13 mutual funds outperform with over 35% annual returns since last Diwali

Nearly 13 equity mutual funds have delivered returns of over 35% since the last Diwali, celebrated on October 31, 2024, according to an analysis by ETMutualFunds. In total, 522 equity schemes were reviewed for the period.

A deeper analysis showed that out of these 522 funds, 387 generated positive returns, while 135 recorded negative performance.

Mirae Asset NYSE FANG+ ETF Fund of Fund topped the list with a stellar 74.27% return since last Diwali, followed by Invesco India – Invesco Global Consumer Trends Fund of Fund, which gained 61.42% over the same period.

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The next two top-performing funds were from Mirae Asset Mutual Fund. Mirae Asset S&P 500 Top 50 ETF FoF and Mirae Asset Hang Seng TECH ETF FoF delivered returns of 51.82% and 51.22%, respectively, during the period. Nippon India Taiwan Equity Fund followed with a 43.72% gain since the last Diwali.

Motilal Oswal Nasdaq 100 FoF offered a return of 41.97%, while Edelweiss US Technology Equity FoF gained 41.82% since October 31, 2024. Mirae Asset Global X Artificial Intelligence & Technology ETF FoF posted a return of 40.68% during the same period.

Edelweiss Greater China Equity Offshore Fund delivered 39.06%, and DSP World Mining Overseas Equity Omni FoF gained 37.44% in the period under review.

Axis Greater China Equity FoF and ICICI Prudential Strategic Metal and Energy Equity FoF returned 36.59% and 36.55%, respectively, while Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FoF posted 35.33%.

Two schemes from Edelweiss Mutual Fund — Edelweiss Europe Dynamic Equity Offshore Fund and Edelweiss Emerging Markets Opportunities Equity Offshore Fund — delivered 33.39% and 33.07%, respectively. They were followed by two DSP Mutual Fund offerings: DSP US Specific Equity Omni FoF and DSP Global Innovation Overseas Equity Omni FoF, which gave 31.59% and 31.08%, respectively.

Two Nasdaq-focused funds — Navi US Nasdaq 100 FoF and ICICI Prudential NASDAQ 100 Index Fund — delivered 28.48% and 28.03%, respectively.

Among actively managed thematic funds, HDFC Defence Fund, the only defence-focused fund, delivered a 17.77% return since the last Diwali. Two schemes from Motilal Oswal Mutual Fund — Motilal Oswal Multi Cap Fund and Motilal Oswal Business Cycle Fund — gained 14.27% and 13.99%, respectively.

Kotak Pioneer Fund rounded off the double-digit return earners with a 10.22% gain.

Among other large active funds, HDFC Flexi Cap Fund and HDFC Focused Fund delivered 9.17% and 9.03%, respectively, while Aditya Birla Sun Life Transportation and Logistics Fund posted 9.01%.

Parag Parikh Flexi Cap Fund, the largest actively managed flexi-cap fund by assets, returned 7.74%, followed by ICICI Prudential Flexicap Fund and ICICI Prudential US Bluechip Equity Fund, which delivered 7.50% and 7.44%, respectively.

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SBI Large & Midcap Fund and SBI Multicap Fund posted a return of 4.58% and 4.55% respectively in the said time period. Bandhan Value Fund and Aditya Birla SL PSU Equity Fund were the last ones to offer positive returns in the said time period. The funds gave 0.06% each in the said time period.

Negative performers
Samco Flexi Cap Fund lost the most of around 15.05% since the last Diwali, followed by three funds from Quant Mutual Fund. Quant Business Cycle Fund, Quant Consumption Fund, and Quant Manufacturing Fund gave 11.82%, 11.50%, and 11.46% respectively in the same time period.

Three funds from Quant Mutual Fund - Quant Mid Cap Fund, Quant Large & Mid Cap Fund, and Quant PSU Fund - lost 6.81%, 6.61%, and 6.59% respectively in the mentioned time period.

SBI Consumption Opp Fund lost 5.48% since the last Diwali, followed by Tata Ethical Fund, which lost 5.45% in the same period. Nippon India Small Cap Fund, the largest smallcap fund based on assets managed, lost 4.49% since the last Diwali.

LIC MF Midcap Fund lost the lowest of around 0.01% since October 31, 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 31, 2024, to October 10, 2025.

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