Large-cap, dividend yield and sectoral mutual funds return to inflows in September 2026; check top-performing schemes
Association of Mutual Funds in India's (AMFI) latest data offers insight into how investor flows changed across equity mutual fund categories in September 2026.
While some categories moved from net outflows in August to net inflows in September, their return performance over different investment horizons varied.
Here is a look at the monthly flows and returns of large-cap, dividend yield and sectoral mutual funds, along with the schemes that led the performance rankings across different periods.
| Equity mutual fund category | August net flows ( ₹ crore) | September net flows ( ₹ crore) | September 2026 month returns | YTD returns | 3-year returns | 5-year returns |
| Large-cap fund | -1,147.36 | 859.47 | -5.83% | -8.96% | 7.97% | 6.75% |
| Dividend yield fund | -133.57 | 179.31 | -4.97% | -6.04% | 10.48% | 10.48% |
| Sectoral fund | -53.19 | 1,840.02 | NA | NA | NA | NA |
*Source: AMFI, Value Research, Morningstar, Category-Avg CAGR as on 13 October 2026; Sectoral fund returns are not presented as a single category average because performance varies across sectors.
Sectoral funds attracted the highest inflows of ₹1,840.02 crore in September 2026, followed by large-cap funds at ₹859.47 crore and dividend yield funds at ₹179.31 crore. In August, large-cap funds saw outflows of ₹1,147.36 crore, while dividend yield and sectoral funds recorded outflows of ₹133.57 crore and ₹53.19 crore, respectively.
However, large-cap funds declined 5.83% in September, taking their year-to-date losses to 8.96% as of 13 October. Dividend yield funds fell 4.97% during the month and were down 6.04% YTD.
| Fund name | YTD Returns (%) | Fund name | 3-year Returns (%) | Fund name | 5-year Returns (%) |
| Taurus Largecap Equity Fund | 3.23 | Taurus Largecap Equity Fund | 13.00 | Nippon India Large Cap Fund | 11.26 |
| Quant Large Cap Fund | 0.56 | Invesco India Large Cap Fund | 12.83 | Invesco India Large Cap Fund | 9.98 |
| Quant Large Cap Fund | 12.26 | Taurus Largecap Equity Fund | 9.60 | ||
| WhiteOak Capital Large Cap Fund | 12.04 | ICICI Prudential Large Cap Fund | 9.57 | ||
| Bandhan Large Cap Fund | 11.66 | Bandhan Large Cap Fund | 9.06 |
*Source: Value Research, Morningstar; Direct plans; CAGR as on 13 October 2026
The large-cap category remained under pressure in September, with no scheme recording positive monthly returns. Only two schemes delivered positive YTD returns.
Taurus Largecap Equity Fund featured among the top five across all three periods, while Bandhan Large Cap Fund appeared in both the three- and five-year lists.
| Fund name | Sep 2026 Month Returns (%) | Fund name | YTD Returns (%) | Fund name | 3-year Returns (%) | Fund name | 5-year Returns (%) |
| WhiteOak Capital Dividend Yield Fund | 0.54 | LIC MF Dividend Yield Fund | 2.99 | LIC MF Dividend Yield Fund | 17.42 | ICICI Prudential Dividend Yield Fund | 14.23 |
| Tata Dividend Yield Fund | 1.78 | ICICI Prudential Dividend Yield Fund | 13.05 | LIC MF Dividend Yield Fund | 13.57 | ||
| Tata Dividend Yield Fund | 12.84 | Tata Dividend Yield Fund | 12.19 | ||||
| UTI Dividend Yield Fund | 11.55 | HDFC Dividend Yield Fund | 11.79 | ||||
| Aditya Birla Sun Life Dividend Yield Fund | 10.07 | Aditya Birla Sun Life Dividend Yield Fund | 11.47 |
Only one dividend yield scheme posted positive returns in September, while two delivered positive YTD returns.
Both LIC MF and Tata Dividend Yield Funds featured in the top five across YTD, three-year and five-year periods. WhiteOak Capital Dividend Yield Fund led September returns but did not feature among the top performers in other periods.
Sectoral funds invest in specific industries, so their performance can vary considerably depending on the sectors they represent. The data lists the following leaders across the one-, three-, and five-year periods.
| Fund name | 1-year Returns (%) | Fund name | 3-year Returns (%) | Fund name | 5-year Returns (%) |
| Kotak Healthcare Fund | 22.47 | HDFC Pharma and Healthcare Fund | 28.84 | SBI Healthcare Opportunities Fund | 17.28 |
| HDFC Pharma and Healthcare Fund | 21.60 | HDFC Transportation and Logistics Fund | 22.20 | UTI Transportation and Logistics Fund | 16.08 |
| SBI Automotive Opportunities Fund | 19.75 | SBI Healthcare Opportunities Fund | 22.05 | DSP Healthcare Fund | 15.18 |
| PGIM India Healthcare Fund | 18.71 | Mirae Asset Healthcare Fund | 21.69 | ICICI Prudential Healthcare Fund | 15.14 |
| WhiteOak Capital Pharma and Healthcare Fund | 16.81 | UTI Healthcare Fund | 21.68 | Mirae Asset Healthcare Fund | 14.93 |
HDFC Pharma and Healthcare Fund featured in the top five across the one-year and three-year periods, while SBI Healthcare Opportunities Fund and Mirae Asset Healthcare Fund appeared in both the three-year and five-year rankings.
For mutual fund investors, the shift in monthly inflows offers a snapshot of changing investor allocations, but it does not necessarily signal a recovery in returns.
The overlap across time periods highlights how some schemes have maintained a presence across multiple investment horizons, although historical returns do not guarantee future performance.
Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.
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