Mutual funds continue to be one of the most powerful wealth creation tools for investors who want to participate in stock markets but prefer professional fund management instead of direct stock picking. While the markets remain volatile, certain funds have delivered extraordinary returns over the last 3 years. In this article, we highlight the Top 15 Mutual Funds that outperformed in the last 3 years, delivering returns ranging from 120% to a staggering 380% in absolute terms. We will cover their investment objectives, past performance, who should invest, and the key risks involved.
Earlier, we wrote about 12 Mutual Funds that Outperformed in Last 2 Years with 75% to 118% Returns which gained huge attention from investors. Now, let’s see the updated list based on the 3-year performance metrics.
How did we filter these funds?
We used below criteria.
- We have considered all equity mutual funds in India including sector funds, thematic mutual funds and global funds.
- Filtered funds of direct plans only
- Further filtered funds that generated highest returns in the last 3 years. Considered Top-15 mutual funds that outperformed for this period.
List of Top 15 Mutual Funds Outperformed in Last 3 Years
| Rank | Mutual Fund Scheme | 3-Year Annualised Return (%) | Absolute Return (%) | 1 Lakh would have been (₹) |
|---|---|---|---|---|
| 1 | Mirae Asset NYSE FANG+ ETF FoF | 56.19 | 380% | 4,80,000 |
| 2 | DSP World Gold Mining Overseas Equity Omni FoF | 45.37 | 307% | 4,07,000 |
| 3 | Mirae Asset S&P 500 Top 50 ETF FoF | 34.25 | 219% | 3,19,000 |
| 4 | Motilal Oswal BSE Enhanced Value Index Fund | 32.71 | 210% | 3,10,000 |
| 5 | Nippon India Taiwan Equity Fund | 32.56 | 209% | 3,09,000 |
| 6 | Edelweiss US Technology Equity FoF | 32.39 | 208% | 3,08,000 |
| 7 | SBI PSU Fund | 30.49 | 197% | 2,97,000 |
| 8 | Bandhan Small Cap Fund | 30.03 | 195% | 2,95,000 |
| 9 | Invesco India PSU Equity Fund | 29.93 | 194% | 2,94,000 |
| 10 | Franklin India Opportunities Fund | 29.90 | 194% | 2,94,000 |
| 11 | Navi US NASDAQ 100 FoF | 29.40 | 191% | 2,91,000 |
| 12 | ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund | 29.35 | 190% | 2,90,000 |
| 13 | ICICI Prudential NASDAQ 100 Index Fund | 29.26 | 190% | 2,90,000 |
| 14 | Kotak US Specific Equity Passive FoF | 29.14 | 189% | 2,89,000 |
| 15 | Motilal Oswal Midcap Fund | 28.93 | 188% | 2,88,000 |
(Absolute return calculated using CAGR over 3 years. Example: 30% CAGR ≈ 190% absolute return in 3 years). Data as of 7-Sep-2025
Deep Dive of 15 Mutual Funds Outperformed in Last 3 Years
#1 – Mirae Asset NYSE FANG+ ETF FoF
Fund Objective: Invests in NYSE FANG+ index (Facebook, Amazon, Netflix, Google, Tesla, Apple, etc.)
Annualised Returns:
- 3 Years: 56.19% (Absolute: 380%, ₹1 Lakh → ₹4.8 Lakhs)
Who Can Invest: Aggressive investors seeking global tech exposure.
Risk Factors:
- High volatility in US tech stocks
- Currency fluctuations
Earier we list this fund as part of 10 Mutual Funds Outperformed in Last 1 Year with 37% to 82% Returns.
#2 – DSP World Gold Mining Overseas Equity Omni FoF
Fund Objective: Invests in global gold mining companies.
Annualised Returns:
- 3 Years: 45.37% (Absolute: 307%, ₹1 Lakh → ₹4.07 Lakhs)
- 5 Years: 13.76%
- 10 Years: 17.85%
Who Can Invest: Investors looking for gold-linked diversification.
Risk Factors:
- Gold price dependency
- Currency risks
#3 – Mirae Asset S&P 500 Top 50 ETF FoF
Fund Objective: Tracks top 50 US companies from S&P 500.
Annualised Returns:
- 3 Years: 34.25% (Absolute: 219%, ₹1 Lakh → ₹3.19 Lakhs)
Who Can Invest: Investors seeking global diversification in US large caps.
Risk Factors:
- US market volatility
- Exchange rate fluctuations
We analysed this NFO earlier at Mirae Asset S&P 500 Top 50 ETF FoF – NFO Review and indicated that underlying index has generated massive returns in medium to long term and it is a good bet.
#4 – Motilal Oswal BSE Enhanced Value Index Fund
Fund Objective: Invests in BSE enhanced value index companies with attractive valuations.
Annualised Returns:
- 3 Years: 32.71% (Absolute: 210%, ₹1 Lakh → ₹3.1 Lakhs)
Who Can Invest: Value-focused investors with high-risk appetite.
Risk Factors:
- Market downturns can hurt value picks
#5 – Nippon India Taiwan Equity Fund
Fund Objective: Invests in Taiwanese tech and semiconductor companies.
Annualised Returns:
- 3 Years: 32.56% (Absolute: 209%, ₹1 Lakh → ₹3.09 Lakhs)
Who Can Invest: Investors betting on Taiwan’s semiconductor boom.
Risk Factors:
- Geopolitical tensions (China-Taiwan)
- Currency risks
#6 – Edelweiss US Technology Equity FoF
Fund Objective: Invests in US-based tech companies.
Annualised Returns:
- 3 Years: 32.39% (Absolute: 208%, ₹1 Lakh → ₹3.08 Lakhs)
- 5 Years: 18.46%
Who Can Invest: Aggressive investors seeking global tech exposure.
Risk Factors:
- Tech sector volatility
#7 – SBI PSU Fund
Fund Objective: Invests in PSU companies across various sectors.
Annualised Returns:
- 3 Years: 30.49% (Absolute: 197%, ₹1 Lakh → ₹2.97 Lakhs)
- 5 Years: 30.96%
- 10 Years: 14.85%
Who Can Invest: Investors bullish on PSU turnaround stories.
Risk Factors:
- Heavy government influence
- Sector-specific volatility
We reviewed this fund earlier at Top 5 Mutual Funds That Turned ₹1 Lakh into ₹2 Lakh in 2 Years.
#8 – Bandhan Small Cap Fund
Fund Objective: Focuses on small-cap companies with strong growth.
Annualised Returns:
- 3 Years: 30.03% (Absolute: 195%, ₹1 Lakh → ₹2.95 Lakhs)
- 5 Years: 32.7%
Who Can Invest: Investors with long-term horizon and high risk appetite.
Risk Factors:
- High volatility in small-caps
- Liquidity risks
This fund is among 13 Best Mutual Funds Rated 5-Star by Value Research (30%+ CAGR in 5 Years).
#9 – Invesco India PSU Equity Fund
Fund Objective: Invests in public sector companies.
Annualised Returns:
- 3 Years: 29.93% (Absolute: 194%, ₹1 Lakh → ₹2.94 Lakhs)
- 5 Years: 29.42%
- 10 Years: 18.48%
Who Can Invest: Long-term investors believing in PSU growth potential.
Risk Factors:
- Government-driven policies
- PSU inefficiencies
#10 – Franklin India Opportunities Fund
Fund Objective: Invests in high-growth opportunities across sectors.
Annualised Returns:
- 3 Years: 29.90% (Absolute: 194%, ₹1 Lakh → ₹2.94 Lakhs)
- 5 Years: 30.09%
- 10 Years: 18.0%
Who Can Invest: Diversified investors seeking long-term capital appreciation.
Risk Factors:
- Market-driven volatility
We reviews this fund when someone asked Which Mutual Funds can give 30%+ Returns article earlier.
#11 – Navi US NASDAQ 100 FoF
Fund Objective: Mirrors NASDAQ 100 index performance.
Annualised Returns:
- 3 Years: 29.40% (Absolute: 191%, ₹1 Lakh → ₹2.91 Lakhs)
Who Can Invest: Investors looking for US tech and innovation exposure.
Risk Factors:
- US tech volatility
- Currency risk
#12 – ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund
Fund Objective: Focused on pharma, healthcare, and diagnostics sector.
Annualised Returns:
- 3 Years: 29.35% (Absolute: 190%, ₹1 Lakh → ₹2.90 Lakhs)
- 5 Years: 22.59%
Who Can Invest: Investors bullish on Indian healthcare sector.
Risk Factors:
- Regulatory risks
- Sector concentration risk
We recommended this fund (ICICI Pru PHD Fund Review) in 2018 indicating it is good fund for 4-8 years time frame.
#13 – ICICI Prudential NASDAQ 100 Index Fund
Fund Objective: Invests in NASDAQ 100 index companies.
Annualised Returns:
- 3 Years: 29.26% (Absolute: 190%, ₹1 Lakh → ₹2.90 Lakhs)
Who Can Invest: Investors seeking US technology exposure.
Risk Factors:
- High US market volatility
#14 – Kotak US Specific Equity Passive FoF
Fund Objective: Provides exposure to US equities.
Annualised Returns:
- 3 Years: 29.14% (Absolute: 189%, ₹1 Lakh → ₹2.89 Lakhs)
Who Can Invest: Investors looking for global diversification.
Risk Factors:
- Exchange rate fluctuations
#15 – Motilal Oswal Midcap Fund
Fund Objective: Focuses on mid-cap companies with strong growth.
Annualised Returns:
- 3 Years: 28.93% (Absolute: 188%, ₹1 Lakh → ₹2.88 Lakhs)
- 5 Years: 34.96%
- 10 Years: 19.48%
Who Can Invest: Aggressive investors seeking mid-cap growth.
Risk Factors:
- High volatility
- Sector risks
This is among the 5 Best Midcap Mutual Funds to invest in 2025 based on rolling returns.
Final Thoughts
These 15 mutual funds have delivered outstanding returns over the last 3 years, ranging from 120% to 380%. However, investors must remember that such high returns come with proportionate risks. Many of these are thematic, global, or sectoral funds which can be extremely volatile. Investors should align these investments with their risk appetite and long-term financial goals.
For conservative investors, diversified equity funds might be more suitable. For aggressive investors, these high-performing funds can be considered as part of the satellite portfolio.
- 15 Mutual Funds Outperformed in Last 3 Years with 120% to 380% Returns - September 7, 2025
- 6 Best Value Mutual Funds That Outperformed with 218% to 244% Returns in 5 Years - September 6, 2025
- Urban Company IPO Review – Date, Price, GMP, Analysis – Should You Subscribe or Avoid? - September 6, 2025
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