New Delhi, Sept. 29 -- The Nifty 50 has delivered zero returns in the past year. But a deep dive reveals major variations across asset classes and even within equity segments. Here is a round-up of the recent 1-year returns across Indian indices, asset classes, and global funds, alongside key insights for asset allocation and portfolio strategy.

While the Nifty 50 delivered zero returns from September 2024 to September 2025, the broader index, Nifty 500, was down by 4.09%. Nifty Midcap 150 delivered -2.88% and Nifty Smallcap 250 delivered -6.86%.

Midcap and smallcap indices underperformed large caps in the last year, reversing the prior multi-year trend. Passive funds tracking these indices have delivered returns in line with this. Howe...