New Delhi, July 15 -- A few years of disappointing SIP returns are often enough to make investors question whether they have chosen the wrong mutual fund. The temptation to stop investing or switch to a fund that has recently outperformed is especially strong when markets are volatile and portfolios remain in the red.

Investment experts, however, caution against making decisions based on short-term returns alone. They say equity mutual funds need time to navigate market cycles, and investors should first determine whether the underperformance is driven by broader market conditions or reflects a structural problem with the fund itself.

According to Jiral Mehta, Senior Manager, Research at FundsIndia, weak returns in the early years of an...