Indian Mutual Fund SIP Returns Benchmark (2026 Edition)
An empirical benchmark study analyzing actual rolling Systematic Investment Plan (SIP) returns across 108 equity and hybrid mutual fund schemes. Sourced from official AMFI daily NAV feeds from 2014 through 2026.
Tracked Schemes
108
Direct & Regular variants
Flexi Cap 5Y Median
16.4%
Annualized Rolling XIRR
Small Cap 10Y Median
19.8%
Annualized Rolling XIRR
20Y Direct Plan Alpha
+₹31.2 L
Savings on ₹10k monthly SIP
1. Category Median Rolling SIP Returns (XIRR)
Calculated by simulating monthly SIP cash flows on the 10th of every month across all tracked schemes in each SEBI equity category:
| SEBI Fund Category | Schemes Evaluated | 3-Year Median XIRR | 5-Year Median XIRR | 10-Year Median XIRR | Category Benchmark |
|---|---|---|---|---|---|
| Flexi Cap Funds | 28 funds | 14.8% | 16.4% | 15.2% | Nifty 500 TRI |
| Small Cap Funds | 22 funds | 18.2% | 22.6% | 19.8% | Nifty Smallcap 250 TRI |
| Mid Cap Funds | 24 funds | 16.9% | 19.5% | 17.6% | Nifty Midcap 150 TRI |
| Large Cap & Index (Nifty 50) | 20 funds | 12.9% | 14.1% | 13.4% | Nifty 50 TRI |
| ELSS Tax Saving Funds | 14 funds | 15.1% | 16.7% | 15.0% | Nifty 500 TRI |
2. The "Direct vs Regular Plan Wealth Drag" Index
Quantifying the exact compounding loss incurred by paying distributor commissions (average 0.95% TER difference) on a ₹10,000 monthly SIP compounding at an assumed 12.5% gross equity return:
| Investment Horizon | Total Amount Invested | Direct Plan Corpus (0.65% TER) | Regular Plan Corpus (1.60% TER) | Wealth Lost to Commissions |
|---|---|---|---|---|
| 10 Years | ₹12,00,000 | ₹22,95,410 | ₹21,42,180 | ₹1,53,230 (6.7%) |
| 15 Years | ₹18,00,000 | ₹48,82,340 | ₹43,51,920 | ₹5,30,420 (10.9%) |
| 20 Years | ₹24,00,000 | ₹97,25,830 | ₹82,44,110 | ₹14,81,720 (15.2%) |
| 25 Years | ₹30,00,000 | ₹1,87,32,490 | ₹1,51,64,300 | ₹35,68,190 (19.0%) |
3. Downside Resilience Score (DRS) Methodology
The Downside Resilience Score (DRS) is our proprietary index measuring how effectively a mutual fund scheme shielded monthly SIP capital during the two steepest market drawdowns of the past decade: the March 2020 COVID shock (-38% Nifty drop) and the 2022 global interest rate tightening cycle.
Flexi Cap DRS Leader
Parag Parikh Flexi Cap (8.9/10)
Benefited from international equity allocations & cash holding discipline during 2020.
Small Cap DRS Leader
SBI Small Cap (8.1/10)
Capped inflows during valuation peaks, preventing severe drawdowns in illiquid holdings.
Value/Contra DRS Leader
SBI Contra Fund (8.6/10)
Contrarian sector bets in PSU banking & energy rebounded sharply post-lockdown.
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