Actively managed mid-cap funds have also started to underperform their benchmark indices more consistently than ever before. An ET Wealth analysis of midcap fund returns shows that only 18% have outperformed across the 3-year,5-year, and 10-year periods ending between September 2023 and May 2025, compared with 65% until 2019. (Source: ET Wealth)
Is the smallcap rally a trap? Only 37% of stocks are outperforming their benchmark
India’s recent smallcap surge indicates that less stock is outpacing the benchmark index, revealing a narrowing group of successful stocks boosting overall returns. Conversely, largecap
August 25, 2026