New Delhi, March 4 -- When evaluating mutual funds, most investors focus on returns, but there's more to a scheme than just performance numbers.

A closer look at key quantitative measures can reveal how a fund is managed, the level of risk it takes, and its consistency across market cycles. What are these measures and what do they say about the scheme?

The portfolio turnover ratio is the percentage of investments a fund manager replaces in a mutual fund scheme over a year.

A low turnover ratio might indicate that the fund manager follows a 'buy and hold' strategy and invests for the long-term.

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A high turnover ratio may not necessarily be a bad thin...