Mutual Fund Screener Version 7.0

Use this tool to automatically screen mutual funds based on returns and create a shortlist of consistent performers. The updated version corrects a bug and now includes Benchmark 1 to 12 year CAGRs.

The tool grabs annual returns data from value research for different categories and calculates

  • 12,11,10,9,8,7,6,5,4,3,2 and 1 year returns (CAGR corresponding to lump sum investments)
  • Readers who use the mutual fund selection guide in particular,  How to select an equity mutual fund – Creating a shortlist  will realise that VR online had removed the 7-year return option. Hopefully, this sheet will remove that dependence on VR for Excel users.   
  • The user can input a reference rank, say 15. Then the  number of times, funds have got a return rank below 15 is computed and consistency score is evaluated. Call this shortlist-1
  • Alternatively, funds which have consistently beat category average for 1,2,3 …12-year returns is also computed. Call this shortlist-2
  • The funds common to both shortlists can then be further evaluated with benchmarks.
  • The number of times the funds annual returns were above category average annual returns is also computed. Call this shortlist-3
  • The user gets a list of consistent performers in terms of peer rank in about 15-20 seconds!

Screenshots

mutual-fund-screener-new-1

The inputs screen where the category and the reference rank (15) has to be chosen

mutual-fund-screener-new-2

Funds common to shortlist-1 and shortlist-2 can be compared with various benchmarks here either directly or graphically (below)

mutual-fund-screener-new-3

mutual-fund-screener-new-4

The comparison with benchmarks can also be done with annual returns

How to use video:  How to select an equity mutual fund in 30 minutes!

Note:

  1. This screener is meant to be used while choosing a new mutual fund and not for performance evaluation.
  2. The return that you have got will be quite different from the annual returns used here.
  3. This is a method to create a shortlist and not ch0ose funds.
  4. The risk associated with consistent performance will have to be separately evaluated.
  5. I suggest that you calculate the downside risk for the funds in your shortlist with this tool: Mutual Fund Downside Protection Calculator and choose a fund with a consistently low downside capture ratio.
  6. Alternatively, the Mutual Fund SIP and Lump Sum Rolling Returns Calculators can also be used.
  7. Although the standard past performance disclaimer applies, there is merit in using this method because of these results: Mutual Fund Investing: Does Past Performance Matter?

Note: VR has made it necessary to login to see returns. Therefore, please do the following:

  1. Open blank excel
  2. Select Data in the menu
  3. Click get external data and then from web
  4. Excel will open an internet browser-like window (basically a box where you enter a url)  and there will be annoying script error messages. Dismiss them.
  5. Then Go to VR online in that window and go to  the main page. There will be annoying messages. Dismiss them.
  6. Click on login. If you are not able to do so. Stop the page from downloading and then click login
  7. Login with your email (preferable) and click on remember me.
  8. Now you can exit the browser window and start using the screener. It should work fine now.

Update: July 2018: Version 7 All latest versions are here: Download New Versions: Mutual Fund Lump sum & SIP Screeners

Download Version 6 of the screener (Aug 2016 for windows Excel)

Download the freefincal mutual fund screener (May 2016 windows Excel)

Download the Mac Excel freefincal mutual fund screener (May 2016 Mac Excel)

A google sheets edition without some features is also available Mutual Fund Screener- Google Sheets Edition

Change log

Download the Automated Mutual Fund Screener (Jan 2016)

Thanks to Jignesh Bhavishi for pointing out a mistake (now corrected)

As suggested by Manoj Kumar Idam, instead of shortlisting with CAGR, the annual returns are used. This ensures the each data point is independent of each other.
Update: Version 3.1

Recent changes to VR categories have been incorporated.

The Equity: Mid and Small Cap Category has been split into Equity: Mid Cap and Equity: Small Cap.  Anish Mohan pointed out this change earlier. When he did, the Excel data query was not affected. Now, the change has been incorporated and this update is necessary. Thanks Anish.

Thanks to Omkara V. Balapa for pointing out a mistake (now corrected)

Thanks to Rajnish Ahuja for pointing out a mistake (now corrected)

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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman is the co-author of two books: You can be rich too with goal based investing and Gamechanger. “Pattu” as he is popularly known, publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis, including a robo advisory template for use by beginners. Contact information: freefincal {at} Gmail {dot} com He conducts free money management sessions for corporates (see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints.

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Updated: July 17, 2018 — 9:40 pm

56 Comments

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  1. That makes it simple..i guess because I’m yet to use it. How significant is the portfolio P/E?

    1. “simple..i guess because I’m yet to use it”!!
      I do not worry about mf PE

  2. That makes it simple..i guess because I’m yet to use it. How significant is the portfolio P/E?

    1. “simple..i guess because I’m yet to use it”!!
      I do not worry about mf PE

  3. I went through this post many times, but somehow I am unable to figure out the link to download this Excel file from. Could someone please post it here?

    1. Can you not see: “Download the Automated Mutual Fund Performance Evaluator and Shortlister”

      1. sorry! all your links are blue in color. but this “Download …. Shortlister” is in black. check it out !!

  4. I went through this post many times, but somehow I am unable to figure out the link to download this Excel file from. Could someone please post it here?

    1. Can you not see: “Download the Automated Mutual Fund Performance Evaluator and Shortlister”

      1. sorry! all your links are blue in color. but this “Download …. Shortlister” is in black. check it out !!

        1. Thanks, I had difficulty last time as it wasn’t it blue and did not have an underline. Somehow this time I was able to locate it even before I came to the comments.

  5. Could we have the same calculator the ranks the funds on returns with SIPs instead of lumpsum ?
    Thanks.

  6. Could we have the same calculator the ranks the funds on returns with SIPs instead of lumpsum ?
    Thanks.

    1. Do you know of any portal which gives you this infomation?

      1. SIP return calculator on Value Research Online on above link page.

  7. apologies but still cant locate the link. would appreciate if you can paste it as a comment. Cheers.

  8. I am getting error when click on clik to download button in excel.

    saying unable to download from http://value….

    how can I use this?

  9. Pattu sir, Nice calculator.

    When i select the liquid fund category , In the last page it cant give me consistent score for beating category average.

    I get #VALUE!

    Pls let me know whether am giving any of the inputs wrong

    1. I re-uploaded the file after correcting that error. Let me know if it worked.

  10. If you are trying from work, there could be a firewall. Please try from and let me know.

  11. I get an error when running. Says “Runtime error ‘1004’. Unable to download. “, a VROnline URL ending with /returns.asp and ” Cannot download the information you requested.”

    1. sheet works fine. If you are trying from work, could be a firewall problem.

  12. Why not build a logic where you can build a mutual fund portfolio based on model portfolio theory and give an optimum portfolio for each risk category …

  13. Hello Sir,

    I have gone through the post “Step-by-Step Guide to Selecting a Mutual Fund”. It was very nice and informative. After that i have downloaded “Download the Automated Mutual Fund Screener”. I could not understand “Reference rank for grading funds” while using this calculator.

    Can you please explain this term.

    Thanks
    Himanshu

    1. If the reference rank is 15, then the number of times in this data set: 12,11,10,9,8,7,6,5,4,3,2 and 1 year returns, the funds that have got a return rank below 15 is computed and consistency score is evaluated.

  14. Consistency score of 100% with return rank below 15 — means the fund has been very volatile and has many times sank below top 15 funds for that duration…

    Is my thinking correct that we have to select fund with lower consistency score?

  15. Looking at funds in top consistency range of 100% — it seems my thinking and logic is not correct….

    When u get time, do explain what does high consistency mean?

    Thanks Pattu sir

    1. 100% in being top 15 funds in terms of return rank. So it is a good thing!

  16. First of all – I like it, because it has automated what I was generally following manually. However, I am unable to get the tool to work.
    I tried all the tricks including what you had provided – about opening a blank excel sheet, getting into data, going to VR online, logging in, dismissing and closing that before trying the Input sheet in the calculator.

    Would appreciate any help to get the calculator to pull the data.

    I get an error when running. Says “Runtime error ‘1004’. Unable to download. “, a VROnline URL ending with /returns.asp.
    I do not have the option of Continue enabled – It asks me to either End, Debug…

    Note: I am operating from home. I have installed Kaspersky Internet Security. I am on Windows 7. I am using Office 2013.

  17. In downside protection, I can not find all shortlisted funds in your dropdown menu.

  18. I tried all the options including what you had provided – about opening a blank excel sheet, getting into data, going to VR online, logging in, dismissing and closing that before trying the Input sheet in the calculator.

    Would appreciate any help to get the calculator to pull the data.

    I get an error when running. Says “Runtime error ‘1004’. Unable to download. “, a VROnline URL ending with /returns.asp.
    I do not have the option of Continue enabled – It asks me to either End, Debug…

    Note: I am operating from home. I have installed Kaspersky Internet Security. I am on Windows 7. I am using Office 2013.

  19. (1) You appear to have corrected some bugs in the freefincal mutual fund screener (May 2016 windows Excel). Where is the corrected version available – in the link provided in “this” post or in the link provided in the post “How to select an equity mutual fund in 30 minutes!” or “somewhere else”?
    (2) Whether “reference rank” in Input Sheet is supposed to be “variable”? If so, it is in conflict with the hard coding of “15” done everywhere else in the macro as well as various sheets.
    (3) The average returns in sheet “Evaluate” are not the category returns but the “average of common funds in two shortlists + various index returns”.
    (4) Perhaps you may be referring to these bugs. Please send me the actual link to corrected screener.

  20. Seriously best till date… Consistency analysis… Thanks a lot for creating and put it for larger public gain.. Thanks once again

  21. How to use mutualfund screener. I wanted to make list of banking sector. I went upto Click get external data and then from web
    Excel will open an internet browser-like window (basically a box where you enter a url)
    How to get VR Online???

  22. Run time error
    “Unable to open VR….” Cannot download the information requested.
    Can not post the screenshot since attachment upload is not available.

    1. Did you login to VR via Excel before trying?

  23. Yes, by opening another blank excel and following the steps described.

    1. I just tried it and it works fine. If you are trying from work, it may not work. Also this is a windows version.

  24. “If you are trying from work, it may not work.” – I did not get.
    OS: Windows 10; Excel 2013

    1. Sorry I meant if you are using from office or behind a firewall it may not work.

  25. I am able to login to VR through get data from web option. Then is firewall an issue.

    1. Probably. I do not know.

  26. Run time error
    “Unable to open VR….” Cannot download the information requested.

  27. I am stuck at the ‘shortlist-category median’ sheet. There are around 25 funds (large cap) which have 100% consistency in beating the category median. Issue here is that for the next sheet ‘Evaluate’, only first 15 of these funds (which for the same consistency are sorted in alphabetical order) are taken. So the funds which have names starting with ‘Q’ or a latter letter miss this shortlist despite having the same consistency in beating the category median.
    I am using the August 2016 version of the screener.

  28. Sir, thank you for the screener. I observed one mismatch in the downside protection sheet.
    when it is taking the benchmark returns, I think there is a lag of 1 column. for example, for sensex the return for 2004 is 12.43%. But that return is shown in 2005 in the column of comparison. (cell B9 has 12.43% for 2005, but cell T27 has 41.82% for 2005. 12.43% is actually the return for 2004, as per S27)
    Similarly, the return for 2008 is -52.53%. but in the column of comparison its being shown in 2009.

  29. is it still working, it always return JP Morgan India Mid and Small Cap Fund whatever i give input.

    1. JP morgan?! Yes it is still working. I just checked.

  30. Yes !!! It is only giving one result in all cases JP Morgan India Mid and Small Cap Fund.

    It was working fine few days back and suddenly it started giving only one result.

    what could be the reason?

  31. On downside protection tab, cell B9 and similar should have the formula =INDEX($Q$27:$AD$37,MATCH($A$9,$Q$27:$Q$37,0),B1+2) instead of =INDEX($Q$27:$AD$37,MATCH($A$9,$Q$27:$Q$37,0),B1+1).

  32. Downside Protection doesn’t have the latest benchmark data i.e 2016’s. And as others pointed out there is problem with comparison with different year.

  33. Thanks for the good work! The EXCEL sheet was working very well till yesterday on the same computer however it is not working anymore. I get only single “JP Morgan” regardless of input parameters. No error being shown but no data either. Can you please advise?

  34. I am a Rtd., Govt.servant. Since the financial year is near ending, I request you to kindly advise the best equity oriented ELSS funds for investing in this FY., keeping in view of their future performance for the ensuing 3 years lock-up period., Kindly suggest the LCGT being imposed on the said investments like ELSS funds as presented in the recent Parliament Budget sessions

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