7 Best Hybrid Mutual Funds Delivering Up to 24% CAGR in 3 Years

Synopsis: Hybrid mutual funds are those with a mix of both equity and debt investments. There are several hybrid schemes in 2026 that have delivered strong CAGR in past few years. Their diversified portfolios made them attractive for investors. Read on to find out which funds have given a remarkable number in the last decade. 

Hybrid mutual funds have now placed themselves in being one of the most popular options for funds that diversify their portfolio in equity markets without taking the full length risk associated with it. There are many hybrid funds that follow a multi asset allocation where investments spread across equities, debt, and commodities such as gold and silver. This diversified allocation allows fund managers to adjust portfolios based on market trends and risk levels. As a result, the hybrid funds can suit investors looking for steady long-term wealth with relatively lower volatility.

Here are some hybrid mutual funds that are getting popular these days for their diversified holdings and consistent performance.

1. Quant Multi Asset Allocation Fund  

• NAV (As of 12th March 2026): ₹171.24
• AUM: ₹4,925 cr
• Expense Ratio: 0.58%
• Exit Load: Load of 1% if redeemed within 15 days
• Category: Multi Asset Allocation
• Performance Snapshot:
  • 1-Year Return: +26.14%
  • 3-Year CAGR: +24.73%
  • 5-Year CAGR: +26.48%

This Fund is managed by an experienced group of fund managers named Sanjeev Sharma, Sandeep Tandon, Ankit A. Pande, Yug Tibrewal, Varun Pattani, Sameer Kate, and Ayusha Kumbhat. The fund focuses on an active investment style which is a mix of equities, debt instruments, and commodities. The top holdings of the fund are Nippon India ETF Gold BeES, HDFC Bank, Kotak Mahindra Bank, and Nifty Bank. The scheme is known for its aggressive asset allocation approach which allows the fund managers to shift exposure across asset classes depending on market conditions. This flexibility has helped the fund deliver strong returns within the hybrid mutual fund category and made it a notable option for many investors.

2. Nippon India Multi-Asset-Allocation Fund Direct Growth

• NAV (As of 12th March 2026): ₹25.75
• AUM: ₹13,438 Cr
• Expense Ratio: 0.30%
• Exit Load: Exit Load for units in access to 10% of the investment. If redeemed within 12 months it would be 1%
• Category: Multi Asset Allocation
• Performance Snapshot
  • 1-Year Return: +25.54%
  • 3-Year CAGR: +22.93%
  • 5-Year CAGR: +17.52%

The Nippon India Multi Asset Allocation Fund is managed by the experienced fund manager Vinay Sharma. The fund’s investment is across equity, debt and commodities. Some of the top holdings include iShares MSCI World ET, Nippon India ETF Gold BeES and Nippon India Silver ETF. 

3. SBI Multi Asset Allocation Fund

• NAV (As of 12th March 2026): ₹73.03
• AUM: ₹16,366 cr
• Expense Ratio: 0.59%
• Exit Load: Exit Load for units in access to 10% of the investment. 1% If redeemed within 12 months
• Category: Multi Asset Allocation
• Performance Snapshot:
  • 1-Year Return: +22.67%
  • 3-Year CAGR: +19.93%
  • 5-Year CAGR: +15.63%

The SBI Multi Asset Allocation Fund is managed by a list of fund managers namely Dinesh Balachandran, Mansi Sajeja, Pradeep Kesavan and Vandna Soni. The fund follows an investment style that follows exposure to equities, fixed-income and commodities such as gold and silver. The top holdings in the portfolio include SBI Silver ETF-Growth, Brookfield India Real Estate Trust REIT, SBI Gold ETF, Adani Power Ltd., and Punjab National Bank. The scheme aims to provide balanced returns by allocating investments across different asset classes.

4. HSBC Multi Asset Active FoF 

• NAV (As of 12th March 2026): ₹41.58
• AUM: ₹89.81 cr
• Expense Ratio: 0.55%
• Exit Load: Load of 1% if redeemed within 1 year
• Category: Multi-Asset Allocation
• Performance Snapshot
  • 1-Year Return: +23.89
  • 3-Year CAGR: +18.08%
  • 5-Year CAGR: +13.40%

The HSBC Multi Asset Active FoF comes under fund manager Gautam Bhupal. The top holdings of this fund are HSBC Value Fund Direct-Growth, HSBC Multi Cap Fund Direct – Growth, HSBC Large and Mid Cap Fund Direct – Growth, HSBC Focused Fund Direct – Growth, HSBC Flexi Cap Fund Direct-Growth, and Nippon India Silver ETF – Growth. 

Also read: 7 Best Pharma Sector Mutual Funds Delivering Up to 28.4% CAGR in the Last 3 Years

5. Nippon India Multi Asset Omni FoF

• NAV (As of 12th March 2026): ₹23.97
• AUM: ₹2,304 cr
• Expense Ratio: 0.11%
• Exit Load: Exit Load for units in access to 10% of the investment. 1% If redeemed within 12 months
• Category: Multi Asset Allocation
• Performance Snapshot
  • 1-Year Return: +20.37%
  • 3-Year CAGR: +21.67%
  • 5-Year CAGR: +18.02%

The Nippon India Multi Asset Omni FoF is managed by well known fund managers namely Ashutosh Bhargava and Sushil Budhia. The top holdings includes Nippon India Large Cap Fund Direct-Growth, Nippon India ETF Gold BeES, Nippon India Growth Mid Cap Fund Direct- Growth, Nippon India Nifty Smallcap 250 Index Fund Direct – Growth, and Nippon India Short Duration Fund Direct-Growth. 

6. Axis Multi Asset Allocation Fund 

• NAV (As of 12th March 2026): ₹51.03
• AUM: ₹2,175 cr
• Expense Ratio: 0.87%
• Exit Load: Exit Load for units in access to 10% of the investment. Load of 1% If redeemed within 12 months. 
• Category: Multi Asset Allocation
• Performance Snapshot
  • 1-Year Return: +21.44%
  • 3-Year CAGR: +17.19%
  • 5-Year CAGR: +12.31%

The Axis Multi Asset Allocation Fund is managed by Devang Shah, Aditya Pagaria, Ashis Naik, Hardik Shah, Pratik Tibrewalo, and Krishnaa Narayan. Some of the top holdings include Axis Gold ETF-Growth, HDFC Bank Ltd., ICICI Bank Ltd., Axis Silver ETF Regular-Growth, and State Bank of India. The scheme focuses on generating steady returns through versatile asset allocation and diversification across sectors.

7. Kotak Multi Asset Omni FoF

• NAV (As of 12th March 2026):  ₹274.59
• AUM: ₹2,448 cr
• Expense Ratio: 0.39%
• Exit Load: Exit Load for units in access to 8% of the investment. Load will be 1% If redeemed within 12 months. 
• Category: Multi Asset Allocation
• Performance Snapshot
  • 1-Year Return: +22.28%
  • 3-Year CAGR: +20.33%
  • 5-Year CAGR: +18.05%

This fund is managed by two of the most experienced fund managers namely Divender Singhal & Abhishek Bisen. The fund invests in various mutual funds managed by Kotak Mahindra Asset Management Company. Some of the top holdings are Kotak Gold ETF, Kotak Nifty PSU Bank Exchange Traded Fund, Kotak Infrastructure and Economic Reform Fund Direct-Growth, and Kotak Nifty IT ETF – Growth. The fund provides diversified exposure across asset classes while striving for stable returns.

Comparison Table for Hybrid Mutual Funds

References: Data related to NAV, AUM, expense ratio and historical returns have been sourced from publicly available mutual fund data platforms including Groww website. All figures are based on information available as of 12th March 2026.

Conclusion

Hybrid mutual funds attract many investors with its feature of relatively lower volatility compared to equity funds. The investors who are interested and ready to take a little volatility and want a portfolio that combines equity, debt and commodity exposure can opt for  multi-asset hybrid funds. But it is suggested to investors that they should always review risk factors before making any investment decisions.

Disclaimer: This article is for informational purposes only and does not replace any professional investment advice. Mutual funds and investments are always related to market risks and past performance does not guarantee future gain. Investors should carefully read the scheme information document and consult a qualified financial advisor before investing.

Written by Kenbi Riba