Aditya Birla Sun Life Large Cap Fund
Direct · GrowthAI Summary
Aditya Birla Sun Life Large Cap Fund has delivered strong SIP XIRR across tenures, including 14.35% over 3Y and 14.81% over 5Y, outpacing the category average SIP XIRR of 13.97% and 14.33% respectively. The fund has consistently beaten the NIFTY 50 on a lump-sum basis, generating positive alpha at every window, such as 3.40% over 3Y and 2.89% over 7Y. The 1Y SIP XIRR of 8.19% also exceeds the 7.72% category average, though 2026 has been a weak calendar year with a -8.97% return.
The fund's maximum drawdown of -37.66% with a 66-day decline and 231-day recovery reflects meaningful equity market risk, and it has experienced 9 drawdown events greater than 10%. Risk-adjusted positioning is favourable, with downside capture consistently below 100% across all windows (92-94%) versus upside capture of 95-98%, meaning the fund loses less than the NIFTY 50 infalls while keeping most of the gains. This asymmetry, combined with a Calmar ratio of roughly 0.37-0.42 across tenures, supports its case as a relatively resilient large cap offering.
The portfolio is well diversified with 71 holdings, though the top 10 account for roughly 44.6% of NAV, led by ICICI Bank (7.74%) and HDFC Bank (7.01%). Banks dominate with 26.8% sector allocation, creating meaningful financial-sector concentration, while Retailing, IT-Software, and Automobiles each sit near 6.6-6.9%. This bank-heavy tilt means performance will be sensitive to interest rate cycles and financial sector trends.
The fund sits modestly ahead of category SIP XIRR averages at 1Y, 3Y, and 5Y (e.g., 14.35% vs 13.97% at 3Y), though it trails slightly at 7Y (13.77% vs 13.97%) and 10Y (14.22% vs 14.23%), indicating mid-tier to upper-tier positioning among peers. Calendar year returns show consistency in decent years with contained losses in weak ones, such as -1.38% in 2018 versus the benchmark's much deeper decline. Its long-term benchmark outperformance across 15 years of windows underscores a durable alpha-generating process.
This fund suits investors seeking steady large cap exposure with moderate benchmark outperformance and better-than-index downside behaviour, ideally with a 5-7 year horizon. The -37.66% max drawdown means investors must tolerate significant interim losses during market stress, so it is appropriate for those with moderate to high risk tolerance. It works well as a core holding in a diversified equity portfolio, via SIP or lump-sum.
- Consistent positive alpha versus NIFTY 50 across all windows from 1Y through 15Y, including 3.40% over 3Y and 2.89% over 7Y
- Downside capture consistently below 94% across all periods, cushioning losses in falling markets relative to the benchmark
- SIP XIRR above category averages at 1Y (8.19% vs 7.72%), 3Y (14.35% vs 13.97%), and 5Y (14.81% vs 14.33%), at a reasonable 0.95% expense ratio
- Heavy Banks sector concentration at 26.8% of the portfolio exposes investors to financial sector cyclicality and credit cycle risks
- Recent form is weak, with a -8.97% calendar year return in 2026 and modest trailing advantage over category peers at longer tenures (7Y and 10Y)
Generated on 03-11-2026, 4:39 AM. 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 | ₹12.70 L | 16.6% | -59.1% | 90.8% |
| 3 Years | ₹36.00 L | ₹44.56 L | 13.9% | -23.2% | 32.5% |
| 5 Years | ₹60.00 L | ₹86.00 L | 13.7% | -9.6% | 25.5% |
| 7 Years | ₹84.00 L | ₹1.37 Cr | 13.8% | -2.0% | 20.8% |
| 10 Years | ₹1.20 Cr | ₹2.52 Cr | 14.2% | 10.8% | 17.6% |
| 12 Years | ₹1.44 Cr | ₹3.55 Cr | 13.8% | 11.0% | 16.0% |
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 | 16.6% | 14.3% | 7.7% | +2.4% |
| 3 Years | 13.9% | 11.0% | 14.0% | +2.9% |
| 5 Years | 13.7% | 10.4% | 14.3% | +3.3% |
| 7 Years | 13.8% | 10.6% | 14.0% | +3.2% |
| 10 Years | 14.2% | 11.4% | 14.2% | +2.8% |
| 12 Years | 13.8% | 11.3% | 13.8% | +2.4% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.0% | 11.4% | -33.4% | 93.4% | 0.52 | 1.59 | 84% | — | — |
| 3 Years | 14.4% | 14.8% | -7.4% | 32.3% | 1.36 | 4.53 | 97% | — | — |
| 5 Years | 13.9% | 13.8% | -1.2% | 27.7% | 1.61 | 10.34 | 100% | — | — |
| 10 Years | 14.1% | 14.2% | 11.0% | 16.8% | 5.61 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.51 | 0.98 | 98.2% | 94.6% | -8.0% | -10.9% |
| 3 Years | +3.40 | 0.96 | 97.5% | 93.1% | 9.8% | 6.4% |
| 5 Years | +2.70 | 0.95 | 95.8% | 92.1% | 7.9% | 5.2% |
| 7 Years | +2.89 | 0.93 | 95.4% | 92.2% | 12.6% | 10.0% |
| 10 Years | +1.26 | 0.94 | 95.2% | 93.6% | 11.4% | 10.3% |
| 12 Years | +2.53 | 0.94 | 95.5% | 92.4% | 11.4% | 9.0% |
| 15 Years | +2.81 | 0.94 | 95.8% | 92.2% | 12.0% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 7.74% |
| 2 | HDFC Bank Ltd. | 7.32% |
| 3 | Reliance Industries Ltd. | 4.84% |
| 4 | Kotak Mahindra Bank Ltd. | 4.11% |
| 5 | State Bank of India | 3.40% |
| 6 | Infosys Ltd. | 3.20% |
| 7 | Bharti Airtel Ltd. | 3.15% |
| 8 | Larsen & Toubro Ltd. | 3.13% |
| 9 | Mahindra & Mahindra Ltd. | 3.06% |
| 10 | Axis Bank Ltd. | 2.94% |