The longer you hold, the worse the odds.
Share of active funds that lost to a plain benchmark. India. The higher the number, the more often the index won.
| Active category |
First half 2025 |
Over ten years |
| Large cap funds | 66 | 73 |
| Mid and small cap | 34 | 82 |
| ELSS . tax saver | 69 | 87 |
Look at the middle row. In the first half of this year active mid and small cap funds actually won. Only 34 of 100 lagged the index, their best run since 2014. Stretch the same category to ten years and 82 of 100 lose. A good stretch flatters. Time is the filter.