Best Money Market Fund Mutual Funds
Money Market funds invest in instruments maturing within one year. They sit slightly further out on the risk and return curve than liquid funds.
We currently track 29 direct-plan Money Market Fund schemes from 27 fund houses with a median 5-year CAGR of 6.7%. Every figure below is calculated from official daily NAV history and refreshed each day. Use the column headers to re-rank the table by any period — the best 1-year performer is often not the best over 5 or 10 years, which is exactly why we default to the longer horizon.
Showing 29 of 29 schemes · sorted by Y5 high to low · page 1 of 1
- Tata Money Market Fund - Direct Plan - Growth OptionTata · Debt₹5,234.53#11Y+6.61%3Y+7.52%5Y+6.89%10Y+6.05%
- Nippon India Money Market Fund - Direct Plan - Growth OptionNippon India · Debt₹4,569.47#21Y+6.50%3Y+7.41%5Y+6.81%10Y+6.76%
- Axis Money Market Fund - Direct Plan - Growth OptionAxis · Debt₹1,570.81#31Y+6.59%3Y+7.45%5Y+6.80%10Y—
- Aditya Birla Sun Life Money Market Fund - Direct Plan - GROWTHAditya Birla Sun Life · Debt₹407.51#41Y+6.54%3Y+7.41%5Y+6.80%10Y+6.84%
- UTI - Money Market Fund - Direct Plan - GrowthUTI · Debt₹3,391.81#51Y+6.50%3Y+7.38%5Y+6.77%10Y+6.73%
- HDFC Money Market Fund - Direct Plan - Growth OptionHDFC · Debt₹6,336.04#61Y+6.53%3Y+7.38%5Y+6.76%10Y+6.76%
- Kotak Money Market Fund - Direct Plan - (Growth)Kotak Mahindra · Debt₹4,927.09#71Y+6.55%3Y+7.38%5Y+6.75%10Y+6.65%
- ICICI Prudential Money Market Fund - Direct Plan - GrowthICICI Prudential · Debt₹417.35#81Y+6.50%3Y+7.37%5Y+6.73%10Y+6.70%
- Bandhan Money Market Fund - Direct Plan - GrowthBandhan · Debt₹47.48#91Y+6.62%3Y+7.41%5Y+6.72%10Y+6.48%
- SBI Money Market Fund - Direct Plan - GrowthSBI · Debt₹48.26#101Y+6.38%3Y+7.31%5Y+6.69%10Y+6.75%
- Franklin India Money Market Fund - Direct Plan - Retail Plan GrowthFranklin Templeton · Debt₹56.35#111Y+6.55%3Y+7.40%5Y+6.68%10Y+6.77%
- Mirae Asset Money Market Fund - Direct Plan - GrowthMirae Asset · Debt₹1,387.75#121Y+6.44%3Y+7.40%5Y+6.65%10Y—
- PGIM India Money Market Fund - Direct Plan - Direct GrowthPGIM India · Debt₹1,482.44#131Y+6.33%3Y+7.18%5Y+6.64%10Y—
- Sundaram Money Market Fund - Direct Plan - GROWTHSundaram · Debt₹16.40#141Y+6.49%3Y+7.28%5Y+6.57%10Y—
- Union Money Market Fund - Direct Plan - Growth OptionUnion · Debt₹1,377.50#151Y+6.77%3Y+7.22%5Y+6.53%10Y—
- Edelweiss Money Market Fund - Direct Plan - GrowthEdelweiss · Debt₹34.07#161Y+6.56%3Y+7.32%5Y+6.52%10Y—
- Invesco India Money Market Fund - Direct Plan - GrowthInvesco · Debt₹3,421.18#171Y+6.46%3Y+7.24%5Y+6.51%10Y+6.52%
- Baroda BNP Paribas Money Market Fund - Direct Plan - Growth OptionBaroda BNP Paribas · Debt₹1,520.25#181Y+6.50%3Y+7.26%5Y+6.50%10Y—
- DSP Money Market Fund - Direct Plan - GrowthDSP · Debt₹58.93#191Y+6.53%3Y+7.23%5Y+6.50%10Y+6.45%
- Edelweiss Money Market FundEdelweiss · Debt₹26.24#201Y+5.92%3Y+6.62%5Y+5.79%10Y—
- LIC MF Money Market Fund - Direct Plan - GrowthLIC · Debt₹1,309.30#211Y+6.61%3Y+6.80%5Y—10Y—
- TRUSTMF Money Market Fund - Direct Plan - GrowthTrust · Debt₹1,329.68#221Y+6.45%3Y+7.16%5Y—10Y—
- HSBC Money Market Fund - Direct Plan - GrowthHSBC · Debt₹30.07#231Y+6.47%3Y+7.31%5Y—10Y—
- Bajaj Finserv Money Market Fund - Direct Plan - GrowthBajaj Finserv · Debt₹1,261.38#241Y+6.50%3Y+7.37%5Y—10Y—
- Bank of India Money Market Fund - Direct Plan - GrowthBank of India · Debt₹11.24#251Y+6.59%3Y—5Y—10Y—
- JioBlackRock Money Market Fund - Direct Plan - Growth OptionJio BlackRock · Debt₹1,081.72#261Y+6.42%3Y—5Y—10Y—
- Groww Money Market Fund - Direct Plan - GrowthGroww · Debt₹10.54#271Y+5.32%3Y—5Y—10Y—
- Groww Money Market Fund - Direct Plan - Income Distribution cum capital withdrawalGroww · Debt₹10.54#281Y+5.32%3Y—5Y—10Y—
- Shriram Money Market Fund - Direct Plan - GrowthShriram · Debt₹1,047.23#291Y—3Y—5Y—10Y—
Money Market Fund funds — frequently asked questions
Which Money Market Fund fund has the highest 5-year CAGR?
Tata Money Market Fund - Direct Plan - Growth Option currently leads the Money Market Fund category with a 5-year CAGR of 6.9%. Past returns describe what already happened and do not predict future performance — treat the ranking as a starting point for research, not a recommendation.
What is a good 5-year return for a Money Market Fund fund?
Across the 29 Money Market Fund schemes we track, the median 5-year CAGR is 6.7%. Comparing a fund against that median, rather than against the category's single best performer, is a more realistic benchmark.
How is CAGR calculated on this page?
CAGR is the compound annual growth rate between the NAV on the horizon start date and the latest NAV, using growth-plan NAVs published by the AMCs. Where a scheme's NAV history has a gap or a re-denomination, we adjust for it rather than report a distorted figure. Expense ratios are already reflected in NAV; exit loads and taxes are not.
Why does this list only show direct plans?
Direct plans have no distributor commission, so their expense ratio is lower and their NAV growth is higher than the regular plan of the same scheme. Showing both would list every fund twice, so we rank direct plans only.