# Beat Rate

The share of rolling periods where a fund beat its benchmark.

Source data: AMFI daily NAV (17,900+ schemes) + Nifty benchmark indices. Last updated: 2026-07-02. Interactive tool: https://mfpro.tigzig.com

## What is Beat Rate?



Beat Rate tells you how often a fund outperformed its benchmark over rolling periods.
 If a fund has a 1Y Beat Rate of 75%, it means that in 75% of all possible 1-year holding
 periods, the fund delivered a higher return than Nifty 50. It answers a simple question:
 "If I picked a random 1-year window, what are the odds this fund beat the market?"

 


## How We Compute It



For every trading day, we compute the rolling return for the fund AND the benchmark
 over the same window (e.g., 1 year). Then we count how often the fund's rolling return
 was higher than the benchmark's.

 
 Beat Rate = (Number of days where fund rolling return > benchmark rolling return)
 / (Total paired observations) x 100
 

The rolling return for both fund and benchmark uses the same window and the same
 CAGR/absolute return formula. For windows > 1 year, both are annualized to CAGR.
 For shorter windows (3M, 6M), both are simple percentage returns.

 


## SQL (simplified)



WITH rolling AS (
 -- Fund rolling returns (ASOF JOIN for lookback)
 SELECT a.scheme_code, a.date,
 (POWER(a.nav/b.nav, 365.0/(a.date-b.date))-1)*100 AS ret
 FROM nav_master a
 ASOF JOIN nav_master b
 ON a.scheme_code = b.scheme_code
 AND b.date 0 AND b.nav > 0
),
bench_rolling AS (
 -- Benchmark rolling returns (same window)
 SELECT ba.date,
 (POWER(ba.nav/bb.nav, 365.0/(ba.date-bb.date))-1)*100 AS ret
 FROM index_nav ba
 ASOF JOIN index_nav bb
 ON bb.index_name = ba.index_name
 AND bb.date br.ret) * 100.0
 / NULLIF(COUNT(*) FILTER (WHERE br.ret IS NOT NULL), 0)
 AS beat_rate
FROM rolling r
LEFT JOIN bench_rolling br ON r.date = br.date
GROUP BY scheme_code 
 


## Worked Example


 
 Imagine Fund ABC and Nifty 50 with 1-year rolling returns computed on 10 trading days:


| Date | Fund ABC 1Y Return | Nifty 50 1Y Return | Fund Beats? |
| --- | --- | --- | --- |
| 2025-01-02 | 18.5% | 14.2% | Yes |
| 2025-01-03 | 17.8% | 15.0% | Yes |
| 2025-01-06 | 16.2% | 16.5% | No |
| 2025-01-07 | 15.9% | 16.1% | No |
| 2025-01-08 | 19.3% | 13.8% | Yes |
| 2025-01-09 | 20.1% | 12.5% | Yes |
| 2025-01-10 | 11.4% | 14.9% | No |
| 2025-01-13 | 22.0% | 15.5% | Yes |
| 2025-01-14 | 14.7% | 16.0% | No |
| 2025-01-15 | 18.9% | 13.1% | Yes |



Fund beats the benchmark in 6 out of 10 observations.

 Beat Rate = 6 / 10 x 100 = **60.0%**

In practice, a full-history 1Y rolling beat rate is computed over 2,000+ observations,
 not 10. The example above is simplified to show the counting logic.

 


## How to Interpret





- **Beat Rate > 70%:** The fund consistently outperforms the benchmark over this window. Strong outperformance.

- **Beat Rate 50-70%:** The fund beats the market more often than not, but not overwhelmingly.

- **Beat Rate < 50%:** The fund underperforms the benchmark more often than it beats it. Consider an index fund instead.


 


## Important Notes





- **Window matters:** A fund might have a high 1Y beat rate but a lower 3Y beat rate
 (or vice versa). This happens when a fund does well in short bursts but mean-reverts over longer periods.

- **Beat rate vs magnitude:** A fund with 90% beat rate where it wins by 0.1% each
 time is less interesting than one with 60% beat rate where it wins by 5% on average. Beat rate
 tells you consistency, not magnitude. Use it alongside Avg Return and Alpha.

- **Benchmark:** Defaults to Nifty 50 but can be changed via the Benchmark dropdown. The beat rate uses the same
 rolling window as the one selected in the Rolling Returns view.

## Related metrics

More Returns methodology from the MFPRO analytics tool:

- [CAGR (Compound Annual Growth Rate)](/mfpro/cagr-returns)

- [Rolling Returns](/mfpro/rolling-returns)

- [Standard Deviation (Volatility)](/mfpro/standard-deviation)

- [Maximum Drawdown](/mfpro/maximum-drawdown)

- [Calmar Ratio](/mfpro/calmar-ratio)

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Source: https://www.tigzig.com/mfpro/beat-rate