These equity mutual funds failed to outperform their respective benchmarks in 3 years

These 6 equity mutual fund schemes had the highest down capture ratio in 3 years, according to the data by ACE MF. We considered the schemes which had a down capture ratio of more than 150.

This ratio is used to measure fund managers overall performance in down markets. A down capture ratio less than 100 signifies that an investment has outperformed its benchmark during times when the benchmark experienced negative returns.

The schemes that had a down capture ratio of more than 150 were from the same category. All these six funds were arbitrage funds.

This arbitrage fund had a down capture ratio of 329.27. This indicates that the scheme has lost more than its benchmark when the market was in the red zone.

This arbitrage fund had a down capture ratio of 202.33. This indicates that the fund has lost more than its benchmark when the market was in the red.

Two schemes - Kotak Equity Arbitrage Fund and Edelweiss Arbitrage Fund - had a down capture ratio of 181.38 and 181.28. This indicates that the funds have lost more than its benchmark when the market was in the red.

This fund had a down capture ratio of 154.60. This indicates that the fund has lost more than its benchmark when the market was in the red.

This fund had a down capture ratio of 151.41. This indicates that the fund has lost more than its benchmark when the market was in the red.