Investing in equity mutual funds comes with market risks, and it is rare to find funds that consistently generate positive returns every single year. However, certain mutual funds have stood the test of time and delivered positive returns every year for the last 10 years. In this article, we will discuss 20 such equity mutual funds that generated positive returns every year in last 10 years during 2015 to 2024, classify them based on their category, and analyze how each category has performed.
How we filtered these funds?
Market volatility often results in years of negative returns for mutual funds. Even top-performing funds may experience a down year. However, the 20 mutual funds listed below have maintained a positive streak for an entire decade, making them strong contenders for consistent wealth creation.
We filtered all equity funds excluding ETFs. We got 775 mutual funds list.
We further segregated and taken out funds that have positive returns every single year during 2015 to 2024. We got exactly 20 equity mutual funds. While these have generated positive returns every year, these also multipled investors money which is ranging between 91% to 186% during this period.
Classification of Funds by Category
The 20 equity mutual funds are classified into the following categories:
- Large Cap Funds
- Flexi Cap Funds
- Mid & Large Cap Funds
- Multi Cap Funds
- ELSS (Tax Saver) Funds
- Thematic/Consumption Funds
- International Funds
List of 20 Equity Mutual Funds with Positive Returns Every Year in the Last 10 Years (2015 to 2024)
Here is the performance of these funds over the last 10 years.
| Funds | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Great Consumer Fund | 5.27 | 3.29 | 53.08 | 3.17 | 10.45 | 13.00 | 35.18 | 8.89 | 34.87 | 18.74 |
| Canara Robeco Consumer Trends Fund | 2.86 | 4.29 | 42.50 | 3.31 | 14.28 | 22.09 | 31.90 | 7.60 | 27.97 | 21.64 |
| Canara Robeco ELSS Tax Saver Fund | 1.14 | 0.54 | 33.02 | 3.53 | 11.77 | 28.68 | 36.81 | 1.22 | 25.20 | 18.71 |
| Taurus ELSS Tax Saver Fund | 3.43 | 4.54 | 38.61 | 0.61 | 8.38 | 14.63 | 20.95 | 7.31 | 29.56 | 22.01 |
| ICICI Prudential ELSS Tax Saver | 5.31 | 5.29 | 27.64 | 1.53 | 9.68 | 14.34 | 34.65 | 3.06 | 23.96 | 17.05 |
| LIC MF ELSS Tax Saver | 2.30 | 1.79 | 38.16 | 0.14 | 9.02 | 10.37 | 27.52 | 1.45 | 26.72 | 23.99 |
| Kotak Flexicap Fund | 3.95 | 10.75 | 35.86 | 0.16 | 13.36 | 12.89 | 26.59 | 5.98 | 25.31 | 17.36 |
| ICICI Prudential Passive Strategy Fund (FOF) | 1.74 | 11.62 | 19.57 | 4.34 | 7.15 | 11.09 | 30.71 | 4.50 | 29.65 | 16.05 |
| ICICI Prudential Global Stable Equity Fund (FOF) | 6.01 | 8.18 | 7.71 | 0.07 | 23.61 | 4.10 | 20.51 | 3.05 | 12.04 | 6.15 |
| Invesco India Large & Mid Cap Fund | 5.80 | 5.19 | 42.02 | 1.24 | 11.94 | 14.65 | 31.44 | 0.89 | 33.20 | 38.72 |
| Nippon India Large Cap Fund | 1.85 | 3.43 | 39.91 | 0.86 | 8.15 | 5.85 | 33.42 | 12.30 | 33.23 | 19.13 |
| Canara Robeco Bluechip Equity Fund | 0.64 | 3.00 | 32.77 | 4.52 | 17.20 | 24.85 | 26.51 | 2.29 | 23.74 | 19.04 |
| ICICI Prudential Bluechip Fund | 0.79 | 8.81 | 33.92 | 0.21 | 10.50 | 14.20 | 29.96 | 7.53 | 28.14 | 17.39 |
| Mirae Asset Large Cap Fund | 5.12 | 8.93 | 39.57 | 0.22 | 13.97 | 14.96 | 29.13 | 2.65 | 19.65 | 13.68 |
| Edelweiss Large Cap Fund | 1.50 | 1.16 | 34.99 | 2.50 | 12.96 | 19.28 | 25.17 | 5.03 | 27.63 | 16.27 |
| Groww Large Cap Fund | 5.38 | 6.21 | 35.65 | 0.18 | 13.55 | 9.86 | 19.07 | 5.86 | 23.75 | 14.08 |
| JM Large Cap Fund | 0.27 | 3.63 | 21.93 | 2.02 | 5.91 | 19.38 | 24.56 | 4.17 | 30.52 | 16.67 |
| LIC MF Large Cap Fund | 0.19 | 3.16 | 28.47 | 0.05 | 15.54 | 15.61 | 26.63 | 0.64 | 18.84 | 15.45 |
| ICICI Prudential Multicap Fund | 3.77 | 11.35 | 29.57 | 1.19 | 7.01 | 10.27 | 37.62 | 5.61 | 36.48 | 21.50 |
| ICICI Prudential FMCG Fund | 5.66 | 1.79 | 36.41 | 8.03 | 5.51 | 10.46 | 20.45 | 19.34 | 24.33 | 1.56 |
Classification by Mutual Fund Category
#1 – Large Cap Funds
Large-cap funds invest primarily in the top 100 companies by market capitalization. These funds are relatively stable and suitable for conservative equity investors.
List of Large Cap Funds with 10-Year Positive Returns:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| Nippon India Large Cap Fund | 158 |
| Canara Robeco Bluechip Equity Fund | 155 |
| ICICI Prudential Bluechip Fund | 151 |
| Mirae Asset Large Cap Fund | 148 |
| Edelweiss Large Cap Fund | 146 |
| Groww Large Cap Fund | 134 |
| JM Large Cap Fund | 129 |
| LIC MF Large Cap Fund | 125 |
These funds have shown strong growth, with Nippon India Large Cap Fund generating 158% total returns over the last decade.
#2 – Flexi Cap Funds
Flexi cap funds provide fund managers the flexibility to invest across large, mid, and small-cap stocks. This flexibility helps them capitalize on opportunities across market segments.
List of Flexi Cap Funds:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| Kotak Flexicap Fund | 152 |
| ICICI Prudential Passive Strategy Fund (FOF) | 136 |
#3 – Large & Mid Cap Funds
Large & mid-cap funds invest at least 35% each in large-cap and mid-cap stocks, balancing stability and high growth potential.
Fund Under This Category:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| Invesco India Large & Mid Cap Fund | 185 |
#4 – Multi Cap Funds
Multi-cap funds invest across large, mid, and small caps while maintaining at least 25% exposure to each.
Fund Under This Category:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| ICICI Prudential Multicap Fund | 164 |
#5 – ELSS (Tax Saver) Funds
ELSS funds offer tax benefits under Section 80C and have a mandatory lock-in period of 3 years.
ELSS Funds With 10-Year Positive Returns:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| Canara Robeco ELSS Tax Saver Fund | 161 |
| Taurus ELSS Tax Saver Fund | 150 |
| ICICI Prudential ELSS Tax Saver | 143 |
| LIC MF ELSS Tax Saver | 141 |
#6 – Thematic & Consumption Funds
Thematic funds focus on specific sectors or themes, such as FMCG, consumption, or emerging trends.
List of Thematic Funds:
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| Mirae Asset Great Consumer Fund | 186 |
| Canara Robeco Consumer Trends Fund | 178 |
| ICICI Prudential FMCG Fund | 134 |
Mirae Asset Great Consumer Fund tops the list with 186% returns, indicating the strong performance of India’s consumption sector.
#7 – International Fund
International funds invest in global equities, providing diversification beyond the Indian markets.
| Fund Name | Last 10 Years Returns (%) |
|---|---|
| ICICI Prudential Global Stable Equity Fund (FOF) | 91 |
Should You Invest in These Funds?
These funds have delivered positive returns every year in the past decade, indicating strong performance. However, past performance does not guarantee future returns. Here are a few key takeaways:
- Diversify across categories: Large-cap funds provide stability, while flexi-cap and multi-cap funds offer growth potential.
- Consider risk tolerance: Thematic and sector funds like consumption funds can be high risk but also high reward.
- Review the investment horizon: Long-term investors can benefit the most from equity funds.
Conclusion: Finding mutual funds that have never given negative returns in the last 10 years are rare. The funds mentioned in this list have demonstrated strong performance and consistency. Investors looking for steady growth can explore these funds based on their investment goals and risk appetite.
Do you have any of these funds in your portfolio? Share your thoughts in the comments!
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I offer my thanks to the author of this article, the contents of which is well analysed and informative.
Well researched and analysed. Very useful for someone who is new to MF and who is looking for a comparatively safer fund for investment
Thank you Varadarajan