Mahindra Manulife Liquid Fund - Direct Plan - Daily IDCW

Mahindra Manulife Liquid Fund - Direct Plan - Daily IDCW holds up reasonably well within the Liquid category, backed by a 4-star rating. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 72/100.

Cost: At 0.15%, the expense ratio is roughly in line with the Liquid category average of 0.15% — 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 -0.85 — 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 0.28% 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.