Welcome to TrendMap, your quick, visual guide to the performance of different investment segments. In this edition, we present a 10-year performance tracker of various asset classes. The annual returns are ranked for multiple asset classes across equity, debt, precious metals and real estate. This map shows that no single asset class reigns supreme. Hence, diversification helps. By Sameer Bhardwaj.
Synopsis
Welcome to TrendMap, your quick, visual guide to the performance of different investment segments. In this edition, we present a 10-year performance tracker of various asset classes. The annual returns are ranked for multiple asset classes across equity, debt, precious metals and real estate. This map shows that no single asset class reigns supreme. Hence, diversification helps. By Sameer Bhardwaj.
A weak year, but equities still reward patient investors
Precious metals have continued to outperform so far in 2026, as safe-haven assets sway investors amid global uncertainties and macroeconomic risks. Strong central bank buying and falling real interest rates are supporting gold prices. Silver is gaining not just from investment demand, but also from its vast industrial usage across electronics, solar energy and electric vehicles.
Short-term debt has ranked third among asset classes this year, as investors go for capital preservation and liquidity in a volatile environment. Long-term debt has delivered marginal losses, saddled with rising bond yields and the ongoing interest rate uncertainty. Equity markets have seen a notable divergence. Large-cap stocks are facing pressure from foreign investor outflows, earnings concerns, and valuation corrections. However, mid- and small-cap segments have shown relative resilience, supported by some strong domestic sectors.
Long-term performance
Over a 10-year period, gold and silver have continued to lead returns, underscoring their role in long-term wealth preservation. Among equities, mid-cap stocks have fared the best, reflecting the faster earnings growth potential of emerging businesses. Small caps have also given robust returns, but with much higher volatility.
In contrast, real estate has delivered the weakest returns over the long term. This can be attributed to regulatory disruptions, low rental yields, and a shift in household savings towards financial assets.
Source: Bloomberg, NHB and ACE MF. *2026 data is YTD based on 2 June 2026 closing values. Other year returns are calculated between the first and the last trading day closing values. The latest NHB Residex data is available up to December 2025 quarter. For 2026, the data is yet to be released and therefore, real estate returns have not been included for 2026. Benchmarks used: Nifty 50 for Equity (Large cap); Nifty Midcap 100 Equity (Mid cap); Nifty Smallcap 100 for Equity (Small cap); MCX Silver futures for Silver; MCX Gold futures for Gold; Crisil 10 Year Gilt for G-Sec (10-year); Crisil 91 Day T-Bill for Debt (Short-term); NHB Residex for Real estate.