Independence Day 2026: 12 equity mutual funds deliver over 40% return. Are there any included in your portfolio?

Around 12 equity mutual funds have delivered over 40% return since the last independence day, an analysis of the performance showed. There were nearly 570 equity funds in the said time period including sectoral and thematic funds.

A further analysis of the data showed that the top 15 funds in the list were international funds indicating an outperformance over the domestic funds.

Nippon India Taiwan Equity Fund, the only fund delivering a three digit return, offered 140.91% return since the last independence day celebrated in 2025. DSP World Mining Overseas Equity Omni FoF delivered a return of 75.72% in the said time period.


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ICICI Pru Strategic Metal and Energy Equity FoF and Motilal Oswal Nasdaq 100 FOF delivered 68.68% and 60.46% returns respectively in the said time period. The next two funds were from Mirae Asset Mutual Fund.

Mirae Asset Global X Artificial Intelligence & Technology ETF FoF and Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FOF delivered 55.28% and 54.01% returns respectively in the said time period.

The next two funds were based on emerging markets themes. Edelweiss Emerging Markets Opp Eq. Offshore Fund and HSBC Global Emerging Markets Fund gave 53.94% and 51.85% returns respectively since the last independence day.

DSP Global Clean Energy Overseas Equity Omni FoF gave 48.36% returns since August 15, 2025. This was followed by Kotak Global Emerging Market Overseas Equity Omni FOF who posted a gain of 45.73% in the said time period.

The other two funds were - Franklin Asian Equity Fund and DSP US Specific Equity Omni FoF who posted a gain of 41.90% and 40.33% respectively in the said time period.

Other funds in list

Invesco India - Invesco Pan European Equity FoF posted a gain of 39.57% in the said time period. Edelweiss Greater China Equity Off-shore Fund delivered a return of 39% since the last independence day.

Axis Greater China Equity FoF posted a gain of 34.23% since last independence day. TRUSTMF Small Cap Fund topped the return chart, emerging as the first diversified equity fund on the list after sectoral, thematic and international funds. This small cap fund delivered a return of 31.98% since the last independence day.

HDFC Defence Fund, the only actively managed fund based on the defence sector, posted a gain of 30.36% since August 15, 2025. Mirae Asset NYSE FANG+ETF FoF delivered 29.63% since the last independence day.

Two funds from Kotak Mutual Fund - Kotak Manufacture in India Fund and Kotak Special Opportunities Fund - posted a gain of 22.13% and 22.12% respectively since the last independence day.

Helios Mid Cap Fund delivered a return of 16.51% in the said time period. Quant Small Cap Fund delivered a return of 15.12% in the said time period.

Two funds from Quant Mutual Fund - Quant Large & Mid Cap Fund and Quant Infrastructure Fund - posted a gain of 13.36% and 13.28% respectively since the last independence day. Bandhan Small Cap Fund offered a return of 13.11% in the said time period.

Two funds from Nippon India Mutual Fund - Nippon India Growth Mid Cap Fund and Nippon India Small Cap Fund posted a return of 12.13% and 12.11% since the last independence day. HDFC Mid Cap Fund, the largest mid cap fund based on the assets managed, posted a return of 11.88% since the last independence day.

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SBI Small Cap Fund delivered a return of 9.95% since the last independence day. Mirae Asset Focused Fund was the last one to deliver positive returns since the last independence day.

Negative performers

ICICI Pru FMCG Fund lost the most of around 11.68% since the last independence day. HDFC Technology Fund and Tata Digital India Fund lost 6.75% and 6.63% in the said time period. Mirae Asset Hang Seng TECH ETF FoF lost 4.58% in the said time period.

HDFC Consumption Fund delivered a negative return of 1.99% since the last independence day. Parag Parikh Flexi Cap Fund, the largest active fund and flexi cap fund based on the assets managed, posted a negative return of 1.09% since the last independence day.

PGIM India Large Cap Fund lost the lowest of around 0.14% since the last independence day.

We considered all equity and equity oriented funds including sectoral, thematic, and equity oriented hybrid funds. We considered regular and growth options. We calculated the performance between August 15, 2025 to August 13, 2026.

Note, the above exercise is not a recommendation. The exercise was done to find how equity mutual funds have performed since last independence day.

One should not make investment or redemption decisions based on the above exercise. One should always consider their risk appetite, investment horizon, and goals before making any investment decisions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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