Official benchmark (TRI)
The index each scheme is measured against, in its total-return form.
What it is
Every scheme names a benchmark in its documents — for example the Nifty 500 TRI for many flexi cap funds. The total return index (TRI) version adds back dividends paid by the index companies, so it is the fair yardstick for a fund whose NAV also benefits from dividends.
How MFIC shows it
AMFI publishes, for every scheme, the official benchmark, the benchmark TRI's 1, 3, 5 and 10-year returns and the scheme's own returns for each plan. MFIC shows these side by side on each scheme's Overview and Performance tabs, and uses the difference (“excess return vs official benchmark”) in the screener and comparisons. For rolling and risk statistics, which need daily index values, MFIC still uses an index-fund NAV as a proxy and says so.
How to read it
A positive difference means the scheme's plan returned more than its benchmark TRI over that period, after its expenses. Compare like with like: the same period, the same plan, and schemes with the same benchmark.
Limitations
One period's difference depends heavily on the start and end dates; rolling and category-consistency measures give a fuller picture.
Official benchmark (TRI) by category today
Spread of official benchmark (tri) across Regular-plan schemes in each category, calculated by MFIC from AMFI NAVs as of 2 Oct 2026. The middle half of schemes falls between the 25th and 75th percentiles.
| Category (Regular plans) | Schemes | 25th percentile | Median | 75th percentile |
|---|---|---|---|---|
| Large Cap | 32 | -0.7% | 0.1% | 1.1% |
| Large & Mid Cap | 26 | -0.4% | 0.3% | 2.2% |
| Flexi Cap | 36 | -0.9% | 0.4% | 4.0% |
| Multi Cap | 22 | -0.2% | 1.5% | 3.7% |
| Mid Cap | 29 | -1.1% | 0.6% | 2.4% |
| Small Cap | 24 | -2.3% | 0.0% | 3.6% |
| ELSS | 37 | -2.0% | 0.0% | 1.1% |
| Focused | 27 | -1.4% | 0.4% | 3.4% |
| Value | 20 | -0.9% | 0.7% | 3.1% |
| Aggressive Hybrid | 30 | -0.4% | 0.8% | 2.4% |
| Balanced Advantage | 28 | 0.4% | 1.3% | 2.1% |
| Index Fund | 95 | -1.3% | -1.1% | -0.9% |
Use it in MFIC
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Related: Tracking difference and excess return · Rolling returns · Category consistency · Methodology