Equity mutual funds have once again proven their potential to create wealth over time. Despite market fluctuations and economic uncertainties, certain mutual funds—especially global, thematic, and technology-oriented ones—have delivered extraordinary performance in the last one year. Since the previous Diwali (Nov 2024), a few equity mutual funds have rewarded investors with returns ranging from 40% to a massive 110%. In this article, we highlight the top 10 mutual funds that outperformed since last Diwali, their investment objectives, past performance, ideal investor profiles, and associated risks.
Earlier we also reviewed the 10 Mutual Funds Outperformed in Last 10 Years with 495% to 630% Returns.
What are Equity Mutual Funds?
Equity mutual funds invest primarily in stocks of companies, either diversified across sectors or focused on specific themes like technology, commodities, or international markets. While they have the potential for high returns, they also come with higher risks due to market volatility and global economic factors.
How We Identified These Top Performers
- Considered all equity mutual funds, including sectoral, thematic, and international FoFs (Funds of Funds). We have excluded commodities funds like gold funds or silver funds from this analysis.
- Evaluated performance based on 1-year returns (19-Oct-2024 to 18-Oct-2025).
- Shortlisted the top 10 funds that generated the highest returns during this period.
List of Top 10 Mutual Funds Since Last Diwali (1-Year Returns)
| Rank | Fund Name | 1-Year Return (%) |
|---|---|---|
| 1 | DSP World Gold Mining Overseas Equity Omni FoF | 109.77 |
| 2 | Mirae Asset NYSE FANG+ ETF FoF | 74.14 |
| 3 | Invesco India – Invesco Global Consumer Trends FoF | 54.08 |
| 4 | Mirae Asset S&P 500 Top 50 ETF FoF | 52.04 |
| 5 | Mirae Asset Hang Seng TECH ETF FoF | 47.59 |
| 6 | Mirae Asset NYSE FANG+ ETF | 43.10 |
| 7 | ICICI Prudential Strategic Metal and Energy Equity FoF | 41.85 |
| 8 | Nippon India Taiwan Equity Fund | 41.31 |
| 9 | Motilal Oswal Nasdaq 100 FOF | 41.29 |
| 10 | Mirae Asset Global X Artificial Intelligence & Technology ETF FoF | 40.47 |
Deep Dive into 10 Top Performing Funds from Last Diwali
#1 – DSP World Gold Mining Overseas Equity Omni FoF
Fund Objective:
Invests in global gold mining companies that benefit from rising gold prices.
Performance:
- 1-Year: 109.77%
- 3-Year: 54.23%
- 5-Year: 18.11%
- 10-Year: 17.84%
Who Can Invest:
- Investors looking for diversification via commodities like gold.
- Those expecting inflation hedging benefits.
Risk Factors:
- Volatile gold prices.
- Regulatory changes in mining sectors.
- Currency exchange rate impact.
This fund is even top performer in the last 3 years which we covered as part of 15 Mutual Funds Outperformed in Last 3 Years with 120% to 380% Returns.
#2 – Mirae Asset NYSE FANG+ ETF FoF
Fund Objective:
Invests in global tech giants like Meta, Amazon, Netflix, Google, Apple, and Microsoft via the NYSE FANG+ index.
Performance:
- 1-Year: 74.14%
- 3-Year: 65.47%
Who Can Invest:
- Tech-savvy investors seeking exposure to global innovation leaders.
Risk Factors:
- Heavy reliance on large-cap US tech performance.
- Global technology sector corrections.
#3 – Invesco India – Invesco Global Consumer Trends FoF
Fund Objective:
Invests in leading global consumer companies benefiting from evolving lifestyle trends and spending habits.
Performance:
- 1-Year: 54.08%
- 3-Year: 31.49%
Who Can Invest:
- Investors seeking global consumer exposure for long-term growth.
Risk Factors:
- Fluctuations in global consumption demand.
- Geopolitical and currency-related risks.
Global funds are riskier due to geo-political risks and foreign exchange currency risk, hence investors should assess the risk and if they are comfortable, they can pick-up some of the Top International Mutual Funds to invest in 2025.
#4 – Mirae Asset S&P 500 Top 50 ETF FoF
Fund Objective:
Tracks the top 50 US companies from the S&P 500 Index.
Performance:
- 1-Year: 52.04%
- 3-Year: 39.11%
Who Can Invest:
- Long-term investors who want exposure to leading US corporations.
Risk Factors:
- Corrections in the US market.
- Dollar-rupee currency volatility.
$5 – Mirae Asset Hang Seng TECH ETF FoF
Fund Objective:
Focuses on Chinese tech stocks listed under the Hang Seng TECH Index.
Performance:
- 1-Year: 47.59%
- 3-Year: 33.94%
Who Can Invest:
- Investors optimistic about China’s tech recovery.
Risk Factors:
- Chinese policy and regulatory changes.
- Market volatility in Asian economies.
#6 – Mirae Asset NYSE FANG+ ETF
Fund Objective:
Replicates the performance of the NYSE FANG+ index directly through ETF investments.
Performance:
- 1-Year: 43.10%
- 3-Year: 54.51%
Who Can Invest:
- Investors seeking direct exposure to FAANG and other top US innovators.
Risk Factors:
- High dependency on a handful of US mega-cap stocks.
#7 – ICICI Prudential Strategic Metal and Energy Equity FoF
Fund Objective:
Invests globally in companies operating in metals, energy, and natural resources sectors.
Performance:
- 1-Year: 41.85%
- 3-Year: 23.33%
Who Can Invest:
- Investors bullish on commodities and cyclical recovery.
Risk Factors:
- Commodity price fluctuations.
- Energy market volatility and policy shifts.
#8 – Nippon India Taiwan Equity Fund
Fund Objective:
Focuses on Taiwan-based technology and semiconductor firms.
Performance:
- 1-Year: 41.31%
- 3-Year: 41.84%
Who Can Invest:
- Investors looking for exposure to the global chip and semiconductor growth story.
Risk Factors:
- Taiwan-China geopolitical tensions.
- Semiconductor demand cycles.
#9 – Motilal Oswal Nasdaq 100 FOF
Fund Objective:
Invests in the top 100 Nasdaq-listed companies offering diversified tech-driven growth.
Performance:
- 1-Year: 41.29%
- 3-Year: 37.9%
- 5-Year: 21.92%
Who Can Invest:
- Long-term investors looking for US innovation and growth exposure.
Risk Factors:
- US market dependency.
- High sector concentration in technology and digital businesses.
This is one of the consistent performer where I am investing in this mutual fund even in 2025.
#10 – Mirae Asset Global X Artificial Intelligence & Technology ETF FoF
Fund Objective:
Invests in companies leading innovation in AI and emerging technologies globally.
Performance:
- 1-Year: 40.47%
- 3-Year: 40.78%
Who Can Invest:
- Investors bullish on long-term growth in AI and digital transformation.
Risk Factors:
- Volatility in AI valuations.
- Rapid technological shifts and global competition.
We discussed more about this fund as part of 10 Unique Mutual Funds Schemes to invest.
Conclusion
Since the last Diwali, a select group of mutual funds—particularly those with exposure to global markets, technology, and commodities—have generated outstanding returns ranging from 40% to 110%. These funds have benefited from the rally in gold prices, the surge in global tech stocks, and the resilience of consumption-driven themes.
However, such funds are high-risk, high-reward investments. Sectoral and international diversification brings opportunities but also exposure to geopolitical, currency, and market-specific risks.
If you plan to invest now, ensure they align with your risk tolerance, financial goals, and investment horizon. A balanced portfolio with exposure across multiple asset classes remains the key to sustainable wealth creation.
- 10 Mutual Funds that Outperformed with 40% to 110% Returns Since Last Diwali - October 19, 2025
- 7 Low Risk-High Return Mutual Funds as per ValueResearch to Invest in 2025 - October 17, 2025
- 5 Index Mutual Funds with over 20% CAGR in the 5 Years to invest in 2025 - October 15, 2025