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January 2017: Equity Mutual Fund Outperformance Screener

Use this January 2017 screener datasheet to choose mutual funds that have consistently outperformed a benchmark* over every possible 3,5,7 year periods from April 3rd 2006 to Jan 5th 2017. Includes a "how-to-use" video.
All equity funds and equity-oriented balanced funds (excluding equity savings funds) have been considered**.

The method adopted is based on this report:  A simple way to measure mutual fund performance consistency.

* representative of a category.

** Rolling returns for some funds could not be calculated. The list of all such funds can be found in the screener file.

Before we begin, just a quick shoutout that Amazon has now dropped the price of my book, You Can Be Rich Too For Goal-Based Investing by 23%. The hardcover version is currently priced at ₹307 at Amazon and is also the same at Infibeam. The book has a detailed selection guide for both equity and debt mutual funds.

Mutual Fund Performance Consistency Score

Rolling returns are a simple way to estimate how consistency a fund has outperformed a benchmark. Three-year rolling returns have been considered. For example, suppose 1000 such 3Y returns are available for the fund and 800 such returns for the benchmark. Here is an example:

icici-focussed-blue-chip-rolling-retuns

We ask how many times has the fund got a better 3Y return than the benchmark. Suppose 500 such fund returns are higher, the performance consistency score is computed as

= 500/800 = 63%.

The minimum of (1000 and 800) = 800 is used in the denominator.

Higher the consistency score, the better the fund has performed with respect to the benchmark.

The simplest way to understand the efficacy of this method is to consider the performance score of well-known poor performers - certain funds from JM Mutual or LIC Nomura  - and check their consistency score. It would be quite low.

I think any score about 60% is reasonable and above 70% quite good. Less than 50% for the 3Y rolling returns is probably a warning sign to monitor closely.

An excel sheet in which funds can be screened for consistency across categories or per category is attached below.  The same benchmarks as the November 2016: List of Equity Mutual Fund Returns and Up/Down Capture Ratios are used.

CategoryCategory CodeBenchmark
BankginEQ-BANKBSEBankex-TRI
FMCGEQ-CGBSEfmcg-TRI
InfrastructureEQ-INFRABSEInfra-TRI
InternationalEQ-INTLNifty-TRI
ITEQ-ITBSEIT-TRI
Large capEQ-LCBSELargeCap-TRI
Mid-capEQ-MCBSEmidcap-TRI
Multi-capEQ-MLCBSE200-TRI
OthersEQ-OTHNifty-TRI
PharmaEQ-PHBSEhealthcare-TRI
Small CapEQ-SCBSEsmallcap-TRI
ELSSEQ-TPBSE200-TRI
BalancedBalancedBalanced Index

Using the Mutual Fund Screener

The screener sheet in the file contains all entries. To display only one or two categories, the user can click on the grey square (red oval below), then uncheck "select all: and then select the categories required. The screener is easy to use with Excel's data filters.

mutual-fund-screener

If the no of rolling return entries is less than 500 then the fund is quite young to be judged. Higher the entries, the better.

Select a cut off for the consistency score: Above 60% or above 70% as mentioned above and check the funds which have done well. You can use this in combination with the Sep 2016 returns listing.

User Guide

You Can view additional guides for

How to select an equity mutual fund in 30 minutes

based on the Mutual Fund Screener Version 6.0 and Freefincal Mutual Fund Screener with SIP Returns and the  freefincal Excel Stock Screener here:

User Guide: how to use the freefincal mutual fund and stock screeners

Do let me know if you any feedback to make this better.

Download the January 2017 Mutual Fund Performance Consistency Screener file

You Can Be Rich Too

you-can-be-rich-too

My new book with PV Subramanyam, published by CNBC TV 18

The book comes with 9 online calculator modules to create your own financial plan.

It also has detailed selection guides for equity and debt mutual funds.
Amazon Rs. 307
Kindle ( Rs. 244.30)

Infibeam ? 280 with Coupon BS10

Googe Play Books App Store (? 244.30)

What Readers Say

Five Stars: The best book ever on Finanical Freedom Planning. Go get it now! (Kindle reviewer)

  • Simple and powerful This book empowers the reader with the concepts in easy to understand & simple form. Those who have been reading blogs of both authors would know that they are not only good with finance domain but also have a knack of simplifying the methods of investing for their readers. This book by them is a gem of financial knowledge for people who are starting to invest or want to get better at it. The presentation and the thought process with calculators is extremely powerful.The book should be read & calculators used simultaneously to understand the concepts well. The calculators when used with real inputs will show you where you are & where you need to reach for each of your goals. Don't ignore these numbers.Learnings from Chapters 7 to 11 will help you avoid going off path & saving your money from financially hazardous products. With discipline & right approach suggested here you wouldn't need a financial advisor to build wealth.
  • This is perfect book on personal finance. Very nicely explained about taxation about debt mutual fund. Topics like early investing and asset allocation are very well explained. - Mahesh Deshmukh
  • Highly Recommended For anyone who wishes to take control of his/her finance this book is a must read. Very simply put, even an amateur in finance will be able to understand and implement. The author genuinely attempts to inculcate the habit of investing among the people who have the ability to invest but refrain from doing it, either due to lack of time , interest or understanding!. The message from the book is " Investment done without setting a goal/ objective is like leaving for a trip without knowing the destination, not everytime the end result will be promising. Hence, it's important to invest in a planned & disciplined manner." A read is highly recommended ??
  • A must book for everyone who wants to take control of personal finance. Nice explanation of how a debt mutual fund works. Bonds trading and indexation benefits in high inflation years were something new I learnt. After reading this book you will be able to easily choose any funds, because you will know what that fund does or how that fund works  

Read all reviews here: Amazon Reviews

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