Top 7 equity mutual funds deliver over 30% CAGR since last Diwali. Have you invested in any?

The top seven equity mutual funds delivered over 30% CAGR since last Diwali celebrated on October 20, 2025, an analysis by ETMutualFunds showed. There were 576 funds in the said time period.

A further deep dive into the data showed that the top two funds delivered over 50% return in the said time period. Out of 576 funds in the said time period, 139 funds gave positive returns, one failed to generate any return and 436 funds gave negative returns.

Also Read | Explained: What are rolling returns in mutual funds and how do you calculate them?


Nippon India Taiwan Equity Fund delivered the highest return of around 87.36% in the said time period. This was followed by ICICI Pru Strategic Metal and Energy Equity FoF which gave 54.87% CAGR since the last Diwali celebrated on October 25, 2025.

HSBC Brazil Fund posted a gain of 45.75% in the said time period. The next two funds were from Mirae Asset Mutual Fund. Mirae Asset NYSE FANG+ETF FoF and Mirae Asset S&P 500 Top 50 ETF FoF gained 45.15% and 41.58% CAGR respectively in the said time period.

Edelweiss Emerging Markets Opp Eq. Offshore Fund gained 31.05% since the last Diwali. This was followed by Mirae Asset Global X Artificial Intelligence & Technology ETF FoF that gained 30.67% since the last Diwali.

How have others performed since last Diwali?

Edelweiss US Value Equity Offshore Fund delivered a return of 28.24% since the last Diwali. This was followed by two funds by DSP Mutual Fund. DSP World Mining Overseas Equity Omni FoF and DSP US Specific Equity Omni FoF gave 28.12% and 27.93% respectively.

TRUSTMF Small Cap Fund delivered a return of 14.70% since the last Diwali. This was followed by HDFC Pharma and Healthcare Fund which gave 14.44% in the same time period. Two funds from Edelweiss Mutual Fund - Edelweiss ASEAN Equity Off-Shore Fund and Edelweiss Greater China Equity Off-shore Fund - 12.79% and 12.76% respectively.

HDFC Defence Fund, the only actively managed fund based on defence sector, was the last one in the list to deliver double digit gains and gave 10.42% CAGR in the said time period.

SBI Healthcare Opp Fund and Quant Healthcare Fund gave 7.25% and 7.02% respectively in the said time period. Motilal Oswal Innovation Opportunities Fund was the last one in the list to deliver positive returns. The fund gave 0.02% return.

ICICI Pru Energy Opportunities Fund, an energy sector based fund, failed to generate any return in the said time period.

Negative performers

ICICI Pru FMCG Fund lost the most at around 24.72% since the last Diwali in 2025. Mirae Asset Hang Seng TECH ETF FoF delivered a negative return of 24.19% in the mentioned period.

Parag Parikh ELSS Tax Saver Fund lost 13.52% since the last Diwali celebrated on October 20, 2025. HDFC Infrastructure Fund delivered a negative return of 12.27% in the said time period. ICICI Pru Large & Mid Cap Fund and ICICI Pru Large Cap Fund lost 11.41% and 11.39% respectively in the said time period.

Also Read | Smallcap mutual funds attract 44% of equity inflows despite stretched valuations. Should investors be cautious?

Four funds by ICICI Prudential Mutual Fund - ICICI Pru Banking & Fin Serv Fund, ICICI Pru Value Fund, ICICI Pru Business Cycle Fund and ICICI Pru Housing Opp Fund lost 10.23%, 10.22%, 10.19% and 10.09% respectively.

SBI Contra Fund, the largest and oldest contra fund, delivered a negative return of 9.82% in the said time period. HDFC Flexi Cap Fund, the second largest flexi cap fund based on assets managed, delivered a negative return of 7.08% in the said time period.

Parag Parikh Flexi Cap Fund, the largest active fund and flexi cap fund based on the assets managed, lost 6.69% since the last Diwali in 2025. Two funds from Quant Mutual Fund - Quant Focused Fund and Quant Commodities Fund - lost 2.65% and 2.61% respectively in the said time period.

Bajaj Finserv Multi Cap Fund lost the lowest of around 0.02% since the last Diwali celebrated on October 20, 2025.

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 October 20, 2025 to October 24, 2026.

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

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)

If you have any mutual fund queries, message ET Mutual Funds on Facebook/Twitter. We will get them answered by our panel of experts. Do share your questions at ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.