Aditya Birla Sun Life Nifty Smallcap 50 Index Fund-Direct Growth

Aditya Birla Sun Life Nifty Smallcap 50 Index Fund-Direct Growth sits in the middle of the pack for Equity Funds funds, currently carrying a 1-star rating. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 63/100.

Cost: At 0.62%, the expense ratio runs 32% above the Equity Funds category average of 0.47%. That gap is worth weighing against the fund's actual performance versus cheaper peers before committing to a long SIP.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a negative Sharpe ratio of -0.39 — 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 18.93% is fairly typical for actively managed equity funds.

Who should invest: This fund is best suited to investors whose goals and risk appetite align with a Index fund. The High risk rating means near-term volatility should be expected — this isn't a fund to check daily.