Aditya Birla Sun Life Money Manager Fund - Direct - daily IDCW

Aditya Birla Sun Life Money Manager Fund - Direct - daily IDCW lags behind most of its peers in the Money Market Fund category, currently carrying a 2-star rating. Returns have been soft relative to what the category has offered — worth checking if this is a temporary phase or a longer pattern. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 48/100.

Cost: At 0.22%, the expense ratio is roughly in line with the Money Market Fund category average of 0.24% — cost isn't a standout factor either way for this fund.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a negative Sharpe ratio of -25.44 — over the past year, returns haven't kept pace with the volatility involved, even before accounting for the risk-free rate. Separately, annualised volatility of 0.27% is on the lower side, suggesting a comparatively smoother ride.

Who should invest: This fund is best suited to conservative investors prioritising capital stability and predictable income over high growth.