Money market funds involve the lowest risk. These funds are short term instruments, generally government Treasury funds. As it offers low risk, the substantial return is also low.

As the name suggests, this kind of fund fundamentally invests in stocks. Additionally, equity funds are divided into various subcategories depending on the company size, investment style of holding the portfolio, and geography. 

An index fund is a combination of stocks and bonds designed to imitate the composition and performance of the financial market index.

A fixed-income fund is one of the most significant categories of funds. As its name implies, it provides returns at fixed intervals (monthly, quarterly, or yearly). However, the income depends on the individual rate, not on the fixed amount.

The balanced fund includes the components of stocks and bonds. The objective of the balanced fund is to minimize the risk of exposure across assets classes. 

As the name suggests, the income fund provides steady current income. Thereto primarily focus on current income, either monthly or quarterly, against capital gains or appreciation.

Specialty fund is more of every category as it invests in energy companies, financial sector, technology, health, etc.

As the name suggests, the international fund only invests in foreign assets. However, global funds can provide support worldwide, including in domestic countries.

It tracks the index, commodity, and other assets purchased and sold on a stock exchange, like a regular stock.