What it does
mfcheck shows how a mutual fund has done compared with an index fund from the same category, a Nifty 50 index fund, a gold fund and a bank FD. It is a statistical summary of public NAV data.
Quick check shows trailing returns over 1, 2, 3, 5, 7 and 10 years, and how often the fund's 3-year return was higher than the index fund's. The headline shows the period where the fund's return was furthest below its category index fund's when there is one, and otherwise the last 2 years; any period can be selected. My SIP and My lump sum show what the same money would be worth today in each option.
Data sources
Scheme details and daily NAVs published by AMFI, read through mfapi.in and AMFI's NAVAll file. Data is refreshed once a day after NAVs are published.
Index funds stand in for indices because they are investable and their NAVs include costs and dividends, like your fund's NAV.
Method
Only Growth options are supported; IDCW (dividend) options are excluded because payouts lower their NAV. Direct plans are compared with Direct plan index funds, and Regular with Regular.
SIP instalments buy units at the first NAV on or after the SIP date. Returns are CAGR for one-time investments held a year or more, absolute for shorter periods, and XIRR for SIPs. The bank FD compounds quarterly at the rate you choose.
When a category index fund's history is shorter than the period checked, the Nifty 50 index fund is used instead and the result says so.
Limitations
Stamp duty, exit load and taxes are not considered. Index funds have small costs and tracking differences compared with their index.
Hybrid, debt, sectoral and thematic funds, index funds, ETFs and fund-of-funds are not compared with a category index yet.
Past performance may or may not be sustained in future. mfcheck does not tell you what to do with any fund.
Who runs it
mfcheck is run by TechnoFunda, a SEBI Registered Research Analyst (Registration No. INH000012272).