This study examines the effect of fund size and fund age on the performance of conventional equity mutual funds in Indonesia during 2021–2023. The research uses a quantitative approach and secondary data obtained from mutual fund net asset value reports, prospectuses, fund fact sheets, and official publications. A purposive sampling technique produced 40 equity mutual funds, while the regression analysis was based on 35 complete observations after data screening. Mutual fund performance was measured using the Sharpe Ratio, whereas fund size and fund age represented the explanatory variables. Data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, t-test, F-test, and the coefficient of determination. The results indicate that fund size has a negative but statistically insignificant effect on mutual fund performance (β = −10.663; t = −1.555; p = 0.130). Fund age has a negative and statistically significant effect (β = −1.014; t = −2.126; p = 0.041). Simultaneously, fund size and fund age do not significantly explain performance at the 5% level (F = 2.987; p = 0.065). The model explains 15.7% of performance variation.
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