Downside Capture Ratio of all Mid-cap Equity Mutual Funds

Published: March 25, 2016 at 10:35 am

Last Updated on

I have often written about the importance of downside protection when it comes to mutual fund selection and review. A simple metric that measures this is the downside capture ratio.  Here is a listing of downside capture ratio for all mid-cap equity mutual funds.

A batch processor is also included so that you can compile the list whenever you want.

Downside capture refers to the amount of benchmark losses captured by the fund. That is, a fund which has only captured 60% of benchmark losses is considered better than a fund which has captured 80% of losses. This ratio (expressed as a percentage) is known as downside capture.

Lower the downside capture the better. Sometimes, when the benchmark has moved down, the fund may move up. The  downside capture would then become negative (as it is a ratio). This is quite normal and a ‘good thing’.

More about the downside capture and also the upside capture can be found in the following posts:

Simplify Mutual Fund Analysis with Upside/Downside Capture Ratios

Understanding Upside and Downside Capture ratios

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How Mutual Fund Upside and Downside Capture Ratios are calculated.

A visual tool: Mutual Fund Downside Protection Consistency Analysis.

The present batch analyzer is an extension of the Mutual Fund Downside Protection Calculator.

Here are a few screenshots.

Mutual-fund-upside-downside-calculator-1
The blue button is for batch processing.
Mutual-fund-upside-downside-calculator-2
List of all mid-cap funds listed at Value Research as on March 24th 2016 along with their benchmarks.
Mutual-fund-upside-downside-calculator-3
Capture ratio data sheet.

Download capture ratio data for Mid-cap funds (24th Mar. 2016). This will work in Google Sheets and in Mac Numbers and Mac Excel as well.

Download the capture ratio batch analyzer  (requires Win Excel 2007 or above with Macros enabled)

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Pattabiraman editor freefincalM. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. since Aug 2006. Connect with him via Twitter or Linkedin Pattabiraman 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.
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2 Comments

  1. Hi Pattu,

    This is a great value add from you. It is marvelous. Now, I am getting greedy, Can you please have this bulk data for following:
    – Large Cap
    – Ultra Short Term Debt funds

    The second one for Ultra Short term is more important to risk averse people.

    Regards,
    Anjani Singh

  2. Dear Sir,
    This is a very nice one, but I do have a question though.
    Is the benchmark index, total return index meaning with dividends taken into account or just the index and not the TRI.

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