Information ratio
Active return over the benchmark per unit of tracking error.
Formula
IR = (annualised R_fund − annualised R_benchmark) ÷ tracking error
How MFIC calculates it
36 month-end returns against the benchmark proxy.
How to read it
It measures how consistently a scheme delivered its excess return: a high IR means the outperformance came steadily rather than from a few large bets.
Limitations
Noisy over short windows; sign follows the excess return.
Information ratio by category today
Spread of information ratio across Regular-plan schemes in each category, calculated by MFIC from AMFI NAVs as of 1 Oct 2026. The middle half of schemes falls between the 25th and 75th percentiles.
Use it in MFIC
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Related: Tracking error · Alpha (Jensen's alpha) · Tracking difference and excess return · Methodology
Disclosure. Educational content. Figures are historical calculations from AMFI NAV data and may differ from other sources because of methodology. Past performance does not guarantee future results. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155); this page is not investment advice. Questions? Book a consultation.