11 Flexi-Cap Mutual Funds never gave negative returns in 4 Years
Over the past four calendar years (2021-2024), analysis of flexi-cap mutual funds identified 11 schemes that had accrued positive returns consistently over this period. Among the around 27 flexi-cap mutual funds that have made their debut in the market during the past four years, these 11 funds are special in that they never experienced negative returns at any point in time. Still, they declined in the year 2025 when all of them have notched in negative returns so far.
Performance Overview of the 11 Flexi-Cap Mutual Funds
Edelweiss Flexi-Cap Mutual Fund, which had remained in positive for the last four years, had given 34.70 percent in 2021, 0.68 percent in 2022, 29.29 percent in 2023, and 25.38 percent in 2024. But in 2025, it has dropped by 5.32 percent so far.
Franklin India Flexi-Cap Mutual Fund also performed well, giving a 40.31 percent return in 2021, 5.34 percent in 2022, 30.75 percent in 2023, and 21.75 percent in 2024. However, it has gone down by 3.81 percent in 2025.
HDFC Flexi-Cap Mutual Fund, which delivered 36.17 percent in 2021, 18.29 percent in 2022, 30.60 percent in 2023, and 23.48 percent in 2024, is down 1.42 percent in 2025 so far, which is the smallest loss among the above funds.
JM Flexi-Cap Mutual Fund, which had returns of 32.94 percent in 2021, 7.84 percent in 2022, 39.99 percent in 2023, and 33.26 percent in 2024, lost 6.36 percent in 2025.
Kotak Flexi-Cap Mutual Fund has also experienced steady growth through the years, at 25.37 percent in 2021, 5.00 percent in 2022, 24.20 percent in 2023, and 16.50 percent in 2024 but declined by 2.80 percent in 2025.
Mahindra Manulife Flexi-Cap Mutual Fund had a relatively modest returns of 2.20 percent in 2021, 1.37 percent in 2022, 30.91 percent in 2023, and 14.64 percent in 2024, but declined by 2.29 percent in 2025.
Navi Flexi-Cap Mutual Fund was doing well with 32.85 percent in 2021, 0.44 percent in 2022, 24.24 percent in 2023, and 11.37 percent in 2024, but has fallen 3.83 percent in 2025.
Quant Flexi-Cap Mutual Fund was one of the best flexi-cap funds of previous years. It had given 57.91 percent in 2021, 11.10 percent in 2022, 29.78 percent in 2023, and 15.28 percent in 2024. It has now shown a loss of 3.58 percent in 2025.
SBI Flexi-Cap Mutual Fund generated the returns for 2021, 2022, 2023, and 2024 stand at 30.77 percent, 0.68 percent, 22.81 percent, and 14.22 percent, respectively. However, the fund saw a decline of 1.44 percent in 2025.
Shriram Flexi-Cap Mutual Fund produced 20.42 percent for 2021, 2.35 percent for 2022, 26.58 percent for 2023, and 16.04 percent for 2024. Still, it incurred the maximum fall of 11.08 percent in 2025.
Taurus Flexi-Cap Mutual Fund had delivered 22.08 percent for 2021, 4.79 percent for 2022, 26.90 percent for 2023, and 17.34 percent for 2024. However, the fund experienced a fall of 4.14 percent in 2025.
Parag Parikh Flexi-Cap Mutual Fund’s Exception
Unlike the funds mentioned in the above, Parag Parikh Flexi-Cap Mutual Fund did not have a chance to enter into the list since it delivered a negative return of 7.23 percent in 2022. Instead, it had managed to gain a slight positive return of 0.30 percent in 2025 so far.
General Trend in the Market for 2025
The flexi-cap category had a wider stagnation in 2025. Among 39 flexi-cap mutual funds, just two schemes have reported positive returns this year so far. In addition to Parag Parikh Flexi-Cap Mutual Fund, the other fund which has been remaining in the green is Tata Flexi-Cap Mutual Fund.
The motive for carrying out the analysis is to ascertain flexi-cap mutual funds that, after four years of tenor, have offered sustainable positive returns and consequently evaluate their 2025 performance. Past performance does not serve as a better guarantor of future performance. Investors should exercise restraint not to make investment or redemption decisions solely based on this report.
It would be wise to keep in mind the risk appetite, the horizon of investment, and financial objectives while making investment decisions.
