Actually, the best SIP is in a fund that manages to have superior returns INDEXED to the volatility. The simple statistical ratio for describing the same is one which is called the SHARPE RATIO. So, it would be best if you see the Sharpe ratio of schemes and choose the ones which are the highest.
You can find the same out very easily from
- Please ensure there are at least two schemes that cover different segments of the markets i.e. large caps and midcaps, and
- Choose only equity schemes.