the list of top-performing mutual funds over the past decade is dominated by small-cap and mid-cap schemes . only seven diversified equity funds crossed 20% annualised sip returns in the last 10 years. none were large-cap funds .
a ₹1 lakh lump sum investment in the top-performing fund multiplied by 6.5 times over the decade . a ₹10,000 monthly sip in the same fund grew to roughly ₹38.8 lakh .
the numbers are impressive. but they come with caveats.
top performers. lump sum investments
nippon india small cap fund delivered the highest 10-year cagr at 20.61% on lump sum investments . a ₹1 lakh investment in this fund grew to ₹6.51 lakh. the fund is the largest in its category with aum of ₹72,673 crore .
quant small cap fund followed at 19.90%, turning ₹1 lakh into ₹6.14 lakh. quant elss tax saver fund and quant flexi cap fund delivered 18.97% and 18.69% respectively .
invrsco india midcap fund delivered 18.35%, followed by axis small cap fund at 18.22% .
top performers. sip investments
the numbers shift when sip returns are measured.
edelweiss mid cap fund topped the list with a 10-year sip return of 21.72% . a ₹10,000 monthly sip grew to roughly ₹37.97 lakh.
icici prudential infrastructure fund followed at 21.44%, with a ₹10,000 sip growing to ₹37.35 lakh. nippon india growth mid cap fund delivered 21.16% .
for diversified equity funds (excluding sectoral and thematic), nippon india small cap fund led at 22.21% . invesco india mid cap fund followed at 21.97%, and edelweiss mid cap fund at 21.52% .
category leaders
small-cap. nippon india small cap fund topped with 21.92% lump sum cagr . quant small cap and nippon india small cap both delivered over 24% on sip investments .
mid-cap. edelweiss mid cap fund delivered 19.98% lump sum cagr . it also delivered 23.4% sip return in the 10-year period . invesco india midcap fund at 21.74% sip return and nippon india growth mid cap fund at 20.66% rounded out the category leaders .
flexi-cap. quant flexi cap fund delivered 20.77% lump sum return . parag parikh flexi cap fund, india’s largest active fund with aum of ₹1.43 lakh crore, delivered a 10-year cagr of 16.67% .
large & mid-cap. invesco india large & mid cap fund topped the category with a 10-year sip return of 19.02%, growing a ₹10,000 monthly sip to ₹32.64 lakh . quant large & mid cap fund, bandhan large & mid cap fund, and icici prudential large & mid cap fund also crossed the ₹30 lakh mark .
large-cap. nippon india large cap fund delivered a 10-year cagr of 15.21% .
what the data does not show
past performance does not guarantee future returns. mid-cap and small-cap funds have been the biggest wealth creators over the last decade. they have also been among the most volatile categories .
leadership changes across market cycles. invesco india mid cap fund is the only scheme to feature among the top performers across three, five, and ten-year horizons . several funds that excelled in recent years do not rank among the decade’s best performers .
quant mid cap fund, the fourth-best performer over 10 years with 20.24% sip return, generated just 5.73% over the last three years . a 10-year track record does not guarantee near-term performance.
frequently asked questions
1. which mutual fund gave the highest return in 10 years ?
nippon india small cap fund delivered the highest 10-year cagr at 20.61% for lump sum investments and 22.21% for sip investments .
2. which category dominated the top performers list ?
small-cap and mid-cap funds dominated the list. of the seven diversified equity funds that crossed 20% sip returns, four were mid-cap and three were small-cap .
3. did any large-cap fund make the top list ?
no. the top performers were from small-cap and mid-cap categories. nippon india large cap fund delivered a 10-year cagr of 15.21% .
4. is a 10-year track record enough to choose a fund ?
a 10-year track record provides useful data. but leadership changes across market cycles. consistency across three, five, and ten years matters more than a single number .
5. what is the minimum sip amount for these funds ?
most funds accept sips starting from ₹500. edelweiss mid cap fund accepts ₹100 for lump sum, while nippon india small cap fund accepts ₹500 for sip .
