Top Multicap Funds for 2026: 3-Year Rolling Returns

A comprehensive analysis of multicap mutual funds has identified five top performers for 2026, based on their consistent 3-year rolling returns. These funds are structured for long-term wealth creation, allocating investments across large, mid, and small-cap companies.

The methodology prioritized 3-year rolling returns over point-to-point comparisons to accurately assess performance across various market cycles. This rigorous review scrutinized average and median rolling returns, minimum returns achieved, and the frequency of exceeding 15% and 20% returns.

Leading Multicap Fund Performance

• Nippon India Multi Cap Fund: Achieved the highest average 3-year rolling return of 26.49% and a median return of 24.48%. Its minimum 3-year rolling return was 18.60%, with over 91% of periods delivering above 20%.
• Mahindra Manulife Multi Cap Fund: Recorded an average rolling return of 24.51% and a median of 23.88%. This fund’s minimum rolling return stood at 16.62%, with 80.39% of periods surpassing 20% returns.
• ICICI Prudential Multi Cap Fund: Delivered an average 3-year rolling return of 22.10% and a median of 21.48%. Its minimum rolling return was 15.57%, and more than 71% of periods generated over 20% returns.
• Baroda Multi Cap Plan B: Demonstrated an average 3-year rolling return of 21.95% and a median of 21.39%. Over 71% of rolling periods yielded returns exceeding 20%.
• Axis MultiCap Fund: With data available from 2021, this fund shows an average rolling return of 22.82% and a median of 22.74%. An impressive 88.92% of its available periods delivered returns above 20%.

A significant finding across all five shortlisted funds is the absence of any negative 3-year rolling periods within the May 2019 to August 2026 dataset.

Strategic Investment Considerations

Investors are advised to concentrate their holdings to one or two well-researched multicap funds to mitigate excessive portfolio overlap. Given the inherent volatility of equity markets, investing through Systematic Investment Plans (SIPs) is recommended for most individuals.

For multicap funds, an ideal investment horizon of at least 5 years is suggested to capitalize on long-term growth.