Best Healthcare Funds to Invest in November 2026
Foliyo’s research compared 11 healthcare funds on returns, consistency, risk and cost. These 10 rank highest; 2 are Leaders.
- Healthcare funds reviewed
- 11
- Median 3-year return a year
- 20.0%
- Median expense ratio
- 1.04%
- Data as of
- 23 October 2026
Best 3 in November 2026
- 1
SBI Healthcare Opportunities Fund Leader21.8% 3Y a year - 2
HDFC Pharma and Healthcare Fund Leader28.0% 3Y a year - 3
Kotak Healthcare Fund Emerging— 3Y a year
Category median 20.0% a year over 3 years
The leaders are ahead on 3-year returns (SBI Healthcare 21.8% and HDFC Pharma 28.0%, against a median of 20.0%), while the laggards trail on both 1-year and 3-year numbers. Costs sit close to the 1.04% median for most funds, so they do not separate the group. These are single-sector funds with a 1-year median of just 8.5%, and 3 of the 6 funds covered here are under 3 years old.
Best healthcare funds in November 2026: the ranking of 10
Ranked by Foliyo’s research among 11 healthcare funds with at least ₹500 Cr. Returns are for the Direct Growth plan to 23 October 2026 (3 and 5-year returns a year; the bar shows the 3-year return); fund size as of 30 September 2026.
| # | Fund (Direct Growth) and Foliyo label | 1Y return | 3Y return | 5Y return | Expense ratio | Fund size |
|---|---|---|---|---|---|---|
| 1 | SBI Healthcare Opportunities Fund Leader | 8.4% | 21.8% | 17.4% | 1.01% | ₹5,870 Cr |
| 2 | HDFC Pharma and Healthcare Fund Leader | 15.9% | 28.0% | — | 1.03% | ₹3,501 Cr |
| 3 | Kotak Healthcare Fund Emerging | 14.7% | — | — | 1.04% | ₹825 Cr |
| 4 |  WhiteOak Capital Pharma and Healthcare Fund Emerging | 11.0% | — | — | 1.09% | ₹927 Cr |
| 5 |  DSP Healthcare Fund Strong | 9.1% | 19.7% | 15.2% | 0.75% | ₹3,750 Cr |
| 6 |  Mirae Asset Healthcare Fund Strong | 10.0% | 21.1% | 15.0% | 0.62% | ₹3,494 Cr |
| 7 |  UTI Healthcare Fund Strong | 7.0% | 21.1% | 14.8% | 1.34% | ₹1,430 Cr |
| 8 |  ICICI Prudential Healthcare Fund Steady | −0.8% | 20.0% | 15.2% | 1.32% | ₹6,861 Cr |
| 9 |  Aditya Birla Sun Life Pharma & Healthcare Fund Laggard | 8.0% | 19.1% | 13.4% | 1.07% | ₹1,078 Cr |
| 10 |  Nippon India Pharma Fund Laggard | 2.6% | 16.4% | 12.9% | 1.00% | ₹9,166 Cr |
Category median: 20.0% a year over 3 years, 8.4% over 1 year, expense ratio 1.04%. # is the fund’s rank among all 11 in the review; funds too young or with too little data to rank are left out. A “—” means the fund is too young for that period.
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The 10 funds, one by one
SBI Healthcare Opportunities Fund Direct Growth
Rank 1 of 11, managed by Tanmaya Desai (lead since Jun 2011), Very High risk
Leader Best-evidenced fund in the category: ahead of peers over rolling 3-year periods with lower downside capture; the main risk is sector concentration.
Pros
- Its 3-year return is 21.8% against a peer median of 20.0%, and its 5-year return is 17.4% against 14.9%.
- Its downside capture is 84, its alpha is 3.0 and its 3-year Sharpe ratio is 1.07 against a peer median of 0.90.
Cons
- Its 1-year return is 8.4%, in line with the peer median of 8.5%, and its 3-month return is -5.0%.
- The portfolio PE is 49.1 and the fund holds only healthcare, so a sector setback would hit it fully.
- 1-year return
- 8.4% level median 8.4%
- 3-year return (a year)
- 21.8% +1.8 pts median 20.0%
- 5-year return (a year)
- 17.4% +2.5 pts median 14.9%
- Sharpe ratio (3Y)
- 1.07 +0.17 median 0.90
- Volatility (3Y)
- 14.8% −1.1 pts median 15.9%
- Worst fall (3Y)
- −12.2% +2.8 pts median −15.0%
- Downside capture (3Y)
- 84 −6 median 90
- Expense ratio
- 1.01% −0.03 pts median 1.04%
- Cash
- 4.5% median 2.1%
- Fund size
- ₹5,870 Cr median ₹3,494 Cr
HDFC Pharma and Healthcare Fund Direct Growth
Rank 2 of 11, managed by Nikhil Mathur (lead since Oct 2023), Very High risk
Leader Promising leader at just over 3 years old, ahead of peers in every rolling 1-year period; risk ratios are not yet in the facts.
Pros
- Its 3-year return is 28.0% against a peer median of 20.0%, and its 1-year return is 15.9% against 8.5%.
- It was ahead of the peer median in 100.0% of rolling 1-year periods, and its worst 1-year return is 2.0%.
- Its expense ratio is 1.03% against a peer median of 1.04%, on a fund size of ₹3501 Cr.
Cons
- At 3.1 years it has seen one stretch of the market, and no 3-year Sharpe, drawdown or downside capture figures are given.
- The portfolio PE is 43.7 and the fund is single-sector.
- 1-year return
- 15.9% +7.4 pts median 8.4%
- 3-year return (a year)
- 28.0% +7.9 pts median 20.0%
- Expense ratio
- 1.03% −0.01 pts median 1.04%
- Cash
- 3.2% median 2.1%
- Fund size
- ₹3,501 Cr median ₹3,494 Cr
Kotak Healthcare Fund Direct Growth
Rank 3 of 11, managed by Abhishek Bisen (lead since Dec 2023), Very High risk
Emerging Promising first 2.9 years with good 1-year risk-adjusted numbers, but too early to call and not consistently ahead of peers.
Pros
- Its 1-year return is 14.7% against a peer median of 8.5%.
- Its 1-year Sharpe ratio is 1.40 and its 1-year downside capture is 74.
- Its expense ratio is 1.04%, equal to the peer median.
Cons
- It was ahead of the peer median in only 37.8% of rolling 1-year periods, and its worst 1-year return is -5.6%.
- It has no 3-year track record yet, and its risk figures cover one year only.
- 1-year return
- 14.7% +6.2 pts median 8.4%
- Expense ratio
- 1.04% level median 1.04%
- Cash
- 1.3% median 2.1%
- Fund size
- ₹825 Cr median ₹3,494 Cr
WhiteOak Capital Pharma and Healthcare Fund Direct Growth
Rank 4 of 11, managed by Ramesh Mantri (lead since Feb 2024), Very High risk
Emerging Promising first 2.7 years with steady 1-year results, but too early to judge and priced slightly above the peer median.
Pros
- Its 1-year return is 11.0% against a peer median of 8.5%.
- It was ahead of the peer median in 100.0% of rolling 1-year periods, and its worst 1-year return is 0.6%.
- Its 1-year Sharpe ratio is 1.13, with volatility of 15.5% and a maximum drawdown of -7.9%.
Cons
- Its expense ratio is 1.09% against a peer median of 1.04%.
- It has no 3-year record, and its risk figures cover one year only.
- 1-year return
- 11.0% +2.5 pts median 8.4%
- Expense ratio
- 1.09% +0.05 pts median 1.04%
- Cash
- 1.1% median 2.1%
- Fund size
- ₹927 Cr median ₹3,494 Cr
DSP Healthcare Fund Direct Growth
Rank 5 of 11, managed by Chirag Dagli (lead since Dec 2020), Very High risk
Strong A strong fund: ranks 5 of 11 in Sector - Healthcare.
Pros
- Expense ratio 0.75% vs peer median 1.04%
- 5-year return (a year) 15.2% vs peer median 14.9%
Cons
- Ahead of the peer median in 19.4% of rolling 1-year periods (weekly, last 3 years)
- 1-year return
- 9.1% +0.7 pts median 8.4%
- 3-year return (a year)
- 19.7% −0.4 pts median 20.0%
- 5-year return (a year)
- 15.2% +0.3 pts median 14.9%
- Sharpe ratio (3Y)
- 0.93 +0.03 median 0.90
- Volatility (3Y)
- 15.2% −0.7 pts median 15.9%
- Worst fall (3Y)
- −13.1% +1.9 pts median −15.0%
- Downside capture (3Y)
- 78 −11 median 90
- Expense ratio
- 0.75% −0.29 pts median 1.04%
- Cash
- 6.7% median 2.1%
- Fund size
- ₹3,750 Cr median ₹3,494 Cr
Mirae Asset Healthcare Fund Direct Growth
Rank 6 of 11, managed by Vrijesh Kasera (lead since Jul 2018), Very High risk
Strong A strong fund: ranks 6 of 11 in Sector - Healthcare.
Pros
- Expense ratio 0.62% vs peer median 1.04%
Cons
- Volatility (3Y) 16.4% vs peer median 15.9%
- 1-year return
- 10.0% +1.6 pts median 8.4%
- 3-year return (a year)
- 21.1% +1.0 pts median 20.0%
- 5-year return (a year)
- 15.0% +0.1 pts median 14.9%
- Sharpe ratio (3Y)
- 0.91 +0.01 median 0.90
- Volatility (3Y)
- 16.4% +0.5 pts median 15.9%
- Worst fall (3Y)
- −15.1% −0.1 pts median −15.0%
- Downside capture (3Y)
- 90 level median 90
- Expense ratio
- 0.62% −0.42 pts median 1.04%
- Cash
- 0.0% median 2.1%
- Fund size
- ₹3,494 Cr median ₹3,494 Cr
UTI Healthcare Fund Direct Growth
Rank 7 of 11, managed by Kamal Gada (lead since May 2022), Very High risk
Strong A strong fund: ranks 7 of 11 in Sector - Healthcare.
Pros
- Sharpe ratio (3Y) 0.97 vs peer median 0.90
Cons
- Expense ratio 1.34% vs peer median 1.04%
- 1-year return
- 7.0% −1.5 pts median 8.4%
- 3-year return (a year)
- 21.1% +1.1 pts median 20.0%
- 5-year return (a year)
- 14.8% −0.1 pts median 14.9%
- Sharpe ratio (3Y)
- 0.97 +0.07 median 0.90
- Volatility (3Y)
- 16.2% +0.3 pts median 15.9%
- Worst fall (3Y)
- −15.2% −0.2 pts median −15.0%
- Downside capture (3Y)
- 88 −2 median 90
- Expense ratio
- 1.34% +0.30 pts median 1.04%
- Cash
- 5.9% median 2.1%
- Fund size
- ₹1,430 Cr median ₹3,494 Cr
ICICI Prudential Healthcare Fund Direct Growth
Rank 8 of 11, managed by Dharmesh Kakkad (lead since May 2020), Very High risk
Steady Middle of the pack: ranks 8 of 11 in Sector - Healthcare.
Pros
- Ahead of the peer median in 95.5% of rolling 3-year periods (weekly, last 3 years)
- 5-year return (a year) 15.2% vs peer median 14.9%
- Ahead of the peer median in 77.1% of rolling 1-year periods (weekly, last 3 years)
Cons
- Expense ratio 1.32% vs peer median 1.04%
- Downside capture (3Y) 95 vs peer median 90
- 1-year return
- −0.8% −9.3 pts median 8.4%
- 3-year return (a year)
- 20.0% level median 20.0%
- 5-year return (a year)
- 15.2% +0.3 pts median 14.9%
- Sharpe ratio (3Y)
- 0.89 −0.01 median 0.90
- Volatility (3Y)
- 16.4% +0.5 pts median 15.9%
- Worst fall (3Y)
- −15.6% −0.6 pts median −15.0%
- Downside capture (3Y)
- 95 +5 median 90
- Expense ratio
- 1.32% +0.28 pts median 1.04%
- Cash
- 1.1% median 2.1%
- Fund size
- ₹6,861 Cr median ₹3,494 Cr
Aditya Birla Sun Life Pharma & Healthcare Fund Direct Growth
Rank 9 of 11, managed by Dhaval Shah (lead since Jul 2019), Very High risk
Laggard Lagging its peers: ranks 9 of 11 in Sector - Healthcare.
Pros
None noted.
Cons
- 3-year return (a year) 19.1% vs peer median 20.0%
- Ahead of the peer median in 1.6% of rolling 3-year periods (weekly, last 3 years)
- 1-year return
- 8.0% −0.5 pts median 8.4%
- 3-year return (a year)
- 19.1% −1.0 pts median 20.0%
- 5-year return (a year)
- 13.4% −1.5 pts median 14.9%
- Sharpe ratio (3Y)
- 0.87 −0.03 median 0.90
- Volatility (3Y)
- 15.6% −0.3 pts median 15.9%
- Worst fall (3Y)
- −14.9% +0.1 pts median −15.0%
- Downside capture (3Y)
- 89 level median 90
- Expense ratio
- 1.07% +0.03 pts median 1.04%
- Cash
- 2.1% median 2.1%
- Fund size
- ₹1,078 Cr median ₹3,494 Cr
Nippon India Pharma Fund Direct Growth
Rank 10 of 11, managed by Sailesh Raj Bhan (lead since Apr 2005), Very High risk
Laggard Behind peers on 3-year and 5-year returns and in most rolling periods, despite a long-serving manager; the weakness looks more than one bad year.
Pros
- Its 3-year return is 16.4% against a peer median of 20.0%, and its 5-year return is 12.9% against 14.9%.
- It was ahead of the peer median in 11.8% of rolling 3-year periods and 21.0% of rolling 1-year periods.
- Its 3-year Sharpe ratio is 0.76 against a peer median of 0.90, though its downside capture is 92 and volatility 15.1% against a median of 15.9%.
Cons
- Its 1-year return is 2.6% against a peer median of 8.5%, and its maximum drawdown is -14.2%.
- 1-year return
- 2.6% −5.8 pts median 8.4%
- 3-year return (a year)
- 16.4% −3.7 pts median 20.0%
- 5-year return (a year)
- 12.9% −2.0 pts median 14.9%
- Sharpe ratio (3Y)
- 0.76 −0.15 median 0.90
- Volatility (3Y)
- 15.1% −0.8 pts median 15.9%
- Worst fall (3Y)
- −14.2% +0.8 pts median −15.0%
- Downside capture (3Y)
- 92 +2 median 90
- Expense ratio
- 1.00% −0.04 pts median 1.04%
- Cash
- 2.7% median 2.1%
- Fund size
- ₹9,166 Cr median ₹3,494 Cr
What is a healthcare fund?
A healthcare (pharma) fund keeps at least 80% of its money in pharmaceutical, hospital, diagnostics and other healthcare companies. It moves with one sector’s cycle, export prices and drug approvals, so it fits as a small satellite holding beside a core one.
Read more: Sector and thematic funds: when to use them.
How Foliyo’s research ranks funds
Every month Foliyo’s Research Desk reviews each Indian mutual fund with at least ₹500 Cr under management (1,035 funds in the review of 23 October 2026), through its Direct Growth plan, and ranks it against the other funds in its category. No fund house pays us, and we earn no commission, so the ranking has no reason to favour anyone. For equity funds the ranking weighs:
- Performance (35%): 3, 5 and 1-year returns, and where the fund stands among all funds in its category over 3 and 5 years.
- Consistency (25%): how often the fund was ahead of its peers over rolling 1 and 3-year periods, and in how many calendar years it finished in the top half.
- Risk (25%): return per unit of risk (Sharpe and Sortino ratios), how much of the market’s falls it took (downside capture), its worst fall and its volatility.
- Cost (10%) and stability (5%): the expense ratio, and how long the lead manager has run the fund.
Where a fund stands sets its label: Leader (the strongest in the category), Strong, Steady and Laggard (behind most of its peers). A fund under 3 years old is never judged on a full record: its first year is compared with every peer’s last year (1-year return 25%, steadiness against peers 15%, Sharpe ratio 15%, worst fall 10%, downside capture 10%, cost 15%), and it is labelled Emerging when that start is among the strongest, or Too early otherwise. Red flags are set by rule, never by opinion: a new lead manager, a portfolio that strays from the category’s mandate, high cash, high cost or a concentrated portfolio.
Frequently asked questions
Which are the best healthcare funds to invest in November 2026?
On Foliyo’s research (data to 23 October 2026), the five highest-ranked healthcare funds are SBI Healthcare Opportunities Fund (Leader), HDFC Pharma and Healthcare Fund (Leader), Kotak Healthcare Fund (Emerging), WhiteOak Capital Pharma and Healthcare Fund (Emerging), DSP Healthcare Fund (Strong). The full list of 10, with each fund’s pros and cons, is on this page. Which one suits you depends on your goals and the funds you already own.
What is a healthcare fund?
A healthcare (pharma) fund keeps at least 80% of its money in pharmaceutical, hospital, diagnostics and other healthcare companies. It moves with one sector’s cycle, export prices and drug approvals, so it fits as a small satellite holding beside a core one.
How does Foliyo rank healthcare funds?
Each healthcare fund with at least ₹500 Cr is compared with the others on performance (3, 5 and 1-year returns), consistency (rolling returns and calendar years), risk (Sharpe and Sortino ratios, downside capture, worst fall, volatility), cost (expense ratio) and the lead manager’s tenure. The strongest are Leaders, then Strong, Steady and Laggard; funds under 3 years old are Emerging (a strong first year) or Too early.
What return have healthcare funds given?
The median healthcare fund in our review returned 20.0% a year over 3 years and 14.9% a year over 5 years, and 8.4% over the last year, to 23 October 2026 (Direct plans). The top-ranked fund, SBI Healthcare Opportunities Fund, returned 21.8% a year over 3 years.
What is the expense ratio of healthcare funds?
The median Direct plan in the category charges 1.04% a year. Regular plans cost more, often 0.6 to 1.2 points a year more, because the fee includes the distributor’s commission. See what that gap costs over time.
Is the top-ranked healthcare fund the best one for me?
Not necessarily. The ranking says how funds have done against each other, not how they will do, and the right fund depends on your goals, horizon and the funds you already hold. A fee-only adviser can check your whole portfolio: talk to a Foliyo adviser.
Why hire a Foliyo Advisor?
- Unbiased
- No commissions, ever
- SEBI-registered RIA
- Best-in-class research