Top value mutual funds in India
Ranked by 7-year rolling returns, downside risk, and consistency — not recent returns alone.
Fund Name
7yr Rolling Returns
Risk of Below FD Returns
Consistency Of Performance
Hsbc Value Fund
17%
Medium
Strong
16 years old
Jm Value Fund
17%
Medium
Good
29 years old
Nippon India Value Fund
17%
Medium
Good
21 years old
Icici Prudential Value Fund (erstwhile Value Discovery Fund)
17%
High
Good
22 years old
Axis Value Fund
-
Very Low
Strong
4 years old
All 22 value funds are loaded — tap to expand
How these funds are ranked
Value funds invest in stocks trading below their intrinsic value. DrFin ranks them on rolling returns, downside risk, and consistency — so you find value managers who deliver across cycles, not just one-time picks.
7yr rolling returns
Average across all 7-year windows since Jan 2015 — not start-to-today
Below FD risk
% of 3-year periods where returns fell below a fixed deposit (7%)
Consistency
How often each fund ranked in the top half of its value peers
Fund age
Older funds have more data across market cycles — more reliable signals
FAQs
What is a Value fund?
Value funds invest in stocks trading below their estimated intrinsic value, aiming to profit when the market eventually recognises their worth.
How risky are Value funds — how much can they fall?
Value funds carry Medium risk.
Historically, the worst peak-to-trough fall in this category has been around 41%, with an average market correction fall of 26% (vs 21% for the benchmark). Recovery from major falls has taken around 22 months on average.
Investors holding Value funds for 3 years earned less than FD returns in approximately 15% of periods. Longer holding periods significantly reduce this risk.
What returns can I realistically expect from Value funds?
Across all rolling 5-year periods, Value funds delivered:
•
Typical (average) return: 16% p.a.
•
Best historical outcome: 33% p.a.
•
Worst historical outcome: -1% p.a.
The probability of earning less than FD returns over a 3-year period has historically been 15%.
Recent trailing returns can be misleading — use the full range of historical rolling returns for a realistic picture.
How long should I stay invested in Value funds?
The minimum recommended holding period for Value funds is 5+ years.
Historically, the probability of earning less than FD returns decreased significantly with longer holding periods:
•
3 years: 15% chance of below-FD return
•
5 years: 8% chance of below-FD return
•
7 years: 0% chance of below-FD return
Investors who cannot commit to at least 5+ years should consider lower-risk alternatives.
How do I choose the best Value fund?
The most common mistake: picking the fund with the highest 1- or 3-year return. Recent returns are heavily influenced by timing, not skill.
What to look for instead:
•
Rolling return consistency: how did the fund perform across all periods, not just the recent window?
•
Downside protection: how much does the fund fall during market corrections? Look at maximum drawdown and downside capture.
•
Benchmark consistency: what % of rolling periods did the fund beat its benchmark?
•
Expense ratio: for active funds, prefer below 1.5%; index funds typically charge 0.1–0.2%
•
AUM and track record: prefer funds with ₹500+ crore AUM and 7+ years of history
What to avoid:
•
Chasing the top-ranked fund from last year
•
Selecting based on star ratings alone — ratings lag and change
•
Ignoring the expense ratio in long-term compounding
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