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Summary: A decade of flexi-cap investing has thrown up some clear winners. This story rounds up nine flexi-cap funds that have delivered over 15 per cent returns over 10 years, along with what a monthly SIP in each would be worth today and whether these funds deserve a place in your portfolio.
For investors with a long-term horizon seeking steady growth, flexi-cap funds are often the go-to option.
These funds, as per SEBI classification, have the freedom to invest across the market. Simply put, flexi-cap funds can invest in large-, mid- and small-cap stocks without any mandates, giving fund managers the flexibility to move capital wherever they see the best opportunities, providing investors with the safety of large caps along with the fast growth of mid and small caps.
How have flexi-cap funds fared in the past?
If you look at the category’s one-year performance, it has been quite subdued, at nearly 6.4 per cent. However, extend this to five and 10 years, and the performance looks impressive, at nearly 12 per cent and 12.9 per cent, respectively. This is because flexi-cap funds are meant for the long run, i.e., they are ideal for those seeking growth over time.
That said, there are a handful of funds in the flexi-cap category that did much better, earning over 15 per cent returns over a 10-year period. Had you started a Rs 10,000 monthly SIP in any of these funds, your money would have grown to over Rs 25 lakh today.
Let’s look at nine such funds.
#9 Franklin India Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 26.5 lakh
- 10-year SIP returns: 15.2 per cent
- Expense ratio: 0.75 per cent
- Assets under management (AUM): Rs 19,274 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| HDFC Bank | 7.83 |
| ICICI Bank | 6.34 |
| Axis Bank | 5.56 |
| Larsen & Toubro | 3.97 |
| SBI | 3.47 |
#8 HSBC Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 26.7 lakh
- 10-year SIP returns: 15.4 per cent
- Expense ratio: 0.89 per cent
- Assets under management (AUM): Rs 5,633 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| ICICI Bank | 4.52 |
| HDFC Bank | 3.31 |
| Reliance Industries | 2.75 |
| Shriram Finance | 2.12 |
| TD Power Systems | 2.09 |
#7 PGIM India Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 26.9 lakh
- 10-year SIP returns: 15.4 per cent
- Expense ratio: 0.48 per cent
- Assets under management (AUM): Rs 5,818 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| HDFC Bank | 6.1 |
| ICICI Bank | 5.98 |
| Bharti Airtel | 3.48 |
| Reliance Industries | 2.72 |
| Eternal | 2.55 |
#6 ABSL Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 27 lakh
- 10-year SIP returns: 15.5 per cent
- Expense ratio: 0.71 per cent
- Assets under management (AUM): Rs 26,727 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| ICICI Bank | 6.1 |
| HDFC Bank | 3.58 |
| Kotak Bank | 3.39 |
| Reliance Industries | 2.76 |
| SBI | 2.35 |
#5 Edelweiss Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 28.4 lakh
- 10-year SIP returns: 16.4 per cent
- Expense ratio: 0.47 per cent
- Assets under management (AUM): Rs 3,484 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| ICICI Bank | 5.98 |
| HDFC Bank | 5.65 |
| Larsen & Toubro | 4.1 |
| Reliance Industries | 3.54 |
| NTPC | 3.01 |
#4 JM Flexicap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 30.3 lakh
- 10-year SIP returns: 17.6 per cent
- Expense ratio: 0.55 per cent
- Assets under management (AUM): Rs 5,178 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| HDFC Bank | 5.32 |
| ICICI Bank | 5.18 |
| Arvind | 2.81 |
| Larsen & Toubro | 2.78 |
| Godfrey Phillips | 2.77 |
#3 Parag Parikh Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 30.5 lakh
- 10-year SIP returns: 17.8 per cent
- Expense ratio: 0.52 per cent
- Assets under management (AUM): Rs 1.43 lakh crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| HDFC Bank | 8.33 |
| Power Grid | 6.23 |
| ITC | 6.07 |
| ICICI Bank | 5.52 |
| Coal India | 5.35 |
#2 HDFC Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 30.9 lakh
- 10-year SIP returns: 18 per cent
- Expense ratio: 0.55 per cent
- Assets under management (AUM): Rs 1.06 lakh crore
Top 5 stock holdings
|
Company name
|
% of net assets |
| ICICI Bank | 9.18 |
| Axis Bank | 6.84 |
| HDFC Bank | 6.77 |
| SBI | 4.3 |
| SBI Life Insurance | 3.47 |
#1 Quant Flexi Cap Fund
- Value of a Rs 10,000 monthly SIP after 10 years: Rs 36.5 lakh
- 10-year SIP returns: 21.1 per cent
- Expense ratio: 0.58 per cent
- Assets under management (AUM): Rs 7,140 crore
Top 5 stock holdings
| Company name | % of net assets |
|---|---|
| Adani Power | 9 |
| Adani Enterprises | 8.62 |
| Samvardhana Motherson | 8.52 |
| Aurobindo Pharma | 6.64 |
| ICICI Prudential Asset Management | 6.27 |
The 9 flexi-cap stars
They delivered more than 15 per cent over a 10-year period, comfortably outpacing their peers
| Fund name | 10-year SIP returns (%) | Value Research Rating |
|---|---|---|
| Quant Flexi Cap | 21.1 | ★★★ |
| HDFC Flexi Cap | 18 | ★★★★★ |
| Parag Parikh Flexi Cap | 17.8 | ★★★★★ |
| JM Flexicap | 17.6 | ★★★★ |
| Edelweiss Flexi Cap | 16.4 | ★★★★ |
| ABSL Flexi Cap | 15.5 | ★★★★ |
| PGIM India Flexi Cap | 15.4 | ★★ |
| HSBC Flexi Cap | 15.4 | ★★★★ |
| Franklin India Flexi Cap | 15.2 | ★★★★ |
| Returns are for direct plans as of August 6, 2026 | ||
Are flexi-cap funds right for you?
Flexi-cap funds work best for investors with a long investment horizon of at least seven to 10 years or more. Because these funds can move freely between large, mid and small caps, they tend to carry a higher risk profile than pure large-cap funds, particularly during periods of market volatility when mid- and small-cap stocks can see sharp swings. This makes them well suited to long-term financial goals, such as retirement planning, a child's education or wealth creation over a decade, rather than short-term needs.
Investors should also be comfortable staying invested through market cycles, since the flexibility that drives returns over time can also mean bumpier rides along the way.
Should you invest in any of the abovementioned funds?
Strong past returns are encouraging, but they don't tell you whether a fund suits your own goals, risk appetite and time horizon. Before you invest in any of the funds mentioned above, it's worth doing your homework, or letting the experts do it for you. Subscribe to Value Research Fund Advisor to find out which flexi-cap funds, if any, deserve a place in your portfolio.
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