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This thesis is conducted to examine the internal and external return factors of stock return mutual funds fixed income mutual funds. Foreign ownership and family concentration are considered important to be studied more deeply, considering that in previous studies both factors were rarely considered as determinants of stock returns. The sample used is stock mutual funds and fixed income mutual funds listed on the Indonesia Stock Exchange and actively traded during the January 2013 to December 2017. The number of mutual funds that meet the research criteria are 76 stock mutual funds and 99 fixed income mutual funds. The form of data used in this study is panel data. The analytical tool used is regression with the EViews 9.0 statistical program. The result, the independent variable consisting of managed funds, volatility and sharpe ratio jointly influence the dependent variable (the performance of stock mutual funds). Partially, the managed funds do not affect the performance of mutual funds, but volatility and sharpe ratio significantly influence the performance of stock mutual funds. In fixed income mutual funds, independent variables consisting of managed funds, volatility and sharpe ratio jointly influence the dependent variable (the performance of fixed income mutual funds). Partially, managed funds, volatility and sharpe ratios significantly influence the performance of fixed income mutual funds.