In this paper we evaluate the performance of mutual funds that are already active in the country. Evaluation has been done using conventional criteria and data envelopment analysis (DEA). Considering the inputs and outputs of the DEA method, it has been found that it is more suitable than traditional methods for performance evaluation of the fund. Inputs consist of risk factors, such as standard deviation, beta and market square half - variance and costs of issuance and cancellation of investment units. Outputs include Downside and the best time. Based on the results of the DEA method and 29 funds eight full performance are investigated. Inefficiency is in other inputs, respectively, in units of unit investment factors such as percentage of export price index, half - variance, standard deviation and market beta. The inefficiency in output due to the low ratio of the rate of return is higher. To achieve efficiency, the fund should seek to reduce the cost of inputs, particularly of investment units.