June 2019 Equity Mutual Fund Performance Screener

Last Updated on

The freefincal Equity Mutual Fund Performance Screener (June 2019) is available for download. Use this screener file to easily find best-performing equity funds among 300 equity funds that have consistently outperformed category benchmarks/indices with good downside protection (better performance when the index is down)  and/or upside performance (better performance when the index is up). This screener is meant for DIY investors to select a mutual fund (not review existing holdings).  The  PlumbLine” is a set of handpicked mutual funds intended for the new investor to quickly get started when they use the  Freefincal Robo Advisory Software Template.

Best Equity Mutual Funds Screener June 2019

What does this Equity Mutual Fund Performance Screener cover?

It gives you three outputs:

  • Rolling return outperformance consistency That is over every possible 1Y,2Y,3Y,4Y, 5Y periods, the fund returns are compared with category benchmark returns. Higher the outperformance consistency, the better. Suppose 876 fund returns were compared with 876 benchmark returns and the fund has beaten the benchmark 675 times, the consistency score will be 675/876 ~ 77%.
  • The above number is now also reported for the past year
  • Upside performance consistency over 1Y,2Y,3Y,4Y, 5Y: Higher the better. A score of 70% means, 7 out of 10 times, the fund performed better than the category benchmark when the benchmark was moving upThis is a measure of reward.
  • Downside performance consistency over 1Y,2Y,3Y,4Y, 5Y: Higher the better. A score of 60% means, 6 out of 10 times, the fund performed better than the category benchmark when the benchmark was moving down. This is a measure of risk protection.

When to use this mutual fund screener

I recommend using this file only when you are on the lookout for a new fund after completing the following steps: Define need and duration —-> Decide asset allocation (use this tool) —-> Decide product category (use this guideline for mutual funds) —-> Then apply this screener for equity funds. Since the debt mutual fund space is continually shifting and a qualitative search is necessary, I believe it is dangerous to build a debt mutual fund screener and therefore will not. If you open the screener file, you see column headings such as this. Some of the columns in the consistent equity fund screenerYou know the fund category; benchmark; Fund name; no of 1Y returns of the benchmark(index); no of 1Y returns of the fund; no of times the fund 1Y return is above index 1Y return; the 1Y rolling return consistency; upside performance consistency and downside protection consistency. These columns are repeated for 2Y,3Y,4Y and 5Y. Now you can screen by filtering out funds that have return outperformance consistency of >=70% a downside protection consistency >= 70% and so on. You can do this manually with the excel filter buttons on use the macro buttons as shown below. The main page of the equity fund consistency screener where you can screen with the help of a couple of clicks

Benchmarks Used

These are benchmarks that are closest to the fund type and are used by many funds in each category. 

CategoryBenchmark
Aggressive Hybrid FundNifty 100 TRI
Contra FundNifty 100 TRI
Dividend Yield FundNifty 100 TRI
Large Cap FundNifty 100 TRI
ELSSNifty Largemidcap 250 TRI
Focussed FundNifty Largemidcap 250 TRI
Large & Mid Cap FundNifty Largemidcap 250 TRI
Multi-Cap FundNifty Largemidcap 250 TRI
Sectoral/ ThematicNifty Largemidcap 250 TRI
Value FundNifty Largemidcap 250 TRI
Mid Cap FundNiftyMidcap150TRI
Small Cap FundNiftySmallCap50-TRI

NIfty Largemidcap 250 has 50% of Nifty 100 and 50% of Nifty Midcap 150.

Reward measure: Rolling returns outperformance consistency

Rolling returns are a simple way to estimate how consistency a fund has outperformed a benchmark. Take the case of Quantum Long Term Equity (the fund in the graph below) and BSE Large Cap (index in the chart below). Bet 31st Aug 2008 and 9th Sep 2017, there are 991, 7-year duration. If the return for each of these durations is plotted for the fund and index together, we will get a graph like this. An example of rolling returns used in the Equity Mutual Fund Performance Screener

The corresponding entries in the screener sheet would be as below (this is an example):

A small snapshot of rolling return entires in the equity mutual fund screener Notice that out the 991 fund returns, all of them are higher than the chosen index. Thus the rolling return outperformance consistency over 7 years =

= 991/991 = 100%. Naturally, the higher the rolling return outperformance consistency, the better.

Reward and Risk measure: Upside Performance & Downside Capture

If you wish to understand how these are calculated, please read this first:  An introduction to Downside and Upside Capture Ratios and then proceed to this one for example. For some funds, a high downside capture consistency will lead to better returns, and for some funds, a high upside capture consistency will lead to better returns. The screener can help distinguish between the two types of performers. Recommend read: What is mutual fund downside protection and why is it important?

How to use the Equity Mutual Fund Performance Screener

There are multiple ways to screen for mutual funds. I will discuss two examples.  If you are investing with a clear strategy, you should be clear about what category fund to choose. So the first step is to select the category. You can either use the macro buttons (top right), Another picture of the equity fund screener input pageOr you can do this manually: how to manually screen for funds in the screener file Then, method A:  Set the 3Y and 5Y rolling return outperformance consistency to be above 70% or so. That should give you a nice short list to choose from. Then among these, you can visually look for funds with right downside protection consistency and pick one. Method B: Look for funds with above 70% downside protection consistency over 3Y and 5Y and choose one. Remember, never set narrow filters and do not be too demanding.  Wanting to select the fund with the best past performance is plain immaturity. Your screening criteria should yield 5-6 funds at all times. Why should I use this screener? Why can I look at trailing returns and screen? Trailing returns are say, 3Y or 5Y returns calculated with the last business date (and 3Y and 5Y prior).  This is just one data point to consider. Here we find a lot more to determine consistency.

Other features:

1: There is a sheet called “25% performance margin”.

Here you will see the following columns

No of rolling return entries Index (1 Year): Say 100 (1Y data points)
No of rolling return entries Fund (1 Year): Same as above: 100
No of times fund has outperformed an index (1 year): Say 60. That is, out of those 100 returns, 60 fund returns are above index returns.

Rolling return outperformance Consistency Score (1 years) : 60/100 = 60%

No of times fund outperformed the index by 25% 1Y: out of those 60 times fund return was higher than the index, how many times was the fund return 25% more than the index? That is:

(fund return – index return)/index return >= 25%. Say this is 20 times.

% outperformance (by 25%) 1Y : 20/60 ~ 33%

No of times fund underperformed the index by 25% 1Y out of those 40 times fund return was less than the index (100-60 as above), how many times did the fund return fall more than 25% of the index return. That is:

(fund return – index return)/index return <= -25%.  Say this is 15 times.

% underperformance (by 25%) 1Y:  15/40 ~ 38%

Upside performance consistency (1 year): Whenever the index gave a positive monthly return, how often did the fund give a better positive return?   Higher the better.
Downside protection consistency (1 year) Whenever the index gave a negative monthly return, how often did the fund give a less negative return? Higher the better.

The above columns will be repeated for 2,3,4,5 years.

Excess Risk vs Excess Return Screener

Here you can screen for funds with excess return > 0 in the last 1,2,3,4,5 year trailing periods. This means the fund return is greater the index return. You can also add excess risk < 0 filters for the same periods. This means that the fund risk is less than the index risk. Hence the excess risk is negative. Both screenshots are shown below

 

Excess-return vs excess risk screener: screenshot two

The above screenshot is for excess return >0 and the one below is excess risk < 0

Excess-return vs excess risk screener: screenshot one

The idea here is to find funds that have beat the index in terms of higher returns (excess return >0) and lower risk (excess risk <0) in the last 1,2,3,4,5 year periods. You can relax it to 3/4/5 year periods if you wish.

How to screen for the best equity funds in June 2019

Important Information

  1. This screener (June 2019) costs Rs. 111  (Rs. 100 + Rs.11 transaction fee) The reasons for this are mentioned in this change of policy note. I believe the cost is both affordable and justified for the information provided and reasons mentioned in the aforementioned link.
  2. The cost is only for the June 2019 screener and only for the data in the sheet.
  3. There are two sheets zipped. One has macros for each screening and the other just the data.
  4. While I will do my best to publish updated screener sheets each month, I cannot guarantee the same.
  5. The file does not contain any buy or sell recommendations and only has the above-mentioned data.
  6. Enough care and effort have been put in to weed out errors, however, I cannot guarantee that the sheet is free of error.
  7. The buyer will have to do their own research with regard to using the information in the spreadsheet. No recommendations or assistance is included in the sheet and will not be provided separately
  8. I will not provide any further help or assistance in using the sheet
  9. The sheet purchased is for personal use only should not be shared with others privately or publically

 

Click here to pay Rs. 111 and download (instantly) the July 2019 Freefincal Equity Mutual Fund Screener Living outside India? You can pay via this Paypal link (3 USD) and send a mail to freefincal at gmail.

Click here to pay Rs. 111 and download (instantly) the June 2019 Freefincal Equity Mutual Fund Screener Living outside India? You can pay via this Paypal link (3 USD) and send a mail to freefincal at gmail.

By clicking you agree to the terms in the important information section above. Do not forget to download the sheet after you pay!!

Do share if you found this useful

About the Author M Pattabiraman author of freefincal.comM. Pattabiraman(PhD) is the author and owner of freefincal.com.  He is an associate professor at the Indian Institute of Technology, Madras since Aug 2006. Pattu” as he is popularly known, has co-authored two print-books, You can be rich too with goal based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management.  He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. Pattu publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year (2.5 million page views) with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis. He conducts free money management sessions for corporates  and associations(see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints, TamilNadu Investors Association etc. Contact information: freefincal {at} Gmail {dot} com (sponsored posts or paid collaborations will not be entertained)
Want to conduct a sales-free "basics of money management" session in your office?
I conduct free seminars to employees or societies. Only the very basics and getting-started steps are discussed (no scary math):For example: How to define financial goals, how to save tax with a clear goal in mind; How to use a credit card for maximum benefit; When to buy a house; How to start investing; where to invest; how to invest for and after retirement etc. depending on the audience. If you are interested, you can contact me: freefincal [at] Gmail [dot] com. I can do the talk via conferencing software, so there is no cost for your company. If you want me to travel, you need to cover my airfare (I live in Chennai)

Connect with us on social media


Content Policy

Freefincal has original unbiased, conflict-of-interest-free,  topical reports, reviews, commentary and analysis on all aspects of personal finance like mutual funds, stocks, insurance etc. All guest authors and contributors to the site also do not have any conflict of interest. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. No promotional content We do not accept sponsored posts and link exchange requests from content writers and agencies. This is our privacy policy Our website is non-profit in nature. The revenue from the advertisement will only be used for hosting charges, domain registration charges, specific plugins necessary for traffic growth and analytics services for search engine optimisation.

Do check out my books


You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingMy first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.  It is also available in Kindle format.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You WantGamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantMy second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a young earner

The ultimate guide to travel by Pranav Surya

Travel-Training-Kit-Cover This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.  Get the pdf for ₹199 (instant download)

Free Apps for your Android Phone

All calculators from our book, “You can be Rich Too” are now available on Google Play!
Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)

Blog Comment Policy

Your thoughts are vital to the health of this blog and are the driving force behind the analysis and calculators that you see here. We welcome criticism and differing opinions. I will do my very best to respond to all comments asap. Please do not include hyperlinks or email ids in the comment body. Such comments will be moderated and I reserve the right to delete the entire comment or remove the links before approving them.

8 Comments

  1. Dear Sir,
    Greeting for the day!
    I am a regular reader of your excellent articles since last 1 year. I had gained moderately good knowledge about various intricacies of equity mutual funds.
    However, as we all know, most of the persons who invested in MF since last 2 years are only loosing money day by day.
    So, today I thought of some screening for the MFs using your June 2019 screener.
    I had paid tbe money, Rs. 111/-, but could not find and down load link after redirecting.
    My payment ID is : MOZO9625Z00W47643365
    Time of payment : June 25,2919, at 3:44pm.
    I am requesting you to please give me the download link through the mentioned email ID.
    Sorry to bother you for this small matter, but, it will be very helpful for me.
    Thanks.

  2. Hello Sir,

    I think, my situation is quite unique. I am from Hyderabad.

    I am staying in USA, since two years. I will be here for another three years. I am currently investing 40k per month in direct mutual funds. Till now I invested around 7Lakh in MF, 5 Lakh in FD.

    Until April,2022, I will invest the same amount every month.

    I am insured for 15 lakh through ICICI iProtect Option II, term insurance. I am having individual health insurance of 1 lakh per head for three of us. I am also having a critical insurance on me for 5 lakh from Max Bupa. My father has his insurance for health for 1.5Lakh. He also has a government sponsored health insurance called ArogyaSri.

    My son is 7 years old. He is in second class. After I return from US, I want to be in a position where I can fulfill my sons education expenses and other monthly expenses.

    I do not have any loans. I can take a moderate to high risk until 2026, wherein my son finishes his class X.

    Could you please advise me, whether I am in the right direction?

    Thank you
    Ram

  3. Dear Sir,
    I am a regular reader of your blog. To give you an honest feedback, now a days I find the blog quite unreadable and distracting with the large number of advertisements peppered all over the blog, including some dubious ones with buttons “Download”. I also appreciate the unique original content you are posting, which is invaluable to people like me.

    1. I face the same difficulties while navigating the site, just be careful. Website policy regd ads etc are given elsewhere.

      Subhra, a freefincal fan

  4. Hello Sir,

    I am a followed of your blog since the start of my investing journey and has suggested the blog to many friends due to the knowledge resource which is available here.
    You used to provide this screener free of cost but now you are providing it monthly basis at Rs111 which I feel is against the very name of blog “free”fincal.
    I know if I have selected MFs based on your screener earlier then I just need to look for there consistency once a year or so. i.e. I will have to pay only once per year.
    But I hope the resource on this website stays free as they were.
    Thanks for all the knowledge you have shared.

    Thanks
    Gaurav

  5. Dear Pattu,
    This is Subhra from Kolkata, an avid reader of your blog. Just two questions:
    i) why you discourage reviewing existing holding using this screener? I have found that the equity funds I am currently investing are good enough according to your screener. Such data is not available elsewhere. Am I wrong?
    ii) I have purchased May screener and will do this one, what qualitative and quantitative differences are expected? Will you publish screeners every month or at a fixed interval?

  6. Hi, I paid for the June MF Performance Screener on 30th June at around 11 am. However, even after pressing the download link, no download took place. Please resolve.

    regards
    Himanshu

Leave a Reply

Your email address will not be published. Required fields are marked *