In 2025, multi-asset allocation funds significantly outperformed equity-focused funds, driven by a substantial rally in precious metals. Gold prices increased by 76% and silver by 155%, boosting diversified portfolios. These funds achieved an average return of nearly 17%, surpassing equity categories which struggled to meet benchmarks. Large-cap, midcap, and small-cap equity funds, along with flexicap and multicap funds, generally underperformed their respective indices, indicating broad challenges for active equity strategies.