International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Focused vs Diversified Mutual Funds in India: A Decade long Comparative Study of Performance, Risk, and Cost (2014–2024)

Author(s) Mr. Antonyrohan I, Sivabharath C, Bhavana A, Krishnamoorthy K
Country India
Abstract This study presents a comprehensive comparative analysis of focused and diversified equity mutual funds in the Indian financial market over the period 2014 to 2024. Focused funds, which invest in a limited number of high-conviction stocks, and diversified funds, which spread investments across various sectors and capitalizations, represent contrasting approaches to equity investment. Using secondary data from 28 mutual fund schemes and applying performance metrics such as Sharpe Ratio, Jensen’s Alpha, Beta, and rolling returns, the research evaluates risk-adjusted performance, cost structures, and volatility. The findings indicate that while focused funds have the potential to deliver higher mid-term returns, they carry significantly greater volatility and market sensitivity. In contrast, diversified funds offer more consistent and stable returns, making them more suitable for long-term investors with conservative risk profiles. The study also reveals no significant correlation between higher expense ratios and better performance, challenging assumptions about active fund management efficiency. These insights are valuable for investors, financial advisors, asset managers, and policymakers aiming to align mutual fund investments with investor goals and risk tolerance.
Keywords Focused Funds, Diversified Mutual Funds, Risk-Adjusted Returns, Sharpe Ratio, Expense Ratio.
Published In Volume 7, Issue 4, July-August 2025
Published On 2025-08-24
DOI https://doi.org/10.36948/ijfmr.2025.v07i04.53504
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E-ISSN 2582-2160
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