FundsIndia’s October 2026 report compares 20-year returns across asset classes. ₹1 lakh invested in gold grew to ₹14.6 lakh, compared with ₹8 lakh in Indian equities, ₹4.3 lakh in debt and ₹4.2 lakh in real estate, highlighting gold’s stronger performance over the period.
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When deciding where to invest, people often compare equity, gold, debt and real estate based on their recent performance. But the longer-term picture can look very different, as returns vary across asset classes and the leader in one period may not remain the best performer in another.
A 20-year comparison by FundsIndia, using data as of 30 September 2026, shows how differently these investments have grown. An investment of ₹1 lakh in gold would have grown to ₹14.6 lakh, compared with ₹8 lakh in Indian equities. Debt and real estate delivered lower growth over the same period, with ₹1 lakh growing to around ₹4.3 lakh and ₹4.2 lakh, respectively.
The comparison offers a perspective on how different assets have performed over the long term. However, historical returns do not guarantee future performance, and the figures should be read in the context of how each asset class is measured.
How ₹1 lakh grew across asset classes in 20 years
Asset class | Annualised return | Value of ₹1 lakh after 20 years |
| Gold | 14.3% | ₹14.6 lakh |
| Indian equity | 11.0% | ₹8 lakh |
| Debt | 7.5% | ₹4.3 lakh |
| Real estate | 7.5% | ₹4.2 lakh |
| Source: FundsIndia’s October 2026 report. Data as of 30 September 2026, except real estate, which is updated through June 2026. Values are based on the report’s rounded wealth multiples. | ||
Gold delivered the highest annualised return among the four asset classes over this period. Its 14.3% annualised return translated into a 14.6-fold increase in wealth. Indian equities returned 11% annually, turning ₹1 lakh into approximately ₹8 lakh.
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