A fund that generates positive excess returns across multiple time frames generally has a robust asset mix that provides resistance during an unpredictable market environment. ET Wealth analysed the excess returns that equity diversified funds have generated with respect to the Nifty 500 TRI index, using the rolling returns for multiple time periods. The data from 1 September 2018 to 1 September 2023 was considered, and rolling returns have been worked out at a weekly interval using the daily NAV data