3 flexi-cap stars that gave 20%+ returns in the last 5 years

Summary: Flexi-cap funds have delivered impressive returns in the past, holding their ground even during the recent market correction. Here, we look at three flexi-cap funds that gave over 20 per cent returns over a five-year period.

For mutual fund investors seeking growth, flexi-cap funds have become the go-to option. As the name suggests, these funds have the flexibility to invest across the market.

Due to their design, flexi-cap funds are relatively stable compared to the high-performing yet unpredictable mid- and small-cap funds. And unlike large-cap funds, they have delivered better returns, making them the preferred choice for most investors.

Long-term performance

Flexi-cap funds have put up an impressive show over the long term. Over the past five and 10 years, the category has delivered average returns of 13.75 per cent and 14.75 per cent, respectively. But some funds have clearly raised the bar, clocking over 20 per cent returns over a five-year period.

So, let’s take a closer look at three flexi-cap funds that managed to deliver 20 per cent-plus returns based on a five-year SIP.

#3 HDFC Flexi Cap Fund

• Five-year SIP return: 20.53 per cent
• Value of a Rs 10,000 monthly SIP after five years: Rs 9.98 lakh
• Assets under management (AUM): Rs 97,452 crore
• Expense ratio: 0.67 per cent

#2 ICICI Prudential Focused Equity Fund

• Five-year SIP return: 20.97 per cent
• Value of a Rs 10,000 monthly SIP after five years: Rs 10.09 lakh
• Assets under management (AUM): Rs 14,935 crore
• Expense ratio: 0.59 per cent

#1 HDFC Focused Fund

• Five-year SIP return: 21.53 per cent
• Value of a Rs 10,000 monthly SIP after five years: Rs 10.25 lakh
• Assets under management (AUM): Rs 26,332 crore
• Expense ratio: 0.63 per cent

Are flexi-cap funds right for you?

While flexi-cap funds are relatively more stable than mid- and small-cap funds, they are best suited for investors with a long-term horizon of at least five years. Equity markets are inherently volatile, and flexi-cap funds can often disappoint in the short run. But if you stay invested through market cycles, they have the potential to deliver strong rewards over time.

That said, flexi-cap funds have held up fairly well during the recent market correction. In the year ending October 2025, eight of the 10 largest flexi-cap funds delivered returns of 10-13 per cent, compared with just 8 per cent from the benchmark Nifty 500 TRI. This resilience was largely due to their higher large-cap allocation during the downturn, which provided a cushion and helped protect investors’ capital.

So, which flexi-cap funds should you invest in?

To find out which flexi-cap funds are suitable for your financial goals, subscribe to Value Research Fund Advisor. Get our list of analyst-recommended funds, track your investments in real time and build a customised mutual fund portfolio that is aligned with your financial needs, risk tolerance and time horizon.

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Also read: How flexi-cap funds turned 2025's volatility into gains