PEDAM SRAVANTHI , MR. GUMMADI RAMANRAJU 03 08 This report examines the performance metrics of mutual funds and Unit Linked Insurance Plans ULIPs offered by ICICI Prudential Bajaj Finserv Aditya Birla Sun Life and Bajaj Allianz The analysis includes average returns variance risk and Sharpe performance ratios for each fund providing insights into their potential for investment Suggestions based on the findings emphasize diversification risk management fee considerations regular monitoring and the possibility of seeking professional advice While ICICI Prudential demonstrates the highest average returns its negative Sharpe ratio indicates inefficient riskadjusted returns Aditya Birla Sun Life ULIP presents relatively higher returns but carries significant risk while Bajaj Allianz ULIP offers lower risk but with lower returns The conclusion underscores the importance of a comprehensive evaluation of performance risk costs and alignment with investment objectives when selecting funds It recommends a diversified approach tailored to individual risk tolerance and financial goals with periodic reviews and adjustments to optimize returns and manage risk effectively Copyright (c) Journal of Science Engineering Technology and Management Science. All rights reserved 2026