Best Conservative Hybrid Funds in India (2026)
Live · updated 2026-09-16 Ranked by data, refreshed from daily NAVs
This is the complete, data-ranked list of conservative hybrids we track - every Direct-Growth scheme in the category with a meaningful track record, ordered by long-term quality (King Score). This page is recomputed from NAV data every day, so it cannot go stale, and every fund on it links to a full research page with returns, risk, SIP outcomes, holdings and manager track record.
Tap any column heading to sort. Every fund name links to its full review.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Parag Parikh Conservative Hybrid Fund | 91 | 96 | 0.9% | 1.9% | 5.2% | 9.2% | 9.3% | n/a | 0.92 | 11.5% | -2.3% |
| 2 | ICICI Prudential Regular Savings Fund | 77 | 93 | 0.3% | 2.3% | 2.9% | 8.5% | 8.3% | 9.3% | 0.59 | 10.4% | -8.8% |
| 3 | BARODA BNP PARIBAS Conservative Hybrid Fund | 97 | 92 | 0.9% | 3.7% | 4.9% | 8.3% | n/a | n/a | 0.46 | 10.0% | -4.5% |
| 4 | HSBC Conservative Hybrid Fund | 74 | 91 | -0.5% | 3.3% | 2.4% | 8.8% | 7.5% | 8.0% | 0.44 | 9.1% | -10.4% |
| 5 | Kotak Debt Hybrid | 83 | 88 | 0.9% | 2.1% | 3.1% | 8.4% | 8.3% | 9.6% | 0.4 | 11.4% | -11.8% |
| 6 | DSP Regular Savings Fund | 80 | 87 | 0.4% | 2.3% | 3.5% | 8.4% | 7.3% | 7.4% | 0.54 | 8.9% | -12.0% |
| 7 | SBI Conservative Hybrid Fund | 93 | 86 | 0.6% | 3.4% | 4.6% | 8.1% | 8.5% | 8.9% | 0.42 | 10.6% | -11.9% |
| 8 | Aditya Birla Sun Life Regular Savings Fund | 95 | 85 | 0.9% | 3.0% | 4.5% | 8.4% | 7.9% | 8.4% | 0.55 | 10.2% | -14.2% |
| 9 | Canara Robeco Conservative Hybrid Fund | 96 | 83 | 1.5% | 3.7% | 2.7% | 7.5% | 6.9% | 8.6% | 0.27 | 9.3% | -10.2% |
| 10 | Nippon India Conservative Hybrid Fund | 99 | 82 | 1.6% | 3.5% | 7.0% | 8.5% | 8.2% | 6.0% | 0.97 | 8.5% | -18.9% |
| 11 | Franklin India Conservative Hybrid Fund | 81 | 81 | 1.1% | 2.2% | 2.1% | 7.6% | 7.1% | 7.3% | 0.28 | 8.7% | -11.9% |
| 12 | BANDHAN Conservative Hybrid Fund | 91 | 79 | 1.3% | 2.6% | 3.2% | 7.0% | 5.7% | 6.8% | 0.12 | 7.7% | -11.4% |
| 13 | Axis Conservative Hybrid Fund | 71 | 77 | 0.4% | 1.1% | 2.0% | 6.4% | 5.9% | 7.3% | -0.02 | 8.3% | -9.4% |
| 14 | HDFC Hybrid Debt Fund | 68 | 77 | 0.1% | 0.9% | 1.9% | 7.1% | 7.7% | 8.3% | 0.15 | 10.3% | -12.1% |
| 15 | UTI Conservative Hybrid Fund | 69 | 76 | 0.3% | 1.7% | 1.4% | 7.5% | 7.5% | 8.0% | 0.24 | 9.6% | -14.4% |
The category returns: 1 month to 10 years𝕏 Share this statWhatsApp
Over the last 1 year, the category averaged 2.5% - the best, Nippon India Conservative Hybrid Fund, returned 7.0% while the weakest managed -4.1%. That spread is why picking within the category matters. Over 10 years the average compounding rate is 7.0% a year, which turned ₹1 lakh into about ₹196,700.
| Period | Average | Median | Best fund | Weakest |
|---|---|---|---|---|
| 1 month | -1.3% | -1.3% | Nippon India Conservative Hybrid Fund (-0.4%) | -1.8% |
| 3 months | 0.6% | 0.5% | Nippon India Conservative Hybrid Fund (1.6%) | -1.2% |
| 6 months | 2.0% | 2.3% | Canara Robeco Conservative Hybrid Fund (3.7%) | -2.1% |
| 1 year | 2.5% | 2.8% | Nippon India Conservative Hybrid Fund (7.0%) | -4.1% |
| 3 years (CAGR) | 7.0% | 7.8% | Parag Parikh Conservative Hybrid Fund (9.2%) | -1.9% |
| 5 years (CAGR) | 6.6% | 7.5% | Parag Parikh Conservative Hybrid Fund (9.3%) | -2.3% |
| 10 years (CAGR) | 7.0% | 8.0% | Kotak Debt Hybrid (9.6%) | -0.5% |
Averages across every qualifying fund, refreshed daily. Best-fund links open that fund's full review.
What ₹1 lakh became
The same returns, translated into money - at the average pace and at the best fund's pace:
| Held for | Average pace | ₹1 lakh → (average) | ₹1 lakh → (best fund) |
|---|---|---|---|
| 1 year | 2.5% a year | ₹102,500 | ₹107,000 |
| 3 years | 7.0% a year | ₹122,500 | ₹130,200 |
| 5 years | 6.6% a year | ₹137,700 | ₹156,000 |
| 10 years | 7.0% a year | ₹196,700 | ₹250,100 |
Pre-tax, from historical returns. The averages smooth over a very bumpy ride - see the worst-fall column in the ranking above for what the journey involved.
The category by the numbers
| Funds that qualify | 18 |
| Combined assets | ₹31,702 Cr |
| Average 3-year return | 7.0% a year (best 9.2%, weakest -1.9%) |
| Average 5-year return | 6.6% a year |
| Average worst-ever fall | -11.8% (deepest: -18.9%) |
| Average expense ratio (Direct) | 0.91% |
| Largest fund by assets | SBI Conservative Hybrid Fund (₹10,033 Cr) |
Put the risk number in rupees: at the average worst fall of -11.8%, ₹1 lakh temporarily becomes about ₹88,200. That is the stretch every ranked fund's investors had to sit through at some point - the ranking rewards the funds that made that wait worthwhile.
Momentum check: what is hot right now
As of 2026-09-16, 7 of the 18 funds here rate RS 90 or above (top-decile recent momentum versus peers). The strongest momentum belongs to Nippon India Conservative Hybrid Fund (RS 99/99). Average return over the last 3 months: 0.6%; over 6 months: 2.0%. Momentum is a snapshot, not a ranking criterion here - but it tells you whether this corner of the market is currently in favour.
Before you pick a conservative hybrid fund: four checks
- Open the fund's page and look at the worst-fall figure in rupees - decide whether you could genuinely sit through it without selling.
- Check the rolling-return consistency, not just the trailing return: a fund that delivered in most windows beats one lucky streak.
- Compare its expense ratio against the category average shown above - a persistent 0.5% cost gap compounds into lakhs over decades.
- If you already own funds in this category, check the portfolio overlap section on the fund page - two funds owning the same stocks is one bet, not two.
Filter the entire Indian mutual fund universe by 40+ metrics - returns, consistency, drawdown, RS Rating, King Score, cost - then chart, compare and backtest anything you find.
How to read the table
RS (1-99) is recent momentum versus category peers - 99 is the hottest right now. King (0-100) is the long-term quality composite this list is ranked by. 3M/6M are recent returns; 3Y and 5Y CAGR are annualised longer records. Sharpe is return earned per unit of volatility - higher means smoother compounding. Roll 3Y is the median of every 3-year holding period in the fund's history, the fairest single return number a fund has. Worst fall is the deepest peak-to-bottom loss ever - the number that tests whether you would have stayed invested. Missing values show as n/a, usually because the fund is too young for that measurement.
The top 10, decoded𝕏 Share this statWhatsApp
- Parag Parikh Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 96/100, RS 91/99 right now. 3-year return 9.2% a year, against a worst-ever fall of 2.3% (₹1 lakh briefly ₹97,700). 5-year pace 9.3% a year, median 3-year rolling return 11.5%, sharpe 0.92.
- ICICI Prudential Regular Savings Fund (Conservative Hybrid Fund) - King Score 93/100, RS 77/99 right now. 3-year return 8.5% a year, against a worst-ever fall of 8.8% (₹1 lakh briefly ₹91,200). 5-year pace 8.3% a year, median 3-year rolling return 10.4%, sharpe 0.59.
- BARODA BNP PARIBAS Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 92/100, RS 97/99 right now. 3-year return 8.3% a year, against a worst-ever fall of 4.5% (₹1 lakh briefly ₹95,500). Median 3-year rolling return 10.0%, sharpe 0.46.
- HSBC Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 91/100, RS 74/99 right now. 3-year return 8.8% a year, against a worst-ever fall of 10.4% (₹1 lakh briefly ₹89,600). 5-year pace 7.5% a year, median 3-year rolling return 9.1%, sharpe 0.44.
- Kotak Debt Hybrid (Conservative Hybrid Fund) - King Score 88/100, RS 83/99 right now. 3-year return 8.4% a year, against a worst-ever fall of 11.8% (₹1 lakh briefly ₹88,200). 5-year pace 8.3% a year, median 3-year rolling return 11.4%, sharpe 0.4.
- DSP Regular Savings Fund (Conservative Hybrid Fund) - King Score 87/100, RS 80/99 right now. 3-year return 8.4% a year, against a worst-ever fall of 12.0% (₹1 lakh briefly ₹88,000). 5-year pace 7.3% a year, median 3-year rolling return 8.9%, sharpe 0.54.
- SBI Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 86/100, RS 93/99 right now. 3-year return 8.1% a year, against a worst-ever fall of 11.9% (₹1 lakh briefly ₹88,100). 5-year pace 8.5% a year, median 3-year rolling return 10.6%, sharpe 0.42.
- Aditya Birla Sun Life Regular Savings Fund (Conservative Hybrid Fund) - King Score 85/100, RS 95/99 right now. 3-year return 8.4% a year, against a worst-ever fall of 14.2% (₹1 lakh briefly ₹85,800). 5-year pace 7.9% a year, median 3-year rolling return 10.2%, sharpe 0.55.
- Canara Robeco Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 83/100, RS 96/99 right now. 3-year return 7.5% a year, against a worst-ever fall of 10.2% (₹1 lakh briefly ₹89,800). 5-year pace 6.9% a year, median 3-year rolling return 9.3%, sharpe 0.27.
- Nippon India Conservative Hybrid Fund (Conservative Hybrid Fund) - King Score 82/100, RS 99/99 right now. 3-year return 8.5% a year, against a worst-ever fall of 18.9% (₹1 lakh briefly ₹81,100). 5-year pace 8.2% a year, median 3-year rolling return 8.5%, sharpe 0.97.
Frequently asked questions
Which is the best conservative hybrid fund right now?
On our data-driven ranking as of 2026-09-16, Parag Parikh Conservative Hybrid Fund scores highest (King Score 96/100). That is a description of its record versus peers, not a recommendation - rankings move as NAVs update, and the right fund depends on your goals and risk tolerance.
Are conservative hybrid funds risky?
The category's numbers answer this better than adjectives: the average fund here has seen a worst-ever fall of -11.8%, and the deepest fall in the category is -18.9%. If a temporary loss of that size would make you sell, this category (or its allocation size in your portfolio) deserves a rethink. Risk here is not hypothetical - it is a matter of record.
What returns have conservative hybrid funds given historically?
Across the 18 funds we track in this category, the average 3-year return is 7.0% a year, with the best at 9.2% and the weakest at -1.9%. Over 5 years the category average is 6.6% a year. These are records, not projections - the next three years owe nothing to the last three.
What is the average 1-year return of conservative hybrid funds right now?
As of 2026-09-16, the 18 qualifying funds averaged 2.5% over the last year (median 2.8%). The best, Nippon India Conservative Hybrid Fund, returned 7.0%; the weakest returned -4.1%. One year is weather, not climate - check the 5 and 10 year columns before drawing conclusions.
Which conservative hybrid fund gave the highest return in the last 10 years?
Kotak Debt Hybrid leads with 9.6% a year over 10 years - ₹1 lakh became about ₹250,100 pre-tax. The average across funds with a 10-year record is 7.0% a year. A decade-long record says a lot about the past and nothing certain about the next decade.
How is this list ranked?
Funds are ordered by King Score - a 0-100 composite of 3-year returns, rolling consistency, worst drawdown and Sharpe, each measured against category peers. The full formulas are public - see our methodology page. No fund pays to be here and rankings cannot be bought.
Should I invest in the #1 fund on this list?
We cannot tell you that - MF Terminal is descriptive research, not investment advice. A top rank says the past record was strong versus peers. Read the fund's full page, check the drawdowns you would have to sit through, and decide against your own horizon.
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All figures pre-tax, from AMFI NAV history. Rankings are descriptive and change with the data. Nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.