If you’re looking for mutual funds that have consistently created long-term wealth, you may check how Nippon India‘s top-performing schemes have rewarded disciplined investors.
If you’ve stayed invested through the market’s ups and downs over the last decade, the returns may surprise you as Nippon India’s 3 mutual funds have made the most of these market cycles, with three schemes generating over 20% XIRR over 10 years.
Here’s a closer look at the funds, their risk profile, and their long-term performance by covering a calculation of how a monthly SIP of just Rs 10,000 in these three funds has grown nearly Rs 40 lakh over the past 10 years.
Top-performing Nippon India mutual funds in the last 10 years
Here’s a look at the best-performing Nippon India mutual funds based on SIP returns over the last 10 years.
| Fund name | 10-year SIP returns in % | Benchmark returns in % | Category average returns in % | A monthly SIP of Rs 10,000 would have grown to |
| Nippon India Small Cap Fund – Direct Plan | 22.53 | 16 | 18.27 | Rs 39.75 lakh approx |
| Nippon India Growth Mid Cap Fund – Direct Plan | 21.05 | 18.06 | 17.58 | Rs 36.68 lakh approx |
| Nippon India Power & Infra Fund – Direct Plan | 20.93 | 17.42 | 17.81 | Rs 36.34 lakh approx |
| Source: Value Research as of 25th June 2026 | ||||
Lumpsum performance
| Funds | 10-Year Returns In % | Benchmark Returns In % | Rs 1 lakh lump sum would have grown to |
| Nippon India Small Cap Fund – Direct Plan | 22.43 | 16 | Rs 7.56 lakh approx |
| Nippon India Growth Mid Cap Fund – Direct Plan | 19.8 | 18.06 | Rs 6.09 lakh approx |
| Nippon India Power & Infra Fund – Direct Plan | 19.06 | 17.42 | Rs 5.72 lakh approx |
| Source: Value Research. As on 25-Jun-2026 | |||
Nippon India Small Cap Fund – Direct Plan
This small-cap fund, which was launched on January 01, 2013, has generated a return since launch of 24.11% as of June 25, 2026. The fund is currently managed by Samir Rachh, and this mutual fund by Nippon India has an expense ratio of 0.54%.
The fund has generated an average annual return of 20.37% in the last 3 years, outperforming both the BSE 250 SmallCap TRI (19.66%) and the small-cap category average (20.24%) as on 31-May-2026.
Benchmark: Nippon India Small Cap Fund – Direct Plan
Top 10 stock holdings: Bharat Heavy Elect, HDFC Bank, TD Power Systems, MCX, Apar, SBI, NLC India, Karur Vysya Bank, Zydus Wellness and Tube Investments.
Top 5 sector-wise holdings: Industrials, Financial, Consumer Discretionary, Materials, and Healthcare.
Risk profile: The Nippon India Small Cap Fund is classified as a Very High Risk scheme by Value Research. With a Standard Deviation of 19.56%, the fund has experienced lower volatility than the benchmark (22.19%) and the category average (20.38%).
The fund’s Sharpe ratio of 0.74 is higher than the benchmark (0.62) and the category average (0.70), indicating the fund’s ability to generate better risk-adjusted returns.
With a Sortino ratio of 1.09, the fund outperforms both the benchmark (0.98) and the category average (1.05), indicating the fund’s ability to manage downside risk more effectively while generating superior returns.
A beta of 0.87, lower than the category average (0.90), indicates the fund is less volatile than the broader small-cap market.
The fund has generated an alpha of 2.50%, exceeding the category average of 2.02%, indicating a better portfolio management strategy of the fund manager to generate returns higher than the benchmark after adjusting for risk.
Nippon India Growth Mid Cap Fund – Direct Plan
Since its inception on January 1, 2013, Nippon India Mutual Fund’s equity mutual fund scheme has produced an 18.38% return. This mid-cap fund has an expense ratio of 0.62% and is currently managed by Rupesh Patel.
The Nippon India Growth Mid Cap Fund is classified as a Very High Risk scheme by Value Research; however, the fund has delivered an average annual return of 23.87% in the last 3 years, outperforming both the BSE 150 MidCap TRI (20.99%) and the mid-cap category average (20.78%). This highlights its ability to generate superior long-term returns.
Benchmark: BSE 150 MidCap TRI
Top 10 stock holdings: BSE, Fortis Healthcare, Federal Bank, AU Small Fin Bank, Bharat Forge, Eternal, Info Edge (India), Power Finance, GE Vernova T&D and ICICI Bank.
Top 5 sector-wise holdings: Financial, Industrials, Consumer Discretionary, Healthcare, and Technology.
Risk profile: With a standard deviation of 18.11%, the fund’s volatility is marginally lower than the benchmark (18.22%) and broadly in line with the category average (18.09%).
The fund’s Sharpe ratio of 0.99 is well above the benchmark (0.83) and the category average (0.82), indicating that the fund has generated significantly better risk-adjusted returns.
With a Sortino ratio of 1.33, the fund outperforms both the benchmark (1.09) and the category average (1.08), indicating superior management of downside risk.
The fund has a beta of 0.97, which is only slightly higher than the category average (0.96), indicating that the fund’s movements are broadly in line with the mid-cap segment.
The fund has generated an impressive alpha of 3.31%, far exceeding the category average of 0.39%.
Nippon India Power & Infra Fund – Direct Plan
This equity mutual fund scheme of Nippon India Mutual Fund was launched on January 01, 2013, and since its launch, the fund has generated a return of 15.48%.
The thematic-Infrastructure fund is currently managed by Rahul Modi, and the fund has a higher expense ratio of 0.82%.
The fund has generated an average annual return of 26.28% in the last 3 years compared to BSE India Infrastructure TRI (28.44%) and the thematic infrastructure category average (23.03%), highlighting its strong long-term wealth creation within the sector.
Benchmark: BSE India Infrastructure TRI
Top 10 stock holdings: Reliance Ind, Larsen & Toubro, NTPC, NTPC Green Energy, Tata Power, Bharat Heavy Elect, Triveni Turbine, Power Fin., Bharti Airtel, and CG Power.
Top 5 sector-wise holdings: Industrials, Energy & Utilities, Consumer Discretionary, Materials, and Financial.
Risk profile: The Nippon India Power & Infra Fund is classified as a very high-risk scheme, as thematic funds are typically more volatile than diversified equity funds.
With a standard deviation of 20.89%, the fund’s volatility is significantly lower than the benchmark (25.51%) but marginally higher than the category average (20.27%). The fund’s Sharpe ratio of 0.98 is higher than both the benchmark (0.89) and the category average (0.85), indicating that the fund has generated superior risk-adjusted returns.
With a Sortino ratio of 1.52, the fund outperforms the category average (1.27) but is slightly below the benchmark (1.70). This suggests the fund has managed downside risk effectively while delivering strong returns.
The fund has a beta of 0.73, slightly higher than the category average (0.69) but well below 1, indicating that the fund is less volatile than the market.
The fund has generated an impressive alpha of 3.97%, substantially higher than the category average of 1.55%, indicating the fund manager’s ability to generate consistently higher returns against the benchmark.
Word of caution
Investors should keep in mind that past performance should not be their sole basis for selecting a mutual fund.
While these schemes have delivered impressive returns over the last 10 years, future performance may differ depending on the market conditions and underlying sector-specific risks.
Investors should always read scheme-related documents first and also evaluate a fund’s investment objective, risk profile, asset allocation, expense ratio, fund manager’s history, and historical performance of the fund.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
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