New Delhi, Sept. 29 -- Hybrid mutual funds invest across equity, debt, and, depending on the scheme, other asset classes. The allocation varies by category, making these funds suitable for investors looking for different levels of equity exposure and diversification within a single mutual fund.

Under the SEBI framework, hybrid mutual funds are divided into seven categories:

Here are the top 5 hybrid funds that delivered the highest 10-year returns, along with those that lagged in this period.

Quant Multi Asset Allocation Fund topped the list with a 10-year return of 18.39%. Bank of India Aggressive Hybrid Fund followed at 16.03%, while Quant Aggressive Hybrid Fund delivered 15.81%.

ICICI Prudential Multi Asset Allocation Fund and ICIC...