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Feb 21, 2026, 01:41:12 PM IST
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What is a risk-adjusted return?
The Sharpe ratio is a risk-adjusted return measure. It measures the excess return over the risk-free rate per unit of risk and is expressed in terms of standard deviation. Here are the top 5 flexi cap funds with the highest risk-adjusted returns (Source: MF Screener).
Agencies
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Parag Parikh Flexi Cap Fund
Parag Parikh Flexi Cap Fund had a Sharpe ratio of 1.68. In the last three years, the fund has offered a return of 20.56%.
ETMarkets.com
HDFC Focused Fund had a Sharpe ratio of 1.55. In the last three years, the fund has offered a return of 23.16%.
Agencies
HDFC Flexi Cap Fund had a Sharpe ratio of 1.44. In the last three years, the fund has offered a return of 22.97%.
ETMarkets.com
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ICICI Prudential Focused Equity Fund
ICICI Prudential Focused Equity Fund had a Sharpe ratio of 1.29. In the last three years, the fund has offered a return of 24.46%.
ETMarkets.com
SBI Focused Fund had a Sharpe ratio of 1.23. In the last three years, the fund has offered a return of 19.88%.
ETMarkets.com
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