Conservative hybrid funds in India
18 live funds in the Conservative Hybrid category, ordered by 5-year return, highest first; Bank of India Conservative Hybrid Fund leads. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 27 Oct 2026; 3 and 5 year returns are a year, compounded.
- Category median, 1 yearCategory median, 1 year. The middle return among the Conservative Hybrid category's funds, each over the same window to its own latest NAV, on their Direct plans.
- +0.77%Middle of 18 funds
- Category median, 3 yearsCategory median, 3 years. The middle return among the Conservative Hybrid category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +7.75%Middle of 18 funds
- Category median, 5 yearsCategory median, 5 years. The middle return among the Conservative Hybrid category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +7.07%Middle of 18 funds
Conservative Hybrid funds
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
Bank of India Conservative Hybrid FundBank of India Mutual FundNAV₹37.53401Y+1.37%3Y+6.36%5Y+9.33%Size₹65 CrCost1.18%
Parag Parikh Conservative Hybrid FundPPFAS Mutual FundNAV₹15.81931Y+1.47%3Y+8.61%5Y+8.63%Size₹3,475 CrCost0.32%
SBI Conservative Hybrid FundSBI Mutual FundNAV₹82.82091Y+2.35%3Y+8.01%5Y+7.91%Size₹10,195 CrCost0.98%
Nippon India Conservative Hybrid FundNippon India Mutual FundNAV₹68.78041Y+4.58%3Y+8.39%5Y+7.89%Size₹979 CrCost1.01%
ICICI Prudential Conservative Hybrid FundICICI Prudential Mutual FundNAV₹86.22131Y+0.87%3Y+8.42%5Y+7.75%Size₹3,339 CrCost1.04%
Kotak Conservative Hybrid FundKotak Mahindra Mutual FundNAV₹68.51271Y−0.41%3Y+8.20%5Y+7.64%Size₹2,839 CrCost0.60%
Aditya Birla Sun Life Conservative Hybrid FundAditya Birla Sun Life Mutual FundNAV₹77.82991Y+1.38%3Y+8.30%5Y+7.52%Size₹1,497 CrCost0.96%
DSP Conservative Hybrid FundDSP Mutual FundNAV₹68.16721Y+1.38%3Y+8.15%5Y+7.27%Size₹178 CrCost0.64%
HDFC Conservative Hybrid FundHDFC Mutual FundNAV₹88.13991Y−0.59%3Y+7.10%5Y+7.10%Size₹3,217 CrCost1.18%
Baroda BNP Paribas Conservative Hybrid FundBaroda BNP Paribas Mutual FundNAV₹56.82611Y+2.17%3Y+8.10%5Y+7.04%Size₹944 CrCost0.56%
HSBC Conservative Hybrid FundHSBC Mutual FundNAV₹70.10011Y+0.38%3Y+8.52%5Y+6.94%Size₹154 CrCost1.19%
Franklin India Conservative Hybrid FundFranklin Templeton Mutual FundNAV₹101.25011Y−0.25%3Y+7.49%5Y+6.72%Size₹203 CrCost0.81%
Canara Robeco Conservative Hybrid FundCanara Robeco Mutual FundNAV₹113.40291Y+0.32%3Y+7.34%5Y+6.52%Size₹855 CrCost0.77%
UTI Conservative Hybrid FundUTI Mutual FundNAV₹75.47901Y−1.17%3Y+7.37%5Y+6.49%Size₹1,651 CrCost1.25%
Axis Conservative Hybrid FundAxis Mutual FundNAV₹35.40761Y−0.73%3Y+6.35%5Y+5.44%Size₹220 CrCost1.16%
Bandhan Conservative Hybrid FundBandhan Mutual FundNAV₹36.79451Y+0.93%3Y+6.92%5Y+5.38%Size₹91 CrCost0.89%
Sundaram Conservative Hybrid FundSundaram Mutual FundNAV₹32.30851Y−1.77%3Y+5.38%5Y+4.98%Size₹19 CrCost1.14%
LIC MF Conservative Hybrid FundLIC Mutual FundNAV₹92.65241Y+0.67%3Y+6.21%5Y+4.94%Size₹47 CrCost1.68%
Tax on conservative hybrid funds
Gains on units bought on or after 1 Apr 2023 are taxed at the income tax slab rate however long they are held; gains on units bought earlier are taxed at 12.5% when held over 24 months, or over 12 months for a listed fund such as an ETF, and at the slab rate otherwise.
Rules in force from 23 Jul 2024, checked 27 Oct 2026. Surcharge and cess are not included.
About conservative hybrid funds in India
Conservative hybrid funds in India are open-ended mutual funds that put 75% to 90% of their money in debt and 10% to 25% in equity. SEBI describes the category as a hybrid scheme investing predominantly in debt instruments.
What SEBI requires
SEBI's categorisation circular of 26 Feb 2026 sets two bands for a conservative hybrid fund: equity and equity-related instruments between 10% and 25% of total assets, and debt instruments between 75% and 90% of total assets. The 2026 circular kept both bands and that description from the 2017 rules.
Debt instruments are loans a company or government takes and repays with interest, such as bonds. Equity-related instruments are shares and instruments linked to them. The residual portion, the part of the fund outside these two core asset classes, may go into InvITs, exchange-traded commodity derivatives, gold ETFs and silver ETFs, within the limits of the mutual fund regulations.
How the fund is run
The debt part holds bonds, government securities and similar paper, and its choice of maturities sets most of how the unit price moves when interest rates change. The equity part is usually a small, separately managed slice. Both bands are wide, so two funds can hold different mixes and still meet the rule.
Difference from other hybrid categories
The next category up is the balanced hybrid fund, which holds 40% to 60% in each of equity and debt, and the aggressive hybrid fund holds 65% to 80% in equity. A balanced hybrid fund may not use arbitrage. Of these three fixed-split categories, only the conservative hybrid fund caps equity at 25%.
Tax treatment
A fund counts as equity-oriented for tax only when it holds at least 65% in equity. A conservative hybrid fund holds at most 25%, and at least 75% in debt, so it falls under the debt fund rules. For units bought on or after 1 Apr 2023, the entire gain is added to income and taxed at the holder's slab rate, whatever the holding period, and indexation is not available.
How this page lists the funds
The page lists the funds in the category and orders them by 5-year return, highest first. Funds under five years old follow, in name order. Returns over 1, 3 and 5 years run to each fund's latest NAV (net asset value, the price of one unit), and the 3-year and 5-year figures are annualised, meaning compounded a year. The category medians for each window are the middle return among the funds on Direct plans over the same window. Size is the average assets over the latest quarter, and Cost is the yearly expense ratio. A fund without a return for a period shows a dash and is left out of that median.