securities maturing in one day. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Liquid Fund | Holds only debt and money market securities maturing within 91 days. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Money Market Fund | Holds money market instruments maturing within one year. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Ultra Short Duration Fund | Portfolio duration held to a few months, so it moves very little when rates change. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Low Duration Fund | Portfolio duration held under a year. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Short Duration Fund | Portfolio duration held between one and three years. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Medium to Long Duration Fund | Portfolio duration held between four and seven years. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Medium Duration Fund | Portfolio duration held between three and four years. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Long Duration Fund | Portfolio duration above seven years, so it is the most sensitive to rate changes. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Dynamic Bond Fund | Invests across durations, moving as the manager's view of rates changes. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Corporate Bond Fund | At least 80% in corporate bonds rated AA+ and above. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Credit Risk Fund | At least 65% in corporate bonds rated AA and below — higher yield, and a real chance of default. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Banking and PSU Fund | At least 80% in debt issued by banks, public sector undertakings and public financial institutions. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| 10-Year Constant Maturity Gilt Fund | Holds government securities kept at a constant ten-year maturity. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Gilt Fund | At least 80% in government securities, so there is no credit risk but full interest rate risk. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Floater Fund | At least 65% in floating rate instruments, whose coupons reset as rates move. | Taxed as a specified fund: units bought on or after 1 April 2023 are treated as short-term however long they are held, and the gain is added to your income and taxed at your slab rate. |
| Index Fund / ETF | At least 95% in the securities of the index it tracks. It does not try to beat the index. | Depends on what the scheme actually holds — an equity-oriented one is taxed as equity, a debt-oriented one as debt. Check the scheme document. |
| Fund of Funds | At least 95% in the underlying fund or funds it is built on. | Depends on what the scheme actually holds — an equity-oriented one is taxed as equity, a debt-oriented one as debt. Check the scheme document. |
| Retirement Fund | A solution-oriented scheme with a lock-in of five years or until retirement, whichever is earlier. | Taxation depends on how much the scheme actually holds in domestic equity, which moves within the permitted band. It is not settled by the category alone, so check the scheme document or ask us rather than assuming either treatment. |
| Children's Fund | A solution-oriented scheme with a lock-in of five years or until the child is of age, whichever is earlier. | Taxation depends on how much the scheme actually holds in domestic equity, which moves within the permitted band. It is not settled by the category alone, so check the scheme document or ask us rather than assuming either treatment. |
A plain-English restatement of SEBI’s scheme categorisation circular of 26 February 2026, not a quotation from it. Tax treatment as last verified on 14 September 2026 for AY 2026-27. Tax rules change; check the current position before acting on any of it.