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MFLens Learn

Understand Mutual Fund Risk Ratios

Trailing returns tell you what happened. These 11 ratios tell you how it happened — and whether the ride was worth it. Each guide below explains a ratio in plain English, shows the formula, walks through a real example, and tells you what a good number looks like.

Fund Basics

SEBI Fund Categories

Large cap, mid cap, flexi cap, ELSS, hybrid — what SEBI actually rules each category can hold.

Risk-Adjusted Return

Sharpe Ratio

Return earned per unit of total risk taken.

Sortino Ratio

Like Sharpe, but only penalises harmful downward volatility.

Treynor Ratio

Return earned per unit of systematic (market) risk.

Calmar Ratio

Annual return divided by maximum drawdown — rewards returns with crash protection.

Return Attribution

Alpha

Excess return beyond what the market and Beta would predict.

Information Ratio

Consistency of alpha generation relative to benchmark deviation.

Market Sensitivity

Beta

How much the fund moves when the broader market moves.

Standard Deviation

How much fund returns fluctuate around their average.

Capture & Drawdown

Upside Capture Ratio

How much of the market's gains the fund captures in rising markets.

Downside Capture Ratio

How much of the market's losses the fund suffers in falling markets.

Max Drawdown

The largest peak-to-trough NAV decline over a period.

Ready to check these ratios for a real fund?

MFLens shows all 11 ratios across 1Y / 3Y / 5Y / 7Y / 10Y rolling windows.

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