Best Manufacturing Funds
Make-in-India: industrials, defence and capital goods.
Data updated · 13 direct-growth funds ranked by a transparent 0–100 Smart Score
| ⚖ VS | Fund | Score ↓ | Verdict | 1Y | 3Y | 5Y | Sharpe | Sortino | Std Dev | Alpha | Beta | VR★ | P/E | Expense | AUM | Age |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis India ManufacturIng Axis | 77 | Buy | 13.5% | — | — | 0.86 | 1.17 | 16.0 | 11.1 | 1.01 | — | 39.8 | 0.94% | ₹5.8k Cr | 2.8y | |
| Bank Of India Mfg & Infra Bank of India | 73 | Buy | 15.9% | 21.7% | 20.9% | 0.96 | — | 18.1 | 8.4 | 1.09 | — | — | 1.03% | ₹949 Cr | 13.7y | |
| Kotak Manufacture In India Kotak | 64 | Buy | 15.0% | 20.0% | — | 0.92 | 1.15 | 17.1 | 1.1 | 0.96 | — | 35.3 | 0.75% | ₹3.1k Cr | 4.6y | |
| Canara Robeco ManufacturIng Canara Robeco | 59 | Hold | 9.3% | — | — | 0.59 | 0.80 | 17.2 | 8.6 | 1.07 | — | 37.7 | 0.95% | ₹1.8k Cr | 2.5y | |
| ABSL ManufacturIng Equity Aditya Birla Sun Life | 55 | Hold | 20.8% | 21.1% | 15.3% | 0.98 | 1.25 | 17.9 | 2.7 | 0.97 | — | — | 1.39% | ₹1.4k Cr | 11.6y | |
| HDFC ManufacturIng HDFC | 53 | Hold | 5.7% | — | — | 0.10 | 0.13 | 15.9 | 2.1 | 1.01 | — | 21.9 | 0.93% | ₹10.8k Cr | 2.4y | |
| Invesco India ManufacturIng Invesco | 49 | Hold | 11.8% | — | — | 0.16 | 0.22 | 17.0 | 8.4 | 1.08 | — | 44.7 | 1.10% | ₹758 Cr | 2.1y | |
| ICICI Pru ManufacturIng ICICI Pru | 42 | Avoid | 6.8% | 19.3% | 19.0% | 0.90 | — | 18.2 | 1.0 | 1.02 | — | — | 1.21% | ₹7.2k Cr | 7.9y | |
| Baroda BNP Paribas ManufacturIng Baroda BNP Paribas | 42 | Avoid | 10.7% | — | — | -0.09 | -0.11 | 14.6 | 3.1 | 0.94 | — | 33.7 | 1.31% | ₹850 Cr | 2.2y | |
| LIC MF ManufacturIng LIC | 41 | Avoid | 13.2% | — | — | 0.14 | 0.20 | 17.4 | 9.3 | 1.07 | — | 14.4 | 1.48% | ₹781 Cr | 1.9y | |
| Mahindra Manulife Manufacturing Mahindra Manulife | 30 | Avoid | 8.5% | — | — | -0.13 | -0.17 | 15.0 | 1.9 | 0.99 | — | 33.4 | 1.20% | ₹684 Cr | 2.2y | |
| Quant ManufacturIng Quant | 24 | Avoid | 12.1% | 16.8% | — | 0.65 | 0.75 | 22.3 | -2.7 | 1.13 | — | 40.8 | 1.48% | ₹740 Cr | 3.1y | |
| Motilal Oswal ManufacturIng Motilal Oswal | 7 | Avoid | -3.3% | — | — | — | — | — | — | — | — | 54.2 | 2.01% | ₹700 Cr | 2.1y |
Manufacturing funds — quick answers
›Which is the best Manufacturing mutual fund right now?
Axis India ManufacturIng currently ranks #1 of 13 Manufacturing funds with a FundLens Smart Score of 77/100 (Buy). It returned — over 3 years at a 0.94% expense ratio (direct plan). Rankings are recomputed from data updated 20 Sept 2026.
›Which Manufacturing fund has the best risk-adjusted returns?
ABSL ManufacturIng Equity leads the category on the Sortino ratio at 1.25 (Sharpe 0.98) — meaning it has delivered the most return per unit of downside risk among Manufacturing funds.
›Which Manufacturing fund has the lowest expense ratio?
Kotak Manufacture In India charges 0.75% a year (direct plan) — the lowest in the category. Lower fees compound in your favour over long holding periods.
›Which is the smallest Manufacturing fund by AUM?
Mahindra Manulife Manufacturing manages ₹684 Cr, the smallest in the category. Smaller funds can be nimbler, but check track record and costs before treating size alone as an edge.
›How long should I stay invested in a Manufacturing fund?
Manufacturing funds carry very high risk, so a horizon of 7+ years is generally sensible. Make-in-India: industrials, defence and capital goods. This is research, not investment advice.
Want these answers conversationally? Ask FundLens · New to the ratios? Sharpe vs Sortino, explained