One table, every fund type
The question after a hard year for equities is usually "what held up?". We took every Direct Growth fund with a year-to-date return on 19 October 2026 and found the median for each type. Types with fewer than five funds are left out, and the median is used because a few outliers can pull an average a long way.
| Fund type | Funds | Median 2026 return | Funds positive |
|---|---|---|---|
| Overseas fund of funds | 51 | +14.9% | 48 |
| Small cap | 33 | +10.9% | 32 |
| Credit risk | 12 | +5.6% | 12 |
| Liquid | 52 | +5.2% | 46 |
| Ultra short duration | 26 | +5.2% | 26 |
| Money market | 26 | +5.2% | 26 |
| Arbitrage | 36 | +5.2% | 36 |
| Low duration | 23 | +4.7% | 23 |
| Floating rate | 12 | +4.4% | 12 |
| Medium duration | 12 | +4.3% | 12 |
| Overnight | 43 | +4.1% | 40 |
| Short duration | 22 | +3.7% | 22 |
| Corporate bond | 21 | +3.3% | 21 |
| Gilt | 25 | +1.5% | 24 |
| Equity savings | 23 | +1.0% | 18 |
| Conservative hybrid | 17 | +0.7% | 10 |
| Multi asset allocation | 33 | +0.2% | 18 |
| Mid cap | 31 | +0.2% | 17 |
| Retirement | 29 | −1.8% | 9 |
| Balanced advantage | 36 | −2.0% | 6 |
| Flexi cap | 43 | −3.1% | 13 |
| Aggressive hybrid | 28 | −3.6% | 5 |
| Large cap | 33 | −7.5% | 2 |
| Nifty 50 (price) | −12.4% |
What the table shows
Money held in debt behaved like debt. The shorter debt categories earned between 3.7% and 5.6% in just under ten months; every fund in the ultra short, money market, arbitrage, low duration and short duration categories is positive. The spread within each is narrow. See our debt fund returns by category post for the one, three and five-year figures.
Credit risk is the standout in debt, at +5.6% median, with one fund at +15.9% and the lowest at +4.2%. A higher return in that category reflects credit risk, which is why it exists as a category.
Longer duration was flatter. Gilt funds returned a median 1.5%, with one at −0.8% and another at +6.6%. The long-term category's median is 0.0%. Longer-duration funds are more sensitive to changes in bond yields, which is why their year so far has been flatter than that of short-term funds. Our gilt fund post covers the category.
Hybrids split by their equity share. Arbitrage funds hold hedged equity and have earned like short-term debt (+5.2%). Equity savings and multi-asset funds sit near zero. Balanced advantage (−2.0%) and aggressive hybrids (−3.6%), with more equity, have lost money. Our balanced advantage post goes into that category.
Overseas funds made the most. Part of the +14.9% is the rupee: the dollar is up 5.7% since 31 December. Our overseas funds post breaks the group down.
Gold and silver
Gold in rupees is up about 2.0% this year (₹12,529 to ₹12,782 per gram), and silver is down about 13.0% (₹202.4 to ₹176.1). Both made large gains in January and gave much of them back; the twelve-month post shows the path.
What to take from it
- No single place was safe through every period. Equity falls were partly offset by debt and overseas holdings, but the best fund types this year were not the best last year.
- Median hides the range. Overseas funds range from −4.6% to +45.1%; gilt funds from −0.8% to +6.6%; credit risk funds from +4.2% to +15.9%.
- A year-to-date table has an end date. On a different date the order will differ.
- Past returns do not predict next year's winner. Our post on last year's top-quarter funds shows how often a leader does not repeat.
Funds are compared on Direct Growth NAV returns from 31 December 2025 to 19 October 2026. Funds launched in 2026 have no year-to-date figure and are left out. Nothing here is a recommendation to buy, sell or switch.
Frequently asked questions
Which fund types have made money in 2026?
To 19 October 2026, the median overseas fund of funds is up 14.9%, the median small cap fund 10.9%, credit risk funds 5.6%, and liquid, ultra short, money market and arbitrage funds about 5.2%. Median gilt funds are up 1.5%.
Which fund types are down in 2026?
The median aggressive hybrid fund is −3.6%, the median flexi cap −3.1%, balanced advantage −2.0%, retirement funds −1.8% and large cap funds −7.5%. The Nifty 50 is down 12.4%.
Did debt funds protect investors?
Short-duration debt categories did what they usually do, earning about 4% to 5.6% across the year so far. Longer-duration categories were flatter: gilt funds a median 1.5%, long-term funds 0.0%. In every debt category with at least five funds, most funds are positive.
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.
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