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Equity vs hybrid long-short SIFs: How have 20 funds performed since launch?

rajeev kumar
By Rajeev Kumar

6 min read | Updated on July 23, 2026, 14:46 IST

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SUMMARY

Most equity and hybrid long-short SIFs have been launched in 2026. Consequently, there is insufficient long-term data to make meaningful comparisons among these SIFs.

equity vs hybrid long-short SIF

Here's how equity and hybrid SIFs have performed till July 22, 2026.

Ever since the capital markets regulator, SEBI, allowed mutual fund asset managers to launch Specialised Investment Funds (SIFs) with a minimum investment cap of ₹10 lakh, almost every AMC has seized the opportunity to launch SIF schemes. Some have even launched multiple SIFs across different categories
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As of July 23, 2026, AMCs offer around 30 SIF schemes across the following categories:

Equity long-short: These schemes generally maintain a broad equity exposure, often up to 80% or more, while using derivatives to short up to 25% of the portfolio to manage downside risk.
Hybrid long-short: These schemes aim to balance risk across equities and debt by maintaining minimum exposure to both asset classes while using derivatives to take short positions in either asset classes.
Ex-top 100 long-short: These schemes focus on stocks outside the top 100 by market capitalisation while using derivatives to manage downside risks.
Sector rotation long-short: These schemes seek to tactically shift long and short positions across sectors based on emerging sector-specific trends.
Active asset allocator long-short: These schemes aim to dynamically rebalance portfolio exposure across multiple asset classes, including equities, debt, commodities and REITs, depending on changing macroeconomic conditions.

This article highlights how 20 equity and hybrid long-short SIFs have performed since their respective launch dates.

Equity Long-Short SIF: Performance till July 22, 2026

The following table shows the assets under management (AUM), returns since launch and six-month rankings of nine equity long-short funds:

SchemeAUM (₹ cr)Launch dateReturn since launch (%)6-month rank3-month return (%)6-month return (%)1-year return (%)3-year return (%)
Arthaya Equity Long-Short Fund117May 25, 2026-0.15-----
Arudha Equity Long-Short Fund91March 24, 20264.70-2.23---
Diviniti Equity Long-Short Fund334Dec. 1, 2025-6.2135/35-2.17-5.69--
DynaSIF Equity Long-Short Fund276Feb. 25, 20266.33-2.63---
iSIF Equity Long-Short Fund274June 5, 20263.50-----
Qsif Equity Long-Short Fund592Oct. 7, 202510.851/3510.6414.64--
Sapphire Equity Long-Short Fund999April 29, 2026-0.13-----
Summit Equity Long-Short Fund-July 23, 2026------
Titanium Equity Long-Short Fund208May 14, 20263.26-----
Source: ACE MF; AUM till June 30, 2026, performance till July 22, 2026

Hybrid Long-Short SIF: Performance till July 22, 2026

The following table shows the assets under management (AUM), returns since launch and six-month rankings of 11 hybrid long-short funds:

SchemeAUM (₹ cr)Launch dateReturn since launch (%)Rank3-month return (%)6-month return (%)1-year return (%)3-year return (%)
Altiva Hybrid Long-Short Fund5,545Oct. 20, 20259.342/615.3812.64--
Apex Hybrid Long-Short Fund80March 25, 20263.80-11.94---
Arudha Hybrid Long-Short Fund109Jan. 28, 20263.40-7.51---
Infinity Hybrid Long-Short Fund-July 6, 20261.34-----
iSIF Hybrid Long-Short Fund927Feb. 4, 20262.90-7.22---
Magnum Hybrid Long-Short Fund3,647Oct. 23, 20254.874/611.406.44--
Platinum Hybrid Long-Short Fund-June 10, 20261.05-----
Prism Hybrid Long-Short Fund--------
Qsif Hybrid Long-Short Fund158Oct. 15, 20257.461/612.1918.28--
RedHex Hybrid Long-Short Fund581June 19, 20260.84-----
Titanium Hybrid Long-Short Fund549Dec. 11, 20252.105/67.935.69--
Source: ACE MF; AUM till June 30, 2026, performance till July 22, 2026

Key observations

As of July 22, 2026, hybrid long-short SIFs have delivered better returns over three- and six-month periods than equity long-short SIFs. However, this is a short-term trend. Long-term returns across different market cycles will provide a more meaningful basis for comparison.

Sapphire Equity Long-Short Fund of Franklin Templeton Asset Management is the largest equity long-short SIF in terms of AUM. The scheme's AUM was approx. ₹999 crore as of June 30, 2026, followed by Qsif Equity Long Short Fund of Quant Money Managers, with an AUM of ₹592 crore.

Altiva Hybrid Long-Short Fund of Edelweiss Asset Management is the largest equity hybrid long-short SIF in terms of AUM. The scheme's AUM was approx. ₹5545 crore till June 30, 2026, followed by Magnum Hybrid Long-Short Fund of SBI Funds Management, with an AUM of ₹3647 crore.

Altiva Hybrid Long-Short Fund has generated the highest returns since launch, delivering 9.34% as of July 22, 2026. Over a six-month period, the scheme ranked sixth among its peers with a return of 12.64%.

QSIF Hybrid Long-Short Fund has delivered the highest six-month return of 18.28%, ranking first among its peers over this duration. However, its return since launch is only 7.46%.

Qsif Equity Long-Short Fund is the top-performing equity long-short SIF since launch, with a return of 10.85%. It also ranks first over the six-month period, with a return of 14.64%.

The largest equity long-short fund by AUM is yet to complete 3 months.

Most equity and hybrid long-short SIFs have been launched in 2026. Consequently, there is insufficient long-term data to make meaningful comparisons among these SIFs. Investors should consider investing in these schemes only after conducting thorough due diligence, preferably consulting a financial advisor. More so because these schemes have an entry threshold of ₹10 lakh.

Disclaimer: The information contained in this article is for informational purposes only and does not represent investment advice from Upstox. Investment decisions should be made based on independent research or consultation with a registered financial advisor. Past performance is not indicative of future results.

About The Author

rajeev kumar
Rajeev Kumar is a Deputy Editor at Upstox, and covers personal finance stories. In over 11 years as a journalist, he has written over 2,000 articles on topics like income tax, mutual funds, credit cards, insurance, investing, savings, and pension. He has previously worked with organisations like 1% Club, The Financial Express, Zee Business and Hindustan Times.

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