Equity mutual funds lose up to 15% in 2025. Are any of these part of your portfolio?

In the current calendar year so far, equity mutual funds have delivered returns ranging from a loss of up to 15% to gains of up to 13%, an analysis by ETMutualFunds showed.

A total of 279 equity mutual funds were reviewed during the period, of which 46 posted negative returns, while 233 delivered positive gains of up to 13%.

The top two laggards posted double-digit losses in 2025 so far. Samco Flexi Cap Fund recorded the steepest decline of about 15.49%, followed by LIC MF Small Cap Fund, which fell 10.46% during the same period.


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Samco ELSS Tax Saver Fund delivered a negative return of 8.99% in 2025 so far, followed by HSBC Small Cap Fund, which declined 7.78% during the same period. Motilal Oswal Midcap Fund also fell 6.70%.

Tata Small Cap Fund posted a 6.58% loss in 2025 so far, followed by two schemes from Shriram Mutual Fund — Shriram Flexi Cap Fund and Shriram ELSS Tax Saver Fund — which slipped 6.55% and 5.70%, respectively.

Among small cap schemes, Baroda BNP Paribas Small Cap Fund and Kotak Small Cap Fund declined 5.17% and 5.05%, respectively, while Franklin India Small Cap Fund and Bank of India Small Cap Fund dropped 4.28% and 4.26%.

Quant Mid Cap Fund, managed by Sandeep Tandon-led Quant Mutual Fund, posted a 3.07% loss during the same period. Nippon India Small Cap Fund, the largest small cap scheme by assets, was down 1.98%.

SBI Small Cap Fund fell 1.79% year-to-date, followed by three schemes that lost 1.66% each — Quant Multi Cap Fund, Canara Robeco Small Cap Fund, and Union Small Cap Fund.

Edelweiss Small Cap Fund declined 1.49% in 2025 so far. Two Motilal Oswal schemes — Motilal Oswal Focused Fund and Motilal Oswal Flexi Cap Fund — fell 1.28% and 1.16%, respectively.

SBI Midcap Fund delivered a 1.13% negative return in the same period, while Quant Large & Mid Cap Fund was down 0.76%.

Baroda BNP Paribas Mutual Fund, the Large & Mid Cap Fund and the Flexi Cap Fund declined 0.65% and 0.13%, respectively.

LIC MF Midcap Fund was the last among those in the red, posting a marginal loss of 0.08% in 2025 so far.

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Positive performers
Out of 233 equity mutual funds that delivered positive returns in 2025 so far, 14 posted double-digit gains. The top two performers were from ICICI Prudential Mutual Fund — ICICI Pru Large & Mid Cap Fund and ICICI Pru Focused Equity Fund, which returned 13.77% and 13.29%, respectively.

SBI Focused Fund followed with a return of 12.72% during the same period. Among ELSS schemes, HDFC ELSS Tax Saver Fund, ICICI Pru ELSS Tax Saver Fund, and Aditya Birla SL ELSS Tax Saver Fund returned 11.01%, 10.83%, and 10.53%, respectively.

The largest active and flexi cap fund by assets under management, Parag Parikh Flexi Cap Fund, posted a gain of 8.65% in the said period.

WOC Multi Cap Fund and Kotak Contra Fund each delivered 6.66% returns in 2025 so far. Among mid caps, WOC Mid Cap Fund and HDFC Mid Cap Fund posted returns of 5.47% and 5.46%, respectively.

The oldest and largest contra fund, SBI Contra Fund, delivered a 4.45% return in the same period. Two schemes from Edelweiss Mutual Fund, Edelweiss Focused Fund and Edelweiss Mid Cap Fund, gave 2.81% and 2.76% returns, respectively.

Aditya Birla SL Value Fund was the last among positive performers, posting a marginal gain of 0.05% in 2025 so far.

Methodology and disclaimer
This analysis considered all equity mutual funds (excluding sectoral and thematic categories) in their regular-growth options. The performance period spans January 1, 2025, to October 27, 2025.

Note: The above analysis is not a recommendation. Investors should not make buy or sell decisions based solely on this data. Investment decisions must align with individual goals, risk appetite, and investment horizon.