When comparing mutual fund returns, focus on annualized returns over various time frames, considering 1, 3, 5 years, and since inception. Additionally, assess risk-adjusted returns using metrics like Sharpe ratio and Sortino ratio to account for volatility. Keep an eye on the expense ratio, aiming for lower costs. Examine historical performance and the fund manager's track record, considering consistency in returns and the fund's behavior across market cycles. Finally, analyze factors such as AUM, portfolio holdings, and dividend history to make an informed decision aligned with your investment goals and risk tolerance.