Personal Finance News
Mutual funds in 2025: Large-cap, large & mid, small-cap and ELSS index beaters in 1 year
9 min read | Updated on December 09, 2025, 17:54 IST
SUMMARY
Mutual fund performance in a year: Among all active large-cap, large & mid-cap, small-cap and ELSS schemes, not a single scheme has delivered double-digit return in a year. The 1-year return in the small-cap category is particularly worse as nearly every active small-cap equity scheme has delivered negative returns
The past year has not been very good for equity mutual fund investors in terms of returns. While several active equity schemes failed to outperform their underlying indices, many even delivered negative returns to investors, according to data on the website of the Association of Mutual Funds in India (AMFI) as of December 8, 2025.
As the year 2025 draws to a close, we take a look at large-cap, large & mid-cap, small-cap and ELSS mutual fund schemes that have outperformed their respective indices over the one-year period ending December 8, 2025:
Before reading further, please note that this exercise is for informational purposes only. Only direct plans of the schemes have been considered in the following lists. The returns of regular plans are lower than those of their direct counterparts, as per AMFI data.
Investors should also note that one year is too short a period to judge mutual fund schemes, as they are meant for long-term investments. However, investors should keep an eye on schemes that consistently underperform over a longer period, as such schemes could derail their future financial plans.
Large Cap Funds that outperformed indices in 1 year
| Scheme Name | Benchmark | Return 1 Year (%) Direct | Return 1 Year (%) Benchmark | Information Ratio* 1 Year (Direct) | Daily AUM (Cr.) |
|---|---|---|---|---|---|
| Aditya Birla Sun Life Large Cap Fund | Nifty 100 TRI | 4.9 | 4.13 | 0.32 | 31120.85 |
| DSP Large Cap Fund | BSE 100 TRI | 5.45 | 4.74 | 0.15 | 7181.6 |
| Edelweiss Large Cap Fund | Nifty 100 TRI | 4.31 | 4.13 | 0.04 | 1429.21 |
| Franklin India Large Cap Fund | Nifty 100 TRI | 4.39 | 4.13 | 0.07 | 7995.63 |
| ICICI Prudential Large Cap Fund | Nifty 100 TRI | 7.2 | 4.13 | 1.21 | 77769.7 |
| Kotak Large Cap Fund | Nifty 100 TRI | 4.71 | 4.13 | 0.29 | 10960.16 |
| Mahindra Manulife Large Cap Fund | Nifty 100 TRI | 4.95 | 4.13 | 0.3 | 743.49 |
| Mirae Asset Large Cap Fund | Nifty 100 TRI | 5.36 | 4.13 | 0.7 | 41424.84 |
| Motilal Oswal Large Cap Fund | Nifty 100 TRI | 7.65 | 4.13 | 1.07 | 2992.8 |
| Nippon India Large Cap Fund | BSE 100 TRI | 4.71 | 4.74 | -0.03 | 49960.23 |
| PGIM India Large Cap Fund | Nifty 100 TRI | 5.1 | 4.13 | 0.33 | 596.99 |
| SBI Large Cap Fund | BSE 100 TRI | 5.2 | 4.74 | 0.13 | 55243.26 |
| Tata Large Cap Fund | Nifty 100 TRI | 4.34 | 4.13 | 0.07 | 2797.79 |
| UTI Large Cap Fund | BSE 100 TRI | 4.79 | 4.74 | -0.03 | 13250.78 |
Large & Mid Cap Funds that outperformed indices in 1 year
| Scheme Name | Benchmark | Return 1 Year (%) Direct | Return 1 Year (%) Benchmark | Information Ratio* 1 Year (Direct) | Daily AUM (Cr.) |
|---|---|---|---|---|---|
| Bandhan Large & Mid Cap Fund | Nifty LargeMidcap 250 TRI | 4.11 | 2.84 | 0.41 | 12728.15 |
| Franklin India Large & Mid Cap Fund | Nifty LargeMidcap 250 TRI | 3.31 | 2.84 | 0.09 | 3645.72 |
| Helios Large & Mid Cap Fund | Nifty LargeMidcap 250 TRI | 5.16 | 2.84 | 0.52 | 626.52 |
| ICICI Prudential Large & Mid Cap Fund | Nifty LargeMidcap 250 TRI | 8.94 | 2.84 | 1.2 | 26713.52 |
| Invesco India Large & Mid Cap Fund | Nifty LargeMidcap 250 TRI | 3.24 | 2.84 | 0.12 | 9114.2 |
| Mirae Asset Large & Midcap Fund | Nifty LargeMidcap 250 TRI | 3.88 | 2.84 | 0.44 | 42967.62 |
| SBI Large & Midcap Fund | Nifty LargeMidcap 250 TRI | 5.44 | 2.84 | 0.6 | 36530.45 |
| WhiteOak Capital Large & Mid Cap Fund | BSE 250 Large MidCap TRI | 4.59 | 3.18 | 0.41 | 2018.89 |
ELSS Funds that outperformed indices in 1 year
| Scheme Name | Benchmark | Return 1 Year (%) Direct | Return 1 Year (%) Benchmark | Information Ratio* 1 Year (Direct) | Daily AUM (Cr.) |
|---|---|---|---|---|---|
| Aditya Birla Sun Life ELSS Tax Saver Fund | Nifty 500 TRI | 5.33 | 1.93 | 1.15 | 15461.28 |
| Bandhan ELSS Tax saver Fund | BSE 500 TRI | 3.64 | 1.76 | 0.56 | 7244.04 |
| DSP ELSS Tax Saver Fund | Nifty 500 TRI | 2.89 | 1.93 | 0.3 | 17392.52 |
| Edelweiss ELSS Tax saver Fund | Nifty 500 TRI | 2.77 | 1.93 | 0.39 | 440.86 |
| HDFC ELSS Tax saver | Nifty 500 TRI | 6.95 | 1.93 | 1.03 | 17112.33 |
| ICICI Prudential ELSS Tax Saver Fund | Nifty 500 TRI | 5.37 | 1.93 | 0.85 | 14730.36 |
| Mahindra Manulife ELSS Tax Saver Fund | Nifty 500 TRI | 4.58 | 1.93 | 0.86 | 970.58 |
| Mirae Asset ELSS Tax Saver Fund | Nifty 500 TRI | 4.34 | 1.93 | 1.08 | 26864.68 |
| Parag Parikh ELSS Tax Saver Fund | Nifty 500 TRI | 4.48 | 1.93 | 0.36 | 5855.11 |
| Sundaram ELSS Tax Saver Fund | Nifty 500 TRI | 3.48 | 1.93 | 0.41 | 1389.7 |
Small Cap Funds that outperformed indices in 1 year
| Scheme Name | Benchmark | Return 1 Year (%) Direct | Return 1 Year (%) Benchmark | Information Ratio* 1 Year (Direct) | Daily AUM (Cr.) |
|---|---|---|---|---|---|
| Aditya Birla Sun Life Small cap Fund | BSE 250 Smallcap TRI | -7.16 | -10.76 | 0.88 | 4844.11 |
| Axis Small Cap Fund | Nifty Smallcap 250 TRI | -4.77 | -11.49 | 1.21 | 26470.69 |
| Bandhan Small Cap Fund | BSE 250 Smallcap TRI | -4.84 | -10.76 | 1.56 | 17871.61 |
| Baroda BNP Paribas Small Cap Fund | Nifty Smallcap 250 TRI | -9.02 | -11.49 | 0.38 | 1194.51 |
| Canara Robeco Small Cap Fund | Nifty Smallcap 250 TRI | -9.26 | -11.49 | 0.45 | 12728.57 |
| DSP Small Cap Fund | BSE 250 Smallcap TRI | -5.47 | -10.76 | 1.02 | 16506.95 |
| Edelweiss Small Cap Fund | Nifty Smallcap 250 TRI | -6.85 | -11.49 | 0.91 | 5202.92 |
| Franklin India Small Cap Fund | Nifty Smallcap 250 TRI | -11.18 | -11.49 | -0.04 | 13021.91 |
| HDFC Small Cap Fund | BSE 250 Smallcap TRI | -4.6 | -10.76 | 1.17 | 36986.46 |
| ICICI Prudential Smallcap Fund | Nifty Smallcap 250 TRI | -4.27 | -11.49 | 0.97 | 8331.72 |
| ITI Small Cap Fund | Nifty Smallcap 250 TRI | -7.57 | -11.49 | 1.07 | 2704.12 |
| Invesco India Smallcap Fund | BSE 250 Smallcap TRI | -4.54 | -10.76 | 1.27 | 8806.75 |
| JM Small Cap Fund | Nifty Smallcap 250 TRI | -11.04 | -11.49 | 0.14 | 721.28 |
| Mahindra Manulife Small Cap Fund | BSE 250 Smallcap TRI | -7.81 | -10.76 | 0.77 | 4091.05 |
| Motilal Oswal Small Cap Fund | Nifty Smallcap 250 TRI | -6.2 | -11.49 | 0.84 | 5647.63 |
| Nippon India Small Cap Fund | Nifty Smallcap 250 TRI | -9.35 | -11.49 | 0.48 | 66419.27 |
| PGIM India Small Cap Fund | Nifty Smallcap 250 TRI | -3.29 | -11.49 | 1.41 | 1542.06 |
| Quant Small Cap Fund | Nifty Smallcap 250 TRI | -8.58 | -11.49 | 0.47 | 29732.8 |
| Quantum Small Cap Fund | BSE 250 Smallcap TRI | -0.16 | -10.76 | 1.45 | 168.64 |
| SBI Small Cap Fund | BSE 250 Smallcap TRI | -8.44 | -10.76 | 0.24 | 35465.69 |
| Sundaram Small Cap Fund | Nifty Smallcap 250 TRI | -3.52 | -11.49 | 1.55 | 3343.46 |
| TRUSTMF Small Cap Fund | Nifty Smallcap 250 TRI | 0.28 | -11.49 | 1.98 | 1212.79 |
| UTI Small Cap Fund | Nifty Smallcap 250 TRI | -7.32 | -11.49 | 0.96 | 4661.82 |
| Union Small Cap Fund | BSE 250 Smallcap TRI | -8.4 | -10.76 | 0.48 | 1690.25 |
Key observations
Among all active large-cap, large & mid-cap, small-cap and ELSS schemes, not a single scheme has delivered double-digit return in a year.
The underlying indices of above schemes have also had unimpressive returns in a year.
The 1-year return in the small-cap category is particularly worse as nearly every active small-cap equity scheme has delivered negative returns. Their underlying indices have also delivered negative returns. Yet, some schemes have delivered less negative returns than the negative returns delivered by their underlying indices.
The top-performing small-cap fund in a year has delivered just 0.28% returns till December 8. All other active small-cap schemes have given negative returns.
Related News
By signing up you agree to Upstox’s Terms & Conditions
About The Author
Next Story
