Quick answer
Which mutual fund is best in Pakistan?
There is no single best fund — it depends on your goal, horizon and risk. First-time investors usually start with a low-cost money-market fund: minimal volatility, yields that track the policy rate, withdraw any time. Below, screen 60 significant Pakistani funds and ETFs by returns, fees and Shariah compliance using MUFAP data.
Screen 60 of Pakistan's most significant open-end funds and PSX ETFs — returns, fees, risk and halal status. Free, no login, no paywall.
MUFAP data snapshot · 2026-07-05
| Fund | Category | Risk | Load | |||||
|---|---|---|---|---|---|---|---|---|
MCB Pakistan Stock Market Fund MCB Funds | Equity | High | +51.3% | +70.6% | 4.47% | 3.5% | Rs 1,000 | |
NIT Pakistan Gateway ETF NIT | Index/ETF · ETF | High | +46.5% | +65.7% | 1.70% | — | Rs 36 | |
NBP Pakistan Growth ETF NBP Funds | Index/ETF · ETF | High | +46.1% | +61.9% | 1.55% | — | Rs 29 | |
NBP Stock Fund NBP Funds | Equity | High | +43.0% | +65.1% | 4.14% | 3.4% | Rs 10,000 | |
NBP Sarmaya Izafa Fund NBP Funds | Balanced | Medium | +42.7% | +57.8% | 3.80% | 3.5% | Rs 10,000 | |
Alfalah GHP Stock Fund Alfalah AM | Equity | High | +40.8% | +64.3% | 4.35% | 2.9% | Rs 500 | |
ABL Stock Fund ABL Funds | Equity | High | +40.4% | +61.7% | 4.09% | 2.3% | Rs 500 | |
AKD Index Tracker Fund AKD | Index/ETF | High | +39.9% | +57.6% | 1.17% | 0.8% | Rs 5,000 | |
Atlas Stock Market Fund Atlas Funds | Equity | High | +39.4% | +62.7% | 3.93% | — | Rs 5,000 | |
Meezan Pakistan ETF Al Meezan | Index/ETF · ETF | High | +39.4% | +50.5% | 0.37% | — | Rs 19 | |
NBP Islamic Stock Fund NBP Funds | Equity | High | +37.1% | +57.9% | 4.76% | 3.5% | Rs 10,000 | |
UBL Stock Advantage Fund UBL Funds | Equity | High | +37.0% | +63.2% | ~4.30% | 2.9% | Rs 500 | |
KSE Meezan Index Fund Al Meezan | Index/ETF | High | +36.6% | +49.7% | 1.30% | 2.5% | Rs 5,000 | |
Al Ameen Shariah Stock Fund UBL Funds | Equity | High | +36.0% | +57.3% | ~4.30% | 2.9% | Rs 500 | |
NBP Balanced Fund NBP Funds | Balanced | Medium | +36.0% | +46.2% | 3.33% | 3.4% | Rs 10,000 | |
HBL Stock Fund HBL AMC | Equity | High | +34.5% | +46.9% | 4.50% | 2.3% | Rs 5,000 | |
Alhamra Islamic Stock Fund MCB Funds | Equity | High | +33.8% | +58.4% | 4.19% | 3.4% | Rs 1,000 | |
Mahaana Islamic Index ETF Mahaana | Index/ETF · ETF | High | +33.5% | — | 1.15% | — | Rs 18 | |
Meezan Islamic Fund Al Meezan | Equity | High | +33.4% | +54.6% | ~4.20% | 2.3% | Rs 5,000 | |
JS Large Cap Fund JS Investments | Equity | High | +32.7% | +56.4% | 4.75% | 3.5% | Rs 500 | |
HBL Islamic Equity Fund HBL AMC | Equity | High | +32.4% | +47.0% | 4.30% | 2.3% | Rs 5,000 | |
Unit Trust of Pakistan JS Investments | Balanced | Medium | +30.6% | +44.1% | 3.44% | 3.5% | Rs 500 | |
Faysal Islamic Stock Fund Faysal Funds | Equity | High | +30.4% | +47.4% | 6.89% | 3.5% | Rs 5,000 | |
Atlas Islamic Stock Fund Atlas Funds | Equity | High | +30.2% | +55.0% | 3.93% | — | Rs 5,000 | |
NIT Islamic Equity Fund NIT | Equity | High | +30.2% | +48.0% | 3.50% | — | Rs 5,000 | |
Al Meezan Mutual Fund Al Meezan | Equity | High | +29.4% | +53.0% | 4.16% | 2.3% | Rs 5,000 | |
ABL Islamic Stock Fund ABL Funds | Equity | High | +27.6% | +49.7% | 4.43% | 2.3% | Rs 500 | |
Meezan Asset Allocation Fund Al Meezan | Balanced | Medium | +25.5% | +47.4% | ~3.90% | 3.4% | Rs 5,000 | |
Meezan Gold Fund Al Meezan | Gold | Medium | +22.1% | +22.5% | 2.81% | 3.3% | Rs 5,000 | |
Meezan Balanced Fund Al Meezan | Balanced | Medium | +20.8% | +33.2% | 3.53% | 2.3% | Rs 5,000 | |
National Investment Unit Trust NIT | Equity | High | +17.8% | +49.7% | 2.99% | 3.0% | Rs 5,000 | |
Pakistan Income Fund MCB Funds | Income | Low | +17.5% p.a. | +22.4% p.a. | 1.91% | 2.3% | Rs 1,000 | |
NBP Mahana Amdani Fund NBP Funds | Income | Low | +10.8% p.a. | +18.5% p.a. | 0.99% | 1.1% | Rs 10,000 | |
Atlas Money Market Fund Atlas Funds | Money Mkt | Very Low | +10.7% p.a. | +18.6% p.a. | 0.22% | — | Rs 5,000 | |
NIT Money Market Fund NIT | Money Mkt | Very Low | +10.7% p.a. | +18.8% p.a. | 0.75% | — | Rs 5,000 | |
NBP Islamic Daily Dividend Fund NBP Funds | Money Mkt | Very Low | +10.6% p.a. | +17.8% p.a. | 1.03% | 1.2% | Rs 10,000 | |
HBL Islamic Money Market Fund HBL AMC | Money Mkt | Very Low | +10.5% p.a. | +17.7% p.a. | 1.00% | 1.1% | Rs 5,000 | |
ABL Cash Fund ABL Funds | Money Mkt | Very Low | +10.4% p.a. | +18.4% p.a. | 0.98% | 0.9% | Rs 500 | |
Atlas Income Fund Atlas Funds | Income | Low | +10.3% p.a. | +18.9% p.a. | 0.13% | — | Rs 5,000 | |
HBL Islamic Income Fund HBL AMC | Income | Low | +10.3% p.a. | +17.4% p.a. | 1.75% | 2.3% | Rs 5,000 | |
MCB Cash Management Optimizer MCB Funds | Money Mkt | Very Low | +10.3% p.a. | +18.2% p.a. | 1.07% | — | Rs 1,000 | |
Alfalah GHP Money Market Fund Alfalah AM | Money Mkt | Very Low | +10.3% p.a. | +18.2% p.a. | 1.07% | 2.3% | Rs 500 | |
NBP Money Market Fund NBP Funds | Money Mkt | Very Low | +10.2% p.a. | +18.2% p.a. | 0.98% | 1.2% | Rs 10,000 | |
UBL Cash Fund UBL Funds | Money Mkt | Very Low | +10.2% p.a. | +18.0% p.a. | 0.25% | — | Rs 500 | |
UBL Government Securities Fund UBL Funds | Income | Low | +10.2% p.a. | +19.7% p.a. | ~1.80% | 1.2% | Rs 500 | |
Mahaana Islamic Cash Fund Mahaana | Money Mkt | Very Low | +10.2% p.a. | +18.3% p.a. | 0.67% | — | Rs 1,000 | |
HBL Cash Fund HBL AMC | Money Mkt | Very Low | +10.2% p.a. | +17.5% p.a. | 1.08% | 1.2% | Rs 5,000 | |
Al Ameen Islamic Cash Fund UBL Funds | Money Mkt | Very Low | +9.9% p.a. | +17.2% p.a. | ~0.70% | — | Rs 500 | |
Alfalah GHP Income Fund Alfalah AM | Income | Low | +9.8% p.a. | +19.1% p.a. | 1.95% | 2.3% | Rs 500 | |
Meezan Cash Fund Al Meezan | Money Mkt | Very Low | +9.6% p.a. | +16.8% p.a. | 1.29% | — | Rs 5,000 | |
HBL Income Fund HBL AMC | Income | Low | +9.6% p.a. | +18.0% p.a. | 1.60% | 1.7% | Rs 5,000 | |
Meezan Rozana Amdani Fund Al Meezan | Money Mkt | Very Low | +9.5% p.a. | +17.0% p.a. | 1.42% | — | Rs 5,000 | |
NBP Islamic Mahana Amdani Fund NBP Funds | Income | Low | +9.4% p.a. | +16.8% p.a. | 1.42% | 1.1% | Rs 10,000 | |
Alfalah Islamic Rozana Amdani Fund Alfalah AM | Money Mkt | Very Low | +9.4% p.a. | +12.0% p.a. | 0.50% | 2.3% | Rs 500 | |
Faysal Halal Amdani Fund Faysal Funds | Money Mkt | Very Low | +9.3% p.a. | +16.8% p.a. | 1.59% | 2.3% | Rs 5,000 | |
Al Ameen Islamic Income Fund UBL Funds | Income | Low | +9.1% p.a. | +17.3% p.a. | 0.08% | 1.7% | Rs 500 | |
Meezan Islamic Income Fund Al Meezan | Income | Low | +9.0% p.a. | +16.1% p.a. | 1.93% | 1.1% | Rs 5,000 | |
Alhamra Islamic Income Fund MCB Funds | Income | Low | +8.9% p.a. | +17.2% p.a. | 1.76% | 1.7% | Rs 1,000 | |
Meezan Sovereign Fund Al Meezan | Income | Low | +8.4% p.a. | +15.9% p.a. | 1.93% | 1.1% | Rs 5,000 | |
UBL Pakistan Enterprise ETF UBL Funds | Index/ETF · ETF | High | +2.2% | +53.4% | 5.96% | — | Rs 31 |
* Money-market and income funds report annualized yields (marked “p.a.”); equity, index, balanced and gold funds report absolute returns. 3Y figures are annualized. “~” marks estimated figures. Loads shown are the MUFAP offer-vs-NAV spread — direct/online investing often waives them.
A beginner's usual path: park cash in a money-market fund first, then add equity exposure only for money you can leave untouched for 5+ years.
Formula. Pure filter-and-sort over a typed universe of Pakistani mutual funds: no scoring model, no ranking secret sauce. The rupee-fee column converts each fund's TER into what it costs per year on your amount.
annual fee ≈ TER% × invested amount (e.g. 1.5% on Rs 100k = Rs 1,500/yr)
Assumes. trailing returns are as published by MUFAP (net of fees, before your taxes) · live NAVs merge onto the seed universe; seed values fill any parser gaps
Limits. Not every registered fund is listed; minimum investments and loads are indicative from AMC websites.
Educational estimate — not financial, tax or investment advice. Read the fund's offering document and latest Fund Manager Report, and talk to a licensed advisor before investing.
It depends on the job you need done. For parking cash or a first investment, money-market funds are the standard answer; for long horizons, equity and index funds have historically returned more with much bigger swings. Within any category, prefer a lower expense ratio (TER) and no front-end load — this screener ranks all of that.
A money-market fund from a large asset manager is the classic first fund: it holds short-term government paper and bank placements, so the unit price barely moves, yields track the policy rate, and redemptions settle quickly. The screener's 'My first fund' preset filters to exactly these.
Yes — roughly half of the funds in this screener are Shariah-compliant, spanning Islamic money-market, income, equity and gold categories. The 'Halal starter' preset shows beginner-friendly compliant options. Each fund's compliance status comes from its own offering documents as listed by MUFAP.
Two numbers matter: the total expense ratio (TER), deducted silently from returns every year, and the front-end load, charged when you buy. The screener shows both — loads are derived from MUFAP's offer-versus-NAV spread, what buyers actually pay — so you can filter for low-cost, no-load funds.
Open an account directly with the fund's asset management company — most now onboard digitally with modest minimum investments — or, for the PSX-listed ETFs in this screener, buy units through any stock broker. Compare minimum investments in the table; AMCs frequently lower them for app-based investors.