Results: Mutual Fund Screener

Published: July 18, 2015 at 8:45 am

Last Updated on

Here is  a couple of results from the automated mutual fund screener published last week. The main aim behind creating the tool is to enable users to rapidly shortlist mutual funds in a given category. This post primarily serves as an advertisement for the screener 🙂

Consistent performers (top 15) Equity-oriented Balanced funds

Balanced-funds-Rank

How to interpret results: BirlaSun Life 97 Fund has over the past 12 years always remained in the top 15 when  12,11,10,9,8,7,6,5,4,3,2 and 1 year returns (CAGR corresponding to lump sum investments) are considered. It therefore has a consistency score of 100%.

By the same count, DSPBR Balanced fund has only managed a score of 75%.

The rank (in this case top 15) can be changed by the user. I personally prefer casting a wider net.

Consistent performers (category average) Equity-oriented Balanced funds

Balanced-funds-CA

How to interpret results: BirlaSun Life 97 Fund has over the past 12 years always beat the category average when  12,11,10,9,8,7,6,5,4,3,2 and 1 year returns (CAGR corresponding to lump sum investments) are considered. It therefore has a consistency score of 100%.

This post is not a recommendation for said fund!

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The overlap between results depends on the rank input by the user (top 10 or 15 etc.)

This allows us to quickly create a shortlist.

Here are similar results for Mid and Small-cap funds

Consistent performers (top 15) Mid- and small-cap funds

Mid-and-small-cap-CA

Consistent performers (category average) Mid- and small-cap funds

Mid-and-small-cap-CA

What do you make of these results? I personally prefer older funds with a consistent track record. In the mid- and small-cap category, it might be a good idea to consider consistent performers that no one is talking about (therefore small AUM).

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 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. 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?

Download the Automated Mutual Fund Screener

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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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18 Comments

  1. I have been investing in ICICI prudential value discovery fund, HDFC mid-cap opportunities fund & Religare invesco mid n small cap fund. First 2 appear in your list and what is the rank of the 3rd fund?

  2. I have been investing in ICICI prudential value discovery fund, HDFC mid-cap opportunities fund & Religare invesco mid n small cap fund. First 2 appear in your list and what is the rank of the 3rd fund?

  3. “In the mid- and small-cap category, it might be a good idea to consider consistent performers that no one is talking about (therefore small AUM).” There was a post on your blog, showing the irrelevance of AUM on fund performance… Is there any reason for the conclusion above ? If so, why this is limited to mid n small cap category only?

    Thanks!

    1. Once inflows suddenly star increasing in a mid and small cap fund, it will change character and take on large caps. Hence the above statement. performance may or may not be affected.

  4. “In the mid- and small-cap category, it might be a good idea to consider consistent performers that no one is talking about (therefore small AUM).” There was a post on your blog, showing the irrelevance of AUM on fund performance… Is there any reason for the conclusion above ? If so, why this is limited to mid n small cap category only?

    Thanks!

    1. Once inflows suddenly star increasing in a mid and small cap fund, it will change character and take on large caps. Hence the above statement. performance may or may not be affected.

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