In the realm of investing, consistent performance of mutual funds is crucial for long-term success. A recent analysis of 118 diversified equity funds revealed that only 19 funds, or 16%, demonstrated consistent outperformance across multiple rolling periods. Traditional point-to-point returns can be misleading, as they often depend on arbitrary start and end dates. In contrast, rolling returns evaluate every possible entry and exit point within a specified timeframe, aligning performance with actual investor experiences. The study, conducted over the challenging fiscal year of 2025-26, highlighted that only one in six funds met the stringent criteria of outperforming their benchmarks for at least 80% of trading days across 2-year, 3-year, and 5-year rolling periods. The selected funds exhibited strong risk discipline, with 10 of the 11 funds maintaining a beta of less than 1, indicating lower sensitivity to market fluctuations. Furthermore, these funds had lower expense ratios than the average for equity-diversified funds, making them more cost-effective options for investors. Ultimately, this study serves as a reminder that the best mutual fund is one that consistently outperforms its benchmark, rather than one that simply tops the charts at a given moment.