Aditya Birla Sun Life Banking and Financial Services Fund
Direct · GrowthAI Summary
The fund has delivered strong alpha over the NIFTY 50 across most periods, with a 1Y XIRR of 19.41% versus a benchmark CAGR of -2.9%, and a 12Y lump-sum CAGR of 14.95% versus 9.79% for the benchmark. However, its SIP XIRR trails the category average across most horizons — 15.74% vs 16.82% over 3Y and 14.78% vs 16.71% over 10Y — indicating peers in the sectoral/thematic category have done better on SIP returns. The 1Y outperformance of 5.3 percentage points over the category average is a recent bright spot.
The fund carries a beta above 1 (1.15-1.16 across periods), amplifying both market moves, with downside capture exceeding 100% in longer windows (110-112% over 7Y-10Y), meaning it falls slightly more than the benchmark in down markets. It has experienced 11 drawdown events greater than 10%, and while the latest maximum drawdown was mild at -0.47%, recovery took 280 days. Calmar ratios of roughly 0.30-0.38 across horizons suggest modest risk-adjusted efficiency relative to its peak-to-trough losses.
The portfolio is heavily concentrated in financials, with Banks at 53.9% and Finance at 26.8%, and the top three holdings — ICICI Bank (13.61%), HDFC Bank (10.98%), and Axis Bank (8.43%) — account for over 33% of NAV. With 39 total holdings, diversification within the sector is reasonable, but exposure is essentially a leveraged bet on India's financial services cycle. Insurance (7.8%), Capital Markets (6.8%), and Fintech (2.5%) provide only marginal diversification.
Against the category average SIP XIRR, the fund underperforms over 3Y, 5Y, 7Y, and 10Y horizons by roughly 1-3 percentage points, though it leads over 1Y (19.41% vs 14.1%) and is nearly at par over 12Y (14.32% vs 16.25%). Calendar year returns show strong consistency in up years, including 49.51% in 2017 and 67.4% in 2014, but flat or negative results in 2013, 2015, 2018, and 2020. This pattern reflects the cyclical nature of banking sector performance rather than steady compounding.
This fund is suitable only for investors with high risk tolerance who already hold diversified core equity portfolios and want a tactical allocation to India's financial sector. A time horizon of at least 5-7 years is advisable given the sector's cyclicality and the fund's history of double-digit drawdowns. Investors should cap sectoral exposure to a small portion of their overall portfolio and be prepared for extended periods of underperformance.
- Consistent alpha over NIFTY 50, with 12Y and 15Y fund CAGRs of 14.95% and 14.25% versus benchmark 9.79% and 9.53%
- Strong recent momentum with 1Y XIRR of 19.41%, beating the category average of 14.1% by over 5 percentage points
- High upside capture (105-115%) across all periods, indicating the fund participates strongly in market rallies
- SIP XIRR trails the category average across 3Y, 5Y, 7Y, and 10Y horizons, suggesting weaker relative performance among sectoral peers
- Extreme sector concentration with 80.7% in Banks and Finance combined, leaving investors fully exposed to financial sector downturns
- Downside capture above 100% over 7Y-10Y windows (110-112%) combined with 11 drawdown events greater than 10% indicates meaningful downside risk
Generated on 06-09-2026, 7:54 PM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.96 L | 19.4% | -71.0% | 139.9% |
| 3 Years | ₹36.00 L | ₹46.01 L | 15.7% | -30.0% | 33.4% |
| 5 Years | ₹60.00 L | ₹86.57 L | 13.8% | -10.9% | 23.8% |
| 7 Years | ₹84.00 L | ₹1.41 Cr | 14.7% | 7.6% | 18.8% |
| 10 Years | ₹1.20 Cr | ₹2.61 Cr | 14.8% | 11.3% | 17.0% |
| 12 Years | ₹1.44 Cr | ₹3.49 Cr | 14.3% | 12.2% | 15.8% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 19.4% | 14.4% | 14.1% | +5.0% |
| 3 Years | 15.7% | 11.1% | 16.8% | +4.7% |
| 5 Years | 13.8% | 10.4% | 16.9% | +3.4% |
| 7 Years | 14.7% | 10.6% | 16.5% | +4.1% |
| 10 Years | 14.8% | 11.5% | 16.7% | +3.3% |
| 12 Years | 14.3% | 11.4% | 16.3% | +2.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.2% | 16.1% | -42.6% | 105.7% | 0.50 | 1.31 | 82% | — | — |
| 3 Years | 15.7% | 16.2% | -10.2% | 36.2% | 1.05 | 2.93 | 93% | — | — |
| 5 Years | 14.2% | 14.2% | 0.8% | 29.4% | 1.49 | 14.71 | 100% | — | — |
| 10 Years | 15.6% | 15.4% | 12.1% | 19.7% | 5.24 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +9.84 | 1.16 | 114.3% | 102.1% | 5.4% | -2.9% |
| 3 Years | +4.47 | 1.07 | 105.7% | 99.7% | 12.3% | 7.8% |
| 5 Years | +4.31 | 1.07 | 106.0% | 100.6% | 12.2% | 7.8% |
| 7 Years | +1.08 | 1.14 | 111.9% | 110.7% | 13.7% | 11.8% |
| 10 Years | +1.08 | 1.16 | 113.3% | 112.0% | 12.5% | 10.8% |
| 12 Years | +4.66 | 1.15 | 114.4% | 109.3% | 14.9% | 9.8% |
| 15 Years | +4.24 | 1.16 | 115.5% | 110.4% | 14.3% | 9.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 13.61% |
| 2 | HDFC Bank Limited | 10.98% |
| 3 | Axis Bank Limited | 8.43% |
| 4 | Bajaj Finance Limited | 5.84% |
| 5 | State Bank of India | 5.36% |
| 6 | Shriram Finance Ltd | 5.35% |
| 7 | Kotak Mahindra Bank Limited | 3.57% |
| 8 | Bank of Maharashtra | 3.12% |
| 9 | AU Small Finance Bank Limited | 2.95% |
| 10 | PNB Housing Finance Limited | 2.60% |