If you had invested through SIP or lump sum in a good flexi-cap fund 10 years ago, you could have had a large corpus today. Over the long term, mutual funds have made many investors crorepatis — especially those funds that have held their own in every market cycle. In this story, we will review three flexi-cap funds that have performed the best in the last decade: Quant Flexi-Cap Fund, Parag Parikh Flexi-Cap Fund and JM Flexi-Cap Fund.
But before moving ahead, you should understand what really sets flexi-cap funds apart from other mutual funds? The biggest advantage is flexibility. These funds can invest across large-cap, mid-cap, and small-cap stocks. With flexi-cap funds, fund managers have the freedom to change investment exposure depending on how the market is behaving. This often helps them manage risk better and make the most of emerging opportunities.
Now, coming back to the three funds in focus — Quant Flexi-Cap Fund, Parag Parikh Flexi-Cap Fund, and JM Flexi-Cap Fund — the question is: which one has delivered the best returns over the past 10 years? We’ll break it down for you, looking at both SIP and lump sum returns. Along the way, we’ll also find what sets each of these top-performing flexi-cap funds apart. For analysis, we’ve considered the direct plans of all three funds while reviewing their returns.
1. Quant Flexi Cap Fund
Launched in January 2013, Quant Flexi Cap Fund has delivered a strong return of 19.50% since inception. It tracks the NIFTY 500 TRI as its benchmark and falls under the ‘Very High’ risk category on the riskometer. As of May 2025, the fund manages assets worth Rs 7,153 crore, while maintaining a relatively low expense ratio of 0.61% (as of June 2025).
Returns (CAGR) over 10 years – SIP and Lump sum
Quant Flexi Cap Fund has delivered an SIP return of 22.55% CAGR in the last 10 years, helping investors amass nearly Rs 39.5 lakh during the period from Rs 10,000 monthly contribution. So, effectively Rs 12 lakh invested over a period of 10 years grows more than 3 times.
Likewise, a lump sum investment of Rs 1 lakh in this fund would be worth Rs 6.24 lakh at a CAGR of 20.08% over 10 years.
2. Parag Parikh Flexi Cap Fund
Started in May 2013, Parag Parikh Flexi Cap Fund has delivered a strong CAGR of 20.18%, ahead of many of its peers. It also tracks the NIFTY 500 TRI benchmark and carries a ‘Very High’ risk rating. With assets under management of Rs 1,03,868 crore (as of May 2025), it’s the largest flexi-cap fund in the country. The fund’s expense ratio stands at 0.63%, making it fairly cost-effective for direct plan investors.
Returns (CAGR) over 10 years – SIP and Lump sum
Parag Parikh Flexi Cap Fund has generated an SIP return (CAGR) of 20.98% in the last 10 years. An SIP of Rs 10,000 per month would be worth Rs 36.27 lakh now.
Similarly, a lump sum investment of Rs 1 lakh would have turned into Rs 5.55 lakh after 10 years, growing at a CAGR of 18.68%.
3. JM Flexicap Fund
Launched in January 2013, JM Flexi Cap Fund has delivered a CAGR return of 18.28% since inception, making it a solid performer in the flexi-cap category. It tracks the BSE 500 TRI benchmark and falls under the ‘Very High’ risk category. As of May 2025, the fund manages assets worth Rs 5,917 crore, and with a low expense ratio of just 0.49%, it offers a cost-efficient option for investors seeking long-term capital appreciation.
Returns (CAGR) over 10 years – SIP and Lump sum
The fund has given a CAGR of 20.37% on SIP investments over the last 10 years, turning Rs 10,000 monthly contribution into Rs 35.09 lakh.
Likewise, a lump sum investment of Rs 1 lakh would be worth now Rs 4.37 lakh at a CAGR of 15.90% over the last 10 years.
Quant vs Parag Parikh vs JM: The 10-year return winner
All three — Quant, Parag Parikh, and JM Flexi Cap Funds — have delivered stellar returns over the past 10 years. But if we go purely by numbers, Quant Flexi Cap Fund takes the lead, especially on the SIP front. Parag Parikh and JM Flexi Cap Funds weren’t far behind, offering strong returns as well. For lump sum investors too, Quant again topped the list. Each of these funds follows a different investment style, but they all prove one thing — choosing the right flexi-cap fund and staying invested with discipline can truly pay off in the long run.
Disclaimer:
The returns and performance data mentioned in this article are based on past records and are for informational purposes only. Past performance is not indicative of future results, and mutual fund investments are subject to market risks. Readers are advised to consult a SEBI-registered investment advisor before making any investment decisions. Financial Express Digital does not guarantee any returns and shall not be held responsible for any financial losses incurred based on the information provided in this story.
