A fund's own record
The Nifty 50 is 13.8% below the 2,632-point peak it set on 2 January 2026, and our year-to-date post shows that. Funds are a different thing: each has its own mix of stocks, so each has its own record date and its own distance from it.
We took every direct-growth, open-ended equity fund in WealthTicker (ETFs and side-pocketed schemes excluded, and the lower-coded IDCW twin of a duplicate name left out) that had a NAV for 21 or 22 October 2026: 581 funds. For each, we found its highest NAV in the full history and compared the latest NAV with it.
Not one is at a record
No fund was at its record NAV. The spread:
| Distance below record NAV | Funds | Share |
|---|---|---|
| Within 5% | 12 | 2% |
| 5% to 10% | 310 | 53% |
| 10% to 20% | 249 | 43% |
| More than 20% | 10 | 2% |
The median fund is 9.7% below its record. The closest is 1.3% below. The furthest, a sectoral fund, is 32.1% below.
By category
| Category | Funds | Median below record | Closest | Furthest |
|---|---|---|---|---|
| Sectoral/Thematic | 255 | -10.4% | -1.3% | -32.1% |
| Flexi Cap | 46 | -8.4% | -3.2% | -21.4% |
| ELSS | 37 | -10.0% | -7.2% | -19.8% |
| Small Cap | 36 | -8.8% | -6.2% | -16.3% |
| Large & Mid Cap | 36 | -9.1% | -7.0% | -17.1% |
| Large Cap | 35 | -10.1% | -3.4% | -15.8% |
| Mid Cap | 34 | -10.4% | -6.4% | -16.9% |
| Multi Cap | 33 | -8.9% | -5.2% | -13.3% |
| Focused | 28 | -9.5% | -5.3% | -17.1% |
| Value | 24 | -9.8% | -4.2% | -16.8% |
| Dividend Yield | 12 | -10.3% | -2.5% | -13.7% |
| Contra | 5 | -9.2% | -1.5% | -10.8% |
The medians sit in a narrow band, between 8.4% and 10.4% below. The wide ranges are in sectoral and thematic funds: 255 funds spanning 31 points from nearest to furthest, against 6 points in Multi Cap.
Mid caps and small caps are not far from large caps in this table, which would surprise anyone who expects a 2026 fall to hit them harder. The reason is when their records were set.
When the records were set
| Record NAV date | Funds |
|---|---|
| August 2026 | 253 |
| September 2024 | 94 |
| September 2026 | 66 |
| January 2026 | 52 |
| February 2026 | 30 |
| December 2024 | 15 |
In all, 430 of 581 (74%) set their record in 2026 and 151 (26%) earlier. The single busiest date was 31 August 2026, when 75 funds peaked, followed by 27 September 2024 (37 funds), 2 January 2026 (36), 23 September 2026 (32) and 25 August 2026 (30).
The category split explains the narrow band. Of 34 Mid Cap funds, 31 peaked in August or September 2026, and so did 31 of 36 Small Cap and 28 of 33 Multi Cap funds. Only 6 of 35 Large Cap funds did; they mostly peaked at the January 2026 high or back in September 2024. The Nifty Midcap 150 reached its own 2026 high of 23,539.4 on 13 August and is 10.7% below it now. Mid- and small-cap funds are therefore measured against a more recent peak and have had less time to fall, while large caps are measured against a high that is nearly ten months old.
What a "distance from record" does and does not tell you
- It is a snapshot. A fund 8% below its record today could be 15% below next month, or at a new high. The figure describes where it stands on one date.
- Records favour older funds. A fund launched in 2025 has a short history, so its record is likely recent and the distance small. A fund from 2008 carries a longer yardstick.
- It says nothing about quality. Two funds with identical distances can have very different returns over three or five years. For that use the screener, which shows each fund's returns over several periods and its past drawdowns.
For funds already at the low end of their year, see equity funds at 52-week lows in September. This is a description of NAVs as of the dates shown and is not a prediction.
Frequently asked questions
How far are equity funds from their record NAV in October 2026?
Of 581 direct-growth, open-ended equity funds with NAVs for 21–22 October 2026, none was at its all-time high. Twelve were within 5%, 310 were 5–10% below, 249 were 10–20% below and 10 were more than 20% below. The median was 9.7% below.
When did most equity funds set their record NAV?
430 of the 581 set it in 2026. The largest single date is 31 August 2026 (75 funds), and 253 funds peaked in August as a whole. 151 funds' record is older, with 27 September 2024 the most common of those (37 funds).
Which categories are closest to their highs?
By median distance from record NAV, Flexi Cap is closest of the large categories at 8.4% below, then Small Cap (8.8%) and Multi Cap (8.9%). Mid Cap (10.4%) and Large Cap (10.1%) are furthest among the six we show.
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
Not one of 528 equity funds is at a record NAV right now
On 13–14 October 2026 the median equity fund sat 7.2% below its highest NAV; 223 set that peak in August 2026 and 72 of them on 31 August alone.
Twenty years of equity funds: 98 with a full record
98 equity funds have NAVs back to April 2006. Median returns by category since then run from 10.8% (large-cap) to 14.4% (small-cap), before survivorship.
Top 15 equity funds by 5-year SIP return, October 2026
A ₹10,000 monthly SIP for five years earned up to 20.89% a year in Bandhan Small Cap Fund. The top 15 equity funds and the best in each category.