New Delhi, Sept. 25 -- When comparing equity mutual funds, looking at returns alone can give only part of the picture. A fund may deliver strong returns over three years, but investors also need to see how those returns compare with the fund's benchmark and whether the fund has added value over what the benchmark delivered.

Among diversified equity funds, some schemes that feature among the top performers by three-year returns also show strong benchmark outperformance.

ITI Small Cap Fund topped the list with a 25.31% three-year return, closely followed by Bandhan Small Cap Fund at 25.26%.

Invesco India Mid Cap Fund and HSBC Midcap Fund also delivered more than 23% over the three-year period, while Invesco India Small Cap Fund recorded ...