If someone had invested ₹10,000 every month from 12th April 2023 to 11th April 2025, their total investment would be ₹2,40,000. In this article, we explain the best performing mutual funds from April 2023 to April 2025, based on SIP returns.
The performance is measured using XIRR (Extended Internal Rate of Return), which shows how much return investors actually got on their investment. We also include the final value of each SIP. Below is a detailed analysis of small cap, mid cap, and large cap mutual funds for this 2-year period.
Overview of Contents
🔹 Small Cap Mutual Funds SIP Returns (April 2023 – April 2025)
Small cap funds invest in small companies with high growth potential. These funds can give very high returns, but they are also risky. Here is how the top small cap mutual funds performed during the 2-year period:
| Fund Name | Final Value | XIRR (%) |
|---|---|---|
| Bandhan Small Cap | ₹2,90,418 | 19.55 |
| ITI Small Cap | ₹2,75,511 | 11.91 |
| Invesco India Smallcap | ₹2,73,562 | 10.88 |
| LIC MF Small Cap | ₹2,62,433 | 5.48 |
| Mahindra Manulife Small Cap | ₹2,61,998 | 5.26 |
| Axis Small Cap | ₹2,61,457 | 5.01 |
| Kotak Small Cap | ₹2,60,772 | 4.67 |
| SBI Small Cap | ₹2,60,542 | 4.55 |
| Nippon India Small Cap | ₹2,60,042 | 4.30 |
| Quant Small Cap | ₹2,58,818 | 3.67 |
| Motilal Oswal Small Cap | ₹2,57,832 | 3.17 |
| HDFC Small Cap | ₹2,57,746 | 3.13 |
| HSBC Small Cap | ₹2,49,168 | 1.70 |
| Aditya Birla SL Small Cap | ₹2,48,772 | 1.53 |
| ICICI Pru Smallcap | ₹2,47,621 | 1.02 |
| Sundaram Small Cap | ₹2,46,626 | 0.61 |
| Union Small Cap | ₹2,42,246 | 0.90 |
🟢 Best performer: Bandhan Small Cap with ₹2,90,418
🔴 Lowest performer: Union Small Cap with ₹2,42,246
🔹 Mid Cap Mutual Funds SIP Returns (April 2023 – April 2025)
Mid cap funds invest in medium-sized companies. These funds are less risky than small caps and often give balanced returns. Let’s check how mid cap funds performed:
| Fund Name | Final Value | XIRR (%) |
|---|---|---|
| HDFC Mid-Cap Opportunities | ₹2,82,133 | 16.42 |
| Kotak Emerging Equity | ₹2,79,949 | 15.24 |
| Axis Midcap | ₹2,77,112 | 13.82 |
| HSBC Midcap | ₹2,74,067 | 12.09 |
| JM Midcap | ₹2,70,494 | 10.28 |
| DSP Midcap | ₹2,61,265 | 6.20 |
| Quant Mid Cap | ₹2,60,964 | 6.04 |
| Tata Mid Cap Growth | ₹2,58,145 | 4.66 |
| Aditya Birla SL Midcap | ₹2,57,878 | 4.53 |
| Edelweiss Mid Cap | ₹2,56,628 | 3.90 |
| SBI Magnum Midcap | ₹2,55,835 | 3.50 |
| Nippon India Growth | ₹2,55,635 | 3.39 |
| ICICI Pru MidCap | ₹2,54,546 | 2.85 |
| Franklin India Prima | ₹2,51,552 | 1.31 |
| UTI Mid Cap | ₹2,49,019 | 0.05 |
| Canara Robeco Mid Cap | ₹2,47,876 | -0.43 |
| Taurus Mid Cap | ₹2,42,173 | 0.87 |
🟢 Best performer: HDFC Mid-Cap Opportunities
🔴 Lowest performer: Taurus Mid Cap
🔹 Large Cap Mutual Funds SIP Returns (April 2023 – April 2025)
Large cap funds invest in big and stable companies. These are safer options, suitable for conservative investors. Let’s see how large cap funds gave returns in this time:
| Fund Name | Final Value | XIRR (%) |
|---|---|---|
| Kotak Bluechip | ₹2,78,657 | 15.10 |
| Franklin India Prima | ₹2,75,759 | 13.48 |
| Nippon India Growth | ₹2,74,528 | 12.85 |
| ICICI Pru Bluechip | ₹2,64,912 | 7.72 |
| Canara Robeco Bluechip | ₹2,64,741 | 7.63 |
| WhiteOak Capital Large Cap | ₹2,62,315 | 6.34 |
| Sundaram Large Cap | ₹2,61,589 | 5.96 |
| Quant Large Cap | ₹2,60,415 | 5.29 |
| LIC MF Large Cap | ₹2,59,474 | 4.79 |
| Mahindra Manulife Large Cap | ₹2,56,888 | 3.44 |
| Edelweiss Large Cap | ₹2,56,842 | 3.42 |
| Axis Bluechip | ₹2,55,855 | 2.91 |
| UTI Mastershare | ₹2,55,832 | 2.90 |
| Aditya Birla SL Frontline Equity | ₹2,55,318 | 2.63 |
| HSBC Large Cap | ₹2,53,738 | 1.82 |
| Groww Large Cap | ₹2,52,461 | 1.16 |
| PGIM India Large Cap | ₹2,51,453 | 0.65 |
| JM Large Cap | ₹2,51,059 | 0.45 |
🟢 Best performer: Kotak Bluechip
🔴 Lowest performer: JM Large Cap
✅ Summary & Final Thoughts
- Bandhan Small Cap gave the best overall return among all categories.
- HDFC Mid-Cap Opportunities and Kotak Emerging Equity were best in the mid cap space.
- Kotak Bluechip gave top returns in the large cap category.
💡Tip for investors: Choose funds as per your risk appetite. If you want high returns and are okay with risks, go for small or mid cap. If you prefer stable growth, large cap funds are safer.