Comparison of Mutual Funds through various Descriptive Statistical Methods and Risk Adjusted Performance Ratios

This study evaluates the performance of selected mutual funds in India using descriptive statistics and risk-adjusted performance measures. Monthly NAV data for four mutual funds: Mirae Asset Aggressive Hybrid Fund, Shriram Aggressive Hybrid Fund, Nippon India CPSE ETF, and Bandhan Aggressive Hybrid Fund are analyzed for the period April 2021 to March 2025. The analysis examines average returns, volatility, market sensitivity, and diversification using measures such as standard deviation, beta, correlation, and R². Risk-adjusted performance is assessed through Sharpe’s Ratio, Treynor’s Index, Jensen’s Alpha, and Fama’s Measure, with the risk-free rate proxied by the 182-day Treasury Bill yield. The results reveal notable differences in risk-return profiles across funds. The Nippon India CPSE ETF delivers higher returns and stronger risk-adjusted performance but exhibits greater volatility, while aggressive hybrid funds show relatively stable returns with lower risk. The findings emphasize that mutual fund evaluation requires joint consideration of both return and risk.