Best Flexi Cap Funds to Invest in India in October 2026
What are flexi cap funds?
A flexi cap fund is an equity mutual fund that can invest across large, mid and small companies, with no fixed split between them. SEBI requires it to keep at least 65% of its assets in equity and equity-related instruments; the rest can sit in debt or cash.
The fund manager decides how much to hold in each size of company and can change the mix as markets move. That freedom is what sets a flexi cap fund apart from a large cap, mid cap or small cap fund, which must keep a minimum share in one size of company, and from a multi cap fund, which must keep at least 25% in each of large, mid and small companies.
- Total funds
- 39
- Category fund size
- ₹6.12 lakh crore
- Average 1-year return
- 2.06%
- Average 3-year return
- 11.62%
Direct plans, as of 30 September 2026
Top flexi cap funds to invest in India in October 2026
These are 10 flexi cap funds for this month, shown in no particular order. Their ranks are available only in the Blacklitt app: tap a fund to see its rank.
| Fund | 1Y return | 3Y return | Expense ratio | Fund size |
|---|---|---|---|---|
 ICICI Prudential Flexi Cap FundRank: App exclusive | 4.01% | 15.16% | 0.65% | ₹25,895 Cr |
 HDFC Flexi Cap FundRank: App exclusive | −1.08% | 14.57% | 0.57% | ₹1,13,606 Cr |
 Edelweiss Flexi Cap FundRank: App exclusive | −0.10% | 13.25% | 0.47% | ₹3,722 Cr |
 Bajaj Finserv Flexi Cap FundRank: App exclusive | 5.59% | 15.89% | 0.47% | ₹8,655 Cr |
 Parag Parikh Flexi Cap FundRank: App exclusive | −3.54% | 12.23% | 0.53% | ₹1,47,405 Cr |
 ITI Flexi Cap FundRank: App exclusive | 13.02% | 17.98% | 0.53% | ₹1,588 Cr |
 Mirae Asset Flexi Cap FundRank: App exclusive | 2.21% | 11.51% | 0.43% | ₹4,506 Cr |
 WhiteOak Capital Flexi Cap FundRank: App exclusive | 2.82% | 13.71% | 0.47% | ₹9,595 Cr |
 Axis Flexi Cap FundRank: App exclusive | 4.41% | 13.21% | 0.62% | ₹13,943 Cr |
 Bank Of India Flexi Cap FundRank: App exclusive | 11.38% | 18.41% | 0.48% | ₹2,953 Cr |
Flexi cap funds returns calculator
See what an investment in one of these funds would have grown to. Choose a fund, a monthly SIP or a one-time lumpsum, an amount and a period.
Between ₹500 and ₹1,00,000.
- Invested
- Worth
- Total investment
- ₹6,00,000
- Profit
- ₹2,54,356
- Current value
- ₹8,54,356
This fund has generated an XIRR of 14.09% over the past 5 years.
See this fund in the appYear-by-year numbers
| Year | Invested | Worth |
|---|---|---|
| 1 | ₹1,20,000 | ₹1,27,702 |
| 2 | ₹2,40,000 | ₹2,88,825 |
| 3 | ₹3,60,000 | ₹5,80,470 |
| 4 | ₹4,80,000 | ₹7,02,506 |
| 5 | ₹6,00,000 | ₹8,54,356 |
Details of the funds on this list
Let's take a closer look at these funds.
ICICI Prudential Flexi Cap Fund
- Fund Performance
- The ICICI Prudential Flexi Cap Fund has given 15.16% annualised returns in the past three years and 14.38% in the last five years. In the past year it has returned 4.01%.
- Minimum Investment Amount
- The minimum amount required to invest in ICICI Prudential Flexi Cap Fund via lump sum is ₹500 and via SIP is ₹100.
- Expense Ratio and Fund Size
- The direct plan of ICICI Prudential Flexi Cap Fund charges an expense ratio of 0.65% a year, and the fund's size is ₹25,895 Cr.
HDFC Flexi Cap Fund
- Fund Performance
- The HDFC Flexi Cap Fund has given 14.57% annualised returns in the past three years and 15.68% in the last five years. In the past year it has returned −1.08%.
- Minimum Investment Amount
- The minimum amount required to invest in HDFC Flexi Cap Fund via lump sum is ₹100 and via SIP is ₹100.
- Expense Ratio and Fund Size
- The direct plan of HDFC Flexi Cap Fund charges an expense ratio of 0.57% a year, and the fund's size is ₹1,13,606 Cr.
Edelweiss Flexi Cap Fund
- Fund Performance
- The Edelweiss Flexi Cap Fund has given 13.25% annualised returns in the past three years and 11.87% in the last five years. In the past year it has returned −0.10%.
- Minimum Investment Amount
- The minimum amount required to invest in Edelweiss Flexi Cap Fund via lump sum is ₹100 and via SIP is ₹100.
- Expense Ratio and Fund Size
- The direct plan of Edelweiss Flexi Cap Fund charges an expense ratio of 0.47% a year, and the fund's size is ₹3,722 Cr.
Bajaj Finserv Flexi Cap Fund
- Fund Performance
- The Bajaj Finserv Flexi Cap Fund has given 15.89% annualised returns in the past three years. In the past year it has returned 5.59%.
- Minimum Investment Amount
- The minimum amount required to invest in Bajaj Finserv Flexi Cap Fund via lump sum is ₹500 and via SIP is ₹500.
- Expense Ratio and Fund Size
- The direct plan of Bajaj Finserv Flexi Cap Fund charges an expense ratio of 0.47% a year, and the fund's size is ₹8,655 Cr.
Parag Parikh Flexi Cap Fund
- Fund Performance
- The Parag Parikh Flexi Cap Fund has given 12.23% annualised returns in the past three years and 11.15% in the last five years. In the past year it has returned −3.54%.
- Minimum Investment Amount
- The minimum amount required to invest in Parag Parikh Flexi Cap Fund via lump sum is ₹1,000 and via SIP is ₹1,000.
- Expense Ratio and Fund Size
- The direct plan of Parag Parikh Flexi Cap Fund charges an expense ratio of 0.53% a year, and the fund's size is ₹1,47,405 Cr.
ITI Flexi Cap Fund
- Fund Performance
- The ITI Flexi Cap Fund has given 17.98% annualised returns in the past three years. In the past year it has returned 13.02%.
- Minimum Investment Amount
- The minimum amount required to invest in ITI Flexi Cap Fund via lump sum is ₹5,000 and via SIP is ₹500.
- Expense Ratio and Fund Size
- The direct plan of ITI Flexi Cap Fund charges an expense ratio of 0.53% a year, and the fund's size is ₹1,588 Cr.
Mirae Asset Flexi Cap Fund
- Fund Performance
- The Mirae Asset Flexi Cap Fund has given 11.51% annualised returns in the past three years. In the past year it has returned 2.21%.
- Minimum Investment Amount
- The minimum amount required to invest in Mirae Asset Flexi Cap Fund via lump sum is ₹5,000 and via SIP is ₹99.
- Expense Ratio and Fund Size
- The direct plan of Mirae Asset Flexi Cap Fund charges an expense ratio of 0.43% a year, and the fund's size is ₹4,506 Cr.
WhiteOak Capital Flexi Cap Fund
- Fund Performance
- The WhiteOak Capital Flexi Cap Fund has given 13.71% annualised returns in the past three years. In the past year it has returned 2.82%.
- Minimum Investment Amount
- The minimum amount required to invest in WhiteOak Capital Flexi Cap Fund via lump sum is ₹500 and via SIP is ₹100.
- Expense Ratio and Fund Size
- The direct plan of WhiteOak Capital Flexi Cap Fund charges an expense ratio of 0.47% a year, and the fund's size is ₹9,595 Cr.
Axis Flexi Cap Fund
- Fund Performance
- The Axis Flexi Cap Fund has given 13.21% annualised returns in the past three years and 8.38% in the last five years. In the past year it has returned 4.41%.
- Minimum Investment Amount
- The minimum amount required to invest in Axis Flexi Cap Fund via lump sum is ₹100 and via SIP is ₹100.
- Expense Ratio and Fund Size
- The direct plan of Axis Flexi Cap Fund charges an expense ratio of 0.62% a year, and the fund's size is ₹13,943 Cr.
Bank Of India Flexi Cap Fund
- Fund Performance
- The Bank Of India Flexi Cap Fund has given 18.41% annualised returns in the past three years and 16.42% in the last five years. In the past year it has returned 11.38%.
- Minimum Investment Amount
- The minimum amount required to invest in Bank Of India Flexi Cap Fund via lump sum is ₹5,000 and via SIP is ₹1,000.
- Expense Ratio and Fund Size
- The direct plan of Bank Of India Flexi Cap Fund charges an expense ratio of 0.48% a year, and the fund's size is ₹2,953 Cr.
How do flexi cap funds work?
A mutual fund pools money from many investors and a fund manager invests it. In a flexi cap fund, the manager buys shares of companies of any size, so the fund's value follows how those shares perform.
You buy units of the fund at its net asset value (NAV), the price of one unit, which is worked out at the end of each trading day. When the shares in the portfolio rise, the NAV rises, and when they fall, the NAV falls.
Because the manager chooses the mix, a flexi cap fund can lean towards large companies when the manager sees more risk, and towards mid or small companies when the manager sees more opportunity. How well that works depends on the manager's judgement, and a fund's mix today may not be its mix next year.
Every fund has an expense ratio, a yearly fee charged as a percentage of its assets. A direct plan has a lower expense ratio than the regular plan of the same fund, because it does not pay a distributor. Many funds also charge an exit load if you sell within a set period, often a year, so check the scheme document before you invest.
Who should invest in flexi cap funds?
Whether a flexi cap fund fits you depends on how its benefits and its risks sit with your goals, your time horizon and your comfort with falls.
Benefits of flexi cap funds
- One fund that spreads across large, mid and small companies, so you do not have to choose the sizes yourself.
- The manager can shift between company sizes as conditions change, without you having to sell and switch.
- Diversification across many companies and sectors.
- A professional fund manager picks and monitors the stocks, and you can start with a small amount through a SIP or a lumpsum.
Risks of flexi cap funds
- Equity risk: a flexi cap fund can fall sharply in a market downturn and can take years to recover.
- The result depends on the manager's choices. A flexi cap fund can hold more mid and small companies than you expect, which can make it more volatile than its name suggests.
- The mix is not fixed, so check the fund's latest factsheet to see what it holds now.
- Returns are not guaranteed, and a fund that did well in the past may not do so again.
In short, a flexi cap fund gives you broad equity exposure and leaves the choice of company size to the manager. That suits investors who want one diversified fund and accept that the manager's choices, and the equity market, can go against them for a while.
Who flexi cap funds may suit
- Investors with a time horizon of five years or more, because the time gives the fund a chance to recover from falls.
- Investors who want a single diversified equity fund, not a set of separate large, mid and small cap funds.
- Investors who can handle swings in value without selling in a fall, and so can stay invested long enough to benefit.
Who should be careful
- Investors who need the money within a few years, because a fall close to the time they need it may not have time to recover.
- Investors who would be uncomfortable seeing their investment fall by a large amount.
- Investors who want to decide the split between large, mid and small companies themselves. Separate category funds give that control.
Taxation on flexi cap funds
A flexi cap fund is an equity-oriented fund, because it keeps at least 65% of its assets in listed Indian shares. Your gains are taxed as capital gains, depending on how long you hold the units.
- Short-term capital gains (STCG): if you sell within 12 months, the gain is taxed at 20%.
- Long-term capital gains (LTCG): if you sell after more than 12 months, gains up to ₹1.25 lakh in a financial year are tax-free. Gains above that are taxed at 12.5%.
The ₹1.25 lakh limit applies to all your equity fund and share sales in the year together, not to each fund. Each SIP instalment has its own purchase date, so when you sell, the older instalments are treated as sold first.
Tax rules can change, so check the current rules or ask a tax adviser before you sell.
Frequently asked questions
Are flexi cap funds a good investment?
Flexi cap funds can suit investors who want one diversified equity fund and can stay invested for five years or more. They carry equity risk, and the result depends on the manager's choices, so whether one is right for you depends on your goals, your horizon and how you would react to a fall.
What is the difference between a flexi cap fund and a multi cap fund?
Both invest across company sizes. A multi cap fund must keep at least 25% each in large, mid and small companies, while a flexi cap fund has no minimum for any size, so its manager decides the mix. Both must keep a large share of their assets in equity.
Are flexi cap funds risky?
Yes. Flexi cap funds invest mainly in shares, so they can fall sharply in a downturn and may take a long time to recover. How risky a particular fund is depends on the mix its manager holds, which can change, so check its latest factsheet.
How long should I stay invested in a flexi cap fund?
Flexi cap funds are generally considered for a horizon of five years or more. A longer period gives the fund more time to recover from falls.
Is a SIP or a lumpsum better for flexi cap funds?
A SIP spreads your purchases across many months, so you do not put everything in at one price. This can smooth out the effect of a volatile market. A lumpsum invests everything at once. Neither is always better, and the returns calculator above lets you compare how each would have turned out for a fund in the past.
How do flexi cap funds differ from large cap and mid cap funds?
A large cap fund must keep at least 80% of its assets in the 100 largest companies, and a mid cap fund at least 65% in mid cap companies. A flexi cap fund has no such minimum for any one size, so it can hold any mix of them.
How are flexi cap funds taxed?
They are taxed as equity funds: 20% on gains from units sold within 12 months, and 12.5% on gains above ₹1.25 lakh in a financial year from units sold after 12 months.
Which is the best flexi cap fund?
There is no single best fund for everyone. The list above shows 10 flexi cap funds in no particular order. To see their ranks, open the Blacklitt app.
Disclaimer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
The funds on this page are shown for information and education, with figures as of 30 September 2026. Past performance does not indicate future returns. This is not personalised investment advice or a recommendation to buy or sell any fund, so check that a fund suits your own goals, time horizon and risk appetite, or speak to an adviser, before you invest.
Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
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