Best Balanced Advantage Mutual Funds
Balanced advantage (dynamic asset allocation) funds move between equity and debt based on market valuations, adding more stocks when they look cheap and trimming when they look dear. The goal is a smoother ride.
Top balanced advantage mutual funds by 3Y returns
20Direct plan, Growth option — ranked by 3-year CAGR. Open a fund for NAV history, rolling returns, risk metrics and peer rank.
As of 06 Oct 2026, quant Dynamic Asset Allocation Fund (Direct plan, Growth option) leads balanced advantage mutual funds on 3-year CAGR at +13.17%, followed by Aditya Birla Sun Life Balanced Advantage Fund at +11.38% and Baroda BNP Paribas Balanced Advantage Fund at +11.38%. Across 37 balanced advantage mutual funds the category averaged +9.10% over three years, at an average expense ratio of 1.08%. All figures are computed from public AMFI NAV history and recomputed daily; past returns do not predict future ones.
| 1 | quant Dynamic Asset Allocation Fund quant | ★★★☆☆ | -1.1% | +13.2% | — | 1.54% | ₹865.62Cr |
| 2 | Aditya Birla Sun Life Balanced Advantage Fund Aditya Birla Sun Life | ★★★★☆ | +5.1% | +11.4% | +9.9% | 0.89% | ₹9,895Cr |
| 3 | Baroda BNP Paribas Balanced Advantage Fund Baroda BNP Paribas | ★★★★☆ | +3.5% | +11.4% | +10.4% | 0.92% | ₹5,204Cr |
| 4 | WhiteOak Capital Balanced Advantage Fund WhiteOak Capital | ★★★★☆ | +2.3% | +11.3% | — | 0.83% | ₹2,274Cr |
| 5 | Axis Balanced Advantage Fund Axis | ★★★★☆ | +0.9% | +10.9% | +9.3% | 1.07% | ₹3,812Cr |
| 6 | Mahindra Manulife Balanced Advantage Fund Mahindra Manulife | ★★★★☆ | +1.7% | +10.6% | — | 0.83% | ₹911.67Cr |
| 7 | ICICI Prudential Balanced Advantage Fund ICICI Prudential | ★★★★★ | +2.1% | +10.6% | +10.2% | 1.03% | ₹74,079Cr |
| 8 | HDFC Balanced Advantage Fund HDFC | ★★★★☆ | -2.2% | +10.5% | +13.3% | 0.78% | ₹1,06,770Cr |
| 9 | Edelweiss Balanced Advantage Fund Edelweiss | ★★★☆☆ | +2.6% | +10.2% | +9.0% | 0.82% | ₹13,230Cr |
| 10 | Nippon India Balanced Advantage Fund Nippon India | ★★★☆☆ | +1.3% | +10.1% | +9.3% | 0.89% | ₹9,855Cr |
| 11 | DSP Dynamic Asset Allocation Fund DSP | ★★★☆☆ | +2.5% | +10.0% | +8.5% | 1.04% | ₹3,792Cr |
| 12 | Mirae Asset Balanced Advantage Fund Mirae Asset | ★★★★☆ | +3.1% | +10.0% | — | 0.98% | ₹2,157Cr |
| 13 | Bandhan Balanced Advantage Fund Bandhan | ★★★☆☆ | +3.7% | +9.4% | +8.0% | 1.07% | ₹2,267Cr |
| 14 | HSBC Balanced Advantage Fund HSBC | ★★★☆☆ | +1.3% | +9.4% | — | 1.15% | ₹1,517Cr |
| 15 | SBI Balanced Advantage Fund SBI | ★★★★★ | +0.5% | +9.3% | +9.7% | 0.86% | ₹41,731Cr |
| 16 | Franklin India Balanced Advantage Fund Franklin Templeton | ★★★★☆ | -1.2% | +9.1% | — | 0.80% | ₹2,810Cr |
| 17 | Kotak Balanced Advantage Fund Kotak Mahindra | ★★★☆☆ | +0.4% | +9.1% | +8.6% | 0.83% | ₹17,304Cr |
| 18 | ITI Balanced Advantage Fund ITI | ★★★☆☆ | -0.5% | +8.7% | +7.7% | 1.59% | ₹346.21Cr |
| 19 | Bank of India Balanced Advantage Fund Bank of India | ★☆☆☆☆ | +3.0% | +8.7% | +10.1% | 1.39% | ₹175.38Cr |
| 20 | Invesco India Balanced Advantage Fund Invesco | ★★★☆☆ | -2.3% | +8.6% | +8.3% | 1.17% | ₹950.63Cr |
NAV data as of 06 Oct 2026. Returns are CAGR for periods ≥1 year, computed from AMFI NAV history. Ratings are WealthTicker’s own, ranked within sub-category peers — not a SEBI or agency rating. See our methodology for every formula. This is data, not investment advice.
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Frequently asked questions
What are balanced advantage mutual funds?
Balanced advantage (dynamic asset allocation) funds move between equity and debt based on market valuations, adding more stocks when they look cheap and trimming when they look dear. The goal is a smoother ride.
Which is the best balanced advantage fund right now?
quant Dynamic Asset Allocation Fund by quant currently ranks first among balanced advantage mutual funds by 3-year CAGR at +13.17%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have balanced advantage mutual funds given?
The category has averaged +0.72% over 1 year, +9.10% annualized over 3 years, +8.63% annualized over 5 years — peer averages over the live funds in the category, computed from AMFI NAV history.
How are balanced advantage mutual funds taxed?
It depends on what the individual scheme holds, not on the category. A scheme holding more than 65% in Indian equity is taxed as equity (20% short-term, 12.5% long-term above ₹1.25 lakh a year); one holding more than 65% in debt is taxed at your slab rate whatever the holding period; anything in between is taxed at slab within 24 months and 12.5% after. Each fund's page states which rule applies to it.