The number
The median focused fund returned -1.75% in the year to 9 October 2026, and 18 of the 28 funds with a full year of history were negative. Over three years the median is 11.5% a year, so the last year is a dent in a decent record.
All figures are for the Direct plan, Growth option, computed from daily NAVs to 9 October 2026. A focused fund holds at most 30 stocks, so fewer positions carry more of the result than in a flexi-cap fund. Returns of a year or more are compounded annual rates.
Every fund with a year of history
| Fund | 1 year | 3 years a year | 5 years a year | Worst fall in 3 years |
|---|---|---|---|---|
| Motilal Oswal Focused Fund | 24.4% | 15.1% | 10.6% | −31.3% |
| Old Bridge Focused Fund | 10.9% | — | — | — |
| SBI Focused Fund | 8.1% | 14.6% | 10.6% | −12.9% |
| Quant Focused Fund | 5.7% | 13.2% | 12.3% | −24.0% |
| HSBC Focused Fund | 4.7% | 13.9% | 11.2% | −20.7% |
| Union Focused Fund | 3.4% | 10.8% | 8.6% | −17.0% |
| ITI Focused Fund | 2.8% | 16.4% | — | −18.4% |
| 360 ONE Focused Fund | 2.3% | 11.3% | 10.4% | −16.9% |
| Invesco India Focused Fund | 2.3% | 20.0% | 14.0% | −21.7% |
| Bandhan Focused Fund | 1.0% | 14.7% | 11.2% | −17.8% |
| Kotak Focused Fund | −0.1% | 14.0% | 10.6% | −17.9% |
| Sundaram Focused Fund | −0.5% | 9.4% | — | −17.2% |
| Aditya Birla Sun Life Focused Fund | −0.7% | 11.8% | 9.2% | −16.5% |
| LIC MF Focused Fund | −1.0% | 8.9% | — | −21.1% |
| DSP Focused Fund | −2.5% | 12.0% | 9.8% | −15.8% |
| ICICI Prudential Focused Fund | −2.9% | 16.1% | 13.7% | −16.8% |
| Nippon India Focused Fund | −3.3% | 8.6% | 8.8% | −17.6% |
| Axis Focused Fund | −3.9% | 8.7% | 2.7% | −18.2% |
| HDFC Focused Fund | −4.2% | 14.7% | 16.1% | −14.0% |
| JM Focused Fund | −4.3% | 11.0% | 10.7% | −19.5% |
| Edelweiss Focused Fund | −5.0% | 11.2% | — | −17.1% |
| Mirae Asset Focused Fund | −5.2% | 7.3% | 5.1% | −21.0% |
| Mahindra Manulife Focused Fund | −5.6% | 11.6% | 11.7% | −16.5% |
| UTI Focused Fund | −5.7% | 8.8% | 8.5% | −19.3% |
| Canara Robeco Focused Fund | −6.4% | 11.5% | 10.7% | −16.5% |
| Baroda BNP Paribas Focused Fund | −7.4% | 7.7% | — | −22.5% |
| Tata Focused Fund | −7.7% | 8.3% | 8.5% | −19.6% |
| Franklin India Focused Equity Fund | −13.0% | 6.6% | 8.2% | −17.8% |
A dash means the fund is too young for that period. The last column is the largest peak-to-trough fall in NAV over the last three years.
Who led, who lagged
Motilal Oswal Focused Fund led the year at 24.4%, but it also had the deepest fall of the group over three years, −31.3%, which is about 13 points worse than the median fund's −17.8%. A large one-year gain and a large drawdown came from the same concentrated portfolio.
Invesco India Focused Fund has the best three-year record, 20.0% a year, and the second-best five-year at 14.0%. HDFC Focused Fund has the best five-year figure, 16.1% a year, and one of the shallowest three-year falls (−14.0%), though it lost 4.2% over the latest year. SBI Focused Fund had the shallowest fall of all, −12.9%, and finished the year at +8.1%.
At the other end, Franklin India Focused Equity Fund lost 13.0%, 5.3 points worse than Tata Focused Fund above it, and is last on the three-year column too. Six funds lost more than 5.5% in the year.
Against the index
| Price index | 1 year | 3 years a year | 5 years a year |
|---|---|---|---|
| Median focused fund | −1.75% | 11.50% | 10.56% |
| Nifty 500 | −5.92% | 8.48% | 7.31% |
| Nifty 100 | −8.82% | 6.62% | 5.35% |
| Nifty 50 | −10.57% | 4.90% | 4.71% |
Twenty-four of the 28 funds beat the Nifty 500 over one year. Over three years 23 of 27 did, and over five years 20 of 22. The funds that did not: Canara Robeco, Baroda BNP Paribas, Tata and Franklin over a year; Mirae Asset, Baroda BNP Paribas, Tata and Franklin over three; and Axis and Mirae Asset over five.
Two cautions. The indices are price indices, which leave out dividends (the Nifty 500's yield is about 1.3%), while fund NAVs include them; that flatters the funds slightly. And a focused fund is not a Nifty 500 fund, so the comparison shows what an investor in the broad market would have got, not that the funds were managed against it.
The pattern behind the table
The ranking changes with the window. Of the four funds with the best three-year numbers (Invesco, ITI, ICICI Prudential and Motilal Oswal), three are also in the top ten for the latest year, but ICICI Prudential is 16th of 28. Over one year the leaders after Motilal Oswal are Old Bridge, SBI, Quant and HSBC, none of which is in the top five over three years. A concentrated fund can look very different at different dates, which is why a single year says little about a manager.
For how a single fund ranks among its peers, see where a fund ranks among its peers. The screener can filter the Focused category and sort by any of these columns. For a view of how wide the gap between best and worst is in this and other categories, see best minus worst by category.
Frequently asked questions
How have focused funds performed over the last year?
The median focused fund (Direct plan, Growth option) returned -1.75% in the year to 9 October 2026, across 28 funds with a year of history. Eighteen were negative. The range ran from -13.0% (Franklin India Focused Equity Fund) to 24.4% (Motilal Oswal Focused Fund).
What is the three-year return of focused funds?
The median was 11.5% a year across 27 funds, from 6.6% (Franklin India Focused Equity) to 20.0% (Invesco India Focused Fund). Over five years the median was 10.56% a year across 22 funds, with HDFC Focused Fund highest at 16.1%.
Did focused funds beat the market?
Most did. The Nifty 500 price index returned -5.92% over a year, 8.48% a year over three and 7.31% over five. Twenty-four of 28 funds beat it over one year, 23 of 27 over three and 20 of 22 over five. The index is a price index, so it leaves out dividends.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are WealthTicker’s own calculations from public data — AMFI’s fund NAVs and disclosures, NSE’s index and FII/DII files, and the fund houses’ monthly portfolios (how we calculate). They are as of the dates stated and can be revised by their source.
Keep reading
Focused fund returns: 30 stocks, no wider spread
To 16 Sep 2026 the median focused fund returned 11.53% a year over 3 years and flexi caps 10.80%, with a similar spread and volatility.
Banking & PSU debt funds: 4.51% median, October 2026
The median banking and PSU debt fund returned 4.51% in the year to 9 October 2026 and 7.13% a year over three. UTI led at 5.98%; the range was 2.35 points.
Equity savings funds: 2.54% median in a year, October 2026
The median equity savings fund returned 2.54% in the year to 9 October 2026 and 8.23% a year over three. Only two of 23 beat the median arbitrage fund.