Hybrid funds...

...invest in a mix of equity and debt. While equity allocation helps get capital appreciation, debt allocation provides capital protection.

Aggressive Hybrid Funds

They invest 65-80 per cent of their assets in equity and the rest in debt instruments.

Conservative Hybrid Funds

These funds invest around 75-90 per cent of their assets in debt securities and the rest in equity. Hence, they are more secure than aggressive funds.

Balanced advantage or dynamic asset allocation funds

These funds dynamically shift their allocation between equity and debt based on the market movement.