Main Article Content
This paper is an attempt to inquire the relationship between mutual fund returns and historical measures of systematic and unsystematic risk over the ten years’ time period from January 2016 to December 2021 in context of Indian financial market. Systematic risk is represented by beta and unsystematic risk measured by residual risk. A small variation of Fama and MacBeth methodology is used to show the relationship between historical systematic and unsystematic risk and present return of selected mutual funds. Empirical result found that significant relation exists among historical risk and current return.