Dear Friend,
If returns are the only indicator, you find atleast 5-10% of the funds which give a similar returns. I will try and answer your queries, but give a a brief summary of the basis of the comparison. When you invest in a fund, the same is done with an objective. Your objective is the reason for investment, the amount of diversification across classes and type of instrument. Hence, you would decide pick a MF from equity or liquid fund family, choose between Large Cap oriented vs Large & Mid Cap oriented vs Mid & Small cap vs Multicap oriented funds. Each one of them comes with a rider on the amount of risk vs returns that can be expected.
A key aspect of comparison is also to rely on relative rankings and typically Moneycontrol and Value Research Online are used as good indicators, especially the latter one. For simplicity, I will use HDFC Equity as a reference. HDFC Equity is a Multicap oriented fund and has been around from 1994 and has been a consistent performer for a long time. Now, coming to your funds,
Quantim Long Term Equity - Multicap fund rated at 5 stars as compared to 4 stars from HDFC Equity. However, the fact that HDFC Equity has been around for a long time scores over QLTE. Another aspect is the returns returned by each of them. Though both of them have very similar numbers in the same ballpark, there is a little extra profit provided by HDFC Equity.
ING Dividend Yield is a Mid & Small Cap fund and shouldn't be compared to HDFC Equity as it won't be an apples to apples comparison. Mid & Small Cap funds have a high risk and can have severe swings on both sides of profitability. Another aspect is that there are some better funds in this category like ICICI Pru discovery which can be considered for investment.
Canara Robeco Fortune 94 and Canara Robeco Expo - I couldn't locate these funds either on VROL or Moneycontrol and not even on the AMC website. In only one place, I found that Fortune 94 was last updated in 2008 and presume the same is closed now, which is similar with Expo. Interestingly, both of them have closed around the same time 23 April 2008 and have to assume that AMC discontinued these schemes.
I hope I have clarified your queries. This forum has some very useful information provided by a lot of our friends which can provide good pointers/ starting points for your investments.
Happy Investing !!
