When investors look for mutual funds, the natural tendency is to focus on short-term charts. But wealth creation is not a 1-year or 2-year story; it is a journey that plays out across full market cycles. That is why evaluating performance over long terms like 10, 15 and even 20 years gives a better picture. Long-term performances reflect how funds behave during bull runs, crashes, slowdowns and recoveries.
When examining the long-term performance of SBI Mutual Fund schemes through this lens, a clear pattern emerges. Three equity schemes — SBI Consumption Opportunities Fund, SBI Focused Fund and SBI Large & Midcap Fund — show up consistently across all three long-term return charts.
They may not always be in the top three or top five within their respective categories, but their consistent presence across 10-, 15- and 20-year periods shows durability, adaptability and the ability to remain relevant through multiple market cycles.
However — and this is important — their positions change across timeframes. This shows that while these funds are consistent, they don’t stay at the same rank in every period.

And that’s the real lesson for long-term investors: focus on funds that continue to perform across decades, even if their exact ranking moves up or down with market cycles.
These three funds show up in all three long-term lists. But their positions vary when compared to peers, and that variation itself tells a story of how markets rotate across sectors and styles.
(Our three consistent funds rank 7th, 8th and 10th here)
(Source: Value Research)
Observation: The three long-term consistent funds rank 7th, 8th and 10th in the 10-year performance table — showing they are strong performers, but not the topmost in this shorter (10-year) long horizon.
(The same three funds reappear, but their order shifts again)
(Source: Value Research)
Observation: Here, Consumption Opportunities Fund moves sharply up the chart (Rank 2), while Focused and Large & Midcap remain mid-table. This shows how sectoral and style-based themes impact longer cycles differently.
(All three funds appear again — proving longevity)
(Source: Value Research)
Observation:
At the 20-year mark:
Consumption Opportunities Fund takes the top slot,
Large & Midcap climbs to Rank 2,
Focused Fund sits at Rank 3.
This shows that over very long horizons, patterns converge and these three funds begin dominating the top of the chart.
With this long-term consistency established, it becomes easier to look at what these funds represent individually. Here is a quick snapshot of each scheme’s basic profile to help readers understand their origins, size and risk characteristics.
Launched in 1999, the SBI Consumption Opportunities Fund is one of the oldest thematic funds in the market and has delivered 15.20% returns since inception.
Benchmarking against the NIFTY India Consumption TRI, the fund invests in companies riding India’s consumption growth. With Rs 3,259 crore in assets and a Very High risk rating, it suits long-term investors comfortable with sector-driven strategies.
The expense ratio stands at 1.97%, typical for an actively managed thematic scheme.
Launched in 1993, SBI Large & Midcap Fund has delivered 15% returns since inception. Tracking the NIFTY LargeMidcap 250 TRI, it blends stability of large-caps with the growth potential of mid-caps.
With a sizable Rs 35,514 crore asset base and a Very High risk rating, the scheme is built for long-term investors seeking balanced growth across market caps. Its 1.56% expense ratio is competitive for a fund of its size and category.
Launched in 2004, SBI Focused Fund has delivered an impressive 18.77% return since inception. Benchmarking against the BSE 500 TRI, the fund invests in a limited number of quality stocks across sectors. With Rs 40,824 crore in assets and a Very High risk tag, it is designed for investors who prefer focused portfolios with long-term horizons. Its 1.53% expense ratio is reasonable for an actively managed concentrated equity strategy.
Each long-term bucket tells a different story:
10 years – Covers one or two major market cycles
Gives a medium-long picture, but sector winners can distort rankings.
15 years – Covers multiple cycles
More balanced view of fund philosophy, stock-picking, management consistency.
20 years – True test of longevity
Only a handful of schemes even have a 20-year history. Funds that show up here automatically qualify as seasoned performers. So, when a fund appears in all three timeframes, even with changing ranks, it demonstrates longevity, adaptability, relevance across cycles, and consistency in the investment process. This is why these three SBI funds stand out.
While these performance charts paint a strong historical picture, past returns do not guarantee future performance. Market cycles continue to change, and no single metric should be used to select a mutual fund.
Investors should also consider rolling returns, volatility and drawdowns, fund manager track record, asset allocation discipline, expense ratios and investment horizon and personal risk profile.
Long-term history is a powerful signal, but it must be balanced with present fundamentals and future risk assessment.
Disclaimer: The above content is for informational purposes only. Mutual Fund investments are subject to market risks. Please consult your financial advisor before investing.
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