{"id":78078,"date":"2026-10-28T18:22:57","date_gmt":"2026-10-28T12:52:57","guid":{"rendered":"https:\/\/www.5paisa.com\/finschool\/?post_type=markets&#038;p=78078"},"modified":"2026-10-28T18:24:04","modified_gmt":"2026-10-28T12:54:04","slug":"know-your-funds","status":"publish","type":"markets","link":"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/know-your-funds\/","title":{"rendered":"Know Your Funds"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"78078\" class=\"elementor elementor-78078\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4be72f6 elementor-section-full_width tab_container elementor-section-height-default elementor-section-height-default\" data-id=\"4be72f6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d209c0c\" data-id=\"d209c0c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-896d102 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"896d102\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c9133f2 chapters_list\" data-id=\"c9133f2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aa101bd elementor-widget elementor-widget-shortcode\" data-id=\"aa101bd\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\t<script>\n\t\tjQuery(document).ready(function(){\n\t\t\tjQuery(\"#post_chapters a[href*='\" + location.pathname + \"']\")\n\t\t\t\t.addClass(\"current\")\n\t\t\t\t.attr(\"aria-current\", \"page\");\n\t\t})\n\t<\/script>\n\t<div class=\"desktop_chapters\"><div id=\"post_chapters\"><div class=\"post_chapters-heading\">Chapters<\/div><ul><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/background-and-orientation\/\">Background and Orientation<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/personal-finance-math\/\">Personal Finance Math<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/money-today-vs-money-tommorrow\/\">Money Today vs Money Tommorrow<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/the-retirement-part-1\/\">The Retirement -Part 1<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/assumptions-in-retirement-planning\/\">Assumptions in Retirement Planning<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/understanding-stock-funds\/\">The Role of Mutual Funds in Modern Finance<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/concept-of-fund-and-nav\/\">Concept of Fund and NAV<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/understanding-the-performance-of-your-fund\/\">Mutual Fund Factsheet<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/the-equity-scheme\/\"> The Equity Scheme<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/equity-scheme-part-2\/\">Equity Scheme Part 2<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/debt-funds-part-1\/\">Debt Funds Part 1<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/monitoring-your-portfolio\/\">Debt Funds Part 2<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/debt-funds-part-3\/\">Debt Funds Part 3<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/debt-funds-part-4\/\">Debt Funds Part 4<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/investing-in-bonds\/\">Investing in Bonds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/index-funds\/\">Index Funds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/arbitrage-funds\/\">Arbitrage Funds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/measuring-mutual-fund-returns\/\">Measuring Mutual Fund Returns<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/rolling-returns\/\">Rolling Returns<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/mutual-fund-expense-ratio\/\">Mutual Fund Expense Ratio<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/mutual-fund-benchmarking\/\">Mutual Fund Benchmarking<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/mutual-fund-beta-sd-and-sharpe-ratio\/\">Mutual Fund Beta SD and Sharpe Ratio<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/sortino-and-capture-ratios\/\">Sortino and Capture Ratios<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/how-to-analyse-equity-mutual-funds\/\">How to Analyse Equity Mutual Funds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/how-to-analyse-debt-mutual-fund\/\">How to Analyse Debt Mutual Fund<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/mutual-fund-portfolio\/\">Mutual Fund Portfolio<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/smart-beta-funds\/\">Smart Beta Funds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/asset-allocation\/\">Asset Allocation<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/exchange-traded-funds\/\">Exchange Traded Funds<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/basics-of-macro-economics\/\">Basics of Macro Economics<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/personal-finance-part-1\/\">Personal Finance-Part 1<\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/personal-finance-review-part-2\/\">Personal Finance Review Part 2 <\/a><\/li><li><i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i>&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/know-your-funds\/\">Know Your Funds<\/a><\/li><\/ul><\/div><\/div><div class=\"chapters_toggle\"><a href=\"#\" id=\"open_chapters\" aria-label=\"View chapters\"><span>View Chapters<\/span>&nbsp;&nbsp;&nbsp;<i class=\"fa fa-chevron-right\" aria-hidden=\"true\"><\/i><\/a><a href=\"#\" id=\"close_chapters\" style=\"display:none;\" 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class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-50ea166 tabs_contents\" data-id=\"50ea166\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e1f2ae market_content_tabs elementor-widget elementor-widget-eael-adv-tabs\" data-id=\"1e1f2ae\" data-element_type=\"widget\" data-widget_type=\"eael-adv-tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div data-scroll-on-click=\"no\" data-scroll-speed=\"300\" id=\"eael-advance-tabs-1e1f2ae\" class=\"eael-advance-tabs eael-tabs-horizontal eael-tab-auto-active \" data-tabid=\"1e1f2ae\">\n            <div class=\"eael-tabs-nav \">\n                <ul class=\"eael-tab-inline-icon\" role=\"tablist\">\n                                            <li id=\"study\" class=\"active-default eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"study-tab\" aria-expanded=\"false\">\n                            \n                                                                <i class=\"far fa-edit\"><\/i>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Study<\/span>                            \n                                                    <\/li>\n                                            <li id=\"slides\" class=\" eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"slides-tab\" aria-expanded=\"false\">\n                            \n                                                                <i class=\"fas fa-book-open\"><\/i>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Slides<\/span>                            \n                                                    <\/li>\n                                            <li id=\"videos\" class=\" eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"videos-tab\" aria-expanded=\"false\">\n                            \n                                                                <i class=\"far fa-eye\"><\/i>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Videos<\/span>                            \n                                                    <\/li>\n                    \n                                  <\/ul>\n            <\/div>\n            \n            <div class=\"eael-tabs-content\">\n\t\t        \n                    <div id=\"study-tab\" class=\"clearfix eael-tab-content-item active-default\" data-title-link=\"study-tab\">\n\t\t\t\t        <p><div class='white' style='background:rgb(255, 255, 255); border:solid 0px rgb(255, 255, 255); border-radius:0px; padding:0px 0px 0px 1px;'>\n<div id='text_slider' class='owl-carousel sa_owl_theme owl-pagination-true' data-slider-id='text_slider' style='visibility: visible;visibility:visible;'>\n<div id='text_slider_slide01' class='sa_hover_container' data-hash='Trailing-Returns' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.1 \u2013 Trailing Returns<\/b><\/strong><\/h2>\r\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-78070 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns.png\" alt=\"Trailing Returns\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Trailing returns are like snapshots of how a fund has performed over specific timeframes\u20141, 3, 5, and 7 years. Think of it as looking at your child\u2019s report card at different stages: one year shows short-term progress, three years smooths out temporary ups and downs, five years often covers a full cycle of boom and bust, and seven years reveals whether the fund can truly stand the test of time.<\/p>\r\n<p>For example, if a fund beats its benchmark consistently over five years, it shows resilience across market cycles. But if it only shines in one year, it may just be luck. Always compare against the <strong><b>Total Return Index<\/b><\/strong>\u00a0(TRI), which includes dividends, for a fairer picture.<\/p>\r\n<p>Trailing returns are calculated using point-to-point CAGR (Compounded Annual Growth Rate)\u00a0over fixed periods.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: CAGR =(Ending NAV\/Beginning NAV)<sup>1\/n <\/sup>\u00a0-1<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: If NAV grew from \u20b9100 to \u20b9180 in 5 years, CAGR = (180\/100)^(1\/5) \u2212 1 \u2248 12.47%.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Trailing returns are easy to understand but can be misleading if the chosen period coincides with unusual market conditions (e.g., post-COVID rebound).<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide02' class='sa_hover_container' data-hash='Rolling-Returns' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.2 \u2013 Rolling Returns<\/b><\/strong><\/h2>\r\n<p><img decoding=\"async\" class=\"aligncenter wp-image-78071 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1.png\" alt=\"Rolling Returns\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Trailing returns give one snapshot; rolling returns give the movie. Instead of checking one 3year period, rolling returns calculate performance for every possible 3year (or 5year) window in the fund\u2019s history.<\/p>\r\n<p>Imagine you invested in 2010, 2012, or 2015\u2014rolling returns show how the fund would have performed in each case. A fund that beats its benchmark in 90% of rolling periods is far more reliable than one that only edges past half the time.<\/p>\r\n<p>This measure highlights consistency, which is often more important than one off outperformance.<\/p>\r\n<p>Rolling returns smooth out biases by calculating CAGR across overlapping windows.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: For a 3-year rolling return, you calculate CAGR for Jan 2010\u2013Jan 2013, Feb 2010\u2013Feb 2013, and so on.<\/li>\r\n<li><b><\/b><strong><b>Data Point<\/b><\/strong>: A fund beating its benchmark in 85\u201390% of rolling periods is considered highly consistent.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Rolling returns reveal whether performance is repeatable or just a one off lucky streak.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide03' class='sa_hover_container' data-hash='Calendar-Year-Rankings' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.3 \u2013 Calendar Year Rankings<\/b><\/strong><\/h2>\r\n<p><img decoding=\"async\" class=\"aligncenter wp-image-78072 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking.png\" alt=\"Calendar Year Ranking\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Absolute returns can mislead. If the whole market rises 25%, even a mediocre fund looks good. Calendar year rankings compare a fund against peers in the same category.<\/p>\r\n<p>For example, if a fund ranks in the top 25% year after year, it signals strong management. But if it swings wildly\u2014top one year, bottom the next\u2014it suggests concentrated bets or inconsistent strategy. Consistent bottom quartile rankings are a red flag.<\/p>\r\n<p>This metric helps you see whether your fund is genuinely competitive among its peers.<\/p>\r\n<p><strong><b>Quick Reference: Calendar Year Rankings<\/b><\/strong><\/p>\r\n<p>Calendar year rankings compare funds within their peer group.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Quartile System<\/b><\/strong>: Top 25% = 1st quartile, bottom 25% = 4th quartile.<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: A mid-cap fund ranked in the top quartile for 7 out of 10 years shows strong management skill.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Rankings highlight relative competitiveness, not just absolute numbers.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide04' class='sa_hover_container' data-hash='Risk-Adjusted-Ratios' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.4 \u2013 Risk-Adjusted Ratios<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78073 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio.png\" alt=\"Risk Adjusted Ratio\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Returns alone don\u2019t tell the full story. Risk-adjusted ratios measure whether the returns are worth the volatility.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Standard Deviation<\/b><\/strong>\u2013 Lower means smoother performance.<\/li>\r\n<li><b><\/b><strong><b>Sharpe Ratio<\/b><\/strong>\u2013 Higher means better returns per unit of risk.<\/li>\r\n<li><b><\/b><strong><b>Sortino Ratio<\/b><\/strong>\u2013 Focuses only on downside risk, ignoring upside surprises.<\/li>\r\n<li><b><\/b><strong><b>Information Ratio<\/b><\/strong>\u2013 Shows consistency of beating the benchmark.<\/li>\r\n<li><b><\/b><strong><b>Upside Capture<\/b><\/strong>\u2013 How much of the market\u2019s gains the fund captures.<\/li>\r\n<li><b><\/b><strong><b>Downside Capture<\/b><\/strong>\u2013 How much of the market\u2019s losses the fund suffers.<\/li>\r\n<\/ul>\r\n<p>For example, a fund with high upside capture and low downside capture is ideal\u2014it grows faster in rallies and falls less in crashes.<\/p>\r\n<p><strong><b>Quick Reference: Risk-Adjusted Ratios<\/b><\/strong><\/p>\r\n<p>Risk-adjusted ratios balance return with volatility.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Standard Deviation<\/b><\/strong>: Measures volatility. Lower = smoother ride.<\/li>\r\n<li><b><\/b><strong><b>Sharpe Ratio<\/b><\/strong>: . Higher = better risk adjusted performance.<\/li>\r\n<li><b><\/b><strong><b>Sortino Ratio<\/b><\/strong>: Focuses only on downside volatility.<\/li>\r\n<li><b><\/b><strong><b>Information Ratio<\/b><\/strong>: Measures excess return consistency vs benchmark.<\/li>\r\n<li><b><\/b><strong><b>Capture Ratios<\/b><\/strong>: Upside &gt;100% means fund outperforms in rallies; downside &lt;100% means fund loses less in crashes.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: A fund with Sharpe &gt;1 and downside capture &lt;80% is considered strong.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide05' class='sa_hover_container' data-hash='Max-Drawdown' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.5 \u2013 Max Drawdown<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78074 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown.png\" alt=\"Max Drawdown\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Max drawdown tells you the worst fall a fund has experienced from peak to trough. Imagine a fund\u2019s NAV rising to \u20b9200, then dropping to \u20b9150 before recovering\u2014that\u2019s a 25% drawdown.<\/p>\r\n<p>Why does this matter? Because investors often panic during steep falls. A fund with lower drawdowns compared to peers shows better risk management. For example, during the COVID crash, some funds fell 35% while others limited losses to 20%. Knowing this helps you judge whether you could have held on emotionally.<\/p>\r\n<p><strong><b>Quick Reference: Max Drawdown<\/b><\/strong><\/p>\r\n<p>Max drawdown shows the worst peak to trough fall.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: .Drawdown = Trough NAV-Peak NAV\/Peak NAV<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: NAV \u20b9200 \u2192 \u20b9150 = \u221225% drawdown.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Lower drawdowns indicate better risk control. Helps investors judge emotional resilience during crashes.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide06' class='sa_hover_container' data-hash='Expense-Ratio' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.6 \u2013 Expense Ratio<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78075 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio.png\" alt=\"Expense Ratio\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Expense ratio is the silent cost deducted daily from your fund\u2019s NAV. Even a 1% difference compounds massively over decades.<\/p>\r\n<p>For instance, on \u20b910 lakh invested for 20 years at 12% gross returns, a 1% higher expense ratio could cost you about \u20b913 lakh in lost wealth. That\u2019s money you never see leaving, but it erodes your future.<\/p>\r\n<p>Always compare expense ratios within the category. Paying high fees for nearindex performance is a structural disadvantage.<\/p>\r\n<p><strong><b>Quick Reference: Expense Ratio<\/b><\/strong><\/p>\r\n<p>Expense ratio is deducted daily from NAV.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: .<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: On \u20b910 lakh at 12% gross CAGR for 20 years:<\/li>\r\n<\/ul>\r\n<ul>\r\n<li>At 1% expense ratio \u2192 about \u20b980.6 lakh final value.<\/li>\r\n<li>At 2% expense ratio \u2192 about \u20b967.3 lakh final value.<\/li>\r\n<\/ul>\r\n<p><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Even small differences compound massively. Always compare within category.<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide07' class='sa_hover_container' data-hash='Active-Share' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.7 \u2013 Active Share<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78076 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share.png\" alt=\"Active Share\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Active share measures how different a fund\u2019s portfolio is from its benchmark. A score above about 70\u201380% means the manager is genuinely making active decisions. A score below about 60% suggests the fund is hugging the index\u2014you\u2019re paying active fees for passive performance.<\/p>\r\n<p>For example, if a large-cap fund looks almost identical to the Nifty 50, why not just buy a cheaper index fund? On the other hand, a high active share fund may outperform\u2014or underperform\u2014depending on the manager\u2019s skill. It\u2019s not a guarantee, but it tells you whether you\u2019re paying for genuine active management.<\/p>\r\n<p>Active share measures deviation from benchmark holdings.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: =1\/2 \u2211 | W<sub>fund \u00a0<\/sub>-W<sub>benchmark <\/sub>|<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: Active share of 80% = highly active; 20% = index-hugging.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: High active share funds may deliver alpha but also carry higher manager risk.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p><strong><b>Key Takeaways<\/b><\/strong><\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Trailing returns <\/b><\/strong>show snapshots; <strong><b>rolling returns<\/b><\/strong>\u00a0show consistency.<\/li>\r\n<li><b><\/b><strong><b>Calendar rankings <\/b><\/strong>reveal competitiveness among peers.<\/li>\r\n<li><b><\/b><strong><b>Risk ratios <\/b><\/strong>highlight whether returns justify volatility.<\/li>\r\n<li><b><\/b><strong><b>Max drawdown <\/b><\/strong>shows worst case pain.<\/li>\r\n<li><b><\/b><strong><b>Expense ratio<\/b><\/strong>is a guaranteed cost\u2014keep it low.<\/li>\r\n<li><b><\/b><strong><b>Active share <\/b><\/strong>tells you if you\u2019re paying for real active management.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<\/div>\n<\/div>\n<script type='text\/javascript'>\n\tjQuery(document).ready(function() {\n\t\tjQuery('#text_slider').owlCarousel({\n\t\t\titems : 1,\n\t\t\tsmartSpeed : 400,\n\t\t\tautoplay : false,\n\t\t\tautoplayHoverPause : false,\n\t\t\tsmartSpeed : 400,\n\t\t\tfluidSpeed : 400,\n\t\t\tautoplaySpeed : 400,\n\t\t\tnavSpeed : 400,\n\t\t\tdotsSpeed : 400,\n\t\t\tdotsEach : 1,\n\t\t\tloop : false,\n\t\t\tnav : true,\n\t\t\tnavText : ['Previous','Next'],\n\t\t\tdots : true,\n\t\t\tresponsiveRefreshRate : 200,\n\t\t\tslideBy : 1,\n\t\t\tmergeFit : true,\n\t\t\tautoHeight : true,\n\t\t\tmouseDrag : false,\n\t\t\ttouchDrag : true\n\t\t});\n\t\tjQuery('#text_slider').css('visibility', 'visible');\n\t\tvar owl_goto = jQuery('#text_slider');\n\t\tjQuery('.text_slider_goto1').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 0);\n\t\t});\n\t\tjQuery('.text_slider_goto2').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 1);\n\t\t});\n\t\tjQuery('.text_slider_goto3').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 2);\n\t\t});\n\t\tjQuery('.text_slider_goto4').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 3);\n\t\t});\n\t\tjQuery('.text_slider_goto5').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 4);\n\t\t});\n\t\tjQuery('.text_slider_goto6').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 5);\n\t\t});\n\t\tjQuery('.text_slider_goto7').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 6);\n\t\t});\n\t\tvar resize_77924 = jQuery('.owl-carousel');\n\t\tresize_77924.on('initialized.owl.carousel', function(e) {\n\t\t\tif (typeof(Event) === 'function') {\n\t\t\t\twindow.dispatchEvent(new Event('resize'));\n\t\t\t} else {\n\t\t\t\tvar evt = window.document.createEvent('UIEvents');\n\t\t\t\tevt.initUIEvent('resize', true, false, window, 0);\n\t\t\t\twindow.dispatchEvent(evt);\n\t\t\t}\n\t\t});\n\t});\n<\/script>\n<\/p><p>\u00a0<\/p>                    <\/div>\n\t\t        \n                    <div id=\"slides-tab\" class=\"clearfix eael-tab-content-item \" data-title-link=\"slides-tab\">\n\t\t\t\t        <p><div class='white' style='background:rgb(255, 255, 255); border:solid 0px rgb(255, 255, 255); border-radius:0px; padding:0px 0px 0px 1px;'>\n<div id='text_slider' class='owl-carousel sa_owl_theme owl-pagination-true' data-slider-id='text_slider' style='visibility: visible;visibility:visible;'>\n<div id='text_slider_slide01' class='sa_hover_container' data-hash='Trailing-Returns' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.1 \u2013 Trailing Returns<\/b><\/strong><\/h2>\r\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-78070 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns.png\" alt=\"Trailing Returns\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Trailing-Returns-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Trailing returns are like snapshots of how a fund has performed over specific timeframes\u20141, 3, 5, and 7 years. Think of it as looking at your child\u2019s report card at different stages: one year shows short-term progress, three years smooths out temporary ups and downs, five years often covers a full cycle of boom and bust, and seven years reveals whether the fund can truly stand the test of time.<\/p>\r\n<p>For example, if a fund beats its benchmark consistently over five years, it shows resilience across market cycles. But if it only shines in one year, it may just be luck. Always compare against the <strong><b>Total Return Index<\/b><\/strong>\u00a0(TRI), which includes dividends, for a fairer picture.<\/p>\r\n<p>Trailing returns are calculated using point-to-point CAGR (Compounded Annual Growth Rate)\u00a0over fixed periods.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: CAGR =(Ending NAV\/Beginning NAV)<sup>1\/n <\/sup>\u00a0-1<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: If NAV grew from \u20b9100 to \u20b9180 in 5 years, CAGR = (180\/100)^(1\/5) \u2212 1 \u2248 12.47%.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Trailing returns are easy to understand but can be misleading if the chosen period coincides with unusual market conditions (e.g., post-COVID rebound).<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide02' class='sa_hover_container' data-hash='Rolling-Returns' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.2 \u2013 Rolling Returns<\/b><\/strong><\/h2>\r\n<p><img decoding=\"async\" class=\"aligncenter wp-image-78071 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1.png\" alt=\"Rolling Returns\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Rolling-Returns-1-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Trailing returns give one snapshot; rolling returns give the movie. Instead of checking one 3year period, rolling returns calculate performance for every possible 3year (or 5year) window in the fund\u2019s history.<\/p>\r\n<p>Imagine you invested in 2010, 2012, or 2015\u2014rolling returns show how the fund would have performed in each case. A fund that beats its benchmark in 90% of rolling periods is far more reliable than one that only edges past half the time.<\/p>\r\n<p>This measure highlights consistency, which is often more important than one off outperformance.<\/p>\r\n<p>Rolling returns smooth out biases by calculating CAGR across overlapping windows.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: For a 3-year rolling return, you calculate CAGR for Jan 2010\u2013Jan 2013, Feb 2010\u2013Feb 2013, and so on.<\/li>\r\n<li><b><\/b><strong><b>Data Point<\/b><\/strong>: A fund beating its benchmark in 85\u201390% of rolling periods is considered highly consistent.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Rolling returns reveal whether performance is repeatable or just a one off lucky streak.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide03' class='sa_hover_container' data-hash='Calendar-Year-Rankings' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.3 \u2013 Calendar Year Rankings<\/b><\/strong><\/h2>\r\n<p><img decoding=\"async\" class=\"aligncenter wp-image-78072 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking.png\" alt=\"Calendar Year Ranking\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Calendar-Year-Ranking-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Absolute returns can mislead. If the whole market rises 25%, even a mediocre fund looks good. Calendar year rankings compare a fund against peers in the same category.<\/p>\r\n<p>For example, if a fund ranks in the top 25% year after year, it signals strong management. But if it swings wildly\u2014top one year, bottom the next\u2014it suggests concentrated bets or inconsistent strategy. Consistent bottom quartile rankings are a red flag.<\/p>\r\n<p>This metric helps you see whether your fund is genuinely competitive among its peers.<\/p>\r\n<p><strong><b>Quick Reference: Calendar Year Rankings<\/b><\/strong><\/p>\r\n<p>Calendar year rankings compare funds within their peer group.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Quartile System<\/b><\/strong>: Top 25% = 1st quartile, bottom 25% = 4th quartile.<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: A mid-cap fund ranked in the top quartile for 7 out of 10 years shows strong management skill.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Rankings highlight relative competitiveness, not just absolute numbers.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide04' class='sa_hover_container' data-hash='Risk-Adjusted-Ratios' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.4 \u2013 Risk-Adjusted Ratios<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78073 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio.png\" alt=\"Risk Adjusted Ratio\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Risk-Adjusted-Ratio-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Returns alone don\u2019t tell the full story. Risk-adjusted ratios measure whether the returns are worth the volatility.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Standard Deviation<\/b><\/strong>\u2013 Lower means smoother performance.<\/li>\r\n<li><b><\/b><strong><b>Sharpe Ratio<\/b><\/strong>\u2013 Higher means better returns per unit of risk.<\/li>\r\n<li><b><\/b><strong><b>Sortino Ratio<\/b><\/strong>\u2013 Focuses only on downside risk, ignoring upside surprises.<\/li>\r\n<li><b><\/b><strong><b>Information Ratio<\/b><\/strong>\u2013 Shows consistency of beating the benchmark.<\/li>\r\n<li><b><\/b><strong><b>Upside Capture<\/b><\/strong>\u2013 How much of the market\u2019s gains the fund captures.<\/li>\r\n<li><b><\/b><strong><b>Downside Capture<\/b><\/strong>\u2013 How much of the market\u2019s losses the fund suffers.<\/li>\r\n<\/ul>\r\n<p>For example, a fund with high upside capture and low downside capture is ideal\u2014it grows faster in rallies and falls less in crashes.<\/p>\r\n<p><strong><b>Quick Reference: Risk-Adjusted Ratios<\/b><\/strong><\/p>\r\n<p>Risk-adjusted ratios balance return with volatility.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Standard Deviation<\/b><\/strong>: Measures volatility. Lower = smoother ride.<\/li>\r\n<li><b><\/b><strong><b>Sharpe Ratio<\/b><\/strong>: . Higher = better risk adjusted performance.<\/li>\r\n<li><b><\/b><strong><b>Sortino Ratio<\/b><\/strong>: Focuses only on downside volatility.<\/li>\r\n<li><b><\/b><strong><b>Information Ratio<\/b><\/strong>: Measures excess return consistency vs benchmark.<\/li>\r\n<li><b><\/b><strong><b>Capture Ratios<\/b><\/strong>: Upside &gt;100% means fund outperforms in rallies; downside &lt;100% means fund loses less in crashes.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: A fund with Sharpe &gt;1 and downside capture &lt;80% is considered strong.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide05' class='sa_hover_container' data-hash='Max-Drawdown' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.5 \u2013 Max Drawdown<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78074 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown.png\" alt=\"Max Drawdown\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Max-Drawdown-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Max drawdown tells you the worst fall a fund has experienced from peak to trough. Imagine a fund\u2019s NAV rising to \u20b9200, then dropping to \u20b9150 before recovering\u2014that\u2019s a 25% drawdown.<\/p>\r\n<p>Why does this matter? Because investors often panic during steep falls. A fund with lower drawdowns compared to peers shows better risk management. For example, during the COVID crash, some funds fell 35% while others limited losses to 20%. Knowing this helps you judge whether you could have held on emotionally.<\/p>\r\n<p><strong><b>Quick Reference: Max Drawdown<\/b><\/strong><\/p>\r\n<p>Max drawdown shows the worst peak to trough fall.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: .Drawdown = Trough NAV-Peak NAV\/Peak NAV<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: NAV \u20b9200 \u2192 \u20b9150 = \u221225% drawdown.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Lower drawdowns indicate better risk control. Helps investors judge emotional resilience during crashes.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide06' class='sa_hover_container' data-hash='Expense-Ratio' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.6 \u2013 Expense Ratio<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78075 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio.png\" alt=\"Expense Ratio\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Expense-Ratio-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Expense ratio is the silent cost deducted daily from your fund\u2019s NAV. Even a 1% difference compounds massively over decades.<\/p>\r\n<p>For instance, on \u20b910 lakh invested for 20 years at 12% gross returns, a 1% higher expense ratio could cost you about \u20b913 lakh in lost wealth. That\u2019s money you never see leaving, but it erodes your future.<\/p>\r\n<p>Always compare expense ratios within the category. Paying high fees for nearindex performance is a structural disadvantage.<\/p>\r\n<p><strong><b>Quick Reference: Expense Ratio<\/b><\/strong><\/p>\r\n<p>Expense ratio is deducted daily from NAV.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: .<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: On \u20b910 lakh at 12% gross CAGR for 20 years:<\/li>\r\n<\/ul>\r\n<ul>\r\n<li>At 1% expense ratio \u2192 about \u20b980.6 lakh final value.<\/li>\r\n<li>At 2% expense ratio \u2192 about \u20b967.3 lakh final value.<\/li>\r\n<\/ul>\r\n<p><b><\/b><strong><b>Investor Insight<\/b><\/strong>: Even small differences compound massively. Always compare within category.<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<div id='text_slider_slide07' class='sa_hover_container' data-hash='Active-Share' style='padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:405px; '><h2><strong><b>33.7 \u2013 Active Share<\/b><\/strong><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-78076 size-full\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share.png\" alt=\"Active Share\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share.png 1080w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-300x300.png 300w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-1024x1024.png 1024w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-150x150.png 150w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-768x768.png 768w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-50x50.png 50w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-100x100.png 100w, https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2026\/10\/Active-Share-96x96.png 96w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\r\n<p>Active share measures how different a fund\u2019s portfolio is from its benchmark. A score above about 70\u201380% means the manager is genuinely making active decisions. A score below about 60% suggests the fund is hugging the index\u2014you\u2019re paying active fees for passive performance.<\/p>\r\n<p>For example, if a large-cap fund looks almost identical to the Nifty 50, why not just buy a cheaper index fund? On the other hand, a high active share fund may outperform\u2014or underperform\u2014depending on the manager\u2019s skill. It\u2019s not a guarantee, but it tells you whether you\u2019re paying for genuine active management.<\/p>\r\n<p>Active share measures deviation from benchmark holdings.<\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Formula<\/b><\/strong>: =1\/2 \u2211 | W<sub>fund \u00a0<\/sub>-W<sub>benchmark <\/sub>|<\/li>\r\n<li><b><\/b><strong><b>Example<\/b><\/strong>: Active share of 80% = highly active; 20% = index-hugging.<\/li>\r\n<li><b><\/b><strong><b>Investor Insight<\/b><\/strong>: High active share funds may deliver alpha but also carry higher manager risk.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p><strong><b>Key Takeaways<\/b><\/strong><\/p>\r\n<ul>\r\n<li><b><\/b><strong><b>Trailing returns <\/b><\/strong>show snapshots; <strong><b>rolling returns<\/b><\/strong>\u00a0show consistency.<\/li>\r\n<li><b><\/b><strong><b>Calendar rankings <\/b><\/strong>reveal competitiveness among peers.<\/li>\r\n<li><b><\/b><strong><b>Risk ratios <\/b><\/strong>highlight whether returns justify volatility.<\/li>\r\n<li><b><\/b><strong><b>Max drawdown <\/b><\/strong>shows worst case pain.<\/li>\r\n<li><b><\/b><strong><b>Expense ratio<\/b><\/strong>is a guaranteed cost\u2014keep it low.<\/li>\r\n<li><b><\/b><strong><b>Active share <\/b><\/strong>tells you if you\u2019re paying for real active management.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p><\/div>\n<\/div>\n<\/div>\n<script type='text\/javascript'>\n\tjQuery(document).ready(function() {\n\t\tjQuery('#text_slider').owlCarousel({\n\t\t\titems : 1,\n\t\t\tsmartSpeed : 400,\n\t\t\tautoplay : false,\n\t\t\tautoplayHoverPause : false,\n\t\t\tsmartSpeed : 400,\n\t\t\tfluidSpeed : 400,\n\t\t\tautoplaySpeed : 400,\n\t\t\tnavSpeed : 400,\n\t\t\tdotsSpeed : 400,\n\t\t\tdotsEach : 1,\n\t\t\tloop : false,\n\t\t\tnav : true,\n\t\t\tnavText : ['Previous','Next'],\n\t\t\tdots : true,\n\t\t\tresponsiveRefreshRate : 200,\n\t\t\tslideBy : 1,\n\t\t\tmergeFit : true,\n\t\t\tautoHeight : true,\n\t\t\tmouseDrag : false,\n\t\t\ttouchDrag : true\n\t\t});\n\t\tjQuery('#text_slider').css('visibility', 'visible');\n\t\tvar owl_goto = jQuery('#text_slider');\n\t\tjQuery('.text_slider_goto1').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 0);\n\t\t});\n\t\tjQuery('.text_slider_goto2').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 1);\n\t\t});\n\t\tjQuery('.text_slider_goto3').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 2);\n\t\t});\n\t\tjQuery('.text_slider_goto4').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 3);\n\t\t});\n\t\tjQuery('.text_slider_goto5').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 4);\n\t\t});\n\t\tjQuery('.text_slider_goto6').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 5);\n\t\t});\n\t\tjQuery('.text_slider_goto7').click(function(event){\n\t\t\towl_goto.trigger('to.owl.carousel', 6);\n\t\t});\n\t\tvar resize_77924 = jQuery('.owl-carousel');\n\t\tresize_77924.on('initialized.owl.carousel', function(e) {\n\t\t\tif (typeof(Event) === 'function') {\n\t\t\t\twindow.dispatchEvent(new Event('resize'));\n\t\t\t} else {\n\t\t\t\tvar evt = window.document.createEvent('UIEvents');\n\t\t\t\tevt.initUIEvent('resize', true, false, window, 0);\n\t\t\t\twindow.dispatchEvent(evt);\n\t\t\t}\n\t\t});\n\t});\n<\/script>\n<\/p><p>\u00a0<\/p>                    <\/div>\n\t\t        \n                    <div id=\"videos-tab\" class=\"clearfix eael-tab-content-item \" data-title-link=\"videos-tab\">\n\t\t\t\t        <p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.5paisa.com\/finschool\/wp-content\/uploads\/2021\/10\/coming-soon-person-g8026473a8_1920-removebg-preview.png\" \/><\/p>                    <\/div>\n\t\t                    <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Study Slides Videos 33.1 \u2013 Trailing Returns Trailing returns are like snapshots of how a fund has performed over specific timeframes\u20141, 3, 5, and 7 years. Think of it as looking at your child\u2019s report card at different stages: one year shows short-term progress, three years smooths out temporary ups and downs, five years often &#8230; <a title=\"Know Your Funds\" class=\"read-more\" href=\"https:\/\/www.5paisa.com\/finschool\/course\/financial-planning-through-mutual-funds-course\/know-your-funds\/\" aria-label=\"Read more about Know Your Funds\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":11088,"menu_order":14,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"class_list":["post-78078","markets","type-markets","status-publish","format-standard","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/markets\/78078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/markets"}],"about":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/types\/markets"}],"author":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/comments?post=78078"}],"version-history":[{"count":7,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/markets\/78078\/revisions"}],"predecessor-version":[{"id":78199,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/markets\/78078\/revisions\/78199"}],"up":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/markets\/11088"}],"wp:attachment":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/media?parent=78078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/categories?post=78078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}