In the last few months, equity markets have seen sharp movements driven by global cues, sectoral momentum, and renewed investor interest in themes like power, commodities, and international markets. While many investors chase long-term returns, short-term performance often highlights emerging trends and sectors gaining traction. In this article, we look at 10 mutual funds that delivered impressive returns ranging from 14% to 67% in just the last 3 months (as of 30-Apr-2026). But before you jump in, remember — such sharp short-term returns often come with high risks.
Explore – Best Mutual Funds to Invest in 2026 As per Claude AI
How we filtered these mutual funds?
- Considered only equity mutual funds including sectoral/thematic and international funds
- Selected funds with highest 3-month returns
- Included Direct Plans for consistency
- Data considered as of 30-Apr-2026
List of 10 Mutual Funds that delivered 14% to 67% in last 3 months
- Nippon India Taiwan Equity Fund – 67.3%
- Groww BSE Power ETF FOF – 28.7%
- Motilal Oswal Nasdaq 100 FOF – 28.7%
- Bank of India Small Cap Fund – 17.2%
- Edelweiss Recently Listed IPO Fund – 16.7%
- Quant Commodities Fund – 15.3%
- Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FoF – 15.1%
- Quant Value Fund – 15.0%
- Nippon India Power & Infra Fund – 14.6%
- ICICI Prudential Energy Opportunities Fund – 13.9%
1) Nippon India Taiwan Equity Fund
Fund Objective:
This fund invests in equity and equity-related securities of companies listed in Taiwan, focusing on technology-driven sectors.
Annualised Returns:
- 3 Months: 67.3%
- 6 Months: 92.1%
- 1 Year: 242.4%
Who can invest?
- High risk investors
- Investors looking for international diversification
- Those bullish on semiconductor and global tech sectors
Risk Factors:
- Country-specific risk as performance depends heavily on Taiwan economy
- Currency risk due to INR vs foreign currency fluctuations
- High volatility as global tech stocks can see sharp corrections
My View:
This is a pure international thematic fund with very high risk. While returns look attractive, such performance may not sustain. Suitable only for aggressive investors allocating a small portion of their portfolio.
You may like – Top Performing Small Cap Mutual Funds in India
2) Groww BSE Power ETF FOF
Fund Objective:
This fund tracks BSE Power Index through ETF investments, focusing on power sector companies.
Annualised Returns:
- 3 Months: 28.7%
- 6 Months: 18.1%
Who can invest?
- High risk investors
- Investors bullish on India’s power and infrastructure growth
Risk Factors:
- Sector concentration risk as investments are limited to power companies
- Regulatory risks like tariff changes or government policies
- Cyclical nature of power sector impacting returns
My View:
This is a sector fund focused on power. While the sector is currently in momentum, such rallies can reverse quickly. Invest only if you understand sector cycles.
3) Motilal Oswal Nasdaq 100 FOF
Fund Objective:
Invests in Nasdaq 100 companies via FoF route, offering exposure to global tech giants.
Annualised Returns:
- 3 Months: 28.7%
- 6 Months: 24.5%
- 1 Year: 77.2%
Who can invest?
- Moderate to high risk investors
- Investors seeking US market exposure
Risk Factors:
- Currency fluctuations can impact returns
- Dependency on US tech sector performance
- Global economic risks affecting US markets
My View:
This is a good diversification fund for long-term investors, but still carries global risks. Ideal as a small allocation rather than core portfolio.
4) Bank of India Small Cap Fund
Fund Objective:
Invests in small-cap companies with high growth potential.
Annualised Returns:
- 3 Months: 17.2%
- 6 Months: 4.5%
- 1 Year: 15.1%
Who can invest?
- High risk investors
- Long-term investors with 5+ year horizon
Risk Factors:
- High volatility compared to large cap funds
- Liquidity risk during market corrections
- Small caps can underperform for extended periods
My View:
Small cap funds can create wealth but come with sharp ups and downs. Invest through SIP and avoid lump sum at market peaks.
5) Edelweiss Recently Listed IPO Fund
Fund Objective:
Focuses on recently listed companies and upcoming IPO opportunities.
Annualised Returns:
- 3 Months: 16.7%
- 6 Months: 4.5%
- 1 Year: 20.7%
Who can invest?
- High risk investors
- Investors interested in IPO and new-age companies
Risk Factors:
- IPO valuation risks as many stocks list at premium valuations
- Limited historical performance of companies
- High volatility post listing
My View:
This is a niche and high-risk strategy. IPO-based investing can be rewarding but unpredictable. Allocate only a small portion.
6) Quant Commodities Fund
Fund Objective:
Invests in commodity-linked sectors such as metals, oil & gas.
Annualised Returns:
- 3 Months: 15.3%
- 6 Months: 8.7%
- 1 Year: 18.3%
Who can invest?
- High risk investors
- Investors tracking commodity cycles
Risk Factors:
- Highly cyclical nature tied to global commodity prices
- Dependence on global demand-supply dynamics
- Sharp corrections during down cycles
My View:
Commodity funds work well only in certain cycles. Timing plays a key role. Not suitable for conservative investors.
You may like Best SIP Mutual Funds for 2026
7) Mirae Asset Global Electric & Autonomous Vehicles Equity Passive FoF
Fund Objective:
Provides exposure to global EV and autonomous vehicle companies.
Annualised Returns:
- 3 Months: 15.1%
- 6 Months: 28.2%
- 1 Year: 98.9%
Who can invest?
- High risk investors
- Investors bullish on EV and future mobility theme
Risk Factors:
- Theme concentration risk
- Global technology sector volatility
- Dependency on innovation cycles and adoption rates
My View:
EV is a strong long-term theme, but valuations can be stretched. Invest gradually and avoid chasing recent performance.
8) Quant Value Fund
Fund Objective:
Follows value investing strategy across sectors.
Annualised Returns:
- 3 Months: 15.0%
- 6 Months: 7.0%
- 1 Year: 17.6%
Who can invest?
- Moderate risk investors
- Investors looking for diversified value strategy
Risk Factors:
- Value traps where stocks remain undervalued for long
- Underperformance during growth-driven markets
- Fund manager strategy risk
My View:
Compared to other funds in this list, this is relatively balanced. Suitable for investors who prefer diversified exposure with moderate risk.
9) Nippon India Power & Infra Fund
Fund Objective:
Invests in power and infrastructure-related companies.
Annualised Returns:
- 3 Months: 14.6%
- 6 Months: 6.4%
- 1 Year: 17.2%
Who can invest?
- High risk investors
- Investors bullish on infrastructure growth story
Risk Factors:
- Sector concentration risk
- Policy and regulatory changes impacting projects
- Capital intensive nature leading to earnings volatility
My View:
Infrastructure theme can generate returns over long term, but near-term volatility is high. Investors should stagger investments.
10) ICICI Prudential Energy Opportunities Fund
Fund Objective:
Focuses on energy sector including traditional and renewable energy.
Annualised Returns:
- 3 Months: 13.9%
- 6 Months: 11.4%
- 1 Year: 23.1%
Who can invest?
- High risk investors
- Investors interested in energy transition theme
Risk Factors:
- Commodity price volatility affecting oil & gas companies
- Regulatory changes in energy sector
- Transition risks between traditional and renewable energy
My View:
Energy sector offers opportunities but is highly cyclical. Investors should have patience and avoid short-term expectations.
Explore – Large Cap vs Flexi Cap vs Mid Cap: Where Should You Invest in 2026?
Quick Comparison Table (Top Performers)
| Fund Name | 3 Month Return | 6 Month Return | 1 Year Return | Category |
|---|---|---|---|---|
| Nippon India Taiwan Equity Fund | 67.3% | 92.1% | 242.4% | International |
| Groww BSE Power ETF FOF | 28.7% | 18.1% | NA | Sectoral |
| Motilal Oswal Nasdaq 100 FOF | 28.7% | 24.5% | 77.2% | International |
| Bank of India Small Cap Fund | 17.2% | 4.5% | 15.1% | Small Cap |
| Edelweiss Recently Listed IPO Fund | 16.7% | 4.5% | 20.7% | Thematic |
| Quant Commodities Fund | 15.3% | 8.7% | 18.3% | Sectoral |
| Mirae Asset Global EV Fund | 15.1% | 28.2% | 98.9% | International |
| Quant Value Fund | 15.0% | 7.0% | 17.6% | Diversified |
| Nippon India Power & Infra Fund | 14.6% | 6.4% | 17.2% | Sectoral |
| ICICI Prudential Energy Opportunities Fund | 13.9% | 11.4% | 23.1% | Sectoral |
Summary of Mutual Fund Performance
- Top performer delivered a massive 67% return in just 3 months
- Sectoral and thematic funds dominated the list
- International exposure also contributed to high returns
- Most funds fall under high-risk category
Conclusion
While these mutual funds have delivered stellar short-term returns, investors should not make decisions based purely on 3-month performance. Most of these are thematic or sectoral funds, which can be highly volatile.
Investors should align investments with their financial goals, risk appetite, and investment horizon. Diversification remains key. Instead of chasing recent winners, focus on consistent performers with strong fundamentals.
Disclaimer: Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
I want to make a financial planning with good investment guidance.
I would suggest you to reach out to SEBI registered investment advisor for complete financial planning