Best Performing Large Cap Mutual Funds in June 2026

A data driven ranking of 35 direct growth large cap schemes, based on fund data last updated 21 June 2026

Large cap mutual funds invest predominantly in the top 100 companies by market capitalisation listed on Indian exchanges. SEBI mandates that these funds hold at least 80% of their assets in large cap stocks, making them one of the more predictable and lower volatility equity categories available to Indian investors.

Because the universe of eligible stocks is tightly defined, the differences between funds come down mostly to stock selection within that constrained universe, expense management, and manager discipline rather than bold allocation calls.

This article analyses 35 direct growth large cap schemes using data as of 21 June 2026, focusing on the funds that have delivered the strongest returns, the best risk adjusted outcomes, and the most competitive costs. All numbers are sourced directly from the fund data set.

How These Funds Were Ranked

The rankings use two separate horizons, 3 year and 5 year annualised returns, shown side by side so investors can judge performance over whichever period matches their own investment timeline. Of the 35 funds in the data set, 30 have a 3 year return and 27 have a 5 year return. Funds too new to have either metric appear in the full reference table at the end. Expense ratio, AUM, and 3 year Sharpe ratio are included throughout for a fuller picture.

Top 10 Large Cap Funds: 3 Year vs 5 Year Rankings

The two leaderboards below reflect the same category over different time windows. Some funds appear near the top of both lists, which is a stronger signal of consistent quality than a high rank on a single horizon alone.

Ranked by 3 Year Annualised Return

Rank	Fund	3Y Return	5Y Return	Expense Ratio	AUM	Sharpe
1	Quant Large Cap Fund	17.04%	NA*	0.49%	₹3,281.16 Cr	0.67
2	Bank of India Large Cap Fund	15.87%	NA*	0.82%	₹212.60 Cr	0.60
3	Invesco India Largecap Fund	15.74%	14.46%	0.67%	₹1,748.94 Cr	0.60
4	WhiteOak Capital Large Cap Fund	15.14%	NA*	0.52%	₹1,170.63 Cr	0.64
5	Nippon India Large Cap Fund	15.03%	16.38%	0.58%	₹51,660.30 Cr	0.62
6	Bandhan Large Cap Fund	14.65%	13.09%	0.76%	₹2,000.94 Cr	0.56
7	ICICI Prudential Large Cap Fund	14.56%	14.13%	0.72%	₹76,296.98 Cr	0.61
8	Baroda BNP Paribas Large Cap Fund	14.37%	13.14%	0.67%	₹2,550.08 Cr	0.57
9	DSP Large Cap Fund	14.34%	11.80%	0.72%	₹7,175.42 Cr	0.60
10	JM Large Cap Fund	13.42%	12.84%	0.82%	₹415.75 Cr	0.50

NA* indicates the fund does not yet have sufficient track record for a 5 year return. 30 of the 35 funds in the data set have a 3 year return.

Ranked by 5 Year Annualised Return

Rank	Fund	5Y Return	3Y Return	Expense Ratio	AUM	Sharpe
1	Nippon India Large Cap Fund	16.38%	15.03%	0.58%	₹51,660.30 Cr	0.62
2	Invesco India Largecap Fund	14.46%	15.74%	0.67%	₹1,748.94 Cr	0.60
3	ICICI Prudential Large Cap Fund	14.13%	14.56%	0.72%	₹76,296.98 Cr	0.61
4	Baroda BNP Paribas Large Cap Fund	13.14%	14.37%	0.67%	₹2,550.08 Cr	0.57
5	Bandhan Large Cap Fund	13.09%	14.65%	0.76%	₹2,000.94 Cr	0.56
6	HDFC Large Cap Fund	13.03%	12.22%	0.99%	₹37,808.31 Cr	0.42
7	JM Large Cap Fund	12.84%	13.42%	0.82%	₹415.75 Cr	0.50
8	Edelweiss Large Cap Fund	12.59%	12.48%	0.67%	₹1,421.67 Cr	0.46
9	Tata Large Cap Fund	12.33%	12.89%	0.83%	₹2,681.70 Cr	0.48
10	SBI Large Cap Fund	12.23%	11.63%	0.79%	₹53,527.40 Cr	0.40

27 of the 35 funds in the data set have a 5 year return. The remaining 8 were launched too recently.

Five funds appear in the top 10 of both tables: Nippon India Large Cap Fund, Invesco India Largecap Fund, ICICI Prudential Large Cap Fund, Baroda BNP Paribas Large Cap Fund, and Bandhan Large Cap Fund. Consistent top 10 placement across two different time horizons is a more reliable quality signal than strong performance on any single metric.

A Closer Look at the Top Performers

1. Quant Large Cap Fund: Leads the 3 Year Table

Quant Large Cap Fund tops the 3 year rankings with a 17.04% annualised return, the highest in the category by a notable margin, and also carries the highest Sharpe ratio (0.67) among all 35 funds in the data set. Its expense ratio of 0.49% is competitive. However, the fund does not yet have a 5 year track record, which means there is less historical data to assess how the strategy performs across different market cycles. The AUM of Rs 3,281.16 Cr is mid sized for the category, giving the manager sufficient but not excessive scale.

2. Bank of India Large Cap Fund: High Return, Small Scale

Bank of India Large Cap Fund ranks second on 3 year returns at 15.87% but has a very small AUM of Rs 212.60 Cr. Like Quant, it has no 5 year track record. Investors considering this fund should weigh the strong short term numbers against the limited history and the liquidity considerations that come with a smaller fund size.

3. Invesco India Largecap Fund: Most Consistent Across Both Horizons

Of all the funds that rank in the top 5 on the 3 year table, Invesco India Largecap Fund is the only one that also places in the top 3 of the 5 year table, with a 15.74% 3 year return and a 14.46% 5 year return. That consistency across both periods, combined with an AUM of Rs 1,748.94 Cr and a Sharpe ratio of 0.60, makes it one of the more well rounded options in the category.

4. Nippon India Large Cap Fund: Best 5 Year Return and Significant Scale

Nippon India Large Cap Fund leads the 5 year rankings at 16.38% and is the only fund in the data set to top one of the two horizon tables while also carrying an AUM above Rs 50,000 Cr. Its 3 year return of 15.03% and Sharpe ratio of 0.62 confirm that its long term strength has not been achieved at the cost of recent performance. At Rs 51,660.30 Cr in AUM, it is one of the three largest funds in the category and carries a 0.58% expense ratio.

5. ICICI Prudential Large Cap Fund: Scale and Consistency

With Rs 76,296.98 Cr in AUM, ICICI Prudential Large Cap Fund is the single largest fund in this data set. It ranks 7th by 3 year return (14.56%) and 3rd by 5 year return (14.13%), demonstrating that its size has not meaningfully constrained its ability to outperform across time horizons. A Sharpe ratio of 0.61 reflects solid risk adjusted outcomes. For investors who place weight on institutional scale and long track records, this fund stands out.

Best Risk Adjusted Returns: Highest Sharpe Ratio

The Sharpe ratio measures return generated per unit of risk. A higher score means the fund delivered more return relative to the volatility its investors experienced.

Fund	3Y Sharpe Ratio	3Y Return
Quant Large Cap Fund	0.67	17.04%
WhiteOak Capital Large Cap Fund	0.64	15.14%
Nippon India Large Cap Fund	0.62	15.03%
ICICI Prudential Large Cap Fund	0.61	14.56%
Invesco India Largecap Fund	0.60	15.74%

WhiteOak Capital Large Cap Fund deserves a separate mention here. It ranks 4th by 3 year return (15.14%) and has the second best Sharpe ratio in the category (0.64), suggesting it has delivered strong returns with relatively controlled volatility. The fund does not yet have a 5 year track record, but its risk adjusted profile over 3 years is one of the better ones in this data set.

Lowest Cost Large Cap Funds

In a category where most funds hold overlapping large cap stocks, cost control can have a meaningful impact on long term net returns.

Fund	Expense Ratio	3Y Return
Parag Parikh Large Cap Fund	0.14%	NA*
Canara Robeco Large Cap Fund	0.46%	12.38%
Quant Large Cap Fund	0.49%	17.04%
Mirae Asset Large Cap Fund	0.49%	11.15%
JioBlackRock Large Cap Fund	0.50%	NA*

NA* indicates the fund does not yet have sufficient track record for a 3 year return.

Parag Parikh Large Cap Fund has by far the lowest expense ratio in the category at 0.14%, well below all peers. The fund was launched recently and does not yet have a 3 year or 5 year track record, so return based comparisons are not yet possible. Investors with a long term horizon who prioritise cost efficiency may want to monitor it as its track record builds. Among funds with established performance, Canara Robeco Large Cap Fund at 0.46% and Quant Large Cap Fund at 0.49% offer the best combination of low cost and proven returns.

The Largest Large Cap Funds by AUM

The five largest funds in the category together manage over Rs 2,55,000 Cr in assets, representing a significant share of the entire large cap category.

Fund	AUM	3Y Return	5Y Return
ICICI Prudential Large Cap Fund	₹76,296.98 Cr	14.56%	14.13%
SBI Large Cap Fund	₹53,527.40 Cr	11.63%	12.23%
Nippon India Large Cap Fund	₹51,660.30 Cr	15.03%	16.38%
HDFC Large Cap Fund	₹37,808.31 Cr	12.22%	13.03%
Mirae Asset Large Cap Fund	₹37,692.41 Cr	11.15%	10.61%

Of the five largest funds, Nippon India Large Cap Fund and ICICI Prudential Large Cap Fund stand out for combining substantial scale with returns that rank in the top 10 on both 3 year and 5 year horizons. SBI Large Cap Fund and HDFC Large Cap Fund are large and established but rank in the lower half of the 3 year return table. Mirae Asset Large Cap Fund has the most modest returns among the five largest, with an 11.15% 3 year return and a 10.61% 5 year return.

What These Funds Actually Hold

Because SEBI mandates at least 80% allocation to large cap stocks, the portfolios of these funds are structurally similar. Private sector banks dominate the top holdings across almost every fund in this data set, with HDFC Bank, ICICI Bank, and Reliance Industries appearing in the top 3 positions for the majority of schemes. Infosys, Larsen and Toubro, Bharti Airtel, and ITC also appear frequently in the top 5.

The result is that differences in performance between funds often come down to the remaining 20% allocation and the relative weightings within the large cap universe rather than dramatically different stock picks.

Funds with higher 3 year returns, such as Quant Large Cap Fund and Invesco India Largecap Fund, tend to run portfolios with higher concentration in their top 10 holdings and more deliberate sector tilts rather than spreading assets evenly across the Nifty 100 universe.

Things to Consider Before Investing

• Large cap funds are constrained by their mandate. Unlike flexi cap funds, the fund manager cannot meaningfully increase exposure to mid cap or small cap stocks to chase returns. Performance differences between funds are therefore narrower on average, and selecting for cost and consistency matters more than in less constrained categories.

• Track record length matters in this analysis. Three of the top 5 funds by 3 year return do not yet have 5 year track records, including the top ranked Quant Large Cap Fund and second ranked Bank of India Large Cap Fund. Strong short term numbers without a longer history should be interpreted with caution.

• AUM scale varies enormously. The data set includes funds ranging from Rs 38 Cr (JioBlackRock) to Rs 76,296 Cr (ICICI Prudential). Smaller funds may have more flexibility in portfolio construction but can also carry higher liquidity and concentration risk.

• Expense ratios are relatively tightly clustered. Most funds in this category charge between 0.46% and 0.99% for direct plans, with the exception of Taurus Largecap Equity Fund at 1.89% and Parag Parikh at 0.14%. Over a 10 year horizon, even a 0.3% cost difference compounds to a meaningful gap in net returns.

• Funds appearing in both top 10 tables deserve the most weight. Invesco India Largecap Fund, Nippon India Large Cap Fund, ICICI Prudential Large Cap Fund, Baroda BNP Paribas Large Cap Fund, Bandhan Large Cap Fund, and JM Large Cap Fund all appear in the top 10 on both the 3 year and 5 year rankings.

Full Fund Universe: Quick Reference

Fund	3Y Return	5Y Return	Expense Ratio	AUM
Quant Large Cap Fund	17.04%	NA*	0.49%	₹3,281.16 Cr
Bank of India Large Cap Fund	15.87%	NA*	0.82%	₹212.60 Cr
Invesco India Largecap Fund	15.74%	14.46%	0.67%	₹1,748.94 Cr
WhiteOak Capital Large Cap Fund	15.14%	NA*	0.52%	₹1,170.63 Cr
Nippon India Large Cap Fund	15.03%	16.38%	0.58%	₹51,660.30 Cr
Bandhan Large Cap Fund	14.65%	13.09%	0.76%	₹2,000.94 Cr
ICICI Prudential Large Cap Fund	14.56%	14.13%	0.72%	₹76,296.98 Cr
Baroda BNP Paribas Large Cap Fund	14.37%	13.14%	0.67%	₹2,550.08 Cr
DSP Large Cap Fund	14.34%	11.80%	0.72%	₹7,175.42 Cr
JM Large Cap Fund	13.42%	12.84%	0.82%	₹415.75 Cr
Taurus Largecap Equity Fund	13.16%	10.70%	1.89%	₹50.56 Cr
Kotak Large Cap Fund	12.99%	11.96%	0.65%	₹10,516.39 Cr
Groww Large Cap Fund	12.93%	11.80%	1.12%	₹128.83 Cr
Tata Large Cap Fund	12.89%	12.33%	0.83%	₹2,681.70 Cr
HSBC Large Cap Fund	12.49%	11.28%	1.02%	₹1,758.08 Cr
Edelweiss Large Cap Fund	12.48%	12.59%	0.67%	₹1,421.67 Cr
ITI Large Cap Fund	12.46%	10.88%	0.69%	₹361.32 Cr
Canara Robeco Large Cap Fund	12.38%	11.47%	0.46%	₹16,328.53 Cr
HDFC Large Cap Fund	12.22%	13.03%	0.99%	₹37,808.31 Cr
Aditya Birla Sun Life Large Cap Fund	11.95%	11.77%	0.81%	₹28,640.28 Cr
Franklin India Large Cap Fund	11.89%	9.84%	0.94%	₹7,145.03 Cr
Mahindra Manulife Large Cap Fund	11.80%	11.12%	0.63%	₹686.91 Cr
SBI Large Cap Fund	11.63%	12.23%	0.79%	₹53,527.40 Cr
Mirae Asset Large Cap Fund	11.15%	10.61%	0.49%	₹37,692.41 Cr
Union Largecap Fund	10.75%	10.31%	1.34%	₹436.36 Cr
Sundaram Large Cap Fund	10.45%	10.89%	0.73%	₹3,000.75 Cr
Axis Large Cap Fund	10.17%	8.14%	0.75%	₹30,004.62 Cr
UTI Large Cap Fund	9.83%	9.42%	1.17%	₹11,852.52 Cr
LIC MF Large Cap Fund	9.72%	9.13%	0.86%	₹1,330.22 Cr
PGIM India Large Cap Fund	9.57%	8.96%	0.90%	₹534.93 Cr
Bajaj Finserv Large Cap Fund	NA*	NA*	0.52%	₹1,471.25 Cr
Samco Large Cap Fund	NA*	NA*	0.83%	₹108.66 Cr
JioBlackRock Large Cap Fund	NA*	NA*	0.50%	₹38.04 Cr
Motilal Oswal Large Cap Fund	NA*	NA*	0.79%	₹3,117.25 Cr
Parag Parikh Large Cap Fund	NA*	NA*	0.14%	₹739.03 Cr

NA* indicates insufficient track record for this metric, typically funds launched between 2022 and 2025.

This article is based on fund data as of 21 June 2026 and is intended for informational purposes only and is not investment advice. Mutual fund investments are subject to market risks and past performance does not guarantee future returns. Investors should read all scheme related documents carefully and consult a SEBI registered financial advisor before investing.

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