Three equity mutual fund categories have delivered over 10% returns in 2026 so far. International equity funds lead with 21.21%, followed by sectoral-pharma at 13.98% and small-cap funds at 10.59%. Data as of 30 September showed that many other categories fell, highlighting how uneven market performance has been for investors this year.
Only three equity mutual fund categories have delivered more than 10% returns in 2026 so far, with international equity funds leading at 21.21%, followed by sectoral-pharma at 13.98% and small-cap funds at 10.59%
Equity mutual fund returns have been sharply uneven in 2026. While several categories are in negative territory, only three equity mutual fund categories have delivered more than 10% so far this year, based on category-level data as of 30 September.
International equity funds lead the list with a 21.21% return, followed by pharma funds at 13.98% and small-cap funds at 10.59%. In contrast, large-cap funds have lost 8.17%, while technology funds have fallen 20.27% during the same period.
The category-level numbers, however, do not tell the whole story. Returns have varied significantly among individual funds within these categories.
Nippon India Taiwan Equity Fund has returned 96.64% in 2026 so far. That is more than four times the category-level return. The next funds in the table are much closer to one another, with Edelweiss Emerging Markets Opportunities Equity Offshore at 33.99% and HSBC Global Emerging Markets Fund at 30.54%.
Nippon India Japan Equity Fund and Franklin Asian Equity Fund have also delivered more than 25% so far this year.
The top funds have done considerably better than the category average, here as well. Kotak Healthcare Fund delivered 29.10%, more than twice the category return.
The difference between the category and its top performers is again substantial. Bank of India Small Cap Fund returned 30.21%, while Samco Small Cap Fund and TrustMF Small Cap Fund returned 25.45% and 25.26%, respectively.
The broader equity picture explains why these three categories stand out. Multi-cap funds have returned 1.10% and mid-cap funds 0.56%, while flexi-cap funds have declined 2.78%. Large-cap funds have fallen 8.17% during the same period.
For investors, the 2026 numbers underline how differently equity mutual fund categories and individual schemes have performed this year. The high returns of a handful of funds also do not mean the entire category delivered comparable returns, making the distinction between category performance and individual fund performance important when looking at the year's winners.