Eight Equity Mutual Funds Record Double-Digit SIP Gains Since Last Diwali, ET Study Finds

Key Takeaways

• An ETMutualFunds analysis published on 28 October 2026 reviewed systematic investment plan returns across 295 equity mutual fund schemes.
• Eight schemes recorded double-digit SIP gains during the period beginning around Diwali 2025, according to the study.
• The findings concern historical SIP performance and should not be confused with lump-sum CAGR or expected future returns.

Eight equity mutual fund schemes generated double-digit gains on systematic investment plan (SIP) contributions made since Diwali 2025, according to an analysis published by ETMutualFunds on 28 October 2026.

The study covered 295 equity mutual fund schemes and examined the performance of regular contributions over the period beginning around 20 October 2025.

Its findings show that a relatively small group of schemes achieved double-digit SIP gains during the review period.

The analysis also highlights the importance of distinguishing returns generated through periodic investments from those calculated on a one-time investment.

What the Study Examined

A systematic investment plan allows money to be invested at regular intervals rather than through a single contribution.

Because investments are made on different dates, each instalment purchases mutual fund units at the prevailing applicable net asset value.

The final value of an SIP therefore depends on the sequence of investment dates, the NAVs at which units are purchased and the value of those units at the end of the measurement period.

This differs from a lump-sum investment, where the full amount is invested at one point in time.

The ETMutualFunds analysis assessed 295 equity schemes and identified eight that achieved double-digit SIP gains over the specified period.

The available published summary does not establish the individual returns of all eight schemes, so those figures have not been reproduced here.

Understanding SIP Return Calculations

SIP performance is commonly assessed using an annualised internal rate of return methodology, often expressed through XIRR.

This methodology accounts for the timing and amount of each investment and the final value of the portfolio.

Lump-sum CAGR, by contrast, measures the compound annual growth rate of a single investment over a given period.

The two measures are not interchangeable.

Even when the same mutual fund is evaluated over identical calendar dates, a lump-sum return and SIP return can differ because the money enters the scheme at different times.

For periods shorter than one year, annualised return figures also need to be interpreted carefully because annualisation expresses a shorter period's return on a yearly basis.

The study's results should therefore be read in the context of the precise cash-flow schedule and return methodology used.

Differences Across Equity Mutual Fund Categories

Equity mutual funds operate under different investment mandates, including large-cap, mid-cap, small-cap, flexi-cap, sectoral and international strategies.

The performance of schemes can vary considerably because of their portfolio holdings, geographic exposure, sector allocation and investment styles.

Changes in the prices of underlying securities affect NAVs and, consequently, the performance of investments made through SIPs.

As a result, schemes within the same broad equity mutual fund universe can produce materially different returns over a particular period.

The results of a study conducted over approximately one year cannot independently establish how schemes have performed across longer market cycles.

What the Historical Data Establishes

The report identifies eight schemes recording double-digit SIP gains among the 295 reviewed.

It does not establish that those schemes will generate similar results in subsequent periods.

Nor does the reported count establish the performance of every remaining scheme without access to the full dataset.

Historical SIP results are influenced by the particular market environment, the dates on which investments were made and the scheme's investment exposure.

The analysis offers a snapshot of how periodic investments across a large group of equity schemes performed between Diwali 2025 and October 2026.

The findings are therefore a historical performance comparison rather than a forecast of future mutual fund returns.