9 equity mutual funds offer less than 8% SIP returns in three years

Most mutual fund investors are celebrating the handsome returns offered by their equity funds. For example, many mid cap and small cap investors have made over 25% in this year. Even most flexi cap schemes offered more than 15% in 2023. However, some investors were plain unlucky. Data crunching by ETMutualFunds showed that SIP investors in nine equity mutual fund schemes have made less than 8% in a three year horizon.

These nine equity schemes were from ELSS, flexi cap, focused fund, large & mid cap, and large cap fund categories. Two large cap, focused funds, flexi cap funds, and ELSS funds offered less than 8% in a three year horizon. One large & mid cap fund also offered less than 8%.

We considered all equity schemes like large cap, mid cap, large & mid cap, small cap, ELSS, multi cap, flexi cap,focused fund, contra and value. We considered regular and growth options.


Aditya Birla Sun Life Equity Advantage Fund, a large & mid cap scheme, gave 7.78% in three years. A SIP of Rs 10,000 made in this scheme on November 5, 2020 would have been Rs 1.29 lakh.


Two of the largest focused funds - Mirae Asset Focused Fund and Axis Focused 25 Fund - offered 6.45% and 1.15% respectively. The schemes manage assets of Rs 9,160.75 crore and Rs 14,377.42 crore respectively. LIC MF Large Cap Fund offered 6.12%.

Aditya Birla Sun Life ELSS Tax Relief 96, one of the largest scheme in the ELSS category based on assets managed, gave 5.99% in three years. The scheme manages assets of Rs 14,173.85 crore. Axis Flexi Cap Fund, a scheme that manages assets of more than Rs 10,000, offered 5.97% in three years.

Axis Long Term Equity Fund, the largest scheme in the ELSS category based on assets managed, offered 4.93%. Axis Bluechip Fund, a flagship scheme by Axis Mutual Fund, offered only 4.69%. UTI Flexi Cap Fund offered 4.61% in a three year horizon.

Axis Focused 25 Fund offered the lowest return in three years. The scheme offered 1.15% during the same time period. A SIP made in this scheme three years ago would have been Rs 1.24 lakh.

Note, the above exercise is not a recommendation. One should not make investment or redemption decisions based on the above exercise.

One should always consider risk appetite, investment horizon and goal before making investment decisions. Past performance of the scheme does not guarantee future performance.

If you are looking for recommendations, see:
Best large & mid cap funds to invest in 2023
Best tax saving mutual funds or ELSS to invest in 2023
Best flexi cap mutual funds to invest in 2023
Best focused mutual funds to invest in 2023
Best large cap mutual funds to invest in 2023