Fund of funds in India

160 live funds in the Fund of Funds category, ordered by 5-year return, highest first; Mirae Asset NYSE FANG + ETF Fund of 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 28 Oct 2026; 3 and 5 year returns are a year, compounded.

Fund of Funds

Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener

NAV of 28 Oct 2026

About fund of funds in India

Fund of funds in India are mutual fund schemes that invest in units of other mutual funds instead of buying shares or bonds directly. SEBI lists them under Other Schemes and requires at least 95% of assets in the underlying fund or funds.

What a fund of funds holds

The underlying funds can be equity, debt, gold or silver funds, ETFs (exchange traded funds), or overseas funds. A scheme with several underlying funds follows a SEBI framework dated 30 Jun 2025, which sorts them into domestic equity (diversified or sector and theme), domestic debt, hybrid, commodity, overseas, and domestic plus overseas groups. Existing schemes were to align with it by 31 Aug 2025.

SEBI category rules

Within hybrid FoFs, an aggressive one holds 65% to 80% in equity funds and 20% to 35% in debt funds, a conservative one 10% to 25% in equity funds and 75% to 90% in debt funds, and a multi asset one at least 10% in each of equity, debt and commodity funds. A domestic plus overseas FoF holds at least 35% in each side. The remaining 5% may not contradict the scheme's strategy.

Costs and tax

A holder pays the FoF's own recurring expenses on top of the expenses inside the underlying funds. The expense ratio, the yearly charge as a share of assets, shown on this page is the FoF's own. SEBI bars an AMC from sharing revenue with the underlying funds and requires any commission received from them to be credited to the scheme.

Tax follows what the FoF holds. One that keeps at least 90% in domestic equity ETFs is taxed as an equity fund. A gold, overseas or hybrid FoF with under 65% in debt funds counts gains on units held over 24 months as long-term, taxed at 12.5%, and shorter gains at the holder's slab rate. A FoF with more than 65% in debt funds is taxed at the slab rate on units bought after 31 Mar 2023, however long they are held.

Overseas fund of funds

An overseas FoF invests in funds listed or registered abroad. SEBI caps overseas investment at US $1 billion per fund house and US $7 billion for the industry. When the FoF invests, an underlying overseas fund may have at most 25% exposure to Indian securities.

Mixed assets in one table

Gold, silver, hybrid and domestic equity FoFs share one table ordered by 5-year return, so a gold FoF sits beside an equity FoF. Their returns come from different assets and are not like-for-like; most overseas FoFs are on a category page of their own.